ELIPE: 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.
ELIPE
Largest movements
- Financial fixed assets +€820,579
new in 2025: €820,579
- Receivables within one year +€305,541
up €305,541 (+601.4%), from €50,803 to €356,344
- Current investments +€120,000
new in 2025: €120,000
- Cash -€111,247
down €111,247 (-70.2%), from €158,555 to €47,308
mainly Investment in fixed assets (net) (-€819,943) and Receivables within one year (-€305,541)
- Debts after one year +€1.2m
new in 2025: €1.2m
- Other debts -€97,478
down €97,478 (-97.5%), from €100,000 to €2,522
- Profit (loss) carried forward +€60,216
up €60,216 (+79.6%), from €75,680 to €135,896
- Gross operating margin -€132,323
down €132,323 (-64.2%), from €206,178 to €73,855
- Taxes +€13,756
new in 2025: €13,756
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 | €216,843 | €1,350,922 | +€1.1m | +523.0% |
| Fixed assets | 21/28 | €7,392 | €827,060 | +€819,668 | +11088.7% |
| Tangible fixed assets | 22/27 | €7,392 | €6,482 | -€910 | -12.3% |
| Furniture and vehicles | 24 | €6,684 | €5,949 | -€735 | -11.0% |
| Other tangible fixed assets | 26 | €708 | €533 | -€175 | -24.7% |
| Financial fixed assets | 28 | - | €820,579 | +€820,579 | |
| Current assets | 29/58 | €209,452 | €523,862 | +€314,410 | +150.1% |
| Amounts receivable within one year | 40/41 | €50,803 | €356,344 | +€305,541 | +601.4% |
| Other amounts receivable | 41 | €50,803 | €356,344 | +€305,541 | +601.4% |
| Current investments | 50/53 | - | €120,000 | +€120,000 | |
| Cash at bank and in hand | 54/58 | €158,555 | €47,308 | -€111,247 | -70.2% |
| Deferred charges and accrued income | 490/1 | €93 | €209 | +€116 | +125.2% |
| Total equity and liabilities | 10/49 | €216,843 | €1,350,922 | +€1.1m | +523.0% |
| Equity | 10/15 | €94,280 | €154,496 | +€60,216 | +63.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €75,680 | €135,896 | +€60,216 | +79.6% |
| Amounts payable | 17/49 | €122,563 | €1,196,426 | +€1.1m | +876.2% |
| Amounts payable after more than one year | 17 | - | €1,172,000 | +€1.2m | |
| Financial debts | 170/4 | - | €1,172,000 | +€1.2m | |
| Amounts payable within one year | 42/48 | €109,661 | €24,142 | -€85,519 | -78.0% |
| Trade debts | 44 | €140 | €8,620 | +€8,479 | +6039.7% |
| Suppliers | 440/4 | €140 | €8,620 | +€8,479 | +6039.7% |
| Taxes, remuneration and social security | 45 | €9,521 | €13,000 | +€3,479 | +36.5% |
| Taxes | 450/3 | €9,521 | €13,000 | +€3,479 | +36.5% |
| Other amounts payable | 47/48 | €100,000 | €2,522 | -€97,478 | -97.5% |
| Accrued charges and deferred income | 492/3 | €12,902 | €285 | -€12,618 | -97.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,595 | €274 | -€1,321 | -82.8% |
| Other operating charges | 640/8 | €798 | €523 | -€275 | -34.4% |
| Non-recurring operating charges | 66A | €103,749 | - | -€103,749 | |
| Gross operating margin | 9900 | €206,178 | €73,855 | -€132,323 | -64.2% |
| Operating profit (loss) | 9901 | €100,036 | €73,057 | -€26,978 | -27.0% |
| Financial income | 75/76B | €2,112 | €3,467 | +€1,355 | +64.1% |
| Recurring financial income | 75 | €2,112 | €3,467 | +€1,355 | +64.1% |
| Financial charges | 65/66B | €496 | €2,553 | +€2,056 | +414.3% |
| Recurring financial charges | 65 | €496 | €2,553 | +€2,056 | +414.3% |
| Profit (loss) for the period before taxes | 9903 | €101,652 | €73,972 | -€27,680 | -27.2% |
| Income taxes | 67/77 | - | €13,756 | +€13,756 | |
| Profit (loss) for the period | 9904 | €101,652 | €60,216 | -€41,436 | -40.8% |
| Profit (loss) for the period to be appropriated | 9905 | €101,652 | €60,216 | -€41,436 | -40.8% |
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 30 September 2026 via checked.be.