ELITE STYLE: 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.
ELITE STYLE
Largest movements
- Tangible fixed assets +€214,933
up €214,933 (+20066.6%), from €1,071 to €216,004
of which Land and buildings: +€214,337
- Cash +€20,503
up €20,503 (+53687.9%), from €38 to €20,542
mainly Debts after one year (+€251,986) and Other debts (+€19,425)
- Receivables within one year +€18,527
up €18,527 (+891.6%), from €2,078 to €20,605
of which Trade receivables: +€18,513
- Debts after one year +€251,986
new in 2025: €251,986
- Other debts +€19,425
up €19,425 (+350.7%), from €5,539 to €24,965
- Tax, wage and social debts -€12,793
down €12,793 (-60.9%), from €21,009 to €8,215
of which Taxes: -€12,814
- Trade debts -€8,715
down €8,715 (-38.3%), from €22,760 to €14,045
- Current portion of long-term debt +€6,773
up €6,773 (+270.3%), from €2,506 to €9,279
- Gross operating margin -€27,166
down €27,166 (-34.2%), from €79,420 to €52,254
- Staff costs -€25,006
down €25,006 (-38.1%), from €65,643 to €40,638
- Depreciation +€2,574
up €2,574 (+879.3%), from €293 to €2,867
- Other operating charges -€2,516
down €2,516 (-67.5%), from €3,727 to €1,210
- Financial charges +€1,496
up €1,496 (+36.6%), from €4,092 to €5,588
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 | €13,102 | €269,645 | +€256,542 | +1958.0% |
| Fixed assets | 21/28 | €1,071 | €216,004 | +€214,933 | +20066.6% |
| Tangible fixed assets | 22/27 | €1,071 | €216,004 | +€214,933 | +20066.6% |
| Land and buildings | 22 | - | €214,337 | +€214,337 | |
| Plant, machinery and equipment | 23 | €198 | €32 | -€167 | -84.1% |
| Furniture and vehicles | 24 | €873 | €1,636 | +€763 | +87.4% |
| Current assets | 29/58 | €12,031 | €53,640 | +€41,609 | +345.8% |
| Stocks and contracts in progress | 3 | €9,692 | €11,864 | +€2,171 | +22.4% |
| Stocks | 30/36 | €9,692 | €11,864 | +€2,171 | +22.4% |
| Amounts receivable within one year | 40/41 | €2,078 | €20,605 | +€18,527 | +891.6% |
| Trade receivables | 40 | €875 | €19,388 | +€18,513 | +2115.0% |
| Other amounts receivable | 41 | €1,203 | €1,217 | +€14 | +1.2% |
| Cash at bank and in hand | 54/58 | €38 | €20,542 | +€20,503 | +53687.9% |
| Deferred charges and accrued income | 490/1 | €222 | €630 | +€407 | +183.0% |
| Total equity and liabilities | 10/49 | €13,102 | €269,645 | +€256,542 | +1958.0% |
| Equity | 10/15 | -€41,417 | -€39,428 | +€1,990 | +4.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€47,617 | -€45,628 | +€1,990 | +4.2% |
| Amounts payable | 17/49 | €54,520 | €309,072 | +€254,553 | +466.9% |
| Amounts payable after more than one year | 17 | - | €251,986 | +€251,986 | |
| Financial debts | 170/4 | - | €251,986 | +€251,986 | |
| Amounts payable within one year | 42/48 | €52,478 | €56,504 | +€4,026 | +7.7% |
| Current portion of amounts payable after more than one year | 42 | €2,506 | €9,279 | +€6,773 | +270.3% |
| Financial debts | 43 | €664 | - | -€664 | |
| Credit institutions | 430/8 | €664 | - | -€664 | |
| Trade debts | 44 | €22,760 | €14,045 | -€8,715 | -38.3% |
| Suppliers | 440/4 | €22,760 | €14,045 | -€8,715 | -38.3% |
| Taxes, remuneration and social security | 45 | €21,009 | €8,215 | -€12,793 | -60.9% |
| Taxes | 450/3 | €14,227 | €1,413 | -€12,814 | -90.1% |
| Remuneration and social security | 454/9 | €6,781 | €6,802 | +€21 | +0.3% |
| Other amounts payable | 47/48 | €5,539 | €24,965 | +€19,425 | +350.7% |
| Accrued charges and deferred income | 492/3 | €2,042 | €582 | -€1,459 | -71.5% |
| Remuneration, social security and pensions | 62 | €65,643 | €40,638 | -€25,006 | -38.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €293 | €2,867 | +€2,574 | +879.3% |
| Other operating charges | 640/8 | €3,727 | €1,210 | -€2,516 | -67.5% |
| Gross operating margin | 9900 | €79,420 | €52,254 | -€27,166 | -34.2% |
| Operating profit (loss) | 9901 | €9,758 | €7,539 | -€2,218 | -22.7% |
| Financial income | 75/76B | €85 | €38 | -€47 | -54.9% |
| Recurring financial income | 75 | €85 | €38 | -€47 | -54.9% |
| Financial charges | 65/66B | €4,092 | €5,588 | +€1,496 | +36.6% |
| Recurring financial charges | 65 | €4,092 | €5,588 | +€1,496 | +36.6% |
| Profit (loss) for the period before taxes | 9903 | €5,751 | €1,990 | -€3,761 | -65.4% |
| Profit (loss) for the period | 9904 | €5,751 | €1,990 | -€3,761 | -65.4% |
| Profit (loss) for the period to be appropriated | 9905 | €5,751 | €1,990 | -€3,761 | -65.4% |
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 6 October 2026 via checked.be.