ELLANEST: 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.
ELLANEST
Largest movements
- Cash -€111,669
down €111,669 (-55.2%), from €202,215 to €90,546
mainly Debts after one year (-€155,000) and Accrued charges and deferred income (-€40,208)
- Tangible fixed assets -€50,998
down €50,998 (-24.5%), from €207,752 to €156,754
of which Land and buildings: -€31,592
- Deferred charges and accrued income +€5,828
up €5,828 (+150%), from €3,873 to €9,701
- Debts after one year -€155,000
no longer reported in 2025 (was €155,000)
- Accrued charges and deferred income -€40,208
no longer reported in 2025 (was €40,208)
- Reserves +€31,020
up €31,020 (+16.4%), from €189,450 to €220,470
- Tax, wage and social debts +€5,807
up €5,807 (+34.0%), from €17,058 to €22,864
- Gross operating margin -€33,049
down €33,049 (-20.1%), from €164,613 to €131,564
- Taxes -€6,836
down €6,836 (-24.9%), from €27,418 to €20,582
- Financial charges -€6,237
down €6,237 (-75.6%), from €8,247 to €2,010
- Depreciation -€3,290
down €3,290 (-5.7%), from €57,761 to €54,471
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 | €415,354 | €257,000 | -€158,354 | -38.1% |
| Fixed assets | 21/28 | €207,752 | €156,754 | -€50,998 | -24.5% |
| Tangible fixed assets | 22/27 | €207,752 | €156,754 | -€50,998 | -24.5% |
| Land and buildings | 22 | €125,414 | €93,822 | -€31,592 | -25.2% |
| Plant, machinery and equipment | 23 | €8,220 | €7,146 | -€1,074 | -13.1% |
| Furniture and vehicles | 24 | €74,118 | €55,786 | -€18,332 | -24.7% |
| Current assets | 29/58 | €207,602 | €100,246 | -€107,356 | -51.7% |
| Amounts receivable within one year | 40/41 | €1,514 | - | -€1,514 | |
| Other amounts receivable | 41 | €1,514 | - | -€1,514 | |
| Cash at bank and in hand | 54/58 | €202,215 | €90,546 | -€111,669 | -55.2% |
| Deferred charges and accrued income | 490/1 | €3,873 | €9,701 | +€5,828 | +150% |
| Total equity and liabilities | 10/49 | €415,354 | €257,000 | -€158,354 | -38.1% |
| Equity | 10/15 | €203,089 | €234,131 | +€31,042 | +15.3% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €189,450 | €220,470 | +€31,020 | +16.4% |
| Distributable reserves | 133 | €189,450 | €220,470 | +€31,020 | +16.4% |
| Profit (loss) carried forward | 14 | €1,139 | €1,161 | +€22 | +1.9% |
| Amounts payable | 17/49 | €212,265 | €22,870 | -€189,395 | -89.2% |
| Amounts payable after more than one year | 17 | €155,000 | - | -€155,000 | |
| Financial debts | 170/4 | €155,000 | - | -€155,000 | |
| Amounts payable within one year | 42/48 | €17,058 | €22,870 | +€5,812 | +34.1% |
| Taxes, remuneration and social security | 45 | €17,058 | €22,864 | +€5,807 | +34.0% |
| Taxes | 450/3 | €17,058 | €22,864 | +€5,807 | +34.0% |
| Other amounts payable | 47/48 | - | €5 | +€5 | |
| Accrued charges and deferred income | 492/3 | €40,208 | - | -€40,208 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,761 | €54,471 | -€3,290 | -5.7% |
| Other operating charges | 640/8 | €2,384 | €2,456 | +€72 | +3.0% |
| Gross operating margin | 9900 | €164,613 | €131,564 | -€33,049 | -20.1% |
| Operating profit (loss) | 9901 | €104,468 | €74,637 | -€29,831 | -28.6% |
| Financial income | 75/76B | €1,091 | €477 | -€615 | -56.3% |
| Recurring financial income | 75 | €1,091 | €477 | -€615 | -56.3% |
| Financial charges | 65/66B | €8,247 | €2,010 | -€6,237 | -75.6% |
| Recurring financial charges | 65 | €8,247 | €2,010 | -€6,237 | -75.6% |
| Profit (loss) for the period before taxes | 9903 | €97,312 | €73,103 | -€24,209 | -24.9% |
| Income taxes | 67/77 | €27,418 | €20,582 | -€6,836 | -24.9% |
| Profit (loss) for the period | 9904 | €69,895 | €52,522 | -€17,373 | -24.9% |
| Profit (loss) for the period to be appropriated | 9905 | €69,895 | €52,522 | -€17,373 | -24.9% |
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 16 October 2026 via checked.be.