elle and rapha: 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 and rapha
Largest movements
- Cash -€68,368
down €68,368 (-52.9%), from €129,262 to €60,895
mainly Debts after one year (-€87,253) and Investment in fixed assets (net) (-€57,961)
- Receivables within one year -€42,705
down €42,705 (-52.1%), from €81,961 to €39,256
of which Other amounts receivable: -€26,571
- Deferred charges and accrued income -€35,793
down €35,793 (-56.6%), from €63,250 to €27,456
- Intangible fixed assets -€19,853
down €19,853 (-34.6%), from €57,410 to €37,557
- Profit (loss) carried forward -€317,437
down €317,437 (-100%), from €317,437 to €0
- Reserves +€297,566
up €297,566 (+305%), from €97,705 to €395,270
- Debts after one year -€87,253
down €87,253 (-26.1%), from €334,746 to €247,493
- Trade debts -€17,195
down €17,195 (-24.0%), from €71,533 to €54,338
- Other debts -€15,483
down €15,483 (-18.1%), from €85,663 to €70,180
- Gross operating margin -€94,690
down €94,690 (-22.4%), from €423,273 to €328,584
- Other operating charges -€41,142
down €41,142 (-70.9%), from €58,043 to €16,900
- Financial charges -€29,017
down €29,017 (-48.5%), from €59,815 to €30,798
- Depreciation -€6,261
down €6,261 (-7.8%), from €79,896 to €73,635
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,272,405 | €1,121,664 | -€150,741 | -11.8% |
| Fixed assets | 21/28 | €584,450 | €568,776 | -€15,674 | -2.7% |
| Intangible fixed assets | 21 | €57,410 | €37,557 | -€19,853 | -34.6% |
| Tangible fixed assets | 22/27 | €523,115 | €523,294 | +€179 | 0.0% |
| Land and buildings | 22 | €459,031 | €417,330 | -€41,701 | -9.1% |
| Plant, machinery and equipment | 23 | €3,483 | €3,824 | +€341 | +9.8% |
| Furniture and vehicles | 24 | €25,760 | €62,595 | +€36,835 | +143% |
| Other tangible fixed assets | 26 | €34,841 | €39,545 | +€4,704 | +13.5% |
| Financial fixed assets | 28 | €3,925 | €7,925 | +€4,000 | +102% |
| Current assets | 29/58 | €687,955 | €552,888 | -€135,067 | -19.6% |
| Stocks and contracts in progress | 3 | €413,482 | €425,281 | +€11,799 | +2.9% |
| Stocks | 30/36 | €413,482 | €425,281 | +€11,799 | +2.9% |
| Amounts receivable within one year | 40/41 | €81,961 | €39,256 | -€42,705 | -52.1% |
| Trade receivables | 40 | €36,412 | €20,277 | -€16,134 | -44.3% |
| Other amounts receivable | 41 | €45,550 | €18,979 | -€26,571 | -58.3% |
| Cash at bank and in hand | 54/58 | €129,262 | €60,895 | -€68,368 | -52.9% |
| Deferred charges and accrued income | 490/1 | €63,250 | €27,456 | -€35,793 | -56.6% |
| Total equity and liabilities | 10/49 | €1,272,405 | €1,121,664 | -€150,741 | -11.8% |
| Equity | 10/15 | €515,142 | €495,270 | -€19,872 | -3.9% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €97,705 | €395,270 | +€297,566 | +305% |
| Distributable reserves | 133 | €97,705 | €395,270 | +€297,566 | +305% |
| Profit (loss) carried forward | 14 | €317,437 | €0 | -€317,437 | -100% |
| Amounts payable | 17/49 | €757,263 | €626,394 | -€130,870 | -17.3% |
| Amounts payable after more than one year | 17 | €334,746 | €247,493 | -€87,253 | -26.1% |
| Financial debts | 170/4 | €334,746 | €247,493 | -€87,253 | -26.1% |
| Amounts payable within one year | 42/48 | €422,518 | €378,901 | -€43,617 | -10.3% |
| Current portion of amounts payable after more than one year | 42 | €84,157 | €87,253 | +€3,096 | +3.7% |
| Financial debts | 43 | €105,404 | €96,620 | -€8,783 | -8.3% |
| Credit institutions | 430/8 | €96,883 | €72,288 | -€24,596 | -25.4% |
| Other loans | 439 | €8,520 | €24,333 | +€15,812 | +186% |
| Trade debts | 44 | €71,533 | €54,338 | -€17,195 | -24.0% |
| Suppliers | 440/4 | €71,533 | €54,338 | -€17,195 | -24.0% |
| Taxes, remuneration and social security | 45 | €75,762 | €70,510 | -€5,252 | -6.9% |
| Taxes | 450/3 | €48,964 | €55,906 | +€6,942 | +14.2% |
| Remuneration and social security | 454/9 | €26,797 | €14,604 | -€12,193 | -45.5% |
| Other amounts payable | 47/48 | €85,663 | €70,180 | -€15,483 | -18.1% |
| Non-recurring operating income | 76A | - | €5,524 | +€5,524 | |
| Remuneration, social security and pensions | 62 | €216,729 | €220,558 | +€3,829 | +1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,896 | €73,635 | -€6,261 | -7.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €58,043 | €16,900 | -€41,142 | -70.9% |
| Non-recurring operating charges | 66A | - | €2,468 | +€2,468 | |
| Gross operating margin | 9900 | €423,273 | €328,584 | -€94,690 | -22.4% |
| Operating profit (loss) | 9901 | €68,606 | €15,022 | -€53,584 | -78.1% |
| Financial income | 75/76B | €360 | €0 | -€360 | -100% |
| Recurring financial income | 75 | €360 | €0 | -€360 | -100% |
| Financial charges | 65/66B | €59,815 | €30,798 | -€29,017 | -48.5% |
| Recurring financial charges | 65 | €59,815 | €30,798 | -€29,017 | -48.5% |
| Profit (loss) for the period before taxes | 9903 | €9,151 | -€15,775 | -€24,927 | |
| Income taxes | 67/77 | €4,667 | €4,096 | -€571 | -12.2% |
| Profit (loss) for the period | 9904 | €4,485 | -€19,872 | -€24,356 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,485 | -€19,872 | -€24,356 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.