ELIF PALACE: 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.
ELIF PALACE
Largest movements
- Cash -€46,352
down €46,352 (-85.2%), from €54,375 to €8,023
mainly Debts after one year (-€290,394) and Receivables within one year (-€38,270)
- Tangible fixed assets -€44,862
down €44,862 (-3.2%), from €1.4m to €1.4m
- Receivables within one year +€38,270
up €38,270 (+31.4%), from €121,973 to €160,243
of which Trade receivables: +€37,280
- Debts after one year -€290,394
down €290,394 (-21.4%), from €1.4m to €1.1m
of which Financial debts: -€152,394
- Accrued charges and deferred income +€158,918
up €158,918 (+102%), from €155,301 to €314,219
- Profit (loss) carried forward +€112,318
no longer reported in 2025 (was -€112,318)
- Gross operating margin +€82,460
up €82,460 (+37.4%), from €220,264 to €302,725
- Financial charges +€27,201
up €27,201 (+67.3%), from €40,397 to €67,599
of which Financial charges: +€27,327
- Depreciation +€15,745
up €15,745 (+29.4%), from €53,554 to €69,299
- Taxes +€6,039
new in 2025: €6,039
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 | €1,599,559 | €1,546,745 | -€52,814 | -3.3% |
| Fixed assets | 21/28 | €1,416,451 | €1,371,589 | -€44,862 | -3.2% |
| Tangible fixed assets | 22/27 | €1,416,451 | €1,371,589 | -€44,862 | -3.2% |
| Land and buildings | 22 | €1,279,403 | €1,259,986 | -€19,417 | -1.5% |
| Plant, machinery and equipment | 23 | €31,889 | €23,271 | -€8,618 | -27.0% |
| Furniture and vehicles | 24 | €105,158 | €88,331 | -€16,827 | -16.0% |
| Current assets | 29/58 | €183,108 | €175,156 | -€7,951 | -4.3% |
| Amounts receivable within one year | 40/41 | €121,973 | €160,243 | +€38,270 | +31.4% |
| Trade receivables | 40 | €119,970 | €157,250 | +€37,280 | +31.1% |
| Other amounts receivable | 41 | €2,003 | €2,993 | +€990 | +49.4% |
| Cash at bank and in hand | 54/58 | €54,375 | €8,023 | -€46,352 | -85.2% |
| Deferred charges and accrued income | 490/1 | €6,760 | €6,890 | +€130 | +1.9% |
| Total equity and liabilities | 10/49 | €1,599,559 | €1,546,745 | -€52,814 | -3.3% |
| Equity | 10/15 | -€56,995 | €39,590 | +€96,585 | |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €45,323 | €29,590 | -€15,733 | -34.7% |
| Distributable reserves | 133 | €45,323 | €29,590 | -€15,733 | -34.7% |
| Profit (loss) carried forward | 14 | -€112,318 | - | +€112,318 | |
| Amounts payable | 17/49 | €1,656,554 | €1,507,155 | -€149,399 | -9.0% |
| Amounts payable after more than one year | 17 | €1,359,181 | €1,068,787 | -€290,394 | -21.4% |
| Financial debts | 170/4 | €811,181 | €658,787 | -€152,394 | -18.8% |
| Other amounts payable | 178/9 | €548,000 | €410,000 | -€138,000 | -25.2% |
| Amounts payable within one year | 42/48 | €142,072 | €124,149 | -€17,923 | -12.6% |
| Current portion of amounts payable after more than one year | 42 | €84,565 | €80,129 | -€4,435 | -5.2% |
| Trade debts | 44 | €33,998 | €22,774 | -€11,225 | -33.0% |
| Suppliers | 440/4 | €33,998 | €22,774 | -€11,225 | -33.0% |
| Advances received on contracts in progress | 46 | €4,500 | €2,000 | -€2,500 | -55.6% |
| Taxes, remuneration and social security | 45 | €13,000 | €11,270 | -€1,730 | -13.3% |
| Taxes | 450/3 | €11,200 | €11,270 | +€70 | +0.6% |
| Remuneration and social security | 454/9 | €1,800 | - | -€1,800 | |
| Other amounts payable | 47/48 | €6,009 | €7,976 | +€1,966 | +32.7% |
| Accrued charges and deferred income | 492/3 | €155,301 | €314,219 | +€158,918 | +102% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,554 | €69,299 | +€15,745 | +29.4% |
| Other operating charges | 640/8 | €10,164 | €12,425 | +€2,261 | +22.2% |
| Non-recurring operating charges | 66A | - | €50,783 | +€50,783 | |
| Gross operating margin | 9900 | €220,264 | €302,725 | +€82,460 | +37.4% |
| Operating profit (loss) | 9901 | €156,545 | €170,218 | +€13,672 | +8.7% |
| Financial income | 75/76B | €31 | €5 | -€26 | -83.8% |
| Recurring financial income | 75 | €31 | €5 | -€26 | -83.8% |
| Financial charges | 65/66B | €40,397 | €67,599 | +€27,201 | +67.3% |
| Recurring financial charges | 65 | €40,271 | €67,599 | +€27,327 | +67.9% |
| Non-recurring financial charges | 66B | €126 | - | -€126 | |
| Profit (loss) for the period before taxes | 9903 | €116,179 | €102,624 | -€13,555 | -11.7% |
| Income taxes | 67/77 | - | €6,039 | +€6,039 | |
| Profit (loss) for the period | 9904 | €116,179 | €96,585 | -€19,594 | -16.9% |
| Profit (loss) for the period to be appropriated | 9905 | €116,179 | €96,585 | -€19,594 | -16.9% |
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 20 October 2026 via checked.be.