ELLEFANT: 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.
ELLEFANT
Largest movements
- Cash +€20,940
up €20,940 (+45.9%), from €45,600 to €66,540
mainly Net result for the year (+€12,995) and Tax, wage and social debts (+€5,091)
- Tangible fixed assets -€1,781
down €1,781 (-43.0%), from €4,145 to €2,364
- Receivables within one year -€1,093
down €1,093 (-20.3%), from €5,395 to €4,302
of which Trade receivables: -€1,016
- Reserves +€12,000
up €12,000 (+10.6%), from €112,950 to €124,950
of which Distributable reserves: +€12,000
- Tax, wage and social debts +€5,091
up €5,091 (+140.6%), from €3,622 to €8,714
of which Remuneration and social security: +€4,589
- Trade debts +€1,091
up €1,091 (+75.0%), from €1,454 to €2,544
- Gross operating margin +€23,211
up €23,211, from -€6,136 to €17,075
- Taxes +€1,200
up €1,200 (+2257.3%), from €53 to €1,253
- Depreciation +€413
up €413 (+30.2%), from €1,368 to €1,781
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 | €85,637 | €104,513 | +€18,877 | +22.0% |
| Fixed assets | 21/28 | €4,145 | €2,364 | -€1,781 | -43.0% |
| Tangible fixed assets | 22/27 | €4,145 | €2,364 | -€1,781 | -43.0% |
| Furniture and vehicles | 24 | €4,145 | €2,364 | -€1,781 | -43.0% |
| Current assets | 29/58 | €81,492 | €102,149 | +€20,657 | +25.3% |
| Amounts receivable within one year | 40/41 | €5,395 | €4,302 | -€1,093 | -20.3% |
| Trade receivables | 40 | €5,209 | €4,193 | -€1,016 | -19.5% |
| Other amounts receivable | 41 | €186 | €110 | -€77 | -41.2% |
| Current investments | 50/53 | €30,000 | €30,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €45,600 | €66,540 | +€20,940 | +45.9% |
| Deferred charges and accrued income | 490/1 | €497 | €1,307 | +€811 | +163.3% |
| Total equity and liabilities | 10/49 | €85,637 | €104,513 | +€18,877 | +22.0% |
| Equity | 10/15 | €70,560 | €83,555 | +€12,995 | +18.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €112,950 | €124,950 | +€12,000 | +10.6% |
| Non-distributable reserves | 130/1 | €100 | €100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €100 | €100 | = | 0.0% |
| Distributable reserves | 133 | €112,850 | €124,850 | +€12,000 | +10.6% |
| Profit (loss) carried forward | 14 | -€43,390 | -€42,395 | +€995 | +2.3% |
| Amounts payable | 17/49 | €15,076 | €20,958 | +€5,882 | +39.0% |
| Amounts payable within one year | 42/48 | €15,076 | €20,958 | +€5,882 | +39.0% |
| Trade debts | 44 | €1,454 | €2,544 | +€1,091 | +75.0% |
| Suppliers | 440/4 | €1,454 | €2,544 | +€1,091 | +75.0% |
| Taxes, remuneration and social security | 45 | €3,622 | €8,714 | +€5,091 | +140.6% |
| Taxes | 450/3 | €3,622 | €4,124 | +€502 | +13.9% |
| Remuneration and social security | 454/9 | - | €4,589 | +€4,589 | |
| Other amounts payable | 47/48 | €10,001 | €9,701 | -€300 | -3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,368 | €1,781 | +€413 | +30.2% |
| Other operating charges | 640/8 | €1,010 | €1,075 | +€65 | +6.4% |
| Gross operating margin | 9900 | -€6,136 | €17,075 | +€23,211 | |
| Operating profit (loss) | 9901 | -€8,513 | €14,220 | +€22,733 | |
| Financial income | 75/76B | €209 | €100 | -€109 | -52.1% |
| Recurring financial income | 75 | €209 | €100 | -€109 | -52.1% |
| Financial charges | 65/66B | €69 | €72 | +€4 | +5.1% |
| Recurring financial charges | 65 | €69 | €72 | +€4 | +5.1% |
| Profit (loss) for the period before taxes | 9903 | -€8,373 | €14,248 | +€22,621 | |
| Income taxes | 67/77 | €53 | €1,253 | +€1,200 | +2257.3% |
| Profit (loss) for the period | 9904 | -€8,426 | €12,995 | +€21,421 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,426 | €12,995 | +€21,421 |
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.