ELLEBOUDT: 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.
ELLEBOUDT
Largest movements
- Tangible fixed assets -€24,628
down €24,628 (-16.0%), from €153,676 to €129,049
- Cash -€10,478
down €10,478 (-61.1%), from €17,149 to €6,672
mainly Other debts (-€25,854) and Debts after one year (-€7,148)
- Receivables within one year +€3,715
up €3,715 (+8.4%), from €44,383 to €48,098
of which Trade receivables: +€16,950
- Other debts -€25,854
down €25,854 (-64.5%), from €40,076 to €14,222
- Debts after one year -€7,148
down €7,148 (-13.5%), from €52,939 to €45,792
- Trade debts +€4,133
up €4,133 (+59.3%), from €6,970 to €11,103
- Tax, wage and social debts -€2,322
down €2,322 (-93.5%), from €2,484 to €162
- Gross operating margin +€20,732
up €20,732 (+302.2%), from €6,861 to €27,592
- Depreciation +€6,898
up €6,898 (+38.9%), from €17,730 to €24,628
- Other operating charges -€1,853
down €1,853 (-69.9%), from €2,653 to €799
- Financial income -€1,211
down €1,211 (-95.1%), from €1,274 to €63
- Taxes +€284
up €284, from -€145 to €139
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 | €217,001 | €186,017 | -€30,984 | -14.3% |
| Fixed assets | 21/28 | €153,683 | €129,285 | -€24,398 | -15.9% |
| Tangible fixed assets | 22/27 | €153,676 | €129,049 | -€24,628 | -16.0% |
| Land and buildings | 22 | €73,022 | €66,601 | -€6,421 | -8.8% |
| Plant, machinery and equipment | 23 | €34,374 | €25,654 | -€8,720 | -25.4% |
| Furniture and vehicles | 24 | €46,280 | €36,793 | -€9,487 | -20.5% |
| Financial fixed assets | 28 | €6 | €236 | +€230 | +3565.9% |
| Current assets | 29/58 | €63,318 | €56,732 | -€6,587 | -10.4% |
| Amounts receivable within one year | 40/41 | €44,383 | €48,098 | +€3,715 | +8.4% |
| Trade receivables | 40 | €27,868 | €44,819 | +€16,950 | +60.8% |
| Other amounts receivable | 41 | €16,515 | €3,279 | -€13,236 | -80.1% |
| Cash at bank and in hand | 54/58 | €17,149 | €6,672 | -€10,478 | -61.1% |
| Deferred charges and accrued income | 490/1 | €1,786 | €1,962 | +€176 | +9.9% |
| Total equity and liabilities | 10/49 | €217,001 | €186,017 | -€30,984 | -14.3% |
| Equity | 10/15 | €107,576 | €107,591 | +€15 | 0.0% |
| Contributions | 10/11 | €18,344 | €18,344 | = | 0.0% |
| Reserves | 13 | €24,242 | €24,242 | = | 0.0% |
| Tax-exempt reserves | 132 | €7,139 | €7,139 | = | 0.0% |
| Distributable reserves | 133 | €17,103 | €17,103 | = | 0.0% |
| Profit (loss) carried forward | 14 | €64,989 | €65,004 | +€15 | 0.0% |
| Amounts payable | 17/49 | €109,425 | €78,426 | -€30,999 | -28.3% |
| Amounts payable after more than one year | 17 | €52,939 | €45,792 | -€7,148 | -13.5% |
| Financial debts | 170/4 | €52,939 | €45,792 | -€7,148 | -13.5% |
| Amounts payable within one year | 42/48 | €56,486 | €32,634 | -€23,852 | -42.2% |
| Current portion of amounts payable after more than one year | 42 | €6,956 | €7,148 | +€191 | +2.8% |
| Trade debts | 44 | €6,970 | €11,103 | +€4,133 | +59.3% |
| Suppliers | 440/4 | €6,970 | €11,103 | +€4,133 | +59.3% |
| Taxes, remuneration and social security | 45 | €2,484 | €162 | -€2,322 | -93.5% |
| Taxes | 450/3 | €2,484 | €162 | -€2,322 | -93.5% |
| Other amounts payable | 47/48 | €40,076 | €14,222 | -€25,854 | -64.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,730 | €24,628 | +€6,898 | +38.9% |
| Other operating charges | 640/8 | €2,653 | €799 | -€1,853 | -69.9% |
| Gross operating margin | 9900 | €6,861 | €27,592 | +€20,732 | +302.2% |
| Operating profit (loss) | 9901 | -€13,522 | €2,165 | +€15,687 | |
| Financial income | 75/76B | €1,274 | €63 | -€1,211 | -95.1% |
| Recurring financial income | 75 | €1,274 | €63 | -€1,211 | -95.1% |
| Financial charges | 65/66B | €2,248 | €2,074 | -€174 | -7.7% |
| Recurring financial charges | 65 | €2,248 | €2,074 | -€174 | -7.7% |
| Profit (loss) for the period before taxes | 9903 | -€14,496 | €154 | +€14,650 | |
| Income taxes | 67/77 | -€145 | €139 | +€284 | |
| Profit (loss) for the period | 9904 | -€14,351 | €15 | +€14,366 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,351 | €15 | +€14,366 |
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.