ELLE: 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.
ELLE
Largest movements
- Tangible fixed assets +€5,523
up €5,523 (+2939.1%), from €188 to €5,711
of which Plant, machinery and equipment: +€3,391
- Cash +€809
up €809 (+90.3%), from €896 to €1,705
mainly Trade debts (+€22,895) and Net result for the year (+€5,828)
- Stocks and contracts -€739
down €739 (-24.6%), from €2,997 to €2,258
- Trade debts +€22,895
up €22,895 (+141.3%), from €16,204 to €39,099
- Other debts -€18,127
down €18,127 (-62.9%), from €28,807 to €10,680
- Debts after one year -€6,983
down €6,983 (-65.0%), from €10,744 to €3,761
- Profit (loss) carried forward +€6,052
up €6,052 (+5.7%), from -€105,862 to -€99,809
- Short-term financial debts +€5,785
up €5,785 (+96.8%), from €5,974 to €11,759
- Staff costs -€23,702
down €23,702 (-76.7%), from €30,903 to €7,201
- Gross operating margin +€22,532
up €22,532, from -€4,179 to €18,353
- Other operating charges -€602
down €602 (-34.2%), from €1,763 to €1,161
- Depreciation +€507
up €507 (+269.5%), from €188 to €695
- Financial charges +€454
up €454 (+15.4%), from €2,948 to €3,402
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 | €14,965 | €20,636 | +€5,672 | +37.9% |
| Fixed assets | 21/28 | €738 | €6,261 | +€5,523 | +748.5% |
| Tangible fixed assets | 22/27 | €188 | €5,711 | +€5,523 | +2939.1% |
| Land and buildings | 22 | - | €2,321 | +€2,321 | |
| Plant, machinery and equipment | 23 | - | €3,391 | +€3,391 | |
| Other tangible fixed assets | 26 | €188 | - | -€188 | |
| Financial fixed assets | 28 | €550 | €550 | = | 0.0% |
| Current assets | 29/58 | €14,227 | €14,375 | +€148 | +1.0% |
| Stocks and contracts in progress | 3 | €2,997 | €2,258 | -€739 | -24.6% |
| Stocks | 30/36 | €2,997 | €2,258 | -€739 | -24.6% |
| Amounts receivable within one year | 40/41 | €10,334 | €10,412 | +€78 | +0.8% |
| Trade receivables | 40 | €10,080 | €10,080 | = | 0.0% |
| Other amounts receivable | 41 | €254 | €332 | +€78 | +30.7% |
| Cash at bank and in hand | 54/58 | €896 | €1,705 | +€809 | +90.3% |
| Total equity and liabilities | 10/49 | €14,965 | €20,636 | +€5,672 | +37.9% |
| Equity | 10/15 | -€84,806 | -€78,754 | +€6,052 | +7.1% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | €2,306 | €2,306 | = | 0.0% |
| Distributable reserves | 133 | €2,306 | €2,306 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€105,862 | -€99,809 | +€6,052 | +5.7% |
| Amounts payable | 17/49 | €99,771 | €99,390 | -€381 | -0.4% |
| Amounts payable after more than one year | 17 | €10,744 | €3,761 | -€6,983 | -65.0% |
| Financial debts | 170/4 | €10,744 | €3,761 | -€6,983 | -65.0% |
| Amounts payable within one year | 42/48 | €83,275 | €95,629 | +€12,354 | +14.8% |
| Current portion of amounts payable after more than one year | 42 | €6,323 | €6,983 | +€661 | +10.4% |
| Financial debts | 43 | €5,974 | €11,759 | +€5,785 | +96.8% |
| Credit institutions | 430/8 | €5,974 | €11,759 | +€5,785 | +96.8% |
| Trade debts | 44 | €16,204 | €39,099 | +€22,895 | +141.3% |
| Suppliers | 440/4 | €16,204 | €39,099 | +€22,895 | +141.3% |
| Taxes, remuneration and social security | 45 | €25,968 | €27,109 | +€1,141 | +4.4% |
| Taxes | 450/3 | €20,801 | €27,109 | +€6,308 | +30.3% |
| Remuneration and social security | 454/9 | €5,167 | - | -€5,167 | |
| Other amounts payable | 47/48 | €28,807 | €10,680 | -€18,127 | -62.9% |
| Accrued charges and deferred income | 492/3 | €5,751 | - | -€5,751 | |
| Remuneration, social security and pensions | 62 | €30,903 | €7,201 | -€23,702 | -76.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €188 | €695 | +€507 | +269.5% |
| Other operating charges | 640/8 | €1,763 | €1,161 | -€602 | -34.2% |
| Gross operating margin | 9900 | -€4,179 | €18,353 | +€22,532 | |
| Operating profit (loss) | 9901 | -€37,032 | €9,297 | +€46,329 | |
| Financial income | 75/76B | €80 | €0 | -€80 | -99.9% |
| Recurring financial income | 75 | €80 | €0 | -€80 | -99.9% |
| Financial charges | 65/66B | €2,948 | €3,402 | +€454 | +15.4% |
| Recurring financial charges | 65 | €2,948 | €3,402 | +€454 | +15.4% |
| Profit (loss) for the period before taxes | 9903 | -€39,901 | €5,894 | +€45,795 | |
| Income taxes | 67/77 | €224 | €66 | -€158 | -70.5% |
| Profit (loss) for the period | 9904 | -€40,124 | €5,828 | +€45,953 | |
| Profit (loss) for the period to be appropriated | 9905 | -€40,124 | €5,828 | +€45,953 |
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 10 October 2026 via checked.be.