ELGE: 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.
ELGE
Largest movements
- Stocks and contracts -€283,699
no longer reported in 2025 (was €283,699)
- Cash +€49,209
up €49,209 (+40.6%), from €121,337 to €170,546
mainly Stocks and contracts (+€283,699) and Net result for the year (+€30,396)
- Deferred charges and accrued income +€21,468
up €21,468 (+693.2%), from €3,097 to €24,565
- Tangible fixed assets -€7,012
down €7,012 (-6.4%), from €109,005 to €101,992
of which Land and buildings: -€9,554
- Other debts -€254,881
down €254,881 (-92.3%), from €276,236 to €21,355
- Reserves +€35,795
up €35,795 (+16.0%), from €224,317 to €260,112
- Tax, wage and social debts +€13,462
up €13,462 (+1924.3%), from €700 to €14,162
- Advances received -€8,207
down €8,207 (-82.1%), from €10,000 to €1,793
- Gross operating margin +€41,543
up €41,543 (+196.7%), from €21,118 to €62,661
- Taxes +€14,886
up €14,886 (+2127.8%), from €700 to €15,586
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 | €565,354 | €341,997 | -€223,356 | -39.5% |
| Fixed assets | 21/28 | €109,005 | €101,992 | -€7,012 | -6.4% |
| Tangible fixed assets | 22/27 | €109,005 | €101,992 | -€7,012 | -6.4% |
| Land and buildings | 22 | €107,559 | €98,006 | -€9,554 | -8.9% |
| Plant, machinery and equipment | 23 | - | €3,130 | +€3,130 | |
| Furniture and vehicles | 24 | €1,142 | €857 | -€286 | -25.0% |
| Other tangible fixed assets | 26 | €303 | - | -€303 | |
| Current assets | 29/58 | €456,349 | €240,005 | -€216,344 | -47.4% |
| Stocks and contracts in progress | 3 | €283,699 | - | -€283,699 | |
| Stocks | 30/36 | €283,699 | - | -€283,699 | |
| Amounts receivable within one year | 40/41 | €43,967 | €40,644 | -€3,323 | -7.6% |
| Trade receivables | 40 | €37,617 | €37,895 | +€278 | +0.7% |
| Other amounts receivable | 41 | €6,350 | €2,749 | -€3,601 | -56.7% |
| Current investments | 50/53 | €4,250 | €4,250 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €121,337 | €170,546 | +€49,209 | +40.6% |
| Deferred charges and accrued income | 490/1 | €3,097 | €24,565 | +€21,468 | +693.2% |
| Total equity and liabilities | 10/49 | €565,354 | €341,997 | -€223,356 | -39.5% |
| Equity | 10/15 | €248,316 | €278,712 | +€30,396 | +12.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €224,317 | €260,112 | +€35,795 | +16.0% |
| Distributable reserves | 133 | €224,317 | €260,112 | +€35,795 | +16.0% |
| Profit (loss) carried forward | 14 | €5,399 | - | -€5,399 | |
| Amounts payable | 17/49 | €317,038 | €63,286 | -€253,752 | -80.0% |
| Amounts payable after more than one year | 17 | €9,000 | €9,000 | = | 0.0% |
| Other amounts payable | 178/9 | €9,000 | €9,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €306,416 | €53,235 | -€253,181 | -82.6% |
| Trade debts | 44 | €19,480 | €15,925 | -€3,555 | -18.2% |
| Suppliers | 440/4 | €19,480 | €15,925 | -€3,555 | -18.2% |
| Advances received on contracts in progress | 46 | €10,000 | €1,793 | -€8,207 | -82.1% |
| Taxes, remuneration and social security | 45 | €700 | €14,162 | +€13,462 | +1924.3% |
| Taxes | 450/3 | €700 | €14,162 | +€13,462 | +1924.3% |
| Other amounts payable | 47/48 | €276,236 | €21,355 | -€254,881 | -92.3% |
| Accrued charges and deferred income | 492/3 | €1,623 | €1,051 | -€571 | -35.2% |
| Non-recurring operating income | 76A | - | €529 | +€529 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,758 | €10,212 | +€454 | +4.7% |
| Other operating charges | 640/8 | €5,059 | €5,148 | +€89 | +1.8% |
| Non-recurring operating charges | 66A | - | €646 | +€646 | |
| Gross operating margin | 9900 | €21,118 | €62,661 | +€41,543 | +196.7% |
| Operating profit (loss) | 9901 | €6,300 | €46,654 | +€40,354 | +640.5% |
| Financial income | 75/76B | €0 | €0 | -€0 | -95.5% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -95.5% |
| Financial charges | 65/66B | €202 | €673 | +€470 | +232.8% |
| Recurring financial charges | 65 | €202 | €673 | +€470 | +232.8% |
| Profit (loss) for the period before taxes | 9903 | €6,099 | €45,982 | +€39,883 | +654.0% |
| Income taxes | 67/77 | €700 | €15,586 | +€14,886 | +2127.8% |
| Profit (loss) for the period | 9904 | €5,399 | €30,396 | +€24,997 | +463.0% |
| Profit (loss) for the period to be appropriated | 9905 | €5,399 | €30,396 | +€24,997 | +463.0% |
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 10 October 2026 via checked.be.