ELGECE: 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.
ELGECE
Largest movements
- Tangible fixed assets -€26,275
down €26,275 (-7.6%), from €345,015 to €318,740
of which Plant, machinery and equipment: -€25,460
- Profit (loss) carried forward -€10,059
down €10,059 (-6.6%), from -€153,023 to -€163,082
- Reserves -€9,981
down €9,981 (-16.5%), from €60,623 to €50,642
of which Tax-exempt reserves: -€9,981
- Provisions -€5,139
down €5,139 (-22.7%), from €22,641 to €17,502
- Gross operating margin +€4,689
up €4,689, from -€449 to €4,240
- Depreciation -€277
down €277 (-1.0%), from €26,552 to €26,275
- Other operating charges -€197
down €197 (-6.2%), from €3,155 to €2,958
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 | €362,848 | €338,024 | -€24,824 | -6.8% |
| Fixed assets | 21/28 | €346,342 | €320,067 | -€26,275 | -7.6% |
| Tangible fixed assets | 22/27 | €345,015 | €318,740 | -€26,275 | -7.6% |
| Land and buildings | 22 | €95,574 | €95,574 | = | 0.0% |
| Plant, machinery and equipment | 23 | €248,147 | €222,686 | -€25,460 | -10.3% |
| Furniture and vehicles | 24 | €1,294 | €479 | -€815 | -63.0% |
| Financial fixed assets | 28 | €1,326 | €1,326 | = | 0.0% |
| Current assets | 29/58 | €16,507 | €17,957 | +€1,451 | +8.8% |
| Amounts receivable within one year | 40/41 | - | €2,414 | +€2,414 | |
| Trade receivables | 40 | - | €2,414 | +€2,414 | |
| Cash at bank and in hand | 54/58 | €16,507 | €15,543 | -€963 | -5.8% |
| Total equity and liabilities | 10/49 | €362,848 | €338,024 | -€24,824 | -6.8% |
| Equity | 10/15 | -€30,400 | -€50,440 | -€20,040 | -65.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €60,623 | €50,642 | -€9,981 | -16.5% |
| Non-distributable reserves | 130/1 | €3,653 | €3,653 | = | 0.0% |
| Legal reserve | 130 | €3,653 | €3,653 | = | 0.0% |
| Tax-exempt reserves | 132 | €43,970 | €33,989 | -€9,981 | -22.7% |
| Distributable reserves | 133 | €13,000 | €13,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€153,023 | -€163,082 | -€10,059 | -6.6% |
| Provisions and deferred taxes | 16 | €22,641 | €17,502 | -€5,139 | -22.7% |
| Deferred taxes | 168 | €22,641 | €17,502 | -€5,139 | -22.7% |
| Amounts payable | 17/49 | €370,608 | €370,963 | +€355 | +0.1% |
| Amounts payable after more than one year | 17 | €300,000 | €300,000 | = | 0.0% |
| Financial debts | 170/4 | €300,000 | €300,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €70,608 | €70,963 | +€355 | +0.5% |
| Taxes, remuneration and social security | 45 | €999 | €1,303 | +€304 | +30.5% |
| Taxes | 450/3 | €999 | - | -€999 | |
| Remuneration and social security | 454/9 | - | €1,303 | +€1,303 | |
| Other amounts payable | 47/48 | €69,608 | €69,659 | +€51 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,552 | €26,275 | -€277 | -1.0% |
| Other operating charges | 640/8 | €3,155 | €2,958 | -€197 | -6.2% |
| Gross operating margin | 9900 | -€449 | €4,240 | +€4,689 | |
| Operating profit (loss) | 9901 | -€30,156 | -€24,993 | +€5,163 | +17.1% |
| Financial charges | 65/66B | €161 | €186 | +€26 | +16.1% |
| Recurring financial charges | 65 | €161 | €186 | +€26 | +16.1% |
| Profit (loss) for the period before taxes | 9903 | -€30,317 | -€25,179 | +€5,137 | +16.9% |
| Transfer from deferred taxes | 780 | €5,139 | €5,139 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€25,177 | -€20,040 | +€5,137 | +20.4% |
| Transfer from tax-exempt reserves | 789 | €9,981 | €9,981 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,196 | -€10,059 | +€5,137 | +33.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.