elleVation: 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.
elleVation
Largest movements
- Cash +€43,956
up €43,956 (+265.9%), from €16,534 to €60,490
mainly Net result for the year (+€38,162) and Depreciation (+€25,964)
- Receivables within one year -€21,780
down €21,780 (-19.3%), from €112,583 to €90,804
of which Trade receivables: -€18,076
- Tangible fixed assets -€21,210
down €21,210 (-7.6%), from €280,453 to €259,243
of which Land and buildings: -€19,932
- Reserves +€38,162
up €38,162 (+222.3%), from €17,167 to €55,329
of which Distributable reserves: +€38,162
- Debts after one year -€21,513
down €21,513 (-8.9%), from €240,464 to €218,950
of which Financial debts: -€21,513
- Tax, wage and social debts -€15,769
down €15,769 (-70.5%), from €22,374 to €6,605
of which Taxes: -€15,019
- Other debts -€6,626
down €6,626 (-67.7%), from €9,793 to €3,167
- Trade debts +€4,269
up €4,269 (+707.1%), from €604 to €4,873
- Gross operating margin +€44,492
up €44,492 (+83.3%), from €53,414 to €97,905
- Taxes +€14,375
up €14,375 (+239.6%), from €6,000 to €20,375
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 | €412,265 | €411,781 | -€484 | -0.1% |
| Fixed assets | 21/28 | €280,700 | €259,490 | -€21,210 | -7.6% |
| Tangible fixed assets | 22/27 | €280,453 | €259,243 | -€21,210 | -7.6% |
| Land and buildings | 22 | €266,591 | €246,659 | -€19,932 | -7.5% |
| Plant, machinery and equipment | 23 | €1,860 | €1,230 | -€630 | -33.9% |
| Furniture and vehicles | 24 | €12,001 | €11,354 | -€647 | -5.4% |
| Financial fixed assets | 28 | €247 | €247 | = | 0.0% |
| Current assets | 29/58 | €131,565 | €152,291 | +€20,726 | +15.8% |
| Amounts receivable within one year | 40/41 | €112,583 | €90,804 | -€21,780 | -19.3% |
| Trade receivables | 40 | €103,584 | €85,508 | -€18,076 | -17.5% |
| Other amounts receivable | 41 | €9,000 | €5,296 | -€3,704 | -41.2% |
| Cash at bank and in hand | 54/58 | €16,534 | €60,490 | +€43,956 | +265.9% |
| Deferred charges and accrued income | 490/1 | €2,448 | €997 | -€1,451 | -59.3% |
| Total equity and liabilities | 10/49 | €412,265 | €411,781 | -€484 | -0.1% |
| Equity | 10/15 | €113,510 | €151,672 | +€38,162 | +33.6% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €17,167 | €55,329 | +€38,162 | +222.3% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €15,312 | €53,474 | +€38,162 | +249.2% |
| Profit (loss) carried forward | 14 | €77,793 | €77,793 | = | 0.0% |
| Amounts payable | 17/49 | €298,755 | €260,109 | -€38,645 | -12.9% |
| Amounts payable after more than one year | 17 | €240,464 | €218,950 | -€21,513 | -8.9% |
| Financial debts | 170/4 | €190,464 | €168,950 | -€21,513 | -11.3% |
| Other amounts payable | 178/9 | €50,000 | €50,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €58,291 | €41,159 | -€17,132 | -29.4% |
| Current portion of amounts payable after more than one year | 42 | €20,775 | €21,513 | +€738 | +3.6% |
| Financial debts | 43 | €4,745 | €5,000 | +€255 | +5.4% |
| Credit institutions | 430/8 | €4,745 | €5,000 | +€255 | +5.4% |
| Trade debts | 44 | €604 | €4,873 | +€4,269 | +707.1% |
| Suppliers | 440/4 | €604 | €4,873 | +€4,269 | +707.1% |
| Taxes, remuneration and social security | 45 | €22,374 | €6,605 | -€15,769 | -70.5% |
| Taxes | 450/3 | €21,024 | €6,005 | -€15,019 | -71.4% |
| Remuneration and social security | 454/9 | €1,350 | €600 | -€750 | -55.6% |
| Other amounts payable | 47/48 | €9,793 | €3,167 | -€6,626 | -67.7% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €1,592 | €0 | -€1,592 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,303 | €25,964 | +€662 | +2.6% |
| Other operating charges | 640/8 | €1,702 | €2,207 | +€505 | +29.7% |
| Gross operating margin | 9900 | €53,414 | €97,905 | +€44,492 | +83.3% |
| Operating profit (loss) | 9901 | €26,409 | €69,735 | +€43,325 | +164.1% |
| Financial income | 75/76B | €0 | €0 | -€0 | -87.5% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -87.5% |
| Financial charges | 65/66B | €11,230 | €11,198 | -€32 | -0.3% |
| Recurring financial charges | 65 | €11,230 | €11,198 | -€32 | -0.3% |
| Profit (loss) for the period before taxes | 9903 | €15,179 | €58,537 | +€43,358 | +285.6% |
| Income taxes | 67/77 | €6,000 | €20,375 | +€14,375 | +239.6% |
| Profit (loss) for the period | 9904 | €9,179 | €38,162 | +€28,983 | +315.8% |
| Profit (loss) for the period to be appropriated | 9905 | €9,179 | €38,162 | +€28,983 | +315.8% |
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.