ELISE CARTON: what changed
ELISE CARTON
Largest movements
- Receivables within one year +€50,043
up €50,043 (+1,500%), from €3,336 to €53,379
of which Trade receivables: +€47,411
- Current investments +€29,429
new in 2025: €29,429
- Cash -€14,216
down €14,216 (-69.5%), from €20,453 to €6,236
mainly Receivables within one year (-€50,043) and Current investments (-€29,429)
- Deferred charges and accrued income +€1,692
up €1,692 (+140%), from €1,212 to €2,904
- Reserves +€56,003
up €56,003 (+484%), from €11,582 to €67,585
- Tax, wage and social debts +€10,108
up €10,108 (+100.0%), from €10,109 to €20,217
- Gross operating margin +€58,802
up €58,802 (+353%), from €16,650 to €75,452
- Taxes +€12,966
up €12,966 (+325%), from €3,989 to €16,955
- Financial charges +€897
up €897 (+92.8%), from €966 to €1,863
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €26,769 | €93,354 | +€66,585 | +249% |
| Fixed assets | 21/28 | €1,769 | €1,406 | -€363 | -20.5% |
| Tangible fixed assets | 22/27 | €1,769 | €1,406 | -€363 | -20.5% |
| Furniture and vehicles | 24 | €1,769 | €1,406 | -€363 | -20.5% |
| Current assets | 29/58 | €25,001 | €91,948 | +€66,947 | +268% |
| Amounts receivable within one year | 40/41 | €3,336 | €53,379 | +€50,043 | +1,500% |
| Trade receivables | 40 | - | €47,411 | +€47,411 | |
| Other amounts receivable | 41 | €3,336 | €5,968 | +€2,632 | +78.9% |
| Current investments | 50/53 | - | €29,429 | +€29,429 | |
| Cash at bank and in hand | 54/58 | €20,453 | €6,236 | -€14,216 | -69.5% |
| Deferred charges and accrued income | 490/1 | €1,212 | €2,904 | +€1,692 | +140% |
| Total equity and liabilities | 10/49 | €26,769 | €93,354 | +€66,585 | +249% |
| Equity | 10/15 | €16,582 | €72,585 | +€56,003 | +338% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €11,582 | €67,585 | +€56,003 | +484% |
| Distributable reserves | 133 | €11,582 | €67,585 | +€56,003 | +484% |
| Amounts payable | 17/49 | €10,187 | €20,769 | +€10,581 | +104% |
| Amounts payable within one year | 42/48 | €10,187 | €20,769 | +€10,581 | +104% |
| Trade debts | 44 | €78 | €552 | +€474 | +607% |
| Suppliers | 440/4 | €78 | €552 | +€474 | +607% |
| Taxes, remuneration and social security | 45 | €10,109 | €20,217 | +€10,108 | +100.0% |
| Taxes | 450/3 | €10,109 | €20,217 | +€10,108 | +100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66 | €363 | +€296 | +448% |
| Other operating charges | 640/8 | €103 | €780 | +€677 | +655% |
| Gross operating margin | 9900 | €16,650 | €75,452 | +€58,802 | +353% |
| Operating profit (loss) | 9901 | €16,481 | €74,309 | +€57,829 | +351% |
| Financial income | 75/76B | €56 | €511 | +€455 | +814% |
| Recurring financial income | 75 | €56 | €511 | +€455 | +814% |
| Financial charges | 65/66B | €966 | €1,863 | +€897 | +92.8% |
| Recurring financial charges | 65 | €966 | €1,863 | +€897 | +92.8% |
| Profit (loss) for the period before taxes | 9903 | €15,571 | €72,958 | +€57,387 | +369% |
| Income taxes | 67/77 | €3,989 | €16,955 | +€12,966 | +325% |
| Profit (loss) for the period | 9904 | €11,582 | €56,003 | +€44,421 | +384% |
| Profit (loss) for the period to be appropriated | 9905 | €11,582 | €56,003 | +€44,421 | +384% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.