Elisa LANCELLOTTI: 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.
Elisa LANCELLOTTI
Largest movements
- Cash -€3,331
down €3,331 (-21.9%), from €15,238 to €11,907
mainly Other debts (-€4,339) and Net result for the year (-€1,548)
- Deferred charges and accrued income -€2,723
no longer reported in 2025 (was €2,723)
- Receivables within one year -€602
down €602 (-16.6%), from €3,632 to €3,029
- Tangible fixed assets -€310
down €310 (-54.4%), from €569 to €260
- Other debts -€4,339
down €4,339 (-90.4%), from €4,800 to €462
- Profit (loss) carried forward -€1,548
down €1,548 (-39.3%), from €3,936 to €2,388
- Tax, wage and social debts -€1,450
down €1,450 (-33.6%), from €4,320 to €2,870
of which Taxes: -€1,189
- Trade debts +€372
up €372 (+339%), from €110 to €482
- Gross operating margin -€5,637
down €5,637 (-92.0%), from €6,129 to €493
- Taxes -€1,740
down €1,740 (-75.8%), from €2,297 to €557
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 | €23,166 | €16,201 | -€6,965 | -30.1% |
| Fixed assets | 21/28 | €1,574 | €1,265 | -€310 | -19.7% |
| Tangible fixed assets | 22/27 | €569 | €260 | -€310 | -54.4% |
| Furniture and vehicles | 24 | €569 | €260 | -€310 | -54.4% |
| Financial fixed assets | 28 | €1,005 | €1,005 | = | 0.0% |
| Current assets | 29/58 | €21,592 | €14,937 | -€6,655 | -30.8% |
| Amounts receivable within one year | 40/41 | €3,632 | €3,029 | -€602 | -16.6% |
| Trade receivables | 40 | €3,632 | €3,029 | -€602 | -16.6% |
| Cash at bank and in hand | 54/58 | €15,238 | €11,907 | -€3,331 | -21.9% |
| Deferred charges and accrued income | 490/1 | €2,723 | - | -€2,723 | |
| Total equity and liabilities | 10/49 | €23,166 | €16,201 | -€6,965 | -30.1% |
| Equity | 10/15 | €13,936 | €12,388 | -€1,548 | -11.1% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,936 | €2,388 | -€1,548 | -39.3% |
| Amounts payable | 17/49 | €9,230 | €3,813 | -€5,417 | -58.7% |
| Amounts payable within one year | 42/48 | €9,230 | €3,813 | -€5,417 | -58.7% |
| Trade debts | 44 | €110 | €482 | +€372 | +339% |
| Suppliers | 440/4 | €110 | €482 | +€372 | +339% |
| Taxes, remuneration and social security | 45 | €4,320 | €2,870 | -€1,450 | -33.6% |
| Taxes | 450/3 | €4,059 | €2,870 | -€1,189 | -29.3% |
| Remuneration and social security | 454/9 | €262 | - | -€262 | |
| Other amounts payable | 47/48 | €4,800 | €462 | -€4,339 | -90.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €310 | €310 | = | 0.0% |
| Other operating charges | 640/8 | €936 | €911 | -€25 | -2.7% |
| Gross operating margin | 9900 | €6,129 | €493 | -€5,637 | -92.0% |
| Operating profit (loss) | 9901 | €4,883 | -€728 | -€5,611 | |
| Financial income | 75/76B | €3 | - | -€3 | |
| Recurring financial income | 75 | €3 | - | -€3 | |
| Financial charges | 65/66B | €232 | €263 | +€31 | +13.5% |
| Recurring financial charges | 65 | €232 | €263 | +€31 | +13.5% |
| Profit (loss) for the period before taxes | 9903 | €4,654 | -€991 | -€5,645 | |
| Income taxes | 67/77 | €2,297 | €557 | -€1,740 | -75.8% |
| Profit (loss) for the period | 9904 | €2,357 | -€1,548 | -€3,905 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,357 | -€1,548 | -€3,905 |
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 26 October 2026 via checked.be.