ELL. Law: 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.
ELL. Law
Largest movements
- Receivables within one year +€135,178
up €135,178 (+64.9%), from €208,437 to €343,615
- Deferred charges and accrued income -€75,859
down €75,859 (-86.1%), from €88,111 to €12,252
- Cash +€42,018
up €42,018 (+35.5%), from €118,345 to €160,363
mainly Trade debts (+€457,678) and Deferred charges and accrued income (+€75,859)
- Tangible fixed assets -€10,391
down €10,391 (-31.4%), from €33,134 to €22,742
of which Plant, machinery and equipment: -€10,061
- Trade debts +€457,678
up €457,678 (+2,989%), from €15,313 to €472,991
- Accrued charges and deferred income -€384,323
down €384,323 (-100%), from €384,323 to €0
- Reserves +€11,901
up €11,901 (+80.1%), from €14,861 to €26,762
- Tax, wage and social debts +€5,628
up €5,628 (+48.4%), from €11,638 to €17,266
of which Taxes: +€3,317
- Gross operating margin +€12,222
up €12,222 (+23.6%), from €51,855 to €64,077
- Depreciation +€8,797
up €8,797 (+283%), from €3,111 to €11,908
- Staff costs +€7,158
up €7,158 (+25.4%), from €28,222 to €35,381
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 | €448,552 | €539,497 | +€90,946 | +20.3% |
| Fixed assets | 21/28 | €33,659 | €23,267 | -€10,391 | -30.9% |
| Tangible fixed assets | 22/27 | €33,134 | €22,742 | -€10,391 | -31.4% |
| Plant, machinery and equipment | 23 | €31,542 | €21,482 | -€10,061 | -31.9% |
| Furniture and vehicles | 24 | €1,591 | €1,260 | -€331 | -20.8% |
| Financial fixed assets | 28 | €525 | €525 | = | 0.0% |
| Current assets | 29/58 | €414,893 | €516,230 | +€101,337 | +24.4% |
| Amounts receivable within one year | 40/41 | €208,437 | €343,615 | +€135,178 | +64.9% |
| Trade receivables | 40 | €208,437 | €343,615 | +€135,178 | +64.9% |
| Cash at bank and in hand | 54/58 | €118,345 | €160,363 | +€42,018 | +35.5% |
| Deferred charges and accrued income | 490/1 | €88,111 | €12,252 | -€75,859 | -86.1% |
| Total equity and liabilities | 10/49 | €448,552 | €539,497 | +€90,946 | +20.3% |
| Equity | 10/15 | €34,861 | €46,762 | +€11,901 | +34.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €14,861 | €26,762 | +€11,901 | +80.1% |
| Distributable reserves | 133 | €14,861 | €26,762 | +€11,901 | +80.1% |
| Amounts payable | 17/49 | €413,691 | €492,736 | +€79,045 | +19.1% |
| Amounts payable within one year | 42/48 | €29,368 | €492,736 | +€463,367 | +1,578% |
| Trade debts | 44 | €15,313 | €472,991 | +€457,678 | +2,989% |
| Suppliers | 440/4 | €15,313 | €472,991 | +€457,678 | +2,989% |
| Taxes, remuneration and social security | 45 | €11,638 | €17,266 | +€5,628 | +48.4% |
| Taxes | 450/3 | €8,011 | €11,328 | +€3,317 | +41.4% |
| Remuneration and social security | 454/9 | €3,627 | €5,938 | +€2,311 | +63.7% |
| Other amounts payable | 47/48 | €2,417 | €2,479 | +€62 | +2.6% |
| Accrued charges and deferred income | 492/3 | €384,323 | €0 | -€384,323 | -100% |
| Remuneration, social security and pensions | 62 | €28,222 | €35,381 | +€7,158 | +25.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,111 | €11,908 | +€8,797 | +283% |
| Other operating charges | 640/8 | €224 | €66 | -€158 | -70.7% |
| Gross operating margin | 9900 | €51,855 | €64,077 | +€12,222 | +23.6% |
| Operating profit (loss) | 9901 | €20,298 | €16,723 | -€3,576 | -17.6% |
| Financial income | 75/76B | €0 | €0 | +€0 | +250% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +250% |
| Financial charges | 65/66B | €309 | €233 | -€76 | -24.6% |
| Recurring financial charges | 65 | €309 | €233 | -€76 | -24.6% |
| Profit (loss) for the period before taxes | 9903 | €19,990 | €16,490 | -€3,500 | -17.5% |
| Income taxes | 67/77 | €5,129 | €4,589 | -€540 | -10.5% |
| Profit (loss) for the period | 9904 | €14,861 | €11,901 | -€2,960 | -19.9% |
| Profit (loss) for the period to be appropriated | 9905 | €14,861 | €11,901 | -€2,960 | -19.9% |
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 29 October 2026 via checked.be.