ELLEAM: 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.
ELLEAM
Largest movements
- Tangible fixed assets +€33,310
up €33,310 (+50.8%), from €65,569 to €98,879
of which Furniture and vehicles: +€41,626
- Cash -€29,794
down €29,794 (-93.7%), from €31,814 to €2,020
mainly Investment in fixed assets (net) (-€50,840) and Tax, wage and social debts (-€9,179)
- Intangible fixed assets -€2,391
down €2,391 (-24.9%), from €9,587 to €7,195
- Tax, wage and social debts -€9,179
down €9,179 (-86.8%), from €10,571 to €1,392
of which Taxes: -€7,390
- Other debts +€6,599
up €6,599 (+11.8%), from €55,734 to €62,333
- Profit (loss) carried forward +€4,920
up €4,920 (+14.4%), from -€34,236 to -€29,316
- Staff costs -€19,629
down €19,629 (-96.7%), from €20,295 to €666
- Depreciation +€8,634
up €8,634 (+76.5%), from €11,287 to €19,921
- Financial charges -€364
down €364 (-67.0%), from €543 to €179
- Other operating charges +€317
up €317 (+67.0%), from €472 to €789
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 | €116,294 | €117,882 | +€1,588 | +1.4% |
| Fixed assets | 21/28 | €77,681 | €108,599 | +€30,918 | +39.8% |
| Intangible fixed assets | 21 | €9,587 | €7,195 | -€2,391 | -24.9% |
| Tangible fixed assets | 22/27 | €65,569 | €98,879 | +€33,310 | +50.8% |
| Plant, machinery and equipment | 23 | €55,984 | €48,895 | -€7,088 | -12.7% |
| Furniture and vehicles | 24 | €4,601 | €46,227 | +€41,626 | +905% |
| Other tangible fixed assets | 26 | €4,984 | €3,756 | -€1,228 | -24.6% |
| Financial fixed assets | 28 | €2,525 | €2,525 | = | 0.0% |
| Current assets | 29/58 | €38,613 | €9,283 | -€29,330 | -76.0% |
| Amounts receivable within one year | 40/41 | €6,516 | €6,858 | +€342 | +5.2% |
| Trade receivables | 40 | €6,486 | €6,858 | +€372 | +5.7% |
| Other amounts receivable | 41 | €30 | €0 | -€30 | -100% |
| Cash at bank and in hand | 54/58 | €31,814 | €2,020 | -€29,794 | -93.7% |
| Deferred charges and accrued income | 490/1 | €283 | €405 | +€122 | +43.1% |
| Total equity and liabilities | 10/49 | €116,294 | €117,882 | +€1,588 | +1.4% |
| Equity | 10/15 | -€15,636 | -€10,716 | +€4,920 | +31.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€34,236 | -€29,316 | +€4,920 | +14.4% |
| Amounts payable | 17/49 | €131,930 | €128,598 | -€3,332 | -2.5% |
| Amounts payable after more than one year | 17 | €60,000 | €60,000 | = | 0.0% |
| Other amounts payable | 178/9 | €60,000 | €60,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €71,930 | €68,598 | -€3,332 | -4.6% |
| Trade debts | 44 | €5,625 | €4,873 | -€752 | -13.4% |
| Suppliers | 440/4 | €5,625 | €4,873 | -€752 | -13.4% |
| Taxes, remuneration and social security | 45 | €10,571 | €1,392 | -€9,179 | -86.8% |
| Taxes | 450/3 | €8,782 | €1,392 | -€7,390 | -84.1% |
| Remuneration and social security | 454/9 | €1,789 | €0 | -€1,789 | -100% |
| Other amounts payable | 47/48 | €55,734 | €62,333 | +€6,599 | +11.8% |
| Remuneration, social security and pensions | 62 | €20,295 | €666 | -€19,629 | -96.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,287 | €19,921 | +€8,634 | +76.5% |
| Other operating charges | 640/8 | €472 | €789 | +€317 | +67.0% |
| Gross operating margin | 9900 | €26,475 | €26,625 | +€151 | +0.6% |
| Operating profit (loss) | 9901 | -€5,579 | €5,250 | +€10,829 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €543 | €179 | -€364 | -67.0% |
| Recurring financial charges | 65 | €543 | €179 | -€364 | -67.0% |
| Profit (loss) for the period before taxes | 9903 | -€6,122 | €5,070 | +€11,193 | |
| Income taxes | 67/77 | €130 | €150 | +€20 | +15.3% |
| Profit (loss) for the period | 9904 | -€6,253 | €4,920 | +€11,173 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,253 | €4,920 | +€11,173 |
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 24 October 2026 via checked.be.