ELISORA: 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.
ELISORA
Largest movements
- Receivables within one year +€146,407
up €146,407 (+123.6%), from €118,475 to €264,882
of which Other amounts receivable: +€146,256
- Cash +€37,099
up €37,099 (+36.9%), from €100,596 to €137,695
mainly Net result for the year (+€316,867) and Other debts (+€163,037)
- Tangible fixed assets -€9,767
down €9,767 (-22.2%), from €44,007 to €34,239
- Other debts +€163,037
up €163,037 (+171.6%), from €95,000 to €258,037
- Profit (loss) carried forward +€16,867
up €16,867 (+4.6%), from €367,950 to €384,816
- Debts after one year -€14,783
down €14,783 (-10.8%), from €136,998 to €122,215
- Financial income +€214,702
up €214,702 (+245.6%), from €87,414 to €302,116
- Gross operating margin -€9,743
down €9,743 (-21.8%), from €44,722 to €34,979
- Depreciation +€5,076
up €5,076 (+108.2%), from €4,692 to €9,767
- Taxes -€3,072
down €3,072 (-33.1%), from €9,290 to €6,218
- Financial charges +€854
up €854 (+28.7%), from €2,972 to €3,826
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 | €641,622 | €807,663 | +€166,042 | +25.9% |
| Fixed assets | 21/28 | €422,144 | €404,648 | -€17,496 | -4.1% |
| Tangible fixed assets | 22/27 | €44,007 | €34,239 | -€9,767 | -22.2% |
| Furniture and vehicles | 24 | €44,007 | €34,239 | -€9,767 | -22.2% |
| Financial fixed assets | 28 | €378,137 | €370,408 | -€7,729 | -2.0% |
| Current assets | 29/58 | €219,478 | €403,016 | +€183,538 | +83.6% |
| Amounts receivable within one year | 40/41 | €118,475 | €264,882 | +€146,407 | +123.6% |
| Trade receivables | 40 | €117 | €268 | +€151 | +129.2% |
| Other amounts receivable | 41 | €118,358 | €264,614 | +€146,256 | +123.6% |
| Cash at bank and in hand | 54/58 | €100,596 | €137,695 | +€37,099 | +36.9% |
| Deferred charges and accrued income | 490/1 | €407 | €439 | +€32 | +7.8% |
| Total equity and liabilities | 10/49 | €641,622 | €807,663 | +€166,042 | +25.9% |
| Equity | 10/15 | €387,400 | €404,266 | +€16,867 | +4.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €850 | €850 | = | 0.0% |
| Distributable reserves | 133 | €850 | €850 | = | 0.0% |
| Profit (loss) carried forward | 14 | €367,950 | €384,816 | +€16,867 | +4.6% |
| Amounts payable | 17/49 | €254,222 | €403,397 | +€149,175 | +58.7% |
| Amounts payable after more than one year | 17 | €136,998 | €122,215 | -€14,783 | -10.8% |
| Financial debts | 170/4 | €136,998 | €122,215 | -€14,783 | -10.8% |
| Amounts payable within one year | 42/48 | €117,224 | €281,182 | +€163,958 | +139.9% |
| Current portion of amounts payable after more than one year | 42 | €14,457 | €14,783 | +€326 | +2.3% |
| Trade debts | 44 | €414 | €906 | +€492 | +118.7% |
| Suppliers | 440/4 | €414 | €906 | +€492 | +118.7% |
| Taxes, remuneration and social security | 45 | €7,353 | €7,455 | +€103 | +1.4% |
| Taxes | 450/3 | €7,353 | €7,455 | +€103 | +1.4% |
| Other amounts payable | 47/48 | €95,000 | €258,037 | +€163,037 | +171.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,692 | €9,767 | +€5,076 | +108.2% |
| Other operating charges | 640/8 | €429 | €417 | -€12 | -2.8% |
| Gross operating margin | 9900 | €44,722 | €34,979 | -€9,743 | -21.8% |
| Operating profit (loss) | 9901 | €39,601 | €24,794 | -€14,806 | -37.4% |
| Financial income | 75/76B | €87,414 | €302,116 | +€214,702 | +245.6% |
| Recurring financial income | 75 | €87,414 | €302,116 | +€214,702 | +245.6% |
| Financial charges | 65/66B | €2,972 | €3,826 | +€854 | +28.7% |
| Recurring financial charges | 65 | €2,972 | €3,826 | +€854 | +28.7% |
| Profit (loss) for the period before taxes | 9903 | €124,043 | €323,084 | +€199,042 | +160.5% |
| Income taxes | 67/77 | €9,290 | €6,218 | -€3,072 | -33.1% |
| Profit (loss) for the period | 9904 | €114,753 | €316,867 | +€202,114 | +176.1% |
| Profit (loss) for the period to be appropriated | 9905 | €114,753 | €316,867 | +€202,114 | +176.1% |
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 4 October 2026 via checked.be.