Elina: 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.
Elina
Largest movements
- Receivables within one year +€23,849
up €23,849 (+264%), from €9,026 to €32,875
of which Trade receivables: +€30,349
- Intangible fixed assets -€5,000
down €5,000 (-14.3%), from €35,000 to €30,000
- Cash -€3,479
down €3,479 (-33.7%), from €10,312 to €6,833
mainly Receivables within one year (-€23,849) and Tax, wage and social debts (-€6,428)
- Tangible fixed assets -€3,298
down €3,298 (-27.3%), from €12,070 to €8,772
- Deferred charges and accrued income -€1,086
no longer reported in 2025 (was €1,086)
- Other debts +€11,381
up €11,381 (+25.7%), from €44,220 to €55,601
- Tax, wage and social debts -€6,428
down €6,428 (-43.2%), from €14,865 to €8,437
- Trade debts +€5,187
up €5,187, from €0 to €5,187
- Accrued charges and deferred income +€4,416
new in 2025: €4,416
- Debts after one year -€4,103
down €4,103 (-38.2%), from €10,742 to €6,639
- Other operating charges -€5,613
down €5,613 (-79.6%), from €7,054 to €1,441
- Gross operating margin -€3,814
down €3,814 (-20.5%), from €18,648 to €14,834
- Financial charges +€2,050
up €2,050 (+83.0%), from €2,471 to €4,521
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 | €92,298 | €102,806 | +€10,508 | +11.4% |
| Fixed assets | 21/28 | €53,220 | €44,922 | -€8,298 | -15.6% |
| Intangible fixed assets | 21 | €35,000 | €30,000 | -€5,000 | -14.3% |
| Tangible fixed assets | 22/27 | €12,070 | €8,772 | -€3,298 | -27.3% |
| Furniture and vehicles | 24 | €12,070 | €8,772 | -€3,298 | -27.3% |
| Financial fixed assets | 28 | €6,150 | €6,150 | = | 0.0% |
| Current assets | 29/58 | €39,078 | €57,884 | +€18,806 | +48.1% |
| Stocks and contracts in progress | 3 | €18,654 | €18,176 | -€478 | -2.6% |
| Stocks | 30/36 | €18,654 | €18,176 | -€478 | -2.6% |
| Amounts receivable within one year | 40/41 | €9,026 | €32,875 | +€23,849 | +264% |
| Trade receivables | 40 | - | €30,349 | +€30,349 | |
| Other amounts receivable | 41 | €9,026 | €2,526 | -€6,500 | -72.0% |
| Cash at bank and in hand | 54/58 | €10,312 | €6,833 | -€3,479 | -33.7% |
| Deferred charges and accrued income | 490/1 | €1,086 | - | -€1,086 | |
| Total equity and liabilities | 10/49 | €92,298 | €102,806 | +€10,508 | +11.4% |
| Equity | 10/15 | €17,986 | €18,424 | +€438 | +2.4% |
| Contributions | 10/11 | €2,286 | €1,500 | -€786 | -34.4% |
| Reserves | 13 | - | €786 | +€786 | |
| Non-distributable reserves | 130/1 | - | €786 | +€786 | |
| Reserves not available under the articles | 1311 | - | €786 | +€786 | |
| Profit (loss) carried forward | 14 | €15,700 | €16,138 | +€438 | +2.8% |
| Amounts payable | 17/49 | €74,312 | €84,382 | +€10,070 | +13.6% |
| Amounts payable after more than one year | 17 | €10,742 | €6,639 | -€4,103 | -38.2% |
| Financial debts | 170/4 | €10,742 | €6,639 | -€4,103 | -38.2% |
| Amounts payable within one year | 42/48 | €63,570 | €73,327 | +€9,757 | +15.3% |
| Current portion of amounts payable after more than one year | 42 | €4,485 | €4,102 | -€383 | -8.5% |
| Trade debts | 44 | €0 | €5,187 | +€5,187 | |
| Suppliers | 440/4 | €0 | €5,187 | +€5,187 | |
| Taxes, remuneration and social security | 45 | €14,865 | €8,437 | -€6,428 | -43.2% |
| Taxes | 450/3 | €14,865 | €8,437 | -€6,428 | -43.2% |
| Other amounts payable | 47/48 | €44,220 | €55,601 | +€11,381 | +25.7% |
| Accrued charges and deferred income | 492/3 | - | €4,416 | +€4,416 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,298 | €8,298 | = | 0.0% |
| Other operating charges | 640/8 | €7,054 | €1,441 | -€5,613 | -79.6% |
| Gross operating margin | 9900 | €18,648 | €14,834 | -€3,814 | -20.5% |
| Operating profit (loss) | 9901 | €3,296 | €5,095 | +€1,799 | +54.6% |
| Financial income | 75/76B | €14 | €62 | +€48 | +343% |
| Recurring financial income | 75 | €14 | €62 | +€48 | +343% |
| Financial charges | 65/66B | €2,471 | €4,521 | +€2,050 | +83.0% |
| Recurring financial charges | 65 | €2,471 | €4,521 | +€2,050 | +83.0% |
| Profit (loss) for the period before taxes | 9903 | €839 | €636 | -€203 | -24.2% |
| Income taxes | 67/77 | €168 | €198 | +€30 | +17.9% |
| Profit (loss) for the period | 9904 | €671 | €438 | -€233 | -34.7% |
| Profit (loss) for the period to be appropriated | 9905 | €671 | €438 | -€233 | -34.7% |
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 17 October 2026 via checked.be.