ELFRA: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
ELFRA
Largest movements
- Tangible fixed assets +€3,992
up €3,992 (+2.0%), from €194,977 to €198,970
of which Land and buildings: +€7,293
- Other debts +€12,126
up €12,126 (+8.3%), from €145,366 to €157,492
- Profit (loss) carried forward -€4,364
down €4,364 (-3.4%), from -€127,332 to -€131,696
- Trade debts -€3,869
down €3,869 (-100.0%), from €3,869 to €0
- Gross operating margin +€2,471
up €2,471 (+134.4%), from €1,838 to €4,309
- Depreciation +€2,234
up €2,234 (+51.3%), from €4,356 to €6,591
- Other operating charges +€46
up €46 (+2.3%), from €1,980 to €2,026
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €196,426 | €200,350 | +€3,925 | +2.0% |
| Fixed assets | 21/28 | €195,349 | €199,342 | +€3,992 | +2.0% |
| Tangible fixed assets | 22/27 | €194,977 | €198,970 | +€3,992 | +2.0% |
| Land and buildings | 22 | €183,857 | €191,150 | +€7,293 | +4.0% |
| Plant, machinery and equipment | 23 | €11,121 | €7,820 | -€3,301 | -29.7% |
| Financial fixed assets | 28 | €372 | €372 | = | 0.0% |
| Current assets | 29/58 | €1,076 | €1,009 | -€67 | -6.3% |
| Cash at bank and in hand | 54/58 | €323 | €238 | -€85 | -26.3% |
| Deferred charges and accrued income | 490/1 | €753 | €771 | +€18 | +2.3% |
| Total equity and liabilities | 10/49 | €196,426 | €200,350 | +€3,925 | +2.0% |
| Equity | 10/15 | €46,193 | €41,830 | -€4,364 | -9.4% |
| Contributions | 10/11 | €173,525 | €173,525 | = | 0.0% |
| Capital | 10 | €173,525 | €173,525 | = | 0.0% |
| Issued capital | 100 | €173,525 | €173,525 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€127,332 | -€131,696 | -€4,364 | -3.4% |
| Amounts payable | 17/49 | €150,232 | €158,521 | +€8,288 | +5.5% |
| Amounts payable within one year | 42/48 | €149,235 | €157,492 | +€8,257 | +5.5% |
| Trade debts | 44 | €3,869 | €0 | -€3,869 | -100.0% |
| Suppliers | 440/4 | €3,869 | €0 | -€3,869 | -100.0% |
| Other amounts payable | 47/48 | €145,366 | €157,492 | +€12,126 | +8.3% |
| Accrued charges and deferred income | 492/3 | €997 | €1,029 | +€31 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,356 | €6,591 | +€2,234 | +51.3% |
| Other operating charges | 640/8 | €1,980 | €2,026 | +€46 | +2.3% |
| Gross operating margin | 9900 | €1,838 | €4,309 | +€2,471 | +134.4% |
| Operating profit (loss) | 9901 | -€4,498 | -€4,307 | +€191 | +4.2% |
| Financial charges | 65/66B | €50 | €56 | +€7 | +13.8% |
| Recurring financial charges | 65 | €50 | €56 | +€7 | +13.8% |
| Profit (loss) for the period before taxes | 9903 | -€4,547 | -€4,364 | +€184 | +4.0% |
| Profit (loss) for the period | 9904 | -€4,547 | -€4,364 | +€184 | +4.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,547 | -€4,364 | +€184 | +4.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.