ELIWAN: 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.
ELIWAN
Largest movements
- Cash +€36,034
up €36,034 (+51.7%), from €69,652 to €105,686
mainly Net result for the year (+€26,737) and Depreciation (+€4,485)
- Tangible fixed assets -€4,485
down €4,485 (-18.7%), from €24,017 to €19,532
of which Other tangible fixed assets: -€2,792
- Receivables within one year -€3,111
down €3,111 (-20.8%), from €14,930 to €11,820
of which Trade receivables: -€2,092
- Reserves +€26,737
up €26,737 (+28.0%), from €95,608 to €122,345
- Gross operating margin -€5,288
down €5,288 (-11.1%), from €47,623 to €42,336
- Taxes -€1,726
down €1,726 (-14.3%), from €12,043 to €10,317
- Depreciation +€1,411
up €1,411 (+45.9%), from €3,074 to €4,485
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 | €110,037 | €138,510 | +€28,472 | +25.9% |
| Fixed assets | 21/28 | €24,017 | €19,532 | -€4,485 | -18.7% |
| Tangible fixed assets | 22/27 | €24,017 | €19,532 | -€4,485 | -18.7% |
| Furniture and vehicles | 24 | €8,185 | €6,492 | -€1,694 | -20.7% |
| Other tangible fixed assets | 26 | €15,832 | €13,040 | -€2,792 | -17.6% |
| Current assets | 29/58 | €86,020 | €118,978 | +€32,958 | +38.3% |
| Amounts receivable within one year | 40/41 | €14,930 | €11,820 | -€3,111 | -20.8% |
| Trade receivables | 40 | €13,644 | €11,552 | -€2,092 | -15.3% |
| Other amounts receivable | 41 | €1,286 | €267 | -€1,019 | -79.2% |
| Current investments | 50/53 | €250 | €250 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €69,652 | €105,686 | +€36,034 | +51.7% |
| Deferred charges and accrued income | 490/1 | €1,187 | €1,222 | +€35 | +2.9% |
| Total equity and liabilities | 10/49 | €110,037 | €138,510 | +€28,472 | +25.9% |
| Equity | 10/15 | €96,208 | €122,945 | +€26,737 | +27.8% |
| Contributions | 10/11 | €600 | €600 | = | 0.0% |
| Reserves | 13 | €95,608 | €122,345 | +€26,737 | +28.0% |
| Distributable reserves | 133 | €95,608 | €122,345 | +€26,737 | +28.0% |
| Amounts payable | 17/49 | €13,829 | €15,565 | +€1,736 | +12.5% |
| Amounts payable within one year | 42/48 | €13,829 | €15,565 | +€1,736 | +12.5% |
| Trade debts | 44 | €2,460 | €2,855 | +€395 | +16.1% |
| Suppliers | 440/4 | €2,460 | €2,855 | +€395 | +16.1% |
| Taxes, remuneration and social security | 45 | €11,369 | €12,710 | +€1,340 | +11.8% |
| Taxes | 450/3 | €11,369 | €12,710 | +€1,340 | +11.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,074 | €4,485 | +€1,411 | +45.9% |
| Other operating charges | 640/8 | €518 | €520 | +€1 | +0.3% |
| Gross operating margin | 9900 | €47,623 | €42,336 | -€5,288 | -11.1% |
| Operating profit (loss) | 9901 | €44,031 | €37,331 | -€6,700 | -15.2% |
| Financial income | 75/76B | €10 | €0 | -€10 | -98.6% |
| Recurring financial income | 75 | €10 | €0 | -€10 | -98.6% |
| Financial charges | 65/66B | €323 | €277 | -€46 | -14.3% |
| Recurring financial charges | 65 | €323 | €277 | -€46 | -14.3% |
| Profit (loss) for the period before taxes | 9903 | €43,718 | €37,054 | -€6,664 | -15.2% |
| Income taxes | 67/77 | €12,043 | €10,317 | -€1,726 | -14.3% |
| Profit (loss) for the period | 9904 | €31,675 | €26,737 | -€4,938 | -15.6% |
| Profit (loss) for the period to be appropriated | 9905 | €31,675 | €26,737 | -€4,938 | -15.6% |
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 2 October 2026 via checked.be.