Elkapi: 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.
Elkapi
Largest movements
- Cash +€28,004
up €28,004 (+119.3%), from €23,472 to €51,476
mainly Net result for the year (+€45,567) and Other debts (+€21,756)
- Receivables within one year +€5,787
up €5,787 (+36.8%), from €15,730 to €21,517
of which Other amounts receivable: +€4,184
- Reserves +€93,663
new in 2025: €93,663
- Profit (loss) carried forward -€48,096
down €48,096 (-100.0%), from €48,096 to €0
- Other debts +€21,756
up €21,756 (+23162.1%), from €94 to €21,850
- Debts after one year -€21,696
down €21,696 (-26.2%), from €82,834 to €61,137
- Current portion of long-term debt -€21,056
no longer reported in 2025 (was €21,056)
- Gross operating margin +€12,455
up €12,455 (+25.5%), from €48,811 to €61,266
- Taxes +€2,055
up €2,055 (+21.4%), from €9,583 to €11,638
- Financial charges -€1,026
down €1,026 (-17.7%), from €5,781 to €4,756
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 | €182,720 | €214,289 | +€31,569 | +17.3% |
| Fixed assets | 21/28 | €10,373 | €9,867 | -€506 | -4.9% |
| Tangible fixed assets | 22/27 | €1,373 | €867 | -€506 | -36.8% |
| Plant, machinery and equipment | 23 | €346 | €867 | +€521 | +150.4% |
| Furniture and vehicles | 24 | €1,027 | - | -€1,027 | |
| Financial fixed assets | 28 | €9,000 | €9,000 | = | 0.0% |
| Current assets | 29/58 | €172,347 | €204,422 | +€32,074 | +18.6% |
| Amounts receivable after more than one year | 29 | €132,971 | €131,249 | -€1,722 | -1.3% |
| Other amounts receivable | 291 | €132,971 | €131,249 | -€1,722 | -1.3% |
| Amounts receivable within one year | 40/41 | €15,730 | €21,517 | +€5,787 | +36.8% |
| Trade receivables | 40 | €15,730 | €17,333 | +€1,603 | +10.2% |
| Other amounts receivable | 41 | - | €4,184 | +€4,184 | |
| Cash at bank and in hand | 54/58 | €23,472 | €51,476 | +€28,004 | +119.3% |
| Deferred charges and accrued income | 490/1 | €174 | €180 | +€6 | +3.4% |
| Total equity and liabilities | 10/49 | €182,720 | €214,289 | +€31,569 | +17.3% |
| Equity | 10/15 | €62,096 | €107,663 | +€45,567 | +73.4% |
| Contributions | 10/11 | €14,000 | €14,000 | = | 0.0% |
| Reserves | 13 | - | €93,663 | +€93,663 | |
| Distributable reserves | 133 | - | €93,663 | +€93,663 | |
| Profit (loss) carried forward | 14 | €48,096 | €0 | -€48,096 | -100.0% |
| Amounts payable | 17/49 | €120,624 | €106,626 | -€13,998 | -11.6% |
| Amounts payable after more than one year | 17 | €82,834 | €61,137 | -€21,696 | -26.2% |
| Financial debts | 170/4 | €82,834 | €61,137 | -€21,696 | -26.2% |
| Amounts payable within one year | 42/48 | €37,390 | €42,989 | +€5,599 | +15.0% |
| Current portion of amounts payable after more than one year | 42 | €21,056 | - | -€21,056 | |
| Trade debts | 44 | €342 | €1,000 | +€657 | +192.0% |
| Suppliers | 440/4 | €342 | €1,000 | +€657 | +192.0% |
| Taxes, remuneration and social security | 45 | €15,898 | €20,139 | +€4,242 | +26.7% |
| Taxes | 450/3 | €13,412 | €20,139 | +€6,727 | +50.2% |
| Remuneration and social security | 454/9 | €2,485 | €0 | -€2,485 | -100.0% |
| Other amounts payable | 47/48 | €94 | €21,850 | +€21,756 | +23162.1% |
| Accrued charges and deferred income | 492/3 | €401 | €2,500 | +€2,099 | +523.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €506 | €506 | = | 0.0% |
| Other operating charges | 640/8 | €431 | €390 | -€41 | -9.5% |
| Gross operating margin | 9900 | €48,811 | €61,266 | +€12,455 | +25.5% |
| Operating profit (loss) | 9901 | €47,874 | €60,370 | +€12,496 | +26.1% |
| Financial income | 75/76B | €1,313 | €1,590 | +€277 | +21.1% |
| Recurring financial income | 75 | €1,313 | €1,590 | +€277 | +21.1% |
| Financial charges | 65/66B | €5,781 | €4,756 | -€1,026 | -17.7% |
| Recurring financial charges | 65 | €5,781 | €4,756 | -€1,026 | -17.7% |
| Profit (loss) for the period before taxes | 9903 | €43,405 | €57,204 | +€13,799 | +31.8% |
| Income taxes | 67/77 | €9,583 | €11,638 | +€2,055 | +21.4% |
| Profit (loss) for the period | 9904 | €33,823 | €45,567 | +€11,744 | +34.7% |
| Profit (loss) for the period to be appropriated | 9905 | €33,823 | €45,567 | +€11,744 | +34.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.