Elicio WP: 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.
What changed
Elicio WP
NACE 35.110, Production of electricity from non-renewable sources
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€690,842
2024 · €1.0m-€339,877
Equity
€4.0m
2024 · €3.3m+€690,842
Cash
€488,726
2024 · €702,133-€213,407
Balance sheet total
€15.5m
2024 · €16.8m-€1.4m
Largest movements
Assets
- Current investments -€2.0m
down €2.0m (-66.6%), from €3.1m to €1.0m
- Tangible fixed assets +€538,965
up €538,965 (+4.9%), from €10.9m to €11.5m
of which Assets under construction and advance payments: +€1.8m
- Receivables within one year +€327,194
up €327,194 (+17.6%), from €1.9m to €2.2m
of which Trade receivables: +€258,315
- Cash -€213,407
down €213,407 (-30.4%), from €702,133 to €488,726
mainly Other debts (-€2.4m) and Investment in fixed assets (net) (-€1.8m)
Equity and liabilities
- Other debts -€2.4m
no longer reported in 2025 (was €2.4m)
- Profit (loss) carried forward +€690,842
up €690,842 (+46.7%), from €1.5m to €2.2m
- Debts after one year +€647,392
up €647,392 (+8.3%), from €7.8m to €8.5m
- Tax, wage and social debts -€355,770
down €355,770 (-76.5%), from €464,792 to €109,022
Income statement
- Turnover -€6.0m
no longer reported in 2025 (was €6.0m)
- Services and other goods -€2.8m
no longer reported in 2025 (was €2.8m)
- Gross operating margin +€2.3m
new in 2025: €2.3m
- Depreciation -€528,060
down €528,060 (-29.5%), from €1.8m to €1.3m
- Financial income -€160,384
down €160,384 (-80.9%), from €198,262 to €37,878
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.
Result 2024
€1.0m
Turnover
-€6.0m
Other operating income
-€37,943
Services and other goods
+€2.8m
Depreciation
+€528,060
Provisions
+€2,434
Other operating charges
+€49,904
Other operating items
+€2.3m
Financial income
-€160,384
Financial charges
+€41,187
Taxes
+€113,292
Result 2025
€690,842
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€1.1m
Investment
+€244,943
Financing
+€660,822
Cash 2024
€702,133
From operations (derived)
-€1.1m
Net result for the year
+€690,842
Depreciation
+€1.3m
Receivables within one year
-€327,194
Deferred charges and accrued income
-€40,085
Provisions
+€52,733
Trade debts
-€61,455
Tax, wage and social debts
-€355,770
Other debts
-€2.4m
Accrued charges and deferred income
+€6,963
Investment (derived)
+€244,943
Investment in fixed assets (net)
-€1.8m
Current investments
+€2.0m
Financing
+€660,822
Debts after one year
+€647,392
Current portion of long-term debt
+€13,430
Cash 2025
€488,726
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €16,830,747 | €15,474,882 | -€1.4m | -8.1% |
| Fixed assets | 21/28 | €10,951,790 | €11,490,755 | +€538,965 | +4.9% |
| Tangible fixed assets | 22/27 | €10,945,590 | €11,484,555 | +€538,965 | +4.9% |
| Plant, machinery and equipment | 23 | €2,023,772 | €1,607,258 | -€416,514 | -20.6% |
| Leasing and similar rights | 25 | €8,866,536 | €8,028,753 | -€837,783 | -9.4% |
| Assets under construction and advance payments | 27 | €55,282 | €1,848,544 | +€1.8m | +3,244% |
| Financial fixed assets | 28 | €6,200 | €6,200 | = | 0.0% |
| Other financial fixed assets | 284/8 | €6,200 | - | -€6,200 | |
| Amounts receivable and cash guarantees | 285/8 | €6,200 | - | -€6,200 | |
| Current assets | 29/58 | €5,878,957 | €3,984,128 | -€1.9m | -32.2% |
| Amounts receivable within one year | 40/41 | €1,864,118 | €2,191,312 | +€327,194 | +17.6% |
| Trade receivables | 40 | €1,823,212 | €2,081,527 | +€258,315 | +14.2% |
| Other amounts receivable | 41 | €40,906 | €109,785 | +€68,879 | +168% |
| Current investments | 50/53 | €3,076,893 | €1,028,191 | -€2.0m | -66.6% |
| Other investments | 51/53 | €3,076,893 | - | -€3.1m | |
