ELIPSIUM: 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.
ELIPSIUM
Largest movements
- Receivables within one year -€28,669
down €28,669 (-65.2%), from €43,974 to €15,305
of which Other amounts receivable: -€28,307
- Cash +€28,442
up €28,442 (+378.8%), from €7,508 to €35,950
mainly Net result for the year (+€61,270) and Other debts (+€29,076)
- Tangible fixed assets +€5,007
up €5,007 (+70.3%), from €7,123 to €12,130
of which Furniture and vehicles: +€3,410
- Deferred charges and accrued income +€1,514
new in 2025: €1,514
- Contributions -€87,320
down €87,320 (-66.9%), from €130,460 to €43,140
- Reserves +€31,860
new in 2025: €31,860
- Profit (loss) carried forward +€31,270
up €31,270 (+37.2%), from -€83,984 to -€52,714
- Other debts +€29,076
up €29,076 (+1280.3%), from €2,271 to €31,347
- Tax, wage and social debts +€3,519
up €3,519 (+65.8%), from €5,352 to €8,871
- Turnover +€123,520
new in 2025: €123,520
- Purchases and services +€55,575
new in 2025: €55,575
- Gross operating margin -€9,206
down €9,206 (-11.9%), from €77,575 to €68,369
- Financial charges -€6,019
down €6,019 (-99.0%), from €6,083 to €64
of which Non-recurring financial charges: -€5,815
- Taxes +€5,306
new in 2025: €5,306
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 | €59,627 | €65,817 | +€6,190 | +10.4% |
| Fixed assets | 21/28 | €8,145 | €13,048 | +€4,903 | +60.2% |
| Intangible fixed assets | 21 | €1,022 | €918 | -€104 | -10.2% |
| Tangible fixed assets | 22/27 | €7,123 | €12,130 | +€5,007 | +70.3% |
| Plant, machinery and equipment | 23 | €1,479 | €3,077 | +€1,598 | +108.0% |
| Furniture and vehicles | 24 | €1,825 | €5,235 | +€3,410 | +186.8% |
| Assets under construction and advance payments | 27 | €3,819 | €3,819 | +€0 | 0.0% |
| Current assets | 29/58 | €51,482 | €52,769 | +€1,287 | +2.5% |
| Amounts receivable within one year | 40/41 | €43,974 | €15,305 | -€28,669 | -65.2% |
| Trade receivables | 40 | €15,167 | €14,805 | -€362 | -2.4% |
| Other amounts receivable | 41 | €28,807 | €500 | -€28,307 | -98.3% |
| Cash at bank and in hand | 54/58 | €7,508 | €35,950 | +€28,442 | +378.8% |
| Deferred charges and accrued income | 490/1 | - | €1,514 | +€1,514 | |
| Total equity and liabilities | 10/49 | €59,627 | €65,817 | +€6,190 | +10.4% |
| Equity | 10/15 | €47,051 | €22,802 | -€24,249 | -51.5% |
| Contributions | 10/11 | €130,460 | €43,140 | -€87,320 | -66.9% |
| Reserves | 13 | - | €31,860 | +€31,860 | |
| Distributable reserves | 133 | - | €31,860 | +€31,860 | |
| Profit (loss) carried forward | 14 | -€83,984 | -€52,714 | +€31,270 | +37.2% |
| Investment grants | 15 | €575 | €516 | -€59 | -10.3% |
| Provisions and deferred taxes | 16 | €192 | €172 | -€20 | -10.4% |
| Deferred taxes | 168 | €192 | €172 | -€20 | -10.4% |
| Amounts payable | 17/49 | €12,384 | €42,843 | +€30,459 | +246.0% |
| Amounts payable within one year | 42/48 | €12,384 | €42,843 | +€30,459 | +246.0% |
| Trade debts | 44 | €4,761 | €2,625 | -€2,136 | -44.9% |
| Suppliers | 440/4 | €4,761 | €2,625 | -€2,136 | -44.9% |
| Taxes, remuneration and social security | 45 | €5,352 | €8,871 | +€3,519 | +65.8% |
| Taxes | 450/3 | €5,352 | €8,871 | +€3,519 | +65.8% |
| Other amounts payable | 47/48 | €2,271 | €31,347 | +€29,076 | +1280.3% |
| Turnover | 70 | - | €123,520 | +€123,520 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €55,575 | +€55,575 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €597 | €1,667 | +€1,070 | +179.3% |
| Other operating charges | 640/8 | €387 | €491 | +€104 | +27.0% |
| Gross operating margin | 9900 | €77,575 | €68,369 | -€9,206 | -11.9% |
| Operating profit (loss) | 9901 | €76,591 | €66,210 | -€10,381 | -13.6% |
| Financial income | 75/76B | €870 | €410 | -€460 | -52.8% |
| Recurring financial income | 75 | €870 | €410 | -€460 | -52.8% |
| Financial charges | 65/66B | €6,083 | €64 | -€6,019 | -99.0% |
| Recurring financial charges | 65 | €268 | €64 | -€204 | -76.2% |
| Non-recurring financial charges | 66B | €5,815 | - | -€5,815 | |
| Profit (loss) for the period before taxes | 9903 | €71,378 | €66,557 | -€4,821 | -6.8% |
| Transfer from deferred taxes | 780 | €5 | €20 | +€15 | +293.8% |
| Income taxes | 67/77 | - | €5,306 | +€5,306 | |
| Profit (loss) for the period | 9904 | €71,383 | €61,270 | -€10,113 | -14.2% |
| Profit (loss) for the period to be appropriated | 9905 | €71,383 | €61,270 | -€10,113 | -14.2% |
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 8 October 2026 via checked.be.