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
- Receivables within one year +€9,213
up €9,213 (+32.5%), from €28,327 to €37,540
- Deferred charges and accrued income +€1,953
up €1,953 (+34.2%), from €5,709 to €7,662
- Profit (loss) carried forward +€11,356
up €11,356 (+14.9%), from €75,988 to €87,343
No income-statement line moved by more than 1% of the activity.
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 | €104,951 | €116,236 | +€11,286 | +10.8% |
| Fixed assets | 21/28 | €68,668 | €68,089 | -€579 | -0.8% |
| Tangible fixed assets | 22/27 | €68,668 | €68,089 | -€579 | -0.8% |
| Land and buildings | 22 | €68,668 | €68,089 | -€579 | -0.8% |
| Current assets | 29/58 | €36,283 | €48,147 | +€11,865 | +32.7% |
| Amounts receivable within one year | 40/41 | €28,327 | €37,540 | +€9,213 | +32.5% |
| Other amounts receivable | 41 | €28,327 | €37,540 | +€9,213 | +32.5% |
| Cash at bank and in hand | 54/58 | €2,246 | €2,945 | +€699 | +31.1% |
| Deferred charges and accrued income | 490/1 | €5,709 | €7,662 | +€1,953 | +34.2% |
| Total equity and liabilities | 10/49 | €104,951 | €116,236 | +€11,286 | +10.8% |
| Equity | 10/15 | €96,439 | €107,794 | +€11,356 | +11.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €75,988 | €87,343 | +€11,356 | +14.9% |
| Amounts payable | 17/49 | €8,512 | €8,442 | -€70 | -0.8% |
| Amounts payable within one year | 42/48 | €8,512 | €8,442 | -€70 | -0.8% |
| Taxes, remuneration and social security | 45 | €8,512 | €8,442 | -€70 | -0.8% |
| Taxes | 450/3 | €8,512 | €8,442 | -€70 | -0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €579 | €579 | = | 0.0% |
| Other operating charges | 640/8 | €1,644 | €1,694 | +€50 | +3.0% |
| Gross operating margin | 9900 | €18,077 | €17,979 | -€98 | -0.5% |
| Operating profit (loss) | 9901 | €15,854 | €15,706 | -€148 | -0.9% |
| Financial charges | 65/66B | €44 | €217 | +€173 | +398.0% |
| Recurring financial charges | 65 | €44 | €217 | +€173 | +398.0% |
| Profit (loss) for the period before taxes | 9903 | €15,811 | €15,489 | -€321 | -2.0% |
| Income taxes | 67/77 | €4,308 | €4,134 | -€175 | -4.1% |
| Profit (loss) for the period | 9904 | €11,502 | €11,356 | -€147 | -1.3% |
| Profit (loss) for the period to be appropriated | 9905 | €11,502 | €11,356 | -€147 | -1.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.