ELICO: 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.
ELICO
Largest movements
- Receivables within one year +€109,126
up €109,126 (+48.3%), from €226,001 to €335,127
of which Trade receivables: +€78,331
- Stocks and contracts -€13,620
down €13,620 (-70.3%), from €19,383 to €5,763
- Trade debts +€127,427
up €127,427 (+243.3%), from €52,368 to €179,795
- Contributions +€90,000
up €90,000 (+50.5%), from €178,130 to €268,130
- Profit (loss) carried forward -€78,499
down €78,499 (-87.5%), from -€89,730 to -€168,229
- Other debts -€51,762
down €51,762 (-83.1%), from €62,321 to €10,559
- Advances received +€4,000
new in 2025: €4,000
- Gross operating margin -€128,605
down €128,605, from €52,632 to -€75,974
- Depreciation -€3,837
down €3,837 (-62.0%), from €6,187 to €2,350
- Financial income -€2,493
down €2,493 (-87.1%), from €2,862 to €369
- Financial charges -€1,104
down €1,104 (-87.1%), from €1,267 to €163
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 | €289,340 | €382,323 | +€92,983 | +32.1% |
| Fixed assets | 21/28 | €18,998 | €16,447 | -€2,551 | -13.4% |
| Tangible fixed assets | 22/27 | €5,258 | €3,167 | -€2,091 | -39.8% |
| Plant, machinery and equipment | 23 | €2,427 | €337 | -€2,091 | -86.1% |
| Other tangible fixed assets | 26 | €2,830 | €2,830 | = | 0.0% |
| Financial fixed assets | 28 | €13,740 | €13,280 | -€460 | -3.3% |
| Current assets | 29/58 | €270,343 | €365,876 | +€95,533 | +35.3% |
| Stocks and contracts in progress | 3 | €19,383 | €5,763 | -€13,620 | -70.3% |
| Stocks | 30/36 | €19,383 | €5,763 | -€13,620 | -70.3% |
| Amounts receivable within one year | 40/41 | €226,001 | €335,127 | +€109,126 | +48.3% |
| Trade receivables | 40 | €163,568 | €241,899 | +€78,331 | +47.9% |
| Other amounts receivable | 41 | €62,433 | €93,228 | +€30,795 | +49.3% |
| Cash at bank and in hand | 54/58 | €24,865 | €24,800 | -€65 | -0.3% |
| Deferred charges and accrued income | 490/1 | €93 | €185 | +€93 | +99.7% |
| Total equity and liabilities | 10/49 | €289,340 | €382,323 | +€92,983 | +32.1% |
| Equity | 10/15 | €173,944 | €185,445 | +€11,501 | +6.6% |
| Contributions | 10/11 | €178,130 | €268,130 | +€90,000 | +50.5% |
| Capital | 10 | €107,590 | - | -€107,590 | |
| Issued capital | 100 | €107,590 | - | -€107,590 | |
| Contributions outside capital | 11 | €70,540 | - | -€70,540 | |
| Share premium | 1100/10 | €35,553 | - | -€35,553 | |
| Other | 1109/19 | €34,987 | - | -€34,987 | |
| Reserves | 13 | €85,544 | €85,544 | = | 0.0% |
| Non-distributable reserves | 130/1 | €759 | €759 | = | 0.0% |
| Legal reserve | 130 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €759 | €759 | = | 0.0% |
| Tax-exempt reserves | 132 | €172 | €172 | = | 0.0% |
| Distributable reserves | 133 | €84,612 | €84,612 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€89,730 | -€168,229 | -€78,499 | -87.5% |
| Amounts payable | 17/49 | €115,396 | €196,878 | +€81,482 | +70.6% |
| Amounts payable within one year | 42/48 | €115,312 | €196,878 | +€81,566 | +70.7% |
| Trade debts | 44 | €52,368 | €179,795 | +€127,427 | +243.3% |
| Suppliers | 440/4 | €52,368 | €179,795 | +€127,427 | +243.3% |
| Advances received on contracts in progress | 46 | - | €4,000 | +€4,000 | |
| Taxes, remuneration and social security | 45 | €623 | €2,524 | +€1,901 | +304.9% |
| Taxes | 450/3 | €623 | €2,524 | +€1,901 | +304.9% |
| Other amounts payable | 47/48 | €62,321 | €10,559 | -€51,762 | -83.1% |
| Accrued charges and deferred income | 492/3 | €84 | €0 | -€84 | -100.0% |
| Remuneration, social security and pensions | 62 | €121 | €0 | -€121 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,187 | €2,350 | -€3,837 | -62.0% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €52,632 | -€75,974 | -€128,605 | |
| Operating profit (loss) | 9901 | €45,936 | -€78,723 | -€124,659 | |
| Financial income | 75/76B | €2,862 | €369 | -€2,493 | -87.1% |
| Recurring financial income | 75 | €2,862 | €369 | -€2,493 | -87.1% |
| Financial charges | 65/66B | €1,267 | €163 | -€1,104 | -87.1% |
| Recurring financial charges | 65 | €1,267 | €163 | -€1,104 | -87.1% |
| Profit (loss) for the period before taxes | 9903 | €47,530 | -€78,517 | -€126,047 | |
| Income taxes | 67/77 | €0 | -€18 | -€18 | |
| Profit (loss) for the period | 9904 | €47,530 | -€78,499 | -€126,029 | |
| Profit (loss) for the period to be appropriated | 9905 | €47,530 | -€78,499 | -€126,029 |
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 9 October 2026 via checked.be.