Ellen DV: what changed
Two fiscal 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 DV
Largest movements
- Cash +€149,180
up €149,180 (+86.0%), from €173,498 to €322,678
mainly Net result for the year (+€123,486) and Tax, wage and social debts (+€36,786)
- Receivables within one year +€6,086
up €6,086 (+71.0%), from €8,573 to €14,659
of which Trade receivables: +€4,356
- Tangible fixed assets -€5,553
down €5,553 (-11.4%), from €48,623 to €43,070
of which Furniture and vehicles: -€3,063
- Profit (loss) carried forward +€111,721
up €111,721 (+59.6%), from €187,523 to €299,244
- Tax, wage and social debts +€36,786
up €36,786 (+102.4%), from €35,938 to €72,724
- Gross operating margin +€48,903
up €48,903 (+40.2%), from €121,712 to €170,615
- Taxes +€10,276
up €10,276 (+41.0%), from €25,058 to €35,335
- Depreciation +€5,629
up €5,629 (+85.4%), from €6,591 to €12,220
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 | €230,941 | €381,089 | +€150,148 | +65.0% |
| Fixed assets | 21/28 | €48,623 | €43,070 | -€5,553 | -11.4% |
| Tangible fixed assets | 22/27 | €48,623 | €43,070 | -€5,553 | -11.4% |
| Plant, machinery and equipment | 23 | €10,329 | €7,839 | -€2,490 | -24.1% |
| Furniture and vehicles | 24 | €38,294 | €35,231 | -€3,063 | -8.0% |
| Current assets | 29/58 | €182,319 | €338,019 | +€155,700 | +85.4% |
| Amounts receivable within one year | 40/41 | €8,573 | €14,659 | +€6,086 | +71.0% |
| Trade receivables | 40 | - | €4,356 | +€4,356 | |
| Other amounts receivable | 41 | €8,573 | €10,303 | +€1,730 | +20.2% |
| Cash at bank and in hand | 54/58 | €173,498 | €322,678 | +€149,180 | +86.0% |
| Deferred charges and accrued income | 490/1 | €247 | €682 | +€435 | +175.7% |
| Total equity and liabilities | 10/49 | €230,941 | €381,089 | +€150,148 | +65.0% |
| Equity | 10/15 | €192,523 | €304,244 | +€111,721 | +58.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €187,523 | €299,244 | +€111,721 | +59.6% |
| Amounts payable | 17/49 | €38,419 | €76,845 | +€38,426 | +100.0% |
| Amounts payable within one year | 42/48 | €38,419 | €76,845 | +€38,426 | +100.0% |
| Trade debts | 44 | €2,481 | €4,121 | +€1,641 | +66.1% |
| Suppliers | 440/4 | €2,481 | €4,121 | +€1,641 | +66.1% |
| Taxes, remuneration and social security | 45 | €35,938 | €72,724 | +€36,786 | +102.4% |
| Taxes | 450/3 | €35,938 | €72,724 | +€36,786 | +102.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,591 | €12,220 | +€5,629 | +85.4% |
| Other operating charges | 640/8 | €1,013 | €63 | -€949 | -93.7% |
| Gross operating margin | 9900 | €121,712 | €170,615 | +€48,903 | +40.2% |
| Operating profit (loss) | 9901 | €114,108 | €158,331 | +€44,223 | +38.8% |
| Financial income | 75/76B | €247 | €687 | +€440 | +177.7% |
| Recurring financial income | 75 | €247 | €687 | +€440 | +177.7% |
| Financial charges | 65/66B | €235 | €198 | -€38 | -16.0% |
| Recurring financial charges | 65 | €235 | €198 | -€38 | -16.0% |
| Profit (loss) for the period before taxes | 9903 | €114,121 | €158,821 | +€44,700 | +39.2% |
| Income taxes | 67/77 | €25,058 | €35,335 | +€10,276 | +41.0% |
| Profit (loss) for the period | 9904 | €89,062 | €123,486 | +€34,424 | +38.7% |
| Profit (loss) for the period to be appropriated | 9905 | €89,062 | €123,486 | +€34,424 | +38.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.