ELISTAR: 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.
ELISTAR
Largest movements
- Receivables within one year +€20,501
up €20,501 (+116.8%), from €17,550 to €38,052
of which Trade receivables: +€19,064
- Tangible fixed assets -€8,749
down €8,749 (-26.0%), from €33,670 to €24,921
- Cash +€6,568
up €6,568 (+68.7%), from €9,554 to €16,122
mainly Net result for the year (+€59,043) and Tax, wage and social debts (+€13,243)
- Profit (loss) carried forward +€59,043
up €59,043, from -€23,650 to €35,393
- Other debts -€53,907
down €53,907 (-76.5%), from €70,466 to €16,558
- Tax, wage and social debts +€13,243
up €13,243 (+10361.9%), from €128 to €13,370
- Gross operating margin +€50,356
up €50,356 (+158.6%), from €31,750 to €82,106
- Taxes +€10,038
new in 2025: €10,038
- Depreciation +€4,581
up €4,581 (+66.0%), from €6,937 to €11,518
- Other operating charges -€2,282
down €2,282 (-85.2%), from €2,679 to €397
- Financial income -€1,073
no longer reported in 2025 (was €1,073)
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 | €60,849 | €79,169 | +€18,320 | +30.1% |
| Fixed assets | 21/28 | €33,745 | €24,996 | -€8,749 | -25.9% |
| Tangible fixed assets | 22/27 | €33,670 | €24,921 | -€8,749 | -26.0% |
| Furniture and vehicles | 24 | €33,670 | €24,921 | -€8,749 | -26.0% |
| Financial fixed assets | 28 | €75 | €75 | = | 0.0% |
| Current assets | 29/58 | €27,105 | €54,173 | +€27,069 | +99.9% |
| Amounts receivable within one year | 40/41 | €17,550 | €38,052 | +€20,501 | +116.8% |
| Trade receivables | 40 | €16,934 | €35,999 | +€19,064 | +112.6% |
| Other amounts receivable | 41 | €616 | €2,053 | +€1,437 | +233.3% |
| Cash at bank and in hand | 54/58 | €9,554 | €16,122 | +€6,568 | +68.7% |
| Total equity and liabilities | 10/49 | €60,849 | €79,169 | +€18,320 | +30.1% |
| Equity | 10/15 | -€15,650 | €43,393 | +€59,043 | |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,650 | €35,393 | +€59,043 | |
| Amounts payable | 17/49 | €76,499 | €35,776 | -€40,723 | -53.2% |
| Amounts payable within one year | 42/48 | €76,499 | €35,776 | -€40,723 | -53.2% |
| Trade debts | 44 | €5,905 | €5,847 | -€58 | -1.0% |
| Suppliers | 440/4 | €5,905 | €5,847 | -€58 | -1.0% |
| Taxes, remuneration and social security | 45 | €128 | €13,370 | +€13,243 | +10361.9% |
| Taxes | 450/3 | €128 | €13,370 | +€13,243 | +10361.9% |
| Other amounts payable | 47/48 | €70,466 | €16,558 | -€53,907 | -76.5% |
| Remuneration, social security and pensions | 62 | - | €146 | +€146 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,937 | €11,518 | +€4,581 | +66.0% |
| Other operating charges | 640/8 | €2,679 | €397 | -€2,282 | -85.2% |
| Non-recurring operating charges | 66A | €250 | €367 | +€117 | +46.7% |
| Gross operating margin | 9900 | €31,750 | €82,106 | +€50,356 | +158.6% |
| Operating profit (loss) | 9901 | €21,884 | €69,679 | +€47,795 | +218.4% |
| Financial income | 75/76B | €1,073 | - | -€1,073 | |
| Recurring financial income | 75 | €1,073 | - | -€1,073 | |
| Financial charges | 65/66B | €33 | €597 | +€564 | +1710.5% |
| Recurring financial charges | 65 | €33 | €597 | +€564 | +1710.5% |
| Profit (loss) for the period before taxes | 9903 | €22,924 | €69,081 | +€46,157 | +201.3% |
| Income taxes | 67/77 | - | €10,038 | +€10,038 | |
| Profit (loss) for the period | 9904 | €22,924 | €59,043 | +€36,119 | +157.6% |
| Profit (loss) for the period to be appropriated | 9905 | €22,924 | €59,043 | +€36,119 | +157.6% |
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.