ELKOBE: 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.
ELKOBE
Largest movements
- Receivables within one year -€58,998
down €58,998 (-18.6%), from €317,438 to €258,440
of which Trade receivables: -€47,404
- Cash +€57,854
up €57,854 (+364.7%), from €15,865 to €73,718
mainly Receivables within one year (+€58,998) and Net result for the year (+€48,787)
- Stocks and contracts +€24,072
up €24,072 (+152.1%), from €15,823 to €39,895
- Tangible fixed assets -€21,677
down €21,677 (-25.0%), from €86,766 to €65,089
of which Furniture and vehicles: -€20,290
- Trade debts -€31,666
down €31,666 (-29.9%), from €105,856 to €74,189
- Other debts +€25,860
up €25,860 (+40.3%), from €64,202 to €90,062
- Reserves +€15,346
up €15,346 (+9.3%), from €164,993 to €180,339
of which Distributable reserves: +€16,206
- Debts after one year -€12,022
down €12,022 (-33.0%), from €36,451 to €24,429
- Tax, wage and social debts +€5,110
up €5,110 (+29.9%), from €17,110 to €22,219
of which Remuneration and social security: +€5,482
- Depreciation -€15,137
down €15,137 (-37.0%), from €40,886 to €25,748
- Staff costs +€9,201
up €9,201 (+4.6%), from €201,209 to €210,410
- Gross operating margin -€7,970
down €7,970 (-2.5%), from €315,157 to €307,187
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 | €442,263 | €443,692 | +€1,429 | +0.3% |
| Fixed assets | 21/28 | €86,766 | €65,089 | -€21,677 | -25.0% |
| Tangible fixed assets | 22/27 | €86,766 | €65,089 | -€21,677 | -25.0% |
| Plant, machinery and equipment | 23 | €8,083 | €6,695 | -€1,387 | -17.2% |
| Furniture and vehicles | 24 | €78,683 | €58,394 | -€20,290 | -25.8% |
| Current assets | 29/58 | €355,497 | €378,603 | +€23,106 | +6.5% |
| Stocks and contracts in progress | 3 | €15,823 | €39,895 | +€24,072 | +152.1% |
| Stocks | 30/36 | €15,823 | €39,895 | +€24,072 | +152.1% |
| Amounts receivable within one year | 40/41 | €317,438 | €258,440 | -€58,998 | -18.6% |
| Trade receivables | 40 | €259,217 | €211,813 | -€47,404 | -18.3% |
| Other amounts receivable | 41 | €58,220 | €46,626 | -€11,594 | -19.9% |
| Cash at bank and in hand | 54/58 | €15,865 | €73,718 | +€57,854 | +364.7% |
| Deferred charges and accrued income | 490/1 | €6,371 | €6,550 | +€179 | +2.8% |
| Total equity and liabilities | 10/49 | €442,263 | €443,692 | +€1,429 | +0.3% |
| Equity | 10/15 | €196,993 | €212,339 | +€15,346 | +7.8% |
| Contributions | 10/11 | €32,000 | €32,000 | = | 0.0% |
| Reserves | 13 | €164,993 | €180,339 | +€15,346 | +9.3% |
| Tax-exempt reserves | 132 | €3,367 | €2,508 | -€860 | -25.5% |
| Distributable reserves | 133 | €161,626 | €177,832 | +€16,206 | +10.0% |
| Provisions and deferred taxes | 16 | €10,102 | €7,523 | -€2,579 | -25.5% |
| Deferred taxes | 168 | €10,102 | €7,523 | -€2,579 | -25.5% |
| Amounts payable | 17/49 | €235,168 | €223,830 | -€11,338 | -4.8% |
| Amounts payable after more than one year | 17 | €36,451 | €24,429 | -€12,022 | -33.0% |
| Financial debts | 170/4 | €36,451 | €24,429 | -€12,022 | -33.0% |
| Amounts payable within one year | 42/48 | €198,718 | €198,492 | -€225 | -0.1% |
| Current portion of amounts payable after more than one year | 42 | €11,550 | €12,022 | +€471 | +4.1% |
| Trade debts | 44 | €105,856 | €74,189 | -€31,666 | -29.9% |
| Suppliers | 440/4 | €105,856 | €74,189 | -€31,666 | -29.9% |
| Taxes, remuneration and social security | 45 | €17,110 | €22,219 | +€5,110 | +29.9% |
| Taxes | 450/3 | €4,081 | €3,708 | -€373 | -9.1% |
| Remuneration and social security | 454/9 | €13,029 | €18,511 | +€5,482 | +42.1% |
| Other amounts payable | 47/48 | €64,202 | €90,062 | +€25,860 | +40.3% |
| Accrued charges and deferred income | 492/3 | - | €909 | +€909 | |
| Remuneration, social security and pensions | 62 | €201,209 | €210,410 | +€9,201 | +4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,886 | €25,748 | -€15,137 | -37.0% |
| Other operating charges | 640/8 | €2,729 | €2,305 | -€424 | -15.5% |
| Gross operating margin | 9900 | €315,157 | €307,187 | -€7,970 | -2.5% |
| Operating profit (loss) | 9901 | €70,333 | €68,724 | -€1,609 | -2.3% |
| Financial income | 75/76B | €3,022 | €2,834 | -€187 | -6.2% |
| Recurring financial income | 75 | €3,022 | €2,834 | -€187 | -6.2% |
| Financial charges | 65/66B | €6,793 | €5,609 | -€1,185 | -17.4% |
| Recurring financial charges | 65 | €6,793 | €5,609 | -€1,185 | -17.4% |
| Profit (loss) for the period before taxes | 9903 | €66,561 | €65,949 | -€612 | -0.9% |
| Transfer from deferred taxes | 780 | €2,579 | €2,579 | = | 0.0% |
| Income taxes | 67/77 | €22,179 | €19,742 | -€2,437 | -11.0% |
| Profit (loss) for the period | 9904 | €46,961 | €48,787 | +€1,826 | +3.9% |
| Transfer from tax-exempt reserves | 789 | €860 | €860 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €47,820 | €49,646 | +€1,826 | +3.8% |
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.