ELGAS: 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.
ELGAS
Largest movements
- Cash +€216,910
up €216,910 (+1,238%), from €17,517 to €234,426
mainly Net result for the year (+€124,257) and Accrued charges and deferred income (+€110,215)
- Stocks and contracts -€51,475
no longer reported in 2025 (was €51,475)
- Receivables within one year -€34,174
down €34,174 (-7.4%), from €460,293 to €426,118
of which Other amounts receivable: -€22,740
- Tangible fixed assets -€8,585
down €8,585 (-70.0%), from €12,262 to €3,677
of which Plant, machinery and equipment: -€8,332
- Reserves +€124,257
up €124,257 (+270%), from €46,068 to €170,325
- Accrued charges and deferred income +€110,215
new in 2025: €110,215
- Trade debts -€93,262
down €93,262 (-53.8%), from €173,247 to €79,985
- Other debts -€38,876
down €38,876 (-55.2%), from €70,486 to €31,610
- Tax, wage and social debts +€20,968
up €20,968 (+541%), from €3,876 to €24,844
- Gross operating margin +€94,183
up €94,183 (+132%), from €71,347 to €165,529
- Financial charges -€84,718
down €84,718 (-98.1%), from €86,318 to €1,600
of which Non-recurring financial charges: -€85,198
- Other operating charges -€30,594
down €30,594 (-67.8%), from €45,137 to €14,544
- Taxes +€16,610
new in 2025: €16,610
- Depreciation -€3,799
down €3,799 (-30.7%), from €12,383 to €8,585
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.
Derived cash bridge
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 | €544,271 | €667,573 | +€123,303 | +22.7% |
| Fixed assets | 21/28 | €12,262 | €3,677 | -€8,585 | -70.0% |
| Tangible fixed assets | 22/27 | €12,262 | €3,677 | -€8,585 | -70.0% |
| Plant, machinery and equipment | 23 | €11,733 | €3,401 | -€8,332 | -71.0% |
| Furniture and vehicles | 24 | €529 | €276 | -€253 | -47.8% |
| Current assets | 29/58 | €532,009 | €663,896 | +€131,887 | +24.8% |
| Stocks and contracts in progress | 3 | €51,475 | - | -€51,475 | |
| Stocks | 30/36 | €51,475 | - | -€51,475 | |
| Amounts receivable within one year | 40/41 | €460,293 | €426,118 | -€34,174 | -7.4% |
| Trade receivables | 40 | €244,064 | €232,630 | -€11,434 | -4.7% |
| Other amounts receivable | 41 | €216,229 | €193,488 | -€22,740 | -10.5% |
| Cash at bank and in hand | 54/58 | €17,517 | €234,426 | +€216,910 | +1,238% |
| Deferred charges and accrued income | 490/1 | €2,725 | €3,352 | +€627 | +23.0% |
| Total equity and liabilities | 10/49 | €544,271 | €667,573 | +€123,303 | +22.7% |
| Equity | 10/15 | €295,662 | €419,919 | +€124,257 | +42.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €46,068 | €170,325 | +€124,257 | +270% |
| Distributable reserves | 133 | €46,068 | €170,325 | +€124,257 | +270% |
| Profit (loss) carried forward | 14 | €231,002 | €231,002 | = | 0.0% |
| Amounts payable | 17/49 | €248,608 | €247,654 | -€954 | -0.4% |
| Amounts payable within one year | 42/48 | €248,608 | €137,439 | -€111,169 | -44.7% |
| Current portion of amounts payable after more than one year | 42 | €1,000 | €1,000 | = | 0.0% |
| Trade debts | 44 | €173,247 | €79,985 | -€93,262 | -53.8% |
| Suppliers | 440/4 | €173,247 | €79,985 | -€93,262 | -53.8% |
| Taxes, remuneration and social security | 45 | €3,876 | €24,844 | +€20,968 | +541% |
| Taxes | 450/3 | €3,876 | €24,844 | +€20,968 | +541% |
| Other amounts payable | 47/48 | €70,486 | €31,610 | -€38,876 | -55.2% |
| Accrued charges and deferred income | 492/3 | - | €110,215 | +€110,215 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,383 | €8,585 | -€3,799 | -30.7% |
| Other operating charges | 640/8 | €45,137 | €14,544 | -€30,594 | -67.8% |
| Gross operating margin | 9900 | €71,347 | €165,529 | +€94,183 | +132% |
| Operating profit (loss) | 9901 | €13,826 | €142,401 | +€128,575 | +930% |
| Financial income | 75/76B | €190 | €65 | -€124 | -65.5% |
| Recurring financial income | 75 | €190 | €65 | -€124 | -65.5% |
| Financial charges | 65/66B | €86,318 | €1,600 | -€84,718 | -98.1% |
| Recurring financial charges | 65 | €1,120 | €1,600 | +€480 | +42.8% |
| Non-recurring financial charges | 66B | €85,198 | - | -€85,198 | |
| Profit (loss) for the period before taxes | 9903 | -€72,302 | €140,867 | +€213,169 | |
| Income taxes | 67/77 | - | €16,610 | +€16,610 | |
| Profit (loss) for the period | 9904 | -€72,302 | €124,257 | +€196,559 | |
| Profit (loss) for the period to be appropriated | 9905 | -€72,302 | €124,257 | +€196,559 |
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 19 October 2026 via checked.be.