ELGO PROJECTS: 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.
ELGO PROJECTS
Largest movements
- Cash +€84,474
up €84,474 (+64.7%), from €130,629 to €215,103
mainly Net result for the year (+€69,631) and Other debts (+€68,776)
- Receivables within one year -€16,541
down €16,541 (-56.6%), from €29,246 to €12,705
- Other debts +€68,776
up €68,776 (+2456.9%), from €2,799 to €71,576
- Current portion of long-term debt -€2,788
no longer reported in 2025 (was €2,788)
- Depreciation -€5,139
down €5,139 (-70.1%), from €7,326 to €2,187
- Gross operating margin +€4,868
up €4,868 (+5.6%), from €87,423 to €92,291
- Taxes -€3,568
down €3,568 (-15.7%), from €22,787 to €19,219
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 | €163,072 | €228,866 | +€65,794 | +40.3% |
| Fixed assets | 21/28 | €2,187 | - | -€2,187 | |
| Tangible fixed assets | 22/27 | €2,187 | - | -€2,187 | |
| Furniture and vehicles | 24 | €2,187 | - | -€2,187 | |
| Current assets | 29/58 | €160,885 | €228,866 | +€67,981 | +42.3% |
| Amounts receivable within one year | 40/41 | €29,246 | €12,705 | -€16,541 | -56.6% |
| Trade receivables | 40 | €29,246 | €12,705 | -€16,541 | -56.6% |
| Cash at bank and in hand | 54/58 | €130,629 | €215,103 | +€84,474 | +64.7% |
| Deferred charges and accrued income | 490/1 | €1,010 | €1,058 | +€48 | +4.7% |
| Total equity and liabilities | 10/49 | €163,072 | €228,866 | +€65,794 | +40.3% |
| Equity | 10/15 | €148,918 | €148,918 | = | 0.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €145,918 | €145,918 | = | 0.0% |
| Distributable reserves | 133 | €145,918 | €145,918 | = | 0.0% |
| Amounts payable | 17/49 | €14,155 | €79,948 | +€65,794 | +464.8% |
| Amounts payable within one year | 42/48 | €13,987 | €79,802 | +€65,815 | +470.5% |
| Current portion of amounts payable after more than one year | 42 | €2,788 | - | -€2,788 | |
| Trade debts | 44 | €198 | €200 | +€1 | +0.6% |
| Suppliers | 440/4 | €198 | €200 | +€1 | +0.6% |
| Taxes, remuneration and social security | 45 | €8,202 | €8,027 | -€175 | -2.1% |
| Taxes | 450/3 | €8,202 | €8,027 | -€175 | -2.1% |
| Other amounts payable | 47/48 | €2,799 | €71,576 | +€68,776 | +2456.9% |
| Accrued charges and deferred income | 492/3 | €167 | €146 | -€21 | -12.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,326 | €2,187 | -€5,139 | -70.1% |
| Other operating charges | 640/8 | €608 | €1,025 | +€417 | +68.6% |
| Gross operating margin | 9900 | €87,423 | €92,291 | +€4,868 | +5.6% |
| Operating profit (loss) | 9901 | €79,489 | €89,079 | +€9,590 | +12.1% |
| Financial charges | 65/66B | €359 | €229 | -€130 | -36.3% |
| Recurring financial charges | 65 | €359 | €229 | -€130 | -36.3% |
| Profit (loss) for the period before taxes | 9903 | €79,129 | €88,850 | +€9,721 | +12.3% |
| Income taxes | 67/77 | €22,787 | €19,219 | -€3,568 | -15.7% |
| Profit (loss) for the period | 9904 | €56,343 | €69,631 | +€13,289 | +23.6% |
| Profit (loss) for the period to be appropriated | 9905 | €56,343 | €69,631 | +€13,289 | +23.6% |
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 2 October 2026 via checked.be.