Elitso: 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.
Elitso
Largest movements
- Stocks and contracts -€530,484
down €530,484 (-41.5%), from €1.3m to €749,025
of which Contracts in progress: -€540,000
- Receivables within one year +€292,778
up €292,778 (+177.8%), from €164,624 to €457,402
of which Trade receivables: +€395,540
- Cash +€54,041
up €54,041 (+1527.9%), from €3,537 to €57,577
mainly Stocks and contracts (+€530,484) and Tax, wage and social debts (+€65,908)
- Deferred charges and accrued income +€21,010
up €21,010 (+1485.3%), from €1,415 to €22,424
- Other debts -€149,157
down €149,157 (-28.1%), from €530,000 to €380,843
- Short-term financial debts -€112,016
down €112,016 (-95.7%), from €117,073 to €5,057
- Tax, wage and social debts +€65,908
new in 2025: €65,908
- Trade debts +€45,494
up €45,494 (+182.4%), from €24,949 to €70,443
- Debts after one year -€17,183
down €17,183 (-3.7%), from €461,788 to €444,605
- Other operating charges +€16,050
up €16,050 (+1639.5%), from €979 to €17,029
- Gross operating margin -€12,795
down €12,795 (-18.8%), from €67,989 to €55,194
- Taxes -€7,415
down €7,415 (-79.1%), from €9,368 to €1,953
- Financial charges +€1,400
up €1,400 (+4.5%), from €31,006 to €32,406
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 | €1,449,086 | €1,286,429 | -€162,656 | -11.2% |
| Current assets | 29/58 | €1,449,086 | €1,286,429 | -€162,656 | -11.2% |
| Stocks and contracts in progress | 3 | €1,279,510 | €749,025 | -€530,484 | -41.5% |
| Stocks | 30/36 | €529,510 | €539,025 | +€9,516 | +1.8% |
| Contracts in progress | 37 | €750,000 | €210,000 | -€540,000 | -72.0% |
| Amounts receivable within one year | 40/41 | €164,624 | €457,402 | +€292,778 | +177.8% |
| Trade receivables | 40 | €48,816 | €444,356 | +€395,540 | +810.3% |
| Other amounts receivable | 41 | €115,809 | €13,047 | -€102,762 | -88.7% |
| Cash at bank and in hand | 54/58 | €3,537 | €57,577 | +€54,041 | +1527.9% |
| Deferred charges and accrued income | 490/1 | €1,415 | €22,424 | +€21,010 | +1485.3% |
| Total equity and liabilities | 10/49 | €1,449,086 | €1,286,429 | -€162,656 | -11.2% |
| Equity | 10/15 | €298,584 | €302,390 | +€3,805 | +1.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €278,584 | €282,390 | +€3,805 | +1.4% |
| Distributable reserves | 133 | €278,584 | €282,390 | +€3,805 | +1.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €1,150,501 | €984,039 | -€166,462 | -14.5% |
| Amounts payable after more than one year | 17 | €461,788 | €444,605 | -€17,183 | -3.7% |
| Financial debts | 170/4 | €461,788 | €444,605 | -€17,183 | -3.7% |
| Amounts payable within one year | 42/48 | €688,540 | €539,434 | -€149,105 | -21.7% |
| Current portion of amounts payable after more than one year | 42 | €16,519 | €17,183 | +€664 | +4.0% |
| Financial debts | 43 | €117,073 | €5,057 | -€112,016 | -95.7% |
| Credit institutions | 430/8 | €117,073 | €5,057 | -€112,016 | -95.7% |
| Trade debts | 44 | €24,949 | €70,443 | +€45,494 | +182.4% |
| Suppliers | 440/4 | €24,949 | €70,443 | +€45,494 | +182.4% |
| Taxes, remuneration and social security | 45 | - | €65,908 | +€65,908 | |
| Taxes | 450/3 | - | €65,908 | +€65,908 | |
| Other amounts payable | 47/48 | €530,000 | €380,843 | -€149,157 | -28.1% |
| Accrued charges and deferred income | 492/3 | €173 | €0 | -€173 | -100.0% |
| Other operating charges | 640/8 | €979 | €17,029 | +€16,050 | +1639.5% |
| Gross operating margin | 9900 | €67,989 | €55,194 | -€12,795 | -18.8% |
| Operating profit (loss) | 9901 | €67,010 | €38,165 | -€28,845 | -43.0% |
| Financial income | 75/76B | €119 | €0 | -€119 | -100.0% |
| Recurring financial income | 75 | €119 | €0 | -€119 | -100.0% |
| Financial charges | 65/66B | €31,006 | €32,406 | +€1,400 | +4.5% |
| Recurring financial charges | 65 | €31,006 | €32,406 | +€1,400 | +4.5% |
| Profit (loss) for the period before taxes | 9903 | €36,123 | €5,759 | -€30,364 | -84.1% |
| Income taxes | 67/77 | €9,368 | €1,953 | -€7,415 | -79.1% |
| Profit (loss) for the period | 9904 | €26,755 | €3,805 | -€22,950 | -85.8% |
| Profit (loss) for the period to be appropriated | 9905 | €26,755 | €3,805 | -€22,950 | -85.8% |
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.