ELISEC: 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.
ELISEC
Largest movements
- Current investments +€38,458
new in 2025: €38,458
- Receivables within one year +€28,601
up €28,601 (+84.9%), from €33,670 to €62,271
of which Other amounts receivable: +€17,614
- Tangible fixed assets -€12,612
down €12,612 (-29.2%), from €43,189 to €30,577
of which Leasing and similar rights: -€9,587
- Cash -€12,353
down €12,353 (-14.6%), from €84,323 to €71,970
mainly Current investments (-€38,458) and Receivables within one year (-€28,601)
- Reserves +€53,726
up €53,726 (+56.8%), from €94,507 to €148,233
- Debts after one year -€7,889
down €7,889 (-34.3%), from €23,023 to €15,134
- Trade debts -€3,845
down €3,845 (-55.2%), from €6,966 to €3,121
- Gross operating margin +€14,002
up €14,002 (+20.7%), from €67,666 to €81,668
- Taxes +€3,013
up €3,013 (+26.3%), from €11,466 to €14,479
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 | €162,980 | €205,417 | +€42,437 | +26.0% |
| Fixed assets | 21/28 | €43,189 | €30,577 | -€12,612 | -29.2% |
| Tangible fixed assets | 22/27 | €43,189 | €30,577 | -€12,612 | -29.2% |
| Land and buildings | 22 | €2,372 | €2,108 | -€264 | -11.1% |
| Plant, machinery and equipment | 23 | €5,304 | €2,808 | -€2,496 | -47.1% |
| Furniture and vehicles | 24 | €976 | €711 | -€265 | -27.2% |
| Leasing and similar rights | 25 | €34,536 | €24,950 | -€9,587 | -27.8% |
| Current assets | 29/58 | €119,791 | €174,840 | +€55,050 | +46.0% |
| Amounts receivable within one year | 40/41 | €33,670 | €62,271 | +€28,601 | +84.9% |
| Trade receivables | 40 | €16,162 | €27,150 | +€10,988 | +68.0% |
| Other amounts receivable | 41 | €17,507 | €35,121 | +€17,614 | +100.6% |
| Current investments | 50/53 | - | €38,458 | +€38,458 | |
| Cash at bank and in hand | 54/58 | €84,323 | €71,970 | -€12,353 | -14.6% |
| Deferred charges and accrued income | 490/1 | €1,798 | €2,142 | +€344 | +19.1% |
| Total equity and liabilities | 10/49 | €162,980 | €205,417 | +€42,437 | +26.0% |
| Equity | 10/15 | €99,507 | €153,233 | +€53,726 | +54.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €94,507 | €148,233 | +€53,726 | +56.8% |
| Distributable reserves | 133 | €94,507 | €148,233 | +€53,726 | +56.8% |
| Amounts payable | 17/49 | €63,473 | €52,184 | -€11,289 | -17.8% |
| Amounts payable after more than one year | 17 | €23,023 | €15,134 | -€7,889 | -34.3% |
| Financial debts | 170/4 | €23,023 | €15,134 | -€7,889 | -34.3% |
| Amounts payable within one year | 42/48 | €40,450 | €37,050 | -€3,400 | -8.4% |
| Current portion of amounts payable after more than one year | 42 | €7,552 | €7,889 | +€337 | +4.5% |
| Trade debts | 44 | €6,966 | €3,121 | -€3,845 | -55.2% |
| Suppliers | 440/4 | €6,966 | €3,121 | -€3,845 | -55.2% |
| Taxes, remuneration and social security | 45 | €25,932 | €26,040 | +€109 | +0.4% |
| Taxes | 450/3 | €25,932 | €26,040 | +€109 | +0.4% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,902 | €13,220 | +€319 | +2.5% |
| Other operating charges | 640/8 | €250 | €256 | +€6 | +2.2% |
| Gross operating margin | 9900 | €67,666 | €81,668 | +€14,002 | +20.7% |
| Operating profit (loss) | 9901 | €54,514 | €68,192 | +€13,677 | +25.1% |
| Financial income | 75/76B | €1,577 | €1,497 | -€80 | -5.1% |
| Recurring financial income | 75 | €1,577 | €1,497 | -€80 | -5.1% |
| Financial charges | 65/66B | €1,679 | €1,484 | -€195 | -11.6% |
| Recurring financial charges | 65 | €1,679 | €1,484 | -€195 | -11.6% |
| Profit (loss) for the period before taxes | 9903 | €54,412 | €68,205 | +€13,793 | +25.3% |
| Income taxes | 67/77 | €11,466 | €14,479 | +€3,013 | +26.3% |
| Profit (loss) for the period | 9904 | €42,946 | €53,726 | +€10,780 | +25.1% |
| Profit (loss) for the period to be appropriated | 9905 | €42,946 | €53,726 | +€10,780 | +25.1% |
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 6 October 2026 via checked.be.