ELLES 2: 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.
ELLES 2
Largest movements
- Tangible fixed assets +€53,097
up €53,097 (+22.0%), from €241,507 to €294,604
of which Land and buildings: +€54,383
- Financial fixed assets +€7,500
new in 2025: €7,500
- Other debts +€96,558
up €96,558 (+52.7%), from €183,297 to €279,855
- Profit (loss) carried forward -€44,685
down €44,685 (-1,989%), from -€2,247 to -€46,932
- Tax, wage and social debts +€5,663
up €5,663 (+409%), from €1,384 to €7,048
- Depreciation +€6,778
up €6,778 (+101%), from €6,698 to €13,476
- Gross operating margin +€3,047
up €3,047 (+26.1%), from -€11,681 to -€8,634
- Financial charges +€499
up €499 (+311%), from €160 to €659
- Other operating charges +€125
up €125 (+16.5%), from €759 to €885
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €242,067 | €302,105 | +€60,038 | +24.8% |
| Fixed assets | 21/28 | €241,507 | €302,104 | +€60,597 | +25.1% |
| Tangible fixed assets | 22/27 | €241,507 | €294,604 | +€53,097 | +22.0% |
| Land and buildings | 22 | €237,458 | €291,840 | +€54,383 | +22.9% |
| Plant, machinery and equipment | 23 | €4,049 | €2,764 | -€1,285 | -31.7% |
| Financial fixed assets | 28 | - | €7,500 | +€7,500 | |
| Current assets | 29/58 | €561 | €1 | -€560 | -99.8% |
| Cash at bank and in hand | 54/58 | €561 | €1 | -€560 | -99.8% |
| Total equity and liabilities | 10/49 | €242,067 | €302,105 | +€60,038 | +24.8% |
| Equity | 10/15 | €3,753 | -€40,932 | -€44,685 | |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Contributions outside capital | 11 | €6,000 | - | -€6,000 | |
| Other | 1109/19 | €6,000 | - | -€6,000 | |
| Profit (loss) carried forward | 14 | -€2,247 | -€46,932 | -€44,685 | -1,989% |
| Amounts payable | 17/49 | €238,314 | €343,037 | +€104,723 | +43.9% |
| Amounts payable within one year | 42/48 | €238,314 | €343,037 | +€104,723 | +43.9% |
| Trade debts | 44 | €53,632 | €56,134 | +€2,502 | +4.7% |
| Suppliers | 440/4 | €53,632 | €56,134 | +€2,502 | +4.7% |
| Taxes, remuneration and social security | 45 | €1,384 | €7,048 | +€5,663 | +409% |
| Taxes | 450/3 | €1,384 | €7,048 | +€5,663 | +409% |
| Other amounts payable | 47/48 | €183,297 | €279,855 | +€96,558 | +52.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,698 | €13,476 | +€6,778 | +101% |
| Other operating charges | 640/8 | €759 | €885 | +€125 | +16.5% |
| Gross operating margin | 9900 | -€11,681 | -€8,634 | +€3,047 | +26.1% |
| Operating profit (loss) | 9901 | -€19,139 | -€22,995 | -€3,856 | -20.1% |
| Financial charges | 65/66B | €160 | €659 | +€499 | +311% |
| Recurring financial charges | 65 | €160 | €659 | +€499 | +311% |
| Profit (loss) for the period before taxes | 9903 | -€19,299 | -€23,654 | -€4,355 | -22.6% |
| Profit (loss) for the period | 9904 | -€19,299 | -€23,654 | -€4,355 | -22.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€19,299 | -€23,654 | -€4,355 | -22.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2023 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.