ELISMAN: 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.
ELISMAN
Largest movements
- Tangible fixed assets +€30,955
up €30,955 (+467.8%), from €6,617 to €37,572
of which Furniture and vehicles: +€30,656
- Cash +€29,396
up €29,396 (+56.9%), from €51,672 to €81,068
mainly Net result for the year (+€44,092) and Debts after one year (+€18,588)
- Receivables within one year +€10,764
up €10,764 (+20.9%), from €51,619 to €62,383
of which Trade receivables: +€6,184
- Reserves +€44,092
up €44,092 (+95.7%), from €46,089 to €90,181
- Other debts -€18,701
no longer reported in 2025 (was €18,701)
- Debts after one year +€18,588
new in 2025: €18,588
- Tax, wage and social debts +€16,110
up €16,110 (+41.4%), from €38,898 to €55,008
of which Remuneration and social security: +€12,556
- Trade debts +€5,758
up €5,758 (+27993.4%), from €21 to €5,779
- Gross operating margin +€113,575
up €113,575 (+50.6%), from €224,577 to €338,152
- Staff costs +€87,855
up €87,855 (+49.9%), from €176,173 to €264,028
- Taxes +€6,405
up €6,405 (+52.0%), from €12,311 to €18,716
- Depreciation +€5,757
up €5,757 (+255.1%), from €2,257 to €8,014
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 | €109,908 | €181,166 | +€71,257 | +64.8% |
| Fixed assets | 21/28 | €6,617 | €37,572 | +€30,955 | +467.8% |
| Tangible fixed assets | 22/27 | €6,617 | €37,572 | +€30,955 | +467.8% |
| Furniture and vehicles | 24 | €132 | €30,788 | +€30,656 | +23296.5% |
| Other tangible fixed assets | 26 | €6,486 | €6,785 | +€299 | +4.6% |
| Current assets | 29/58 | €103,291 | €143,593 | +€40,302 | +39.0% |
| Amounts receivable within one year | 40/41 | €51,619 | €62,383 | +€10,764 | +20.9% |
| Trade receivables | 40 | €31,768 | €37,952 | +€6,184 | +19.5% |
| Other amounts receivable | 41 | €19,851 | €24,431 | +€4,580 | +23.1% |
| Cash at bank and in hand | 54/58 | €51,672 | €81,068 | +€29,396 | +56.9% |
| Deferred charges and accrued income | 490/1 | - | €142 | +€142 | |
| Total equity and liabilities | 10/49 | €109,908 | €181,166 | +€71,257 | +64.8% |
| Equity | 10/15 | €52,289 | €96,381 | +€44,092 | +84.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €46,089 | €90,181 | +€44,092 | +95.7% |
| Distributable reserves | 133 | €46,089 | €90,181 | +€44,092 | +95.7% |
| Amounts payable | 17/49 | €57,620 | €84,785 | +€27,165 | +47.1% |
| Amounts payable after more than one year | 17 | - | €18,588 | +€18,588 | |
| Financial debts | 170/4 | - | €18,588 | +€18,588 | |
| Amounts payable within one year | 42/48 | €57,620 | €66,196 | +€8,577 | +14.9% |
| Current portion of amounts payable after more than one year | 42 | - | €5,409 | +€5,409 | |
| Trade debts | 44 | €21 | €5,779 | +€5,758 | +27993.4% |
| Suppliers | 440/4 | €21 | €5,779 | +€5,758 | +27993.4% |
| Taxes, remuneration and social security | 45 | €38,898 | €55,008 | +€16,110 | +41.4% |
| Taxes | 450/3 | €20,276 | €23,830 | +€3,554 | +17.5% |
| Remuneration and social security | 454/9 | €18,623 | €31,178 | +€12,556 | +67.4% |
| Other amounts payable | 47/48 | €18,701 | - | -€18,701 | |
| Non-recurring operating income | 76A | - | €282 | +€282 | |
| Remuneration, social security and pensions | 62 | €176,173 | €264,028 | +€87,855 | +49.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,257 | €8,014 | +€5,757 | +255.1% |
| Other operating charges | 640/8 | €1,424 | €1,125 | -€300 | -21.0% |
| Gross operating margin | 9900 | €224,577 | €338,152 | +€113,575 | +50.6% |
| Operating profit (loss) | 9901 | €44,724 | €64,986 | +€20,263 | +45.3% |
| Financial income | 75/76B | €0 | €1,065 | +€1,065 | |
| Recurring financial income | 75 | €0 | €55 | +€55 | |
| Non-recurring financial income | 76B | - | €1,011 | +€1,011 | |
| Financial charges | 65/66B | €2,624 | €3,244 | +€619 | +23.6% |
| Recurring financial charges | 65 | €2,624 | €3,244 | +€619 | +23.6% |
| Profit (loss) for the period before taxes | 9903 | €42,099 | €62,808 | +€20,709 | +49.2% |
| Income taxes | 67/77 | €12,311 | €18,716 | +€6,405 | +52.0% |
| Profit (loss) for the period | 9904 | €29,789 | €44,092 | +€14,304 | +48.0% |
| Profit (loss) for the period to be appropriated | 9905 | €29,789 | €44,092 | +€14,304 | +48.0% |
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 12 October 2026 via checked.be.