Elgho: 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.
Elgho
Largest movements
- Current investments +€214,343
up €214,343 (+268%), from €80,000 to €294,343
- Cash -€153,353
down €153,353 (-88.4%), from €173,505 to €20,152
mainly Current investments (-€214,343) and Contributions, distributions and other (-€184,597)
- Tangible fixed assets -€10,750
down €10,750 (-42.8%), from €25,122 to €14,372
of which Furniture and vehicles: -€8,552
- Other debts +€41,143
up €41,143 (+27.8%), from €147,765 to €188,908
- Accrued charges and deferred income +€11,424
up €11,424 (+6,444%), from €177 to €11,601
- Trade debts +€5,354
up €5,354 (+139%), from €3,839 to €9,193
- Tax, wage and social debts -€3,899
down €3,899 (-19.4%), from €20,115 to €16,215
of which Taxes: -€3,660
- Gross operating margin +€35,276
up €35,276 (+13.2%), from €267,340 to €302,615
- Taxes +€10,210
up €10,210 (+22.5%), from €45,423 to €55,633
- Depreciation -€6,586
down €6,586 (-34.8%), from €18,945 to €12,359
- Staff costs -€4,201
down €4,201 (-7.6%), from €55,567 to €51,366
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 | €293,415 | €347,438 | +€54,022 | +18.4% |
| Fixed assets | 21/28 | €30,122 | €19,372 | -€10,750 | -35.7% |
| Tangible fixed assets | 22/27 | €25,122 | €14,372 | -€10,750 | -42.8% |
| Plant, machinery and equipment | 23 | €12,776 | €7,835 | -€4,941 | -38.7% |
| Furniture and vehicles | 24 | €8,552 | €0 | -€8,552 | -100% |
| Other tangible fixed assets | 26 | €3,794 | €6,536 | +€2,743 | +72.3% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €263,293 | €328,066 | +€64,772 | +24.6% |
| Amounts receivable within one year | 40/41 | €7,696 | €10,977 | +€3,281 | +42.6% |
| Trade receivables | 40 | €1,147 | €866 | -€281 | -24.5% |
| Other amounts receivable | 41 | €6,549 | €10,111 | +€3,562 | +54.4% |
| Current investments | 50/53 | €80,000 | €294,343 | +€214,343 | +268% |
| Cash at bank and in hand | 54/58 | €173,505 | €20,152 | -€153,353 | -88.4% |
| Deferred charges and accrued income | 490/1 | €2,093 | €2,594 | +€502 | +24.0% |
| Total equity and liabilities | 10/49 | €293,415 | €347,438 | +€54,022 | +18.4% |
| Equity | 10/15 | €121,520 | €121,520 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €102,920 | €102,920 | = | 0.0% |
| Distributable reserves | 133 | €102,920 | €102,920 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €171,895 | €225,918 | +€54,022 | +31.4% |
| Amounts payable within one year | 42/48 | €171,718 | €214,317 | +€42,598 | +24.8% |
| Trade debts | 44 | €3,839 | €9,193 | +€5,354 | +139% |
| Suppliers | 440/4 | €3,839 | €9,193 | +€5,354 | +139% |
| Taxes, remuneration and social security | 45 | €20,115 | €16,215 | -€3,899 | -19.4% |
| Taxes | 450/3 | €8,824 | €5,164 | -€3,660 | -41.5% |
| Remuneration and social security | 454/9 | €11,290 | €11,051 | -€239 | -2.1% |
| Other amounts payable | 47/48 | €147,765 | €188,908 | +€41,143 | +27.8% |
| Accrued charges and deferred income | 492/3 | €177 | €11,601 | +€11,424 | +6,444% |
| Non-recurring operating income | 76A | - | €16,709 | +€16,709 | |
| Remuneration, social security and pensions | 62 | €55,567 | €51,366 | -€4,201 | -7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,945 | €12,359 | -€6,586 | -34.8% |
| Other operating charges | 640/8 | €1,082 | €1,104 | +€22 | +2.0% |
| Gross operating margin | 9900 | €267,340 | €302,615 | +€35,276 | +13.2% |
| Operating profit (loss) | 9901 | €191,745 | €237,787 | +€46,041 | +24.0% |
| Financial income | 75/76B | €1,511 | €2,507 | +€995 | +65.9% |
| Recurring financial income | 75 | €1,511 | €2,507 | +€995 | +65.9% |
| Financial charges | 65/66B | €90 | €64 | -€26 | -29.4% |
| Recurring financial charges | 65 | €90 | €64 | -€26 | -29.4% |
| Profit (loss) for the period before taxes | 9903 | €193,167 | €240,230 | +€47,063 | +24.4% |
| Income taxes | 67/77 | €45,423 | €55,633 | +€10,210 | +22.5% |
| Profit (loss) for the period | 9904 | €147,744 | €184,597 | +€36,854 | +24.9% |
| Profit (loss) for the period to be appropriated | 9905 | €147,744 | €184,597 | +€36,854 | +24.9% |
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 18 October 2026 via checked.be.