ELLA MANAGEMENT: 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.
ELLA MANAGEMENT
Largest movements
- Current investments +€130,846
up €130,846 (+33.6%), from €388,883 to €519,729
- Tangible fixed assets -€22,467
down €22,467 (-9.2%), from €243,222 to €220,755
of which Furniture and vehicles: -€11,615
- Cash +€11,124
up €11,124 (+21.2%), from €52,413 to €63,537
mainly Other debts (+€200,233) and Net result for the year (+€132,478)
- Other debts +€200,233
up €200,233 (+12656.9%), from €1,582 to €201,815
- Reserves -€82,140
down €82,140 (-15.3%), from €538,500 to €456,360
of which Distributable reserves: -€82,140
- Tax, wage and social debts +€29,788
up €29,788 (+148.9%), from €20,007 to €49,795
of which Taxes: +€31,638
- Debts after one year -€15,622
down €15,622 (-14.3%), from €108,933 to €93,311
- Current portion of long-term debt -€10,424
down €10,424 (-31.5%), from €33,137 to €22,713
- Taxes +€21,369
up €21,369 (+58.3%), from €36,625 to €57,993
- Gross operating margin -€13,491
down €13,491 (-5.9%), from €229,058 to €215,567
- Depreciation -€8,533
down €8,533 (-27.5%), from €31,000 to €22,467
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 | €727,680 | €850,447 | +€122,767 | +16.9% |
| Fixed assets | 21/28 | €243,222 | €220,755 | -€22,467 | -9.2% |
| Tangible fixed assets | 22/27 | €243,222 | €220,755 | -€22,467 | -9.2% |
| Land and buildings | 22 | €225,729 | €217,828 | -€7,901 | -3.5% |
| Plant, machinery and equipment | 23 | €4,573 | €1,622 | -€2,951 | -64.5% |
| Furniture and vehicles | 24 | €12,919 | €1,305 | -€11,615 | -89.9% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €484,458 | €629,692 | +€145,234 | +30.0% |
| Amounts receivable within one year | 40/41 | €35,440 | €41,903 | +€6,463 | +18.2% |
| Trade receivables | 40 | €35,440 | €40,962 | +€5,522 | +15.6% |
| Other amounts receivable | 41 | - | €941 | +€941 | |
| Current investments | 50/53 | €388,883 | €519,729 | +€130,846 | +33.6% |
| Cash at bank and in hand | 54/58 | €52,413 | €63,537 | +€11,124 | +21.2% |
| Deferred charges and accrued income | 490/1 | €7,721 | €4,522 | -€3,199 | -41.4% |
| Total equity and liabilities | 10/49 | €727,680 | €850,447 | +€122,767 | +16.9% |
| Equity | 10/15 | €544,700 | €462,560 | -€82,140 | -15.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €538,500 | €456,360 | -€82,140 | -15.3% |
| Tax-exempt reserves | 132 | €52,418 | €52,418 | = | 0.0% |
| Distributable reserves | 133 | €486,082 | €403,942 | -€82,140 | -16.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €17,473 | €17,473 | = | 0.0% |
| Deferred taxes | 168 | €17,473 | €17,473 | = | 0.0% |
| Amounts payable | 17/49 | €165,507 | €370,414 | +€204,907 | +123.8% |
| Amounts payable after more than one year | 17 | €108,933 | €93,311 | -€15,622 | -14.3% |
| Financial debts | 170/4 | €108,933 | €93,311 | -€15,622 | -14.3% |
| Amounts payable within one year | 42/48 | €55,775 | €276,458 | +€220,683 | +395.7% |
| Current portion of amounts payable after more than one year | 42 | €33,137 | €22,713 | -€10,424 | -31.5% |
| Financial debts | 43 | - | €265 | +€265 | |
| Credit institutions | 430/8 | - | €265 | +€265 | |
| Trade debts | 44 | €1,049 | €1,871 | +€822 | +78.3% |
| Suppliers | 440/4 | €1,049 | €1,871 | +€822 | +78.3% |
| Taxes, remuneration and social security | 45 | €20,007 | €49,795 | +€29,788 | +148.9% |
| Taxes | 450/3 | €18,157 | €49,795 | +€31,638 | +174.3% |
| Remuneration and social security | 454/9 | €1,850 | €0 | -€1,850 | -100.0% |
| Other amounts payable | 47/48 | €1,582 | €201,815 | +€200,233 | +12656.9% |
| Accrued charges and deferred income | 492/3 | €798 | €644 | -€154 | -19.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,000 | €22,467 | -€8,533 | -27.5% |
| Other operating charges | 640/8 | €2,294 | €1,530 | -€764 | -33.3% |
| Non-recurring operating charges | 66A | €166 | €0 | -€166 | -100.0% |
| Gross operating margin | 9900 | €229,058 | €215,567 | -€13,491 | -5.9% |
| Operating profit (loss) | 9901 | €195,598 | €191,570 | -€4,028 | -2.1% |
| Financial income | 75/76B | €4,186 | €1,899 | -€2,286 | -54.6% |
| Recurring financial income | 75 | €4,186 | €1,899 | -€2,286 | -54.6% |
| Financial charges | 65/66B | €4,963 | €2,998 | -€1,964 | -39.6% |
| Recurring financial charges | 65 | €4,963 | €2,998 | -€1,964 | -39.6% |
| Profit (loss) for the period before taxes | 9903 | €194,821 | €190,471 | -€4,350 | -2.2% |
| Transfer to deferred taxes | 680 | €17,473 | €0 | -€17,473 | -100.0% |
| Income taxes | 67/77 | €36,625 | €57,993 | +€21,369 | +58.3% |
| Profit (loss) for the period | 9904 | €140,724 | €132,478 | -€8,246 | -5.9% |
| Transfer to tax-exempt reserves | 689 | €52,418 | €0 | -€52,418 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €88,306 | €132,478 | +€44,172 | +50.0% |
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 12 October 2026 via checked.be.