ELIMATH: 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.
ELIMATH
Largest movements
- Cash +€1.0m
up €1.0m (+59.5%), from €1.7m to €2.8m
mainly Net result for the year (+€915,760) and Current investments (+€508,662)
- Current investments -€508,662
down €508,662 (-32.6%), from €1.6m to €1.1m
- Receivables within one year +€70,481
up €70,481 (+9.8%), from €716,467 to €786,949
of which Trade receivables: +€70,477
- Reserves +€525,191
up €525,191 (+13.1%), from €4.0m to €4.5m
- Accrued charges and deferred income +€60,624
new in 2025: €60,624
- Other debts +€56,340
up €56,340 (+158.0%), from €35,656 to €91,996
- Financial income +€25,703
up €25,703 (+187.8%), from €13,686 to €39,388
- Gross operating margin -€23,484
down €23,484 (-1.8%), from €1.3m to €1.3m
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 | €4,174,605 | €4,767,840 | +€593,235 | +14.2% |
| Fixed assets | 21/28 | €155,322 | €141,057 | -€14,264 | -9.2% |
| Tangible fixed assets | 22/27 | €35,322 | €21,057 | -€14,264 | -40.4% |
| Furniture and vehicles | 24 | €35,322 | €21,057 | -€14,264 | -40.4% |
| Financial fixed assets | 28 | €120,000 | €120,000 | = | 0.0% |
| Current assets | 29/58 | €4,019,284 | €4,626,783 | +€607,500 | +15.1% |
| Amounts receivable within one year | 40/41 | €716,467 | €786,949 | +€70,481 | +9.8% |
| Trade receivables | 40 | €716,467 | €786,945 | +€70,477 | +9.8% |
| Other amounts receivable | 41 | - | €4 | +€4 | |
| Current investments | 50/53 | €1,558,662 | €1,050,000 | -€508,662 | -32.6% |
| Cash at bank and in hand | 54/58 | €1,742,911 | €2,779,884 | +€1.0m | +59.5% |
| Deferred charges and accrued income | 490/1 | €1,244 | €9,950 | +€8,706 | +699.9% |
| Total equity and liabilities | 10/49 | €4,174,605 | €4,767,840 | +€593,235 | +14.2% |
| Equity | 10/15 | €4,032,401 | €4,557,592 | +€525,191 | +13.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €4,013,801 | €4,538,992 | +€525,191 | +13.1% |
| Distributable reserves | 133 | €4,013,801 | €4,538,992 | +€525,191 | +13.1% |
| Amounts payable | 17/49 | €142,204 | €210,248 | +€68,044 | +47.8% |
| Amounts payable within one year | 42/48 | €142,204 | €149,624 | +€7,420 | +5.2% |
| Trade debts | 44 | €5,857 | €1,687 | -€4,170 | -71.2% |
| Suppliers | 440/4 | €5,857 | €1,687 | -€4,170 | -71.2% |
| Taxes, remuneration and social security | 45 | €100,691 | €55,941 | -€44,750 | -44.4% |
| Taxes | 450/3 | €100,691 | €55,941 | -€44,750 | -44.4% |
| Other amounts payable | 47/48 | €35,656 | €91,996 | +€56,340 | +158.0% |
| Accrued charges and deferred income | 492/3 | - | €60,624 | +€60,624 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,337 | €14,264 | -€72 | -0.5% |
| Other operating charges | 640/8 | €1,040 | €1,368 | +€328 | +31.5% |
| Gross operating margin | 9900 | €1,340,579 | €1,317,096 | -€23,484 | -1.8% |
| Operating profit (loss) | 9901 | €1,325,202 | €1,301,463 | -€23,739 | -1.8% |
| Financial income | 75/76B | €13,686 | €39,388 | +€25,703 | +187.8% |
| Recurring financial income | 75 | €13,686 | €39,388 | +€25,703 | +187.8% |
| Financial charges | 65/66B | €2,558 | €2,673 | +€115 | +4.5% |
| Recurring financial charges | 65 | €2,558 | €2,673 | +€115 | +4.5% |
| Profit (loss) for the period before taxes | 9903 | €1,336,330 | €1,338,179 | +€1,849 | +0.1% |
| Income taxes | 67/77 | €421,941 | €422,418 | +€478 | +0.1% |
| Profit (loss) for the period | 9904 | €914,389 | €915,760 | +€1,371 | +0.1% |
| Profit (loss) for the period to be appropriated | 9905 | €914,389 | €915,760 | +€1,371 | +0.1% |
Source: filed annual accounts (NBB), financial years ended 31 July 2024 and 31 July 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.