ELI-INVEST: 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.
ELI-INVEST
Largest movements
- Receivables within one year -€33,566
no longer reported in 2025 (was €33,566)
- Tangible fixed assets +€10,828
up €10,828 (+1.6%), from €663,101 to €673,929
of which Other tangible fixed assets: +€22,074
- Debts after one year -€32,241
down €32,241 (-5.7%), from €562,390 to €530,149
- Trade debts +€7,085
up €7,085 (+591.0%), from €1,199 to €8,284
- Gross operating margin +€18,093
up €18,093 (+45.1%), from €40,120 to €58,213
- Depreciation +€4,956
up €4,956 (+17.7%), from €27,931 to €32,887
- Financial charges +€1,332
up €1,332 (+7.0%), from €19,130 to €20,462
- Other operating charges -€764
down €764 (-12.1%), from €6,306 to €5,541
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 | €699,254 | €677,044 | -€22,210 | -3.2% |
| Fixed assets | 21/28 | €663,101 | €673,929 | +€10,828 | +1.6% |
| Tangible fixed assets | 22/27 | €663,101 | €673,929 | +€10,828 | +1.6% |
| Land and buildings | 22 | €266,610 | €258,779 | -€7,831 | -2.9% |
| Plant, machinery and equipment | 23 | €204 | €104 | -€100 | -48.8% |
| Furniture and vehicles | 24 | €13,300 | €9,985 | -€3,315 | -24.9% |
| Other tangible fixed assets | 26 | €382,986 | €405,060 | +€22,074 | +5.8% |
| Current assets | 29/58 | €36,154 | €3,115 | -€33,039 | -91.4% |
| Amounts receivable within one year | 40/41 | €33,566 | - | -€33,566 | |
| Other amounts receivable | 41 | €33,566 | - | -€33,566 | |
| Cash at bank and in hand | 54/58 | €2,215 | €2,773 | +€558 | +25.2% |
| Deferred charges and accrued income | 490/1 | €372 | €342 | -€31 | -8.2% |
| Total equity and liabilities | 10/49 | €699,254 | €677,044 | -€22,210 | -3.2% |
| Equity | 10/15 | -€133,326 | -€134,081 | -€755 | -0.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | - | -€18,600 | |
| Other | 1109/19 | €18,600 | - | -€18,600 | |
| Revaluation surpluses | 12 | €46,419 | €44,003 | -€2,415 | -5.2% |
| Reserves | 13 | €23,618 | €26,033 | +€2,415 | +10.2% |
| Non-distributable reserves | 130/1 | €23,618 | €24,174 | +€556 | +2.4% |
| Legal reserve | 130 | €1,859 | - | -€1,859 | |
| Reserves not available under the articles | 1311 | €21,759 | €24,174 | +€2,415 | +11.1% |
| Distributable reserves | 133 | - | €1,859 | +€1,859 | |
| Profit (loss) carried forward | 14 | -€221,963 | -€222,718 | -€755 | -0.3% |
| Amounts payable | 17/49 | €832,580 | €811,125 | -€21,456 | -2.6% |
| Amounts payable after more than one year | 17 | €562,390 | €530,149 | -€32,241 | -5.7% |
| Financial debts | 170/4 | €562,390 | €530,149 | -€32,241 | -5.7% |
| Amounts payable within one year | 42/48 | €266,347 | €277,613 | +€11,266 | +4.2% |
| Current portion of amounts payable after more than one year | 42 | €27,850 | €30,546 | +€2,696 | +9.7% |
| Trade debts | 44 | €1,199 | €8,284 | +€7,085 | +591.0% |
| Suppliers | 440/4 | €1,199 | €8,284 | +€7,085 | +591.0% |
| Taxes, remuneration and social security | 45 | €463 | €482 | +€19 | +4.1% |
| Taxes | 450/3 | €463 | €482 | +€19 | +4.1% |
| Other amounts payable | 47/48 | €236,836 | €238,302 | +€1,466 | +0.6% |
| Accrued charges and deferred income | 492/3 | €3,844 | €3,363 | -€481 | -12.5% |
| Non-recurring operating income | 76A | €800 | - | -€800 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,931 | €32,887 | +€4,956 | +17.7% |
| Other operating charges | 640/8 | €6,306 | €5,541 | -€764 | -12.1% |
| Gross operating margin | 9900 | €40,120 | €58,213 | +€18,093 | +45.1% |
| Operating profit (loss) | 9901 | €5,883 | €19,785 | +€13,901 | +236.3% |
| Financial income | 75/76B | - | €204 | +€204 | |
| Recurring financial income | 75 | - | €204 | +€204 | |
| Financial charges | 65/66B | €19,130 | €20,462 | +€1,332 | +7.0% |
| Recurring financial charges | 65 | €19,130 | €20,462 | +€1,332 | +7.0% |
| Profit (loss) for the period before taxes | 9903 | -€13,247 | -€473 | +€12,774 | +96.4% |
| Income taxes | 67/77 | €200 | €282 | +€82 | +41.1% |
| Profit (loss) for the period | 9904 | -€13,446 | -€755 | +€12,692 | +94.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,446 | -€755 | +€12,692 | +94.4% |
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 8 October 2026 via checked.be.