ELLEM: 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.
ELLEM
Largest movements
- Deferred charges and accrued income +€22,686
up €22,686 (+12592.7%), from €180 to €22,866
- Receivables within one year -€11,495
down €11,495 (-12.3%), from €93,635 to €82,140
of which Other amounts receivable: -€45,375
- Tangible fixed assets -€9,314
down €9,314 (-17.5%), from €53,217 to €43,903
of which Furniture and vehicles: -€12,968
- Cash +€3,098
up €3,098 (+67.2%), from €4,607 to €7,705
mainly Net result for the year (+€23,277) and Depreciation (+€13,859)
- Reserves +€23,277
up €23,277 (+40.0%), from €58,211 to €81,487
- Debts after one year -€12,896
down €12,896 (-30.3%), from €42,622 to €29,726
- Tax, wage and social debts -€6,181
down €6,181 (-18.4%), from €33,640 to €27,459
of which Taxes: -€3,702
- Gross operating margin -€41,321
down €41,321 (-46.9%), from €88,041 to €46,720
- Taxes -€8,252
down €8,252 (-53.5%), from €15,434 to €7,182
- Depreciation +€2,238
up €2,238 (+19.3%), from €11,621 to €13,859
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 | €151,640 | €156,614 | +€4,975 | +3.3% |
| Fixed assets | 21/28 | €53,217 | €43,903 | -€9,314 | -17.5% |
| Tangible fixed assets | 22/27 | €53,217 | €43,903 | -€9,314 | -17.5% |
| Plant, machinery and equipment | 23 | - | €3,654 | +€3,654 | |
| Furniture and vehicles | 24 | €53,217 | €40,249 | -€12,968 | -24.4% |
| Current assets | 29/58 | €98,423 | €112,711 | +€14,289 | +14.5% |
| Amounts receivable within one year | 40/41 | €93,635 | €82,140 | -€11,495 | -12.3% |
| Trade receivables | 40 | - | €33,880 | +€33,880 | |
| Other amounts receivable | 41 | €93,635 | €48,260 | -€45,375 | -48.5% |
| Cash at bank and in hand | 54/58 | €4,607 | €7,705 | +€3,098 | +67.2% |
| Deferred charges and accrued income | 490/1 | €180 | €22,866 | +€22,686 | +12592.7% |
| Total equity and liabilities | 10/49 | €151,640 | €156,614 | +€4,975 | +3.3% |
| Equity | 10/15 | €58,311 | €81,587 | +€23,277 | +39.9% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €58,211 | €81,487 | +€23,277 | +40.0% |
| Distributable reserves | 133 | €58,211 | €81,487 | +€23,277 | +40.0% |
| Amounts payable | 17/49 | €93,329 | €75,027 | -€18,302 | -19.6% |
| Amounts payable after more than one year | 17 | €42,622 | €29,726 | -€12,896 | -30.3% |
| Financial debts | 170/4 | €42,622 | €29,726 | -€12,896 | -30.3% |
| Amounts payable within one year | 42/48 | €50,457 | €44,801 | -€5,656 | -11.2% |
| Current portion of amounts payable after more than one year | 42 | €12,404 | €12,896 | +€492 | +4.0% |
| Trade debts | 44 | €3,313 | €3,254 | -€60 | -1.8% |
| Suppliers | 440/4 | €3,313 | €3,254 | -€60 | -1.8% |
| Taxes, remuneration and social security | 45 | €33,640 | €27,459 | -€6,181 | -18.4% |
| Taxes | 450/3 | €31,161 | €27,459 | -€3,702 | -11.9% |
| Remuneration and social security | 454/9 | €2,478 | €0 | -€2,478 | -100.0% |
| Other amounts payable | 47/48 | €1,100 | €1,192 | +€92 | +8.4% |
| Accrued charges and deferred income | 492/3 | €250 | €500 | +€250 | +100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,621 | €13,859 | +€2,238 | +19.3% |
| Other operating charges | 640/8 | €439 | €236 | -€203 | -46.1% |
| Gross operating margin | 9900 | €88,041 | €46,720 | -€41,321 | -46.9% |
| Operating profit (loss) | 9901 | €75,981 | €32,625 | -€43,357 | -57.1% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €2,336 | €2,166 | -€170 | -7.3% |
| Recurring financial charges | 65 | €2,336 | €2,166 | -€170 | -7.3% |
| Profit (loss) for the period before taxes | 9903 | €73,645 | €30,459 | -€43,186 | -58.6% |
| Income taxes | 67/77 | €15,434 | €7,182 | -€8,252 | -53.5% |
| Profit (loss) for the period | 9904 | €58,211 | €23,277 | -€34,934 | -60.0% |
| Profit (loss) for the period to be appropriated | 9905 | €58,211 | €23,277 | -€34,934 | -60.0% |
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 11 October 2026 via checked.be.