ELIBELA: 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.
ELIBELA
Largest movements
- Cash +€8,479
up €8,479 (+93.2%), from €9,100 to €17,579
mainly Tax, wage and social debts (+€6,870) and Trade debts (+€2,658)
- Stocks and contracts +€2,503
up €2,503 (+42.8%), from €5,848 to €8,352
- Receivables within one year -€1,092
no longer reported in 2025 (was €1,092)
- Tangible fixed assets -€887
down €887 (-21.0%), from €4,219 to €3,332
- Tax, wage and social debts +€6,870
up €6,870 (+344%), from €1,997 to €8,868
of which Remuneration and social security: +€6,400
- Trade debts +€2,658
up €2,658 (+267%), from €995 to €3,653
- Profit (loss) carried forward -€1,218
down €1,218 (-94.9%), from -€1,284 to -€2,502
- Other debts +€694
new in 2025: €694
- Gross operating margin -€4,043
down €4,043 (-38.5%), from €10,490 to €6,446
- Staff costs +€3,877
new in 2025: €3,877
- Other operating charges -€390
down €390 (-26.9%), from €1,452 to €1,062
- Depreciation +€329
up €329 (+17.6%), from €1,875 to €2,204
- Financial charges +€184
up €184 (+54.6%), from €338 to €522
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 | €20,308 | €29,312 | +€9,004 | +44.3% |
| Fixed assets | 21/28 | €4,269 | €3,382 | -€887 | -20.8% |
| Tangible fixed assets | 22/27 | €4,219 | €3,332 | -€887 | -21.0% |
| Furniture and vehicles | 24 | €4,219 | €3,332 | -€887 | -21.0% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €16,040 | €25,930 | +€9,891 | +61.7% |
| Stocks and contracts in progress | 3 | €5,848 | €8,352 | +€2,503 | +42.8% |
| Stocks | 30/36 | €5,848 | €8,352 | +€2,503 | +42.8% |
| Amounts receivable within one year | 40/41 | €1,092 | - | -€1,092 | |
| Other amounts receivable | 41 | €1,092 | - | -€1,092 | |
| Cash at bank and in hand | 54/58 | €9,100 | €17,579 | +€8,479 | +93.2% |
| Total equity and liabilities | 10/49 | €20,308 | €29,312 | +€9,004 | +44.3% |
| Equity | 10/15 | €17,316 | €16,098 | -€1,218 | -7.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,284 | -€2,502 | -€1,218 | -94.9% |
| Amounts payable | 17/49 | €2,992 | €13,214 | +€10,222 | +342% |
| Amounts payable within one year | 42/48 | €2,992 | €13,214 | +€10,222 | +342% |
| Trade debts | 44 | €995 | €3,653 | +€2,658 | +267% |
| Suppliers | 440/4 | €995 | €3,653 | +€2,658 | +267% |
| Taxes, remuneration and social security | 45 | €1,997 | €8,868 | +€6,870 | +344% |
| Taxes | 450/3 | €1,997 | €2,468 | +€470 | +23.6% |
| Remuneration and social security | 454/9 | - | €6,400 | +€6,400 | |
| Other amounts payable | 47/48 | - | €694 | +€694 | |
| Remuneration, social security and pensions | 62 | - | €3,877 | +€3,877 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,875 | €2,204 | +€329 | +17.6% |
| Other operating charges | 640/8 | €1,452 | €1,062 | -€390 | -26.9% |
| Gross operating margin | 9900 | €10,490 | €6,446 | -€4,043 | -38.5% |
| Operating profit (loss) | 9901 | €7,163 | -€696 | -€7,859 | |
| Financial charges | 65/66B | €338 | €522 | +€184 | +54.6% |
| Recurring financial charges | 65 | €338 | €522 | +€184 | +54.6% |
| Profit (loss) for the period before taxes | 9903 | €6,825 | -€1,218 | -€8,043 | |
| Profit (loss) for the period | 9904 | €6,825 | -€1,218 | -€8,043 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,825 | -€1,218 | -€8,043 |
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 21 October 2026 via checked.be.