ELFRA: what changed
Two fiscal 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
- Cash +€323,164
up €323,164 (+7017.4%), from €4,605 to €327,770
mainly Investment in fixed assets (net) (+€220,307) and Net result for the year (+€146,908)
- Tangible fixed assets -€220,535
down €220,535 (-99.7%), from €221,265 to €730
of which Land and buildings: -€201,905
- Current investments -€10,000
down €10,000 (-74.3%), from €13,456 to €3,456
- Receivables within one year -€3,644
down €3,644 (-95.2%), from €3,828 to €184
of which Trade receivables: -€2,883
- Reserves +€146,908
up €146,908 (+90.4%), from €162,472 to €309,380
of which Distributable reserves: +€146,908
- Current portion of long-term debt -€21,226
down €21,226 (-100.0%), from €21,226 to €0
- Other debts -€17,816
down €17,816 (-87.9%), from €20,259 to €2,443
- Debts after one year -€10,926
down €10,926 (-100.0%), from €10,926 to €0
- Tax, wage and social debts -€6,256
down €6,256 (-81.6%), from €7,669 to €1,413
- Gross operating margin +€188,590
up €188,590 (+465.5%), from €40,517 to €229,107
- Taxes +€61,750
up €61,750 (+794.9%), from €7,768 to €69,518
- Depreciation -€13,372
down €13,372 (-98.3%), from €13,600 to €228
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 | €245,273 | €332,936 | +€87,663 | +35.7% |
| Fixed assets | 21/28 | €221,515 | €980 | -€220,535 | -99.6% |
| Tangible fixed assets | 22/27 | €221,265 | €730 | -€220,535 | -99.7% |
| Land and buildings | 22 | €201,905 | €0 | -€201,905 | -100.0% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €19,360 | €730 | -€18,630 | -96.2% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €23,758 | €331,956 | +€308,198 | +1297.2% |
| Stocks and contracts in progress | 3 | €696 | €0 | -€696 | -100.0% |
| Stocks | 30/36 | €696 | €0 | -€696 | -100.0% |
| Amounts receivable within one year | 40/41 | €3,828 | €184 | -€3,644 | -95.2% |
| Trade receivables | 40 | €2,883 | €0 | -€2,883 | -100.0% |
| Other amounts receivable | 41 | €945 | €184 | -€761 | -80.5% |
| Current investments | 50/53 | €13,456 | €3,456 | -€10,000 | -74.3% |
| Cash at bank and in hand | 54/58 | €4,605 | €327,770 | +€323,164 | +7017.4% |
| Deferred charges and accrued income | 490/1 | €1,174 | €546 | -€627 | -53.5% |
| Total equity and liabilities | 10/49 | €245,273 | €332,936 | +€87,663 | +35.7% |
| Equity | 10/15 | €182,160 | €329,068 | +€146,908 | +80.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €162,472 | €309,380 | +€146,908 | +90.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €162,472 | €309,380 | +€146,908 | +90.4% |
| Profit (loss) carried forward | 14 | €1,088 | €1,088 | = | 0.0% |
| Amounts payable | 17/49 | €63,113 | €3,867 | -€59,246 | -93.9% |
| Amounts payable after more than one year | 17 | €10,926 | €0 | -€10,926 | -100.0% |
| Financial debts | 170/4 | €10,926 | €0 | -€10,926 | -100.0% |
| Amounts payable within one year | 42/48 | €51,789 | €3,867 | -€47,922 | -92.5% |
| Current portion of amounts payable after more than one year | 42 | €21,226 | €0 | -€21,226 | -100.0% |
| Trade debts | 44 | €2,635 | €11 | -€2,624 | -99.6% |
| Suppliers | 440/4 | €2,635 | €11 | -€2,624 | -99.6% |
| Taxes, remuneration and social security | 45 | €7,669 | €1,413 | -€6,256 | -81.6% |
| Taxes | 450/3 | €7,669 | €1,413 | -€6,256 | -81.6% |
| Other amounts payable | 47/48 | €20,259 | €2,443 | -€17,816 | -87.9% |
| Accrued charges and deferred income | 492/3 | €398 | €0 | -€398 | -100.0% |
| Non-recurring operating income | 76A | €25,500 | €218,845 | +€193,345 | +758.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,600 | €228 | -€13,372 | -98.3% |
| Other operating charges | 640/8 | €2,444 | €1,123 | -€1,321 | -54.0% |
| Non-recurring operating charges | 66A | - | €10,360 | +€10,360 | |
| Gross operating margin | 9900 | €40,517 | €229,107 | +€188,590 | +465.5% |
| Operating profit (loss) | 9901 | €24,473 | €217,396 | +€192,923 | +788.3% |
| Financial income | 75/76B | €1,112 | €428 | -€683 | -61.5% |
| Recurring financial income | 75 | €1,112 | €428 | -€683 | -61.5% |
| Financial charges | 65/66B | €2,269 | €1,398 | -€871 | -38.4% |
| Recurring financial charges | 65 | €2,269 | €1,398 | -€871 | -38.4% |
| Profit (loss) for the period before taxes | 9903 | €23,316 | €216,427 | +€193,111 | +828.2% |
| Income taxes | 67/77 | €7,768 | €69,518 | +€61,750 | +794.9% |
| Profit (loss) for the period | 9904 | €15,548 | €146,908 | +€131,360 | +844.9% |
| Profit (loss) for the period to be appropriated | 9905 | €15,548 | €146,908 | +€131,360 | +844.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.