ELISHAN: 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.
ELISHAN
Largest movements
- Receivables within one year +€126,983
up €126,983 (+322.7%), from €39,353 to €166,336
of which Trade receivables: +€126,797
- Cash -€6,515
down €6,515 (-14.4%), from €45,190 to €38,676
mainly Receivables within one year (-€126,983) and Trade debts (-€2,432)
- Tangible fixed assets -€4,134
down €4,134 (-28.5%), from €14,515 to €10,381
of which Furniture and vehicles: -€3,566
- Advances received +€58,000
new in 2024: €58,000
- Other debts +€23,840
up €23,840 (+236.0%), from €10,101 to €33,941
- Profit (loss) carried forward +€21,973
up €21,973 (+83.6%), from €26,293 to €48,265
- Tax, wage and social debts +€14,954
up €14,954 (+19.7%), from €76,023 to €90,977
of which Taxes: +€11,487
- Trade debts -€2,432
no longer reported in 2024 (was €2,432)
- Staff costs +€109,769
up €109,769 (+51.7%), from €212,220 to €321,990
- Gross operating margin +€106,071
up €106,071 (+39.7%), from €267,371 to €373,442
- Other operating charges -€20,911
down €20,911 (-74.9%), from €27,909 to €6,998
- Taxes +€8,976
up €8,976 (+140.5%), from €6,390 to €15,367
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €117,049 | €233,383 | +€116,335 | +99.4% |
| Fixed assets | 21/28 | €29,515 | €25,381 | -€4,134 | -14.0% |
| Tangible fixed assets | 22/27 | €14,515 | €10,381 | -€4,134 | -28.5% |
| Furniture and vehicles | 24 | €11,726 | €8,160 | -€3,566 | -30.4% |
| Other tangible fixed assets | 26 | €2,789 | €2,221 | -€568 | -20.4% |
| Financial fixed assets | 28 | €15,000 | €15,000 | = | 0.0% |
| Current assets | 29/58 | €87,534 | €208,002 | +€120,468 | +137.6% |
| Stocks and contracts in progress | 3 | €2,990 | €2,990 | = | 0.0% |
| Stocks | 30/36 | €2,990 | €2,990 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €39,353 | €166,336 | +€126,983 | +322.7% |
| Trade receivables | 40 | €39,353 | €166,150 | +€126,797 | +322.2% |
| Other amounts receivable | 41 | - | €186 | +€186 | |
| Cash at bank and in hand | 54/58 | €45,190 | €38,676 | -€6,515 | -14.4% |
| Total equity and liabilities | 10/49 | €117,049 | €233,383 | +€116,335 | +99.4% |
| Equity | 10/15 | €28,493 | €50,465 | +€21,973 | +77.1% |
| Contributions | 10/11 | €2,200 | €2,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,293 | €48,265 | +€21,973 | +83.6% |
| Amounts payable | 17/49 | €88,556 | €182,918 | +€94,362 | +106.6% |
| Amounts payable within one year | 42/48 | €88,556 | €182,918 | +€94,362 | +106.6% |
| Trade debts | 44 | €2,432 | - | -€2,432 | |
| Suppliers | 440/4 | €2,432 | - | -€2,432 | |
| Advances received on contracts in progress | 46 | - | €58,000 | +€58,000 | |
| Taxes, remuneration and social security | 45 | €76,023 | €90,977 | +€14,954 | +19.7% |
| Taxes | 450/3 | €52,468 | €63,954 | +€11,487 | +21.9% |
| Remuneration and social security | 454/9 | €23,555 | €27,023 | +€3,468 | +14.7% |
| Other amounts payable | 47/48 | €10,101 | €33,941 | +€23,840 | +236.0% |
| Remuneration, social security and pensions | 62 | €212,220 | €321,990 | +€109,769 | +51.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,382 | €4,134 | +€752 | +22.2% |
| Other operating charges | 640/8 | €27,909 | €6,998 | -€20,911 | -74.9% |
| Gross operating margin | 9900 | €267,371 | €373,442 | +€106,071 | +39.7% |
| Operating profit (loss) | 9901 | €23,860 | €40,321 | +€16,461 | +69.0% |
| Financial income | 75/76B | €3 | - | -€3 | |
| Recurring financial income | 75 | €3 | - | -€3 | |
| Financial charges | 65/66B | €2,318 | €2,981 | +€663 | +28.6% |
| Recurring financial charges | 65 | €2,318 | €2,981 | +€663 | +28.6% |
| Profit (loss) for the period before taxes | 9903 | €21,545 | €37,340 | +€15,795 | +73.3% |
| Income taxes | 67/77 | €6,390 | €15,367 | +€8,976 | +140.5% |
| Profit (loss) for the period | 9904 | €15,154 | €21,973 | +€6,818 | +45.0% |
| Profit (loss) for the period to be appropriated | 9905 | €15,154 | €21,973 | +€6,818 | +45.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.