ELLE2: 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.
ELLE2
Largest movements
- Cash +€112,098
up €112,098 (+90.9%), from €123,270 to €235,368
mainly Net result for the year (+€103,491) and Depreciation (+€21,818)
- Tangible fixed assets -€21,818
down €21,818 (-26.9%), from €81,198 to €59,380
of which Furniture and vehicles: -€21,246
- Receivables within one year +€21,162
up €21,162 (+812.2%), from €2,606 to €23,767
of which Trade receivables: +€22,990
- Profit (loss) carried forward +€103,491
up €103,491 (+56.0%), from €184,817 to €288,307
- Tax, wage and social debts +€16,205
up €16,205 (+953.3%), from €1,700 to €17,905
- Trade debts -€10,179
down €10,179 (-80.2%), from €12,693 to €2,514
- Gross operating margin +€9,521
up €9,521 (+6.6%), from €145,225 to €154,746
- Taxes +€2,323
up €2,323 (+8.9%), from €26,055 to €28,377
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 | €209,210 | €320,677 | +€111,467 | +53.3% |
| Fixed assets | 21/28 | €81,198 | €59,380 | -€21,818 | -26.9% |
| Tangible fixed assets | 22/27 | €81,198 | €59,380 | -€21,818 | -26.9% |
| Plant, machinery and equipment | 23 | €2,597 | €2,025 | -€572 | -22.0% |
| Furniture and vehicles | 24 | €78,601 | €57,355 | -€21,246 | -27.0% |
| Current assets | 29/58 | €128,012 | €261,297 | +€133,285 | +104.1% |
| Amounts receivable within one year | 40/41 | €2,606 | €23,767 | +€21,162 | +812.2% |
| Trade receivables | 40 | - | €22,990 | +€22,990 | |
| Other amounts receivable | 41 | €2,606 | €777 | -€1,828 | -70.2% |
| Cash at bank and in hand | 54/58 | €123,270 | €235,368 | +€112,098 | +90.9% |
| Deferred charges and accrued income | 490/1 | €2,136 | €2,161 | +€25 | +1.2% |
| Total equity and liabilities | 10/49 | €209,210 | €320,677 | +€111,467 | +53.3% |
| Equity | 10/15 | €194,817 | €298,307 | +€103,491 | +53.1% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €184,817 | €288,307 | +€103,491 | +56.0% |
| Amounts payable | 17/49 | €14,393 | €22,370 | +€7,977 | +55.4% |
| Amounts payable within one year | 42/48 | €14,393 | €20,420 | +€6,027 | +41.9% |
| Trade debts | 44 | €12,693 | €2,514 | -€10,179 | -80.2% |
| Suppliers | 440/4 | €12,693 | €2,514 | -€10,179 | -80.2% |
| Taxes, remuneration and social security | 45 | €1,700 | €17,905 | +€16,205 | +953.3% |
| Taxes | 450/3 | €1,700 | €17,905 | +€16,205 | +953.3% |
| Accrued charges and deferred income | 492/3 | - | €1,950 | +€1,950 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,507 | €21,818 | +€311 | +1.4% |
| Other operating charges | 640/8 | €311 | €605 | +€294 | +94.8% |
| Gross operating margin | 9900 | €145,225 | €154,746 | +€9,521 | +6.6% |
| Operating profit (loss) | 9901 | €123,407 | €132,323 | +€8,916 | +7.2% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €878 | €455 | -€423 | -48.2% |
| Recurring financial charges | 65 | €878 | €455 | -€423 | -48.2% |
| Profit (loss) for the period before taxes | 9903 | €122,529 | €131,868 | +€9,339 | +7.6% |
| Income taxes | 67/77 | €26,055 | €28,377 | +€2,323 | +8.9% |
| Profit (loss) for the period | 9904 | €96,474 | €103,491 | +€7,016 | +7.3% |
| Profit (loss) for the period to be appropriated | 9905 | €96,474 | €103,491 | +€7,016 | +7.3% |
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 6 October 2026 via checked.be.