ELLE: 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.
ELLE
Largest movements
- Cash +€13,068
up €13,068 (+51.7%), from €25,267 to €38,336
mainly Depreciation (+€8,008) and Net result for the year (+€7,474)
- Receivables within one year +€6,884
up €6,884 (+68.8%), from €10,011 to €16,895
of which Trade receivables: +€3,977
- Tangible fixed assets -€6,809
down €6,809 (-25.9%), from €26,292 to €19,483
of which Plant, machinery and equipment: -€6,087
- Stocks and contracts -€3,277
down €3,277 (-28.2%), from €11,635 to €8,358
- Deferred charges and accrued income +€1,450
up €1,450 (+14.8%), from €9,814 to €11,264
- Reserves +€7,400
up €7,400 (+18.4%), from €40,206 to €47,606
- Trade debts +€3,147
up €3,147 (+55.9%), from €5,635 to €8,782
- Other debts +€1,697
new in 2025: €1,697
- Tax, wage and social debts -€1,002
down €1,002 (-9.3%), from €10,784 to €9,782
- Gross operating margin -€12,049
down €12,049 (-32.4%), from €37,165 to €25,117
- Taxes -€4,306
down €4,306 (-47.4%), from €9,089 to €4,783
- Financial charges +€1,645
up €1,645 (+114.4%), from €1,437 to €3,082
- Depreciation +€1,581
up €1,581 (+24.6%), from €6,428 to €8,008
- Other operating charges +€1,095
up €1,095 (+162.3%), from €674 to €1,769
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 | €83,020 | €94,336 | +€11,316 | +13.6% |
| Fixed assets | 21/28 | €26,292 | €19,483 | -€6,809 | -25.9% |
| Tangible fixed assets | 22/27 | €26,292 | €19,483 | -€6,809 | -25.9% |
| Plant, machinery and equipment | 23 | €20,763 | €14,676 | -€6,087 | -29.3% |
| Furniture and vehicles | 24 | €5,529 | €4,807 | -€722 | -13.1% |
| Current assets | 29/58 | €56,728 | €74,853 | +€18,125 | +32.0% |
| Stocks and contracts in progress | 3 | €11,635 | €8,358 | -€3,277 | -28.2% |
| Stocks | 30/36 | €11,635 | €8,358 | -€3,277 | -28.2% |
| Amounts receivable within one year | 40/41 | €10,011 | €16,895 | +€6,884 | +68.8% |
| Trade receivables | 40 | €9,998 | €13,975 | +€3,977 | +39.8% |
| Other amounts receivable | 41 | €13 | €2,920 | +€2,907 | +22766.1% |
| Cash at bank and in hand | 54/58 | €25,267 | €38,336 | +€13,068 | +51.7% |
| Deferred charges and accrued income | 490/1 | €9,814 | €11,264 | +€1,450 | +14.8% |
| Total equity and liabilities | 10/49 | €83,020 | €94,336 | +€11,316 | +13.6% |
| Equity | 10/15 | €66,601 | €74,075 | +€7,474 | +11.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €40,206 | €47,606 | +€7,400 | +18.4% |
| Distributable reserves | 133 | €40,206 | €47,606 | +€7,400 | +18.4% |
| Profit (loss) carried forward | 14 | €7,803 | €7,877 | +€74 | +1.0% |
| Amounts payable | 17/49 | €16,419 | €20,260 | +€3,841 | +23.4% |
| Amounts payable within one year | 42/48 | €16,419 | €20,260 | +€3,841 | +23.4% |
| Trade debts | 44 | €5,635 | €8,782 | +€3,147 | +55.9% |
| Suppliers | 440/4 | €5,635 | €8,782 | +€3,147 | +55.9% |
| Taxes, remuneration and social security | 45 | €10,784 | €9,782 | -€1,002 | -9.3% |
| Taxes | 450/3 | €10,784 | €9,782 | -€1,002 | -9.3% |
| Other amounts payable | 47/48 | - | €1,697 | +€1,697 | |
| Non-recurring operating income | 76A | €9,504 | - | -€9,504 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,428 | €8,008 | +€1,581 | +24.6% |
| Other operating charges | 640/8 | €674 | €1,769 | +€1,095 | +162.3% |
| Gross operating margin | 9900 | €37,165 | €25,117 | -€12,049 | -32.4% |
| Operating profit (loss) | 9901 | €30,064 | €15,340 | -€14,724 | -49.0% |
| Financial income | 75/76B | €70 | €0 | -€70 | -100.0% |
| Recurring financial income | 75 | €70 | €0 | -€70 | -100.0% |
| Financial charges | 65/66B | €1,437 | €3,082 | +€1,645 | +114.4% |
| Recurring financial charges | 65 | €1,437 | €3,082 | +€1,645 | +114.4% |
| Profit (loss) for the period before taxes | 9903 | €28,696 | €12,257 | -€16,439 | -57.3% |
| Income taxes | 67/77 | €9,089 | €4,783 | -€4,306 | -47.4% |
| Profit (loss) for the period | 9904 | €19,607 | €7,474 | -€12,132 | -61.9% |
| Profit (loss) for the period to be appropriated | 9905 | €19,607 | €7,474 | -€12,132 | -61.9% |
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 4 October 2026 via checked.be.