Ellers: 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.
What changed
Ellers
NACE 82.100, Office administrative and support services
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€493,021
2024 · -€20,340+€513,361
Equity
€723,054
2024 · €230,032+€493,021
Cash
€34,286
2024 · €14,623+€19,663
Balance sheet total
€5.6m
2024 · €4.0m+€1.5m
Largest movements
Assets
- Financial fixed assets +€1.5m
up €1.5m (+38.0%), from €4.0m to €5.5m
Equity and liabilities
- Debts after one year +€958,333
up €958,333 (+35.4%), from €2.7m to €3.7m
- Other debts +€585,528
up €585,528 (+32610.9%), from €1,796 to €587,324
- Short-term financial debts -€500,000
no longer reported in 2025 (was €500,000)
- Reserves +€492,968
up €492,968 (+1823.6%), from €27,032 to €520,000
Income statement
- Financial income +€510,000
new in 2025: €510,000
- Gross operating margin +€191,776
up €191,776 (+2011.1%), from €9,536 to €201,312
- Financial charges +€189,432
up €189,432 (+1091.6%), from €17,354 to €206,786
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.
Result 2024
-€20,340
Gross operating margin
+€191,776
Depreciation
+€165
Other operating charges
+€681
Financial income
+€510,000
Financial charges
-€189,432
Taxes
+€171
Result 2025
€493,021
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.
From operations
+€1.1m
Investment
-€1.5m
Financing
+€452,839
Cash 2024
€14,623
From operations (derived)
+€1.1m
Net result for the year
+€493,021
Depreciation
+€6,221
Smaller working-capital items
+€1,357
Trade debts
-€13,018
Tax, wage and social debts
-€4,955
Other debts
+€585,528
Investment (derived)
-€1.5m
Investment in fixed assets (net)
-€1.5m
Financing
+€452,839
Debts after one year
+€958,333
Current portion of long-term debt
-€5,494
Short-term financial debts
-€500,000
Cash 2025
€34,286
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,040,375 | €5,553,787 | +€1.5m | +37.5% |
| Fixed assets | 21/28 | €3,956,177 | €5,451,288 | +€1.5m | +37.8% |
| Tangible fixed assets | 22/27 | €6,177 | €1,288 | -€4,889 | -79.2% |
| Furniture and vehicles | 24 | €549 | €1,288 | +€738 | +134.5% |
| Leasing and similar rights | 25 | €5,628 | - | -€5,628 | |
| Financial fixed assets | 28 | €3,950,000 | €5,450,000 | +€1.5m | +38.0% |
| Current assets | 29/58 | €84,199 | €102,499 | +€18,301 | +21.7% |
| Amounts receivable within one year | 40/41 | €69,575 | €68,213 | -€1,362 | -2.0% |
| Trade receivables | 40 | €50,685 | €33,777 | -€16,908 | -33.4% |
| Other amounts receivable | 41 | €18,890 | €34,436 | +€15,546 | +82.3% |
| Cash at bank and in hand | 54/58 | €14,623 | €34,286 | +€19,663 | +134.5% |
| Total equity and liabilities | 10/49 | €4,040,375 | €5,553,787 | +€1.5m | +37.5% |
| Equity | 10/15 | €230,032 | €723,054 | +€493,021 | +214.3% |
| Contributions | 10/11 | €203,000 | €203,000 | = | 0.0% |
| Reserves | 13 | €27,032 | €520,000 | +€492,968 | +1823.6% |
| Distributable reserves | 133 | €27,032 | €520,000 | +€492,968 | +1823.6% |
| Profit (loss) carried forward | 14 | - | €54 | +€54 | |
| Amounts payable | 17/49 | €3,810,343 | €4,830,733 | +€1.0m | +26.8% |
| Amounts payable after more than one year | 17 | €2,708,333 | €3,666,667 | +€958,333 | +35.4% |
| Financial debts | 170/4 | €2,708,333 | €3,666,667 | +€958,333 | +35.4% |
| Amounts payable within one year | 42/48 | €1,101,977 | €1,164,039 | +€62,062 | +5.6% |
| Current portion of amounts payable after more than one year | 42 | €547,161 | €541,667 | -€5,494 | -1.0% |
| Financial debts | 43 | €500,000 | - | -€500,000 | |
| Credit institutions | 430/8 | €500,000 | - | -€500,000 | |
| Trade debts | 44 | €41,725 | €28,707 | -€13,018 | -31.2% |
| Suppliers | 440/4 | €41,725 | €28,707 | -€13,018 | -31.2% |
| Taxes, remuneration and social security | 45 | €11,296 | €6,341 | -€4,955 | -43.9% |
| Taxes | 450/3 | €11,296 | €6,341 | -€4,955 | -43.9% |
| Other amounts payable | 47/48 | €1,796 | €587,324 | +€585,528 | +32610.9% |
| Accrued charges and deferred income | 492/3 | €32 | €27 | -€5 | -15.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,386 | €6,221 | -€165 | -2.6% |
| Other operating charges | 640/8 | €5,965 | €5,284 | -€681 | -11.4% |
| Gross operating margin | 9900 | €9,536 | €201,312 | +€191,776 | +2011.1% |
| Operating profit (loss) | 9901 | -€2,815 | €189,807 | +€192,622 | |
| Financial income | 75/76B | - | €510,000 | +€510,000 | |
| Recurring financial income | 75 | - | €510,000 | +€510,000 | |
| Financial charges | 65/66B | €17,354 | €206,786 | +€189,432 | +1091.6% |
| Recurring financial charges | 65 | €17,354 | €206,786 | +€189,432 | +1091.6% |
| Profit (loss) for the period before taxes | 9903 | -€20,169 | €493,021 | +€513,190 | |
| Income taxes | 67/77 | €171 | - | -€171 | |
| Profit (loss) for the period | 9904 | -€20,340 | €493,021 | +€513,361 | |
| Profit (loss) for the period to be appropriated | 9905 | -€20,340 | €493,021 | +€513,361 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.