ELGON: 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.
ELGON
Largest movements
- Tangible fixed assets -€23,851
down €23,851 (-4.1%), from €578,282 to €554,430
of which Land and buildings: -€20,951
- Debts after one year -€40,274
down €40,274 (-23.0%), from €175,233 to €134,960
- Other debts +€10,962
up €10,962 (+19.5%), from €56,142 to €67,104
- Reserves +€7,191
up €7,191 (+2.8%), from €260,450 to €267,641
of which Distributable reserves: +€14,101
- Gross operating margin -€15,317
down €15,317 (-25.9%), from €59,226 to €43,910
- Taxes -€3,650
down €3,650 (-35.7%), from €10,230 to €6,581
- Other operating charges -€2,720
down €2,720 (-47.5%), from €5,721 to €3,002
- Financial charges -€1,329
down €1,329 (-16.3%), from €8,173 to €6,844
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 | €625,404 | €600,589 | -€24,815 | -4.0% |
| Fixed assets | 21/28 | €624,282 | €600,430 | -€23,851 | -3.8% |
| Tangible fixed assets | 22/27 | €578,282 | €554,430 | -€23,851 | -4.1% |
| Land and buildings | 22 | €572,482 | €551,530 | -€20,951 | -3.7% |
| Plant, machinery and equipment | 23 | €5,800 | €2,900 | -€2,900 | -50.0% |
| Financial fixed assets | 28 | €46,000 | €46,000 | = | 0.0% |
| Current assets | 29/58 | €1,122 | €158 | -€963 | -85.9% |
| Amounts receivable within one year | 40/41 | - | €11 | +€11 | |
| Other amounts receivable | 41 | - | €11 | +€11 | |
| Cash at bank and in hand | 54/58 | €1,122 | €147 | -€975 | -86.9% |
| Total equity and liabilities | 10/49 | €625,404 | €600,589 | -€24,815 | -4.0% |
| Equity | 10/15 | €310,029 | €317,220 | +€7,191 | +2.3% |
| Contributions | 10/11 | €49,579 | €49,579 | = | 0.0% |
| Reserves | 13 | €260,450 | €267,641 | +€7,191 | +2.8% |
| Tax-exempt reserves | 132 | €76,095 | €69,185 | -€6,911 | -9.1% |
| Distributable reserves | 133 | €184,355 | €198,456 | +€14,101 | +7.6% |
| Provisions and deferred taxes | 16 | €39,183 | €35,625 | -€3,558 | -9.1% |
| Deferred taxes | 168 | €39,183 | €35,625 | -€3,558 | -9.1% |
| Amounts payable | 17/49 | €276,192 | €247,745 | -€28,447 | -10.3% |
| Amounts payable after more than one year | 17 | €175,233 | €134,960 | -€40,274 | -23.0% |
| Financial debts | 170/4 | €175,233 | €134,960 | -€40,274 | -23.0% |
| Amounts payable within one year | 42/48 | €100,959 | €112,785 | +€11,827 | +11.7% |
| Current portion of amounts payable after more than one year | 42 | €38,896 | €39,961 | +€1,065 | +2.7% |
| Trade debts | 44 | €372 | €5,139 | +€4,767 | +1,281% |
| Suppliers | 440/4 | €372 | €5,139 | +€4,767 | +1,281% |
| Taxes, remuneration and social security | 45 | €5,548 | €581 | -€4,968 | -89.5% |
| Taxes | 450/3 | €5,548 | €581 | -€4,968 | -89.5% |
| Other amounts payable | 47/48 | €56,142 | €67,104 | +€10,962 | +19.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,851 | €23,851 | = | 0.0% |
| Other operating charges | 640/8 | €5,721 | €3,002 | -€2,720 | -47.5% |
| Gross operating margin | 9900 | €59,226 | €43,910 | -€15,317 | -25.9% |
| Operating profit (loss) | 9901 | €29,654 | €17,057 | -€12,597 | -42.5% |
| Financial charges | 65/66B | €8,173 | €6,844 | -€1,329 | -16.3% |
| Recurring financial charges | 65 | €8,173 | €6,844 | -€1,329 | -16.3% |
| Profit (loss) for the period before taxes | 9903 | €21,481 | €10,213 | -€11,268 | -52.5% |
| Transfer from deferred taxes | 780 | €3,558 | €3,558 | = | 0.0% |
| Income taxes | 67/77 | €10,230 | €6,581 | -€3,650 | -35.7% |
| Profit (loss) for the period | 9904 | €14,809 | €7,191 | -€7,618 | -51.4% |
| Transfer from tax-exempt reserves | 789 | €6,911 | €6,911 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €21,720 | €14,101 | -€7,618 | -35.1% |
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 28 October 2026 via checked.be.