ELISAL: 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.
ELISAL
Largest movements
- Financial fixed assets +€18,000
up €18,000 (+86.5%), from €20,800 to €38,800
- Cash -€7,089
down €7,089 (-100%), from €7,089 to €0
mainly Investment in fixed assets (net) (-€18,000) and Net result for the year (-€17,303)
- Receivables within one year +€7,025
up €7,025 (+27.2%), from €25,831 to €32,856
of which Other amounts receivable: +€7,251
- Deferred charges and accrued income +€952
new in 2025: €952
- Tangible fixed assets -€897
down €897 (-100%), from €897 to €0
- Other debts +€36,146
up €36,146 (+2,341%), from €1,544 to €37,689
- Profit (loss) carried forward -€17,303
down €17,303 (-67.0%), from -€25,820 to -€43,123
- Trade debts -€1,499
down €1,499 (-40.7%), from €3,681 to €2,182
- Gross operating margin -€24,186
down €24,186, from €10,021 to -€14,165
- Financial charges -€1,323
down €1,323 (-66.2%), from €1,998 to €674
- Taxes +€974
up €974, from €0 to €974
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 | €54,616 | €72,608 | +€17,991 | +32.9% |
| Fixed assets | 21/28 | €21,697 | €38,800 | +€17,103 | +78.8% |
| Tangible fixed assets | 22/27 | €897 | €0 | -€897 | -100% |
| Furniture and vehicles | 24 | €897 | €0 | -€897 | -100% |
| Financial fixed assets | 28 | €20,800 | €38,800 | +€18,000 | +86.5% |
| Current assets | 29/58 | €32,920 | €33,808 | +€888 | +2.7% |
| Amounts receivable within one year | 40/41 | €25,831 | €32,856 | +€7,025 | +27.2% |
| Trade receivables | 40 | €917 | €692 | -€226 | -24.6% |
| Other amounts receivable | 41 | €24,914 | €32,165 | +€7,251 | +29.1% |
| Cash at bank and in hand | 54/58 | €7,089 | €0 | -€7,089 | -100% |
| Deferred charges and accrued income | 490/1 | - | €952 | +€952 | |
| Total equity and liabilities | 10/49 | €54,616 | €72,608 | +€17,991 | +32.9% |
| Equity | 10/15 | €9,154 | -€8,150 | -€17,303 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €16,374 | €16,374 | = | 0.0% |
| Distributable reserves | 133 | €16,374 | €16,374 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€25,820 | -€43,123 | -€17,303 | -67.0% |
| Amounts payable | 17/49 | €45,463 | €80,757 | +€35,295 | +77.6% |
| Amounts payable after more than one year | 17 | €40,230 | €40,230 | = | 0.0% |
| Other amounts payable | 178/9 | €40,230 | €40,230 | = | 0.0% |
| Amounts payable within one year | 42/48 | €5,233 | €40,527 | +€35,295 | +675% |
| Financial debts | 43 | €0 | €527 | +€527 | |
| Credit institutions | 430/8 | €0 | €527 | +€527 | |
| Trade debts | 44 | €3,681 | €2,182 | -€1,499 | -40.7% |
| Suppliers | 440/4 | €3,681 | €2,182 | -€1,499 | -40.7% |
| Taxes, remuneration and social security | 45 | €7 | €129 | +€122 | +1,643% |
| Taxes | 450/3 | €7 | €129 | +€122 | +1,643% |
| Other amounts payable | 47/48 | €1,544 | €37,689 | +€36,146 | +2,341% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €968 | €897 | -€71 | -7.4% |
| Other operating charges | 640/8 | €577 | €593 | +€16 | +2.8% |
| Gross operating margin | 9900 | €10,021 | -€14,165 | -€24,186 | |
| Operating profit (loss) | 9901 | €8,476 | -€15,655 | -€24,131 | |
| Financial charges | 65/66B | €1,998 | €674 | -€1,323 | -66.2% |
| Recurring financial charges | 65 | €1,998 | €674 | -€1,323 | -66.2% |
| Profit (loss) for the period before taxes | 9903 | €6,478 | -€16,329 | -€22,807 | |
| Income taxes | 67/77 | €0 | €974 | +€974 | |
| Profit (loss) for the period | 9904 | €6,478 | -€17,303 | -€23,781 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,478 | -€17,303 | -€23,781 |
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 24 October 2026 via checked.be.