ELHDJ: 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.
ELHDJ
Largest movements
- Intangible fixed assets -€18,900
down €18,900 (-16.7%), from €113,400 to €94,500
- Tangible fixed assets -€11,473
down €11,473 (-38.1%), from €30,135 to €18,662
- Cash +€5,032
up €5,032 (+9.6%), from €52,629 to €57,661
mainly Current portion of long-term debt (+€55,413) and Depreciation (+€34,800)
- Other debts -€83,483
down €83,483 (-65.2%), from €127,995 to €44,512
- Current portion of long-term debt +€55,413
up €55,413 (+549%), from €10,091 to €65,503
- Debts after one year -€10,503
down €10,503 (-79.6%), from €13,196 to €2,692
- Reserves +€5,900
up €5,900 (+13.9%), from €42,400 to €48,300
- Trade debts +€5,798
up €5,798 (+459%), from €1,263 to €7,061
- Gross operating margin -€23,281
down €23,281 (-30.7%), from €75,954 to €52,673
- Depreciation -€4,936
down €4,936 (-12.4%), from €39,735 to €34,800
- Taxes -€2,640
down €2,640 (-33.4%), from €7,906 to €5,266
- Financial charges -€1,273
down €1,273 (-19.5%), from €6,531 to €5,257
- Other operating charges -€1,102
down €1,102 (-42.8%), from €2,575 to €1,472
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 | €210,687 | €185,674 | -€25,014 | -11.9% |
| Fixed assets | 21/28 | €143,535 | €113,162 | -€30,373 | -21.2% |
| Intangible fixed assets | 21 | €113,400 | €94,500 | -€18,900 | -16.7% |
| Tangible fixed assets | 22/27 | €30,135 | €18,662 | -€11,473 | -38.1% |
| Furniture and vehicles | 24 | €30,135 | €18,662 | -€11,473 | -38.1% |
| Current assets | 29/58 | €67,152 | €72,512 | +€5,359 | +8.0% |
| Amounts receivable within one year | 40/41 | €11,794 | €12,338 | +€544 | +4.6% |
| Trade receivables | 40 | - | €1,320 | +€1,320 | |
| Other amounts receivable | 41 | €11,794 | €11,018 | -€776 | -6.6% |
| Cash at bank and in hand | 54/58 | €52,629 | €57,661 | +€5,032 | +9.6% |
| Deferred charges and accrued income | 490/1 | €2,729 | €2,513 | -€216 | -7.9% |
| Total equity and liabilities | 10/49 | €210,687 | €185,674 | -€25,014 | -11.9% |
| Equity | 10/15 | €47,622 | €53,524 | +€5,901 | +12.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €42,400 | €48,300 | +€5,900 | +13.9% |
| Distributable reserves | 133 | €42,400 | €48,300 | +€5,900 | +13.9% |
| Profit (loss) carried forward | 14 | €222 | €224 | +€1 | +0.7% |
| Amounts payable | 17/49 | €163,065 | €132,150 | -€30,915 | -19.0% |
| Amounts payable after more than one year | 17 | €13,196 | €2,692 | -€10,503 | -79.6% |
| Financial debts | 170/4 | €13,196 | €2,692 | -€10,503 | -79.6% |
| Amounts payable within one year | 42/48 | €149,870 | €127,438 | -€22,432 | -15.0% |
| Current portion of amounts payable after more than one year | 42 | €10,091 | €65,503 | +€55,413 | +549% |
| Trade debts | 44 | €1,263 | €7,061 | +€5,798 | +459% |
| Suppliers | 440/4 | €1,263 | €7,061 | +€5,798 | +459% |
| Taxes, remuneration and social security | 45 | €10,522 | €10,362 | -€160 | -1.5% |
| Taxes | 450/3 | €6,518 | €10,362 | +€3,844 | +59.0% |
| Remuneration and social security | 454/9 | €4,004 | - | -€4,004 | |
| Other amounts payable | 47/48 | €127,995 | €44,512 | -€83,483 | -65.2% |
| Accrued charges and deferred income | 492/3 | - | €2,020 | +€2,020 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,735 | €34,800 | -€4,936 | -12.4% |
| Other operating charges | 640/8 | €2,575 | €1,472 | -€1,102 | -42.8% |
| Gross operating margin | 9900 | €75,954 | €52,673 | -€23,281 | -30.7% |
| Operating profit (loss) | 9901 | €33,644 | €16,401 | -€17,243 | -51.3% |
| Financial income | 75/76B | €428 | €24 | -€404 | -94.4% |
| Recurring financial income | 75 | €428 | €24 | -€404 | -94.4% |
| Financial charges | 65/66B | €6,531 | €5,257 | -€1,273 | -19.5% |
| Recurring financial charges | 65 | €6,531 | €5,257 | -€1,273 | -19.5% |
| Profit (loss) for the period before taxes | 9903 | €27,542 | €11,168 | -€16,374 | -59.5% |
| Income taxes | 67/77 | €7,906 | €5,266 | -€2,640 | -33.4% |
| Profit (loss) for the period | 9904 | €19,636 | €5,901 | -€13,734 | -69.9% |
| Profit (loss) for the period to be appropriated | 9905 | €19,636 | €5,901 | -€13,734 | -69.9% |
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 14 October 2026 via checked.be.