ELINAZ: what changed
Two fiscal 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.
ELINAZ
Largest movements
- Receivables within one year +€20,193
up €20,193 (+267.5%), from €7,549 to €27,742
of which Trade receivables: +€22,356
- Cash +€1,421
up €1,421 (+6430.9%), from €22 to €1,443
mainly Net result for the year (+€7,702) and Trade debts (+€5,730)
- Tangible fixed assets -€1,400
down €1,400 (-26.3%), from €5,325 to €3,925
- Profit (loss) carried forward +€7,702
up €7,702 (+55.2%), from -€13,948 to -€6,246
- Trade debts +€5,730
up €5,730 (+114.7%), from €4,998 to €10,728
- Other debts +€5,171
up €5,171 (+323.9%), from €1,597 to €6,768
- Tax, wage and social debts +€1,610
new in 2025: €1,610
- Staff costs -€33,299
no longer reported in 2025 (was €33,299)
- Gross operating margin -€11,762
down €11,762 (-55.4%), from €21,228 to €9,466
- Depreciation -€275
down €275 (-16.4%), from €1,675 to €1,400
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 | €17,647 | €37,860 | +€20,213 | +114.5% |
| Fixed assets | 21/28 | €5,325 | €3,925 | -€1,400 | -26.3% |
| Tangible fixed assets | 22/27 | €5,325 | €3,925 | -€1,400 | -26.3% |
| Plant, machinery and equipment | 23 | €5,325 | €3,925 | -€1,400 | -26.3% |
| Current assets | 29/58 | €12,322 | €33,935 | +€21,613 | +175.4% |
| Stocks and contracts in progress | 3 | €4,750 | €4,750 | = | 0.0% |
| Stocks | 30/36 | €4,750 | €4,750 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €7,549 | €27,742 | +€20,193 | +267.5% |
| Trade receivables | 40 | €5,386 | €27,742 | +€22,356 | +415.1% |
| Other amounts receivable | 41 | €2,163 | - | -€2,163 | |
| Cash at bank and in hand | 54/58 | €22 | €1,443 | +€1,421 | +6430.9% |
| Total equity and liabilities | 10/49 | €17,647 | €37,860 | +€20,213 | +114.5% |
| Equity | 10/15 | €11,052 | €18,754 | +€7,702 | +69.7% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Capital | 10 | €25,000 | €25,000 | = | 0.0% |
| Issued capital | 100 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,948 | -€6,246 | +€7,702 | +55.2% |
| Amounts payable | 17/49 | €6,595 | €19,106 | +€12,511 | +189.7% |
| Amounts payable within one year | 42/48 | €6,595 | €19,106 | +€12,511 | +189.7% |
| Trade debts | 44 | €4,998 | €10,728 | +€5,730 | +114.7% |
| Suppliers | 440/4 | €4,998 | €10,728 | +€5,730 | +114.7% |
| Taxes, remuneration and social security | 45 | - | €1,610 | +€1,610 | |
| Taxes | 450/3 | - | €1,610 | +€1,610 | |
| Other amounts payable | 47/48 | €1,597 | €6,768 | +€5,171 | +323.9% |
| Remuneration, social security and pensions | 62 | €33,299 | - | -€33,299 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,675 | €1,400 | -€275 | -16.4% |
| Other operating charges | 640/8 | €62 | €62 | = | 0.0% |
| Gross operating margin | 9900 | €21,228 | €9,466 | -€11,762 | -55.4% |
| Operating profit (loss) | 9901 | -€13,808 | €8,004 | +€21,812 | |
| Financial charges | 65/66B | €140 | €302 | +€162 | +115.6% |
| Recurring financial charges | 65 | €140 | €302 | +€162 | +115.6% |
| Profit (loss) for the period before taxes | 9903 | -€13,948 | €7,702 | +€21,650 | |
| Profit (loss) for the period | 9904 | -€13,948 | €7,702 | +€21,650 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,948 | €7,702 | +€21,650 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.