ELIVIAM: 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.
ELIVIAM
Largest movements
- Cash -€453,157
down €453,157 (-89.9%), from €504,153 to €50,996
- Receivables within one year +€114,908
up €114,908 (+168.8%), from €68,056 to €182,965
of which Other amounts receivable: +€158,055
- Financial fixed assets -€63,798
down €63,798 (-99.7%), from €63,998 to €200
- Current investments -€22,800
down €22,800 (-11.4%), from €200,000 to €177,200
- Deferred charges and accrued income -€10,201
down €10,201 (-59.0%), from €17,276 to €7,075
- Profit (loss) carried forward -€553,318
down €553,318, from €269,746 to -€283,571
- Reserves +€207,976
up €207,976 (+264.3%), from €78,684 to €286,660
of which Non-distributable reserves: +€152,016
- Trade debts -€45,232
down €45,232 (-92.7%), from €48,784 to €3,552
of which Bills of exchange payable: -€45,128
- Other debts -€44,728
down €44,728 (-84.8%), from €52,728 to €8,000
- Gross operating margin -€23,094
down €23,094 (-21.5%), from €107,297 to €84,203
- Financial income +€5,249
new in 2025: €5,249
- Taxes +€4,755
up €4,755 (+25.7%), from €18,496 to €23,251
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €856,206 | €419,309 | -€436,897 | -51.0% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €66,721 | €1,073 | -€65,648 | -98.4% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €2,723 | €873 | -€1,850 | -67.9% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €2,723 | €873 | -€1,850 | -67.9% |
| Financial fixed assets | 28 | €63,998 | €200 | -€63,798 | -99.7% |
| Current assets | 29/58 | €789,485 | €418,235 | -€371,250 | -47.0% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €68,056 | €182,965 | +€114,908 | +168.8% |
| Trade receivables | 40 | €54,108 | €10,961 | -€43,147 | -79.7% |
| Other amounts receivable | 41 | €13,948 | €172,004 | +€158,055 | +1133.1% |
| Current investments | 50/53 | €200,000 | €177,200 | -€22,800 | -11.4% |
| Cash at bank and in hand | 54/58 | €504,153 | €50,996 | -€453,157 | -89.9% |
| Deferred charges and accrued income | 490/1 | €17,276 | €7,075 | -€10,201 | -59.0% |
| Total equity and liabilities | 10/49 | €856,206 | €419,309 | -€436,897 | -51.0% |
| Equity | 10/15 | €742,355 | €397,013 | -€345,342 | -46.5% |
| Contributions | 10/11 | €393,924 | €393,924 | = | 0.0% |
| Reserves | 13 | €78,684 | €286,660 | +€207,976 | +264.3% |
| Non-distributable reserves | 130/1 | €25,184 | €177,200 | +€152,016 | +603.6% |
| Reserves not available under the articles | 1311 | €25,184 | - | -€25,184 | |
| Own shares acquired | 1312 | - | €177,200 | +€177,200 | |
| Tax-exempt reserves | 132 | €53,500 | €109,460 | +€55,960 | +104.6% |
| Profit (loss) carried forward | 14 | €269,746 | -€283,571 | -€553,318 | |
| Amounts payable | 17/49 | €113,851 | €22,296 | -€91,555 | -80.4% |
| Amounts payable within one year | 42/48 | €113,851 | €22,296 | -€91,555 | -80.4% |
| Trade debts | 44 | €48,784 | €3,552 | -€45,232 | -92.7% |
| Suppliers | 440/4 | €3,656 | €3,552 | -€104 | -2.8% |
| Bills of exchange payable | 441 | €45,128 | - | -€45,128 | |
| Taxes, remuneration and social security | 45 | €12,340 | €10,744 | -€1,596 | -12.9% |
| Taxes | 450/3 | €12,340 | €7,688 | -€4,651 | -37.7% |
| Remuneration and social security | 454/9 | - | €3,056 | +€3,056 | |
| Other amounts payable | 47/48 | €52,728 | €8,000 | -€44,728 | -84.8% |
| Non-recurring operating income | 76A | €1,179 | €0 | -€1,179 | -100.0% |
| Remuneration, social security and pensions | 62 | €0 | €284 | +€284 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52 | €925 | +€873 | +1688.9% |
| Other operating charges | 640/8 | €829 | €945 | +€116 | +14.0% |
| Gross operating margin | 9900 | €107,297 | €84,203 | -€23,094 | -21.5% |
| Operating profit (loss) | 9901 | €106,416 | €82,049 | -€24,367 | -22.9% |
| Financial income | 75/76B | - | €5,249 | +€5,249 | |
| Recurring financial income | 75 | - | €5,249 | +€5,249 | |
| Financial charges | 65/66B | €734 | €1,220 | +€486 | +66.2% |
| Recurring financial charges | 65 | €734 | €1,220 | +€486 | +66.2% |
| Profit (loss) for the period before taxes | 9903 | €105,682 | €86,078 | -€19,604 | -18.5% |
| Income taxes | 67/77 | €18,496 | €23,251 | +€4,755 | +25.7% |
| Profit (loss) for the period | 9904 | €87,187 | €62,827 | -€24,359 | -27.9% |
| Transfer to tax-exempt reserves | 689 | €53,500 | €33,680 | -€19,820 | -37.0% |
| Profit (loss) for the period to be appropriated | 9905 | €33,687 | €29,147 | -€4,539 | -13.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 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.