| Cash at bank and in hand | 54/58 | €702,133 | €488,726 | -€213,407 | -30.4% |
| Deferred charges and accrued income | 490/1 | €235,814 | €275,899 | +€40,085 | +17.0% |
| Total equity and liabilities | 10/49 | €16,830,747 | €15,474,882 | -€1.4m | -8.1% |
| Equity | 10/15 | €3,323,263 | €4,014,105 | +€690,842 | +20.8% |
| Contributions | 10/11 | €1,675,000 | €1,675,000 | = | 0.0% |
| Capital | 10 | €1,675,000 | €1,675,000 | = | 0.0% |
| Issued capital | 100 | €1,675,000 | €1,675,000 | = | 0.0% |
| Reserves | 13 | €167,500 | €167,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €167,500 | €167,500 | = | 0.0% |
| Legal reserve | 130 | €167,500 | €167,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,480,763 | €2,171,605 | +€690,842 | +46.7% |
| Provisions and deferred taxes | 16 | €616,178 | €668,911 | +€52,733 | +8.6% |
| Provisions for liabilities and charges | 160/5 | €616,178 | €668,911 | +€52,733 | +8.6% |
| Other liabilities and charges | 164/5 | €616,178 | €668,911 | +€52,733 | +8.6% |
| Amounts payable | 17/49 | €12,891,306 | €10,791,866 | -€2.1m | -16.3% |
| Amounts payable after more than one year | 17 | €7,815,926 | €8,463,318 | +€647,392 | +8.3% |
| Financial debts | 170/4 | €7,815,926 | €8,463,318 | +€647,392 | +8.3% |
| Subordinated loans | 170 | €29,343 | - | -€29,343 | |
| Leasing and similar obligations | 172 | €6,117,745 | - | -€6.1m | |
| Credit institutions | 173 | €1,668,839 | - | -€1.7m | |
| Amounts payable within one year | 42/48 | €5,072,991 | €2,319,196 | -€2.8m | -54.3% |
| Current portion of amounts payable after more than one year | 42 | €999,920 | €1,013,350 | +€13,430 | +1.3% |
| Trade debts | 44 | €1,258,279 | €1,196,824 | -€61,455 | -4.9% |
| Suppliers | 440/4 | €1,258,279 | €1,196,824 | -€61,455 | -4.9% |
| Taxes, remuneration and social security | 45 | €464,792 | €109,022 | -€355,770 | -76.5% |
| Taxes | 450/3 | €464,792 | €109,022 | -€355,770 | -76.5% |
| Other amounts payable | 47/48 | €2,350,000 | - | -€2.4m | |
| Accrued charges and deferred income | 492/3 | €2,389 | €9,352 | +€6,963 | +291% |
| Operating income | 70/76A | €6,026,555 | - | -€6.0m | |
| Turnover | 70 | €5,988,613 | - | -€6.0m | |
| Other operating income | 74 | €37,943 | - | -€37,943 | |
| Operating charges | 60/66A | €4,713,817 | - | -€4.7m | |
| Services and other goods | 61 | €2,773,957 | - | -€2.8m | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,792,855 | €1,264,795 | -€528,060 | -29.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €55,167 | €52,733 | -€2,434 | -4.4% |
| Other operating charges | 640/8 | €91,838 | €41,934 | -€49,904 | -54.3% |
| Gross operating margin | 9900 | - | €2,338,227 | +€2.3m | |
| Operating profit (loss) | 9901 | €1,312,738 | €978,765 | -€333,973 | -25.4% |
| Financial income | 75/76B | €198,262 | €37,878 | -€160,384 | -80.9% |
| Recurring financial income | 75 | €198,262 | €37,878 | -€160,384 | -80.9% |
| Income from current assets | 751 | €198,262 | - | -€198,262 | |
| Financial charges | 65/66B | €136,708 | €95,521 | -€41,187 | -30.1% |
| Recurring financial charges | 65 | €136,708 | €95,521 | -€41,187 | -30.1% |
| Debt charges | 650 | €133,011 | - | -€133,011 | |
| Other financial charges | 652/9 | €3,697 | - | -€3,697 | |
| Profit (loss) for the period before taxes | 9903 | €1,374,292 | €921,122 | -€453,170 | -33.0% |
| Income taxes | 67/77 | €343,573 | €230,281 | -€113,292 | -33.0% |
| Taxes | 670/3 | €343,573 | - | -€343,573 | |
| Profit (loss) for the period | 9904 | €1,030,719 | €690,842 | -€339,877 | -33.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,030,719 | €690,842 | -€339,877 | -33.0% |
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 20 October 2026 via checked.be.