ELLE-A: 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-A
Largest movements
- Cash +€76,188
up €76,188 (+41.3%), from €184,322 to €260,510
mainly Net result for the year (+€78,207) and Tax, wage and social debts (+€32,214)
- Receivables within one year +€35,200
up €35,200 (+38.3%), from €91,891 to €127,092
of which Trade receivables: +€30,379
- Reserves +€78,207
up €78,207 (+41.8%), from €186,958 to €265,164
- Tax, wage and social debts +€32,214
up €32,214 (+36.3%), from €88,746 to €120,960
of which Remuneration and social security: +€19,509
- Trade debts +€5,298
up €5,298 (+158%), from €3,358 to €8,656
- Gross operating margin +€106,236
up €106,236 (+21.3%), from €497,914 to €604,150
- Staff costs +€96,031
up €96,031 (+24.7%), from €389,520 to €485,550
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 | €285,530 | €401,306 | +€115,776 | +40.5% |
| Fixed assets | 21/28 | €5,632 | €8,322 | +€2,690 | +47.8% |
| Tangible fixed assets | 22/27 | €5,332 | €8,022 | +€2,690 | +50.4% |
| Plant, machinery and equipment | 23 | €2,445 | €6,104 | +€3,659 | +150% |
| Furniture and vehicles | 24 | €2,887 | €1,918 | -€969 | -33.6% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €279,898 | €392,984 | +€113,086 | +40.4% |
| Amounts receivable within one year | 40/41 | €91,891 | €127,092 | +€35,200 | +38.3% |
| Trade receivables | 40 | €69,704 | €100,084 | +€30,379 | +43.6% |
| Other amounts receivable | 41 | €22,187 | €27,008 | +€4,821 | +21.7% |
| Cash at bank and in hand | 54/58 | €184,322 | €260,510 | +€76,188 | +41.3% |
| Deferred charges and accrued income | 490/1 | €3,685 | €5,383 | +€1,698 | +46.1% |
| Total equity and liabilities | 10/49 | €285,530 | €401,306 | +€115,776 | +40.5% |
| Equity | 10/15 | €193,282 | €271,488 | +€78,207 | +40.5% |
| Contributions | 10/11 | €6,324 | €6,324 | = | 0.0% |
| Reserves | 13 | €186,958 | €265,164 | +€78,207 | +41.8% |
| Distributable reserves | 133 | €186,958 | €265,164 | +€78,207 | +41.8% |
| Amounts payable | 17/49 | €92,248 | €129,818 | +€37,569 | +40.7% |
| Amounts payable within one year | 42/48 | €92,248 | €129,818 | +€37,569 | +40.7% |
| Financial debts | 43 | €144 | €202 | +€58 | +40.0% |
| Credit institutions | 430/8 | €144 | €202 | +€58 | +40.0% |
| Trade debts | 44 | €3,358 | €8,656 | +€5,298 | +158% |
| Suppliers | 440/4 | €3,358 | €8,656 | +€5,298 | +158% |
| Taxes, remuneration and social security | 45 | €88,746 | €120,960 | +€32,214 | +36.3% |
| Taxes | 450/3 | €13,157 | €25,862 | +€12,705 | +96.6% |
| Remuneration and social security | 454/9 | €75,590 | €95,099 | +€19,509 | +25.8% |
| Remuneration, social security and pensions | 62 | €389,520 | €485,550 | +€96,031 | +24.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,861 | €1,910 | +€49 | +2.6% |
| Other operating charges | 640/8 | €1,816 | €1,473 | -€343 | -18.9% |
| Gross operating margin | 9900 | €497,914 | €604,150 | +€106,236 | +21.3% |
| Operating profit (loss) | 9901 | €104,718 | €115,217 | +€10,499 | +10.0% |
| Financial income | 75/76B | €2,559 | €2,621 | +€63 | +2.5% |
| Recurring financial income | 75 | €2,559 | €2,621 | +€63 | +2.5% |
| Financial charges | 65/66B | €676 | €1,003 | +€327 | +48.5% |
| Recurring financial charges | 65 | €676 | €1,003 | +€327 | +48.5% |
| Profit (loss) for the period before taxes | 9903 | €106,601 | €116,835 | +€10,235 | +9.6% |
| Income taxes | 67/77 | €43,479 | €38,629 | -€4,851 | -11.2% |
| Profit (loss) for the period | 9904 | €63,121 | €78,207 | +€15,085 | +23.9% |
| Profit (loss) for the period to be appropriated | 9905 | €63,121 | €78,207 | +€15,085 | +23.9% |
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 21 October 2026 via checked.be.