ELLEN DE BEUL: 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.
ELLEN DE BEUL
Largest movements
- Cash -€39,349
down €39,349 (-100.0%), from €39,356 to €7
mainly Net result for the year (-€36,943) and Tax, wage and social debts (-€4,465)
- Tangible fixed assets -€831
down €831 (-19.0%), from €4,376 to €3,545
- Reserves -€27,523
down €27,523 (-100%), from €27,523 to €0
- Profit (loss) carried forward -€9,420
new in 2025: -€9,420
- Tax, wage and social debts -€4,465
down €4,465 (-46.4%), from €9,624 to €5,160
of which Remuneration and social security: -€2,355
- Other debts +€3,119
up €3,119 (+4,735%), from €66 to €3,185
- Trade debts -€2,315
down €2,315 (-74.8%), from €3,095 to €780
- Gross operating margin -€71,290
down €71,290, from €38,138 to -€33,152
- Taxes -€6,918
down €6,918 (-98.3%), from €7,039 to €121
- Other operating charges -€1,034
down €1,034 (-100%), from €1,034 to €0
- Depreciation +€417
up €417 (+17.4%), from €2,396 to €2,813
- Financial income -€403
down €403 (-100%), from €403 to €0
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 | €45,309 | €4,705 | -€40,604 | -89.6% |
| Fixed assets | 21/28 | €4,376 | €3,545 | -€831 | -19.0% |
| Tangible fixed assets | 22/27 | €4,376 | €3,545 | -€831 | -19.0% |
| Plant, machinery and equipment | 23 | €4,376 | €3,545 | -€831 | -19.0% |
| Current assets | 29/58 | €40,933 | €1,159 | -€39,773 | -97.2% |
| Amounts receivable within one year | 40/41 | €441 | €318 | -€123 | -27.9% |
| Trade receivables | 40 | - | €239 | +€239 | |
| Other amounts receivable | 41 | €441 | €80 | -€361 | -81.9% |
| Cash at bank and in hand | 54/58 | €39,356 | €7 | -€39,349 | -100.0% |
| Deferred charges and accrued income | 490/1 | €1,135 | €834 | -€301 | -26.6% |
| Total equity and liabilities | 10/49 | €45,309 | €4,705 | -€40,604 | -89.6% |
| Equity | 10/15 | €32,523 | -€4,420 | -€36,943 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €27,523 | €0 | -€27,523 | -100% |
| Distributable reserves | 133 | €27,523 | €0 | -€27,523 | -100% |
| Profit (loss) carried forward | 14 | - | -€9,420 | -€9,420 | |
| Amounts payable | 17/49 | €12,785 | €9,124 | -€3,661 | -28.6% |
| Amounts payable within one year | 42/48 | €12,785 | €9,124 | -€3,661 | -28.6% |
| Trade debts | 44 | €3,095 | €780 | -€2,315 | -74.8% |
| Suppliers | 440/4 | €3,095 | €780 | -€2,315 | -74.8% |
| Taxes, remuneration and social security | 45 | €9,624 | €5,160 | -€4,465 | -46.4% |
| Taxes | 450/3 | €7,269 | €5,160 | -€2,110 | -29.0% |
| Remuneration and social security | 454/9 | €2,355 | €0 | -€2,355 | -100% |
| Other amounts payable | 47/48 | €66 | €3,185 | +€3,119 | +4,735% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,396 | €2,813 | +€417 | +17.4% |
| Other operating charges | 640/8 | €1,034 | €0 | -€1,034 | -100% |
| Gross operating margin | 9900 | €38,138 | -€33,152 | -€71,290 | |
| Operating profit (loss) | 9901 | €34,708 | -€35,965 | -€70,673 | |
| Financial income | 75/76B | €403 | €0 | -€403 | -100% |
| Recurring financial income | 75 | €403 | €0 | -€403 | -100% |
| Financial charges | 65/66B | €549 | €857 | +€308 | +56.1% |
| Recurring financial charges | 65 | €549 | €857 | +€308 | +56.1% |
| Profit (loss) for the period before taxes | 9903 | €34,562 | -€36,822 | -€71,385 | |
| Income taxes | 67/77 | €7,039 | €121 | -€6,918 | -98.3% |
| Profit (loss) for the period | 9904 | €27,523 | -€36,943 | -€64,467 | |
| Profit (loss) for the period to be appropriated | 9905 | €27,523 | -€36,943 | -€64,467 |
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 13 October 2026 via checked.be.