ELKANOA: 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.
ELKANOA
Largest movements
- Tangible fixed assets +€11,395
up €11,395 (+138%), from €8,253 to €19,648
of which Furniture and vehicles: +€6,865
- Stocks and contracts +€1,925
up €1,925 (+216%), from €890 to €2,815
- Receivables within one year -€962
down €962 (-59.3%), from €1,623 to €661
of which Trade receivables: -€1,307
- Cash -€386
down €386 (-44.4%), from €870 to €483
mainly Investment in fixed assets (net) (-€13,200) and Stocks and contracts (-€1,925)
- Debts after one year +€8,500
new in 2025: €8,500
- Profit (loss) carried forward +€3,022
up €3,022 (+25.6%), from -€11,798 to -€8,777
- Other debts +€1,067
up €1,067 (+6.2%), from €17,267 to €18,335
- Trade debts -€428
down €428 (-25.6%), from €1,672 to €1,244
- Gross operating margin +€16,869
up €16,869, from -€11,760 to €5,109
- Depreciation +€1,713
up €1,713 (+1,858%), from €92 to €1,805
- Other operating charges +€271
new in 2025: €271
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.
Derived cash bridge
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 | €12,141 | €24,302 | +€12,161 | +100% |
| Fixed assets | 21/28 | €8,253 | €19,648 | +€11,395 | +138% |
| Tangible fixed assets | 22/27 | €8,253 | €19,648 | +€11,395 | +138% |
| Plant, machinery and equipment | 23 | €1,093 | €3,346 | +€2,253 | +206% |
| Furniture and vehicles | 24 | - | €6,865 | +€6,865 | |
| Other tangible fixed assets | 26 | €7,160 | €9,437 | +€2,277 | +31.8% |
| Current assets | 29/58 | €3,888 | €4,654 | +€766 | +19.7% |
| Stocks and contracts in progress | 3 | €890 | €2,815 | +€1,925 | +216% |
| Stocks | 30/36 | €890 | €2,815 | +€1,925 | +216% |
| Amounts receivable within one year | 40/41 | €1,623 | €661 | -€962 | -59.3% |
| Trade receivables | 40 | €1,307 | €0 | -€1,307 | -100% |
| Other amounts receivable | 41 | €317 | €661 | +€345 | +109% |
| Cash at bank and in hand | 54/58 | €870 | €483 | -€386 | -44.4% |
| Deferred charges and accrued income | 490/1 | €506 | €695 | +€189 | +37.4% |
| Total equity and liabilities | 10/49 | €12,141 | €24,302 | +€12,161 | +100% |
| Equity | 10/15 | -€6,798 | -€3,777 | +€3,022 | +44.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,798 | -€8,777 | +€3,022 | +25.6% |
| Amounts payable | 17/49 | €18,939 | €28,078 | +€9,139 | +48.3% |
| Amounts payable after more than one year | 17 | - | €8,500 | +€8,500 | |
| Financial debts | 170/4 | - | €8,500 | +€8,500 | |
| Amounts payable within one year | 42/48 | €18,939 | €19,578 | +€639 | +3.4% |
| Trade debts | 44 | €1,672 | €1,244 | -€428 | -25.6% |
| Suppliers | 440/4 | €1,672 | €1,244 | -€428 | -25.6% |
| Other amounts payable | 47/48 | €17,267 | €18,335 | +€1,067 | +6.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €92 | €1,805 | +€1,713 | +1,858% |
| Other operating charges | 640/8 | - | €271 | +€271 | |
| Gross operating margin | 9900 | -€11,760 | €5,109 | +€16,869 | |
| Operating profit (loss) | 9901 | -€11,852 | €3,032 | +€14,884 | |
| Financial income | 75/76B | €90 | €31 | -€59 | -66.0% |
| Recurring financial income | 75 | €90 | €31 | -€59 | -66.0% |
| Financial charges | 65/66B | €36 | €41 | +€5 | +13.0% |
| Recurring financial charges | 65 | €36 | €41 | +€5 | +13.0% |
| Profit (loss) for the period before taxes | 9903 | -€11,798 | €3,022 | +€14,820 | |
| Profit (loss) for the period | 9904 | -€11,798 | €3,022 | +€14,820 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,798 | €3,022 | +€14,820 |
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 15 October 2026 via checked.be.