ELISSIUM: 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.
ELISSIUM
Largest movements
- Tangible fixed assets +€381,590
up €381,590 (+21.9%), from €1.7m to €2.1m
of which Land and buildings: +€342,834
- Current investments -€72,667
down €72,667 (-99.9%), from €72,720 to €54
- Intangible fixed assets +€38,558
new in 2025: €38,558
- Receivables within one year -€31,401
down €31,401 (-21.1%), from €148,744 to €117,343
of which Trade receivables: -€31,424
- Trade debts -€847,710
down €847,710 (-97.3%), from €871,582 to €23,872
- Debts after one year +€711,313
up €711,313 (+104%), from €682,621 to €1.4m
of which Financial debts: +€711,313
- Revaluation surpluses +€345,000
up €345,000 (+178%), from €194,013 to €539,013
- Other debts +€57,807
up €57,807 (+31.1%), from €185,790 to €243,597
- Current portion of long-term debt +€44,976
up €44,976 (+95.2%), from €47,225 to €92,201
- Depreciation -€57,445
down €57,445 (-39.9%), from €143,957 to €86,512
- Gross operating margin +€35,983
up €35,983 (+29.2%), from €123,216 to €159,200
- Financial charges +€24,000
up €24,000 (+79.6%), from €30,153 to €54,153
- Other operating charges +€10,814
up €10,814 (+319%), from €3,395 to €14,209
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.
Derived cash bridge
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 | €1,990,385 | €2,310,473 | +€320,087 | +16.1% |
| Fixed assets | 21/28 | €1,744,529 | €2,164,676 | +€420,147 | +24.1% |
| Intangible fixed assets | 21 | - | €38,558 | +€38,558 | |
| Tangible fixed assets | 22/27 | €1,744,529 | €2,126,119 | +€381,590 | +21.9% |
| Land and buildings | 22 | €1,728,747 | €2,071,581 | +€342,834 | +19.8% |
| Furniture and vehicles | 24 | €15,782 | €54,538 | +€38,756 | +246% |
| Current assets | 29/58 | €245,856 | €145,796 | -€100,060 | -40.7% |
| Amounts receivable within one year | 40/41 | €148,744 | €117,343 | -€31,401 | -21.1% |
| Trade receivables | 40 | €148,650 | €117,226 | -€31,424 | -21.1% |
| Other amounts receivable | 41 | €94 | €117 | +€23 | +24.3% |
| Current investments | 50/53 | €72,720 | €54 | -€72,667 | -99.9% |
| Cash at bank and in hand | 54/58 | €23,448 | €28,400 | +€4,952 | +21.1% |
| Deferred charges and accrued income | 490/1 | €944 | - | -€944 | |
| Total equity and liabilities | 10/49 | €1,990,385 | €2,310,473 | +€320,087 | +16.1% |
| Equity | 10/15 | €187,436 | €536,850 | +€349,415 | +186% |
| Contributions | 10/11 | €31,803 | €31,803 | = | 0.0% |
| Revaluation surpluses | 12 | €194,013 | €539,013 | +€345,000 | +178% |
| Reserves | 13 | €25,438 | €25,438 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,817 | €1,817 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,817 | €1,817 | = | 0.0% |
| Distributable reserves | 133 | €23,621 | €23,621 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€63,818 | -€59,404 | +€4,415 | +6.9% |
| Amounts payable | 17/49 | €1,802,950 | €1,773,623 | -€29,327 | -1.6% |
| Amounts payable after more than one year | 17 | €682,621 | €1,393,933 | +€711,313 | +104% |
| Financial debts | 170/4 | €682,541 | €1,393,853 | +€711,313 | +104% |
| Other amounts payable | 178/9 | €80 | €80 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,120,329 | €379,689 | -€740,640 | -66.1% |
| Current portion of amounts payable after more than one year | 42 | €47,225 | €92,201 | +€44,976 | +95.2% |
| Trade debts | 44 | €871,582 | €23,872 | -€847,710 | -97.3% |
| Suppliers | 440/4 | €871,582 | €23,872 | -€847,710 | -97.3% |
| Advances received on contracts in progress | 46 | - | €2,667 | +€2,667 | |
| Taxes, remuneration and social security | 45 | €15,732 | €17,353 | +€1,621 | +10.3% |
| Taxes | 450/3 | €15,732 | €17,353 | +€1,621 | +10.3% |
| Other amounts payable | 47/48 | €185,790 | €243,597 | +€57,807 | +31.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €143,957 | €86,512 | -€57,445 | -39.9% |
| Other operating charges | 640/8 | €3,395 | €14,209 | +€10,814 | +319% |
| Gross operating margin | 9900 | €123,216 | €159,200 | +€35,983 | +29.2% |
| Operating profit (loss) | 9901 | -€24,136 | €58,479 | +€82,615 | |
| Financial income | 75/76B | €269 | €88 | -€181 | -67.3% |
| Recurring financial income | 75 | €269 | €88 | -€181 | -67.3% |
| Financial charges | 65/66B | €30,153 | €54,153 | +€24,000 | +79.6% |
| Recurring financial charges | 65 | €30,153 | €54,153 | +€24,000 | +79.6% |
| Profit (loss) for the period before taxes | 9903 | -€54,019 | €4,415 | +€58,434 | |
| Profit (loss) for the period | 9904 | -€54,019 | €4,415 | +€58,434 | |
| Profit (loss) for the period to be appropriated | 9905 | -€54,019 | €4,415 | +€58,434 |
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 19 October 2026 via checked.be.