ELISE VDB: 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.
ELISE VDB
Largest movements
- Tangible fixed assets -€22,587
down €22,587 (-91.4%), from €24,717 to €2,130
- Cash -€17,416
down €17,416 (-37.1%), from €47,001 to €29,584
mainly Contributions, distributions and other (-€50,000) and Current portion of long-term debt (-€8,554)
- Receivables within one year -€1,815
down €1,815 (-12.3%), from €14,793 to €12,977
of which Other amounts receivable: -€1,900
- Reserves -€31,768
down €31,768 (-53.6%), from €59,317 to €27,549
- Current portion of long-term debt -€8,554
down €8,554 (-100.0%), from €8,554 to €0
- Debts after one year -€2,928
down €2,928 (-100.0%), from €2,928 to €0
- Trade debts +€2,068
up €2,068 (+880.0%), from €235 to €2,304
- Tax, wage and social debts -€1,079
down €1,079 (-18.2%), from €5,918 to €4,839
- Depreciation -€6,884
down €6,884 (-86.6%), from €7,948 to €1,064
- Gross operating margin -€5,807
down €5,807 (-15.3%), from €37,983 to €32,176
- Taxes -€1,093
down €1,093 (-15.8%), from €6,914 to €5,821
- Financial charges -€401
down €401 (-51.7%), from €777 to €375
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €86,952 | €44,691 | -€42,260 | -48.6% |
| Fixed assets | 21/28 | €24,717 | €2,130 | -€22,587 | -91.4% |
| Tangible fixed assets | 22/27 | €24,717 | €2,130 | -€22,587 | -91.4% |
| Furniture and vehicles | 24 | €24,717 | €2,130 | -€22,587 | -91.4% |
| Current assets | 29/58 | €62,235 | €42,562 | -€19,673 | -31.6% |
| Amounts receivable within one year | 40/41 | €14,793 | €12,977 | -€1,815 | -12.3% |
| Trade receivables | 40 | €11,193 | €11,277 | +€85 | +0.8% |
| Other amounts receivable | 41 | €3,600 | €1,700 | -€1,900 | -52.8% |
| Cash at bank and in hand | 54/58 | €47,001 | €29,584 | -€17,416 | -37.1% |
| Deferred charges and accrued income | 490/1 | €442 | €0 | -€442 | -100.0% |
| Total equity and liabilities | 10/49 | €86,952 | €44,691 | -€42,260 | -48.6% |
| Equity | 10/15 | €69,317 | €37,549 | -€31,768 | -45.8% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €59,317 | €27,549 | -€31,768 | -53.6% |
| Distributable reserves | 133 | €59,317 | €27,549 | -€31,768 | -53.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €17,634 | €7,142 | -€10,492 | -59.5% |
| Amounts payable after more than one year | 17 | €2,928 | €0 | -€2,928 | -100.0% |
| Financial debts | 170/4 | €2,928 | €0 | -€2,928 | -100.0% |
| Amounts payable within one year | 42/48 | €14,706 | €7,142 | -€7,564 | -51.4% |
| Current portion of amounts payable after more than one year | 42 | €8,554 | €0 | -€8,554 | -100.0% |
| Trade debts | 44 | €235 | €2,304 | +€2,068 | +880.0% |
| Suppliers | 440/4 | €235 | €2,304 | +€2,068 | +880.0% |
| Taxes, remuneration and social security | 45 | €5,918 | €4,839 | -€1,079 | -18.2% |
| Taxes | 450/3 | €5,918 | €4,839 | -€1,079 | -18.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,948 | €1,064 | -€6,884 | -86.6% |
| Other operating charges | 640/8 | €917 | €816 | -€101 | -11.0% |
| Non-recurring operating charges | 66A | €0 | €5,869 | +€5,869 | |
| Gross operating margin | 9900 | €37,983 | €32,176 | -€5,807 | -15.3% |
| Operating profit (loss) | 9901 | €29,118 | €24,428 | -€4,691 | -16.1% |
| Financial charges | 65/66B | €777 | €375 | -€401 | -51.7% |
| Recurring financial charges | 65 | €777 | €375 | -€401 | -51.7% |
| Profit (loss) for the period before taxes | 9903 | €28,341 | €24,052 | -€4,289 | -15.1% |
| Income taxes | 67/77 | €6,914 | €5,821 | -€1,093 | -15.8% |
| Profit (loss) for the period | 9904 | €21,427 | €18,232 | -€3,196 | -14.9% |
| Profit (loss) for the period to be appropriated | 9905 | €21,427 | €18,232 | -€3,196 | -14.9% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.