ELLIPS: 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.
ELLIPS
Largest movements
- Tangible fixed assets +€41,802
up €41,802 (+61.8%), from €67,653 to €109,454
of which Plant, machinery and equipment: +€31,596
- Cash -€33,320
down €33,320 (-9.1%), from €367,184 to €333,864
mainly Investment in fixed assets (net) (-€61,253) and Trade debts (-€51,052)
- Receivables within one year +€7,737
up €7,737 (+1,131%), from €684 to €8,421
of which Other amounts receivable: +€5,800
- Stocks and contracts -€7,376
down €7,376 (-21.4%), from €34,494 to €27,118
- Reserves +€70,000
up €70,000 (+97.4%), from €71,860 to €141,860
of which Distributable reserves: +€70,000
- Trade debts -€51,052
down €51,052 (-58.4%), from €87,405 to €36,353
- Tax, wage and social debts -€11,845
down €11,845 (-23.1%), from €51,363 to €39,518
of which Taxes: -€32,131
- Profit (loss) carried forward +€9,005
up €9,005 (+3.9%), from €231,110 to €240,114
- Debts after one year -€7,115
no longer reported in 2025 (was €7,115)
- Turnover +€54,624
up €54,624 (+6.7%), from €810,554 to €865,178
- Purchases and services +€28,984
up €28,984 (+5.1%), from €570,201 to €599,185
- Gross operating margin +€23,403
up €23,403 (+9.3%), from €252,950 to €276,353
- Staff costs +€21,954
up €21,954 (+19.2%), from €114,618 to €136,572
- Depreciation +€9,240
up €9,240 (+90.5%), from €10,211 to €19,451
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 | €470,015 | €478,858 | +€8,844 | +1.9% |
| Fixed assets | 21/28 | €67,653 | €109,454 | +€41,802 | +61.8% |
| Tangible fixed assets | 22/27 | €67,653 | €109,454 | +€41,802 | +61.8% |
| Land and buildings | 22 | €25,386 | €29,909 | +€4,523 | +17.8% |
| Plant, machinery and equipment | 23 | €41,514 | €73,110 | +€31,596 | +76.1% |
| Furniture and vehicles | 24 | €752 | €6,435 | +€5,682 | +755% |
| Current assets | 29/58 | €402,362 | €369,404 | -€32,958 | -8.2% |
| Stocks and contracts in progress | 3 | €34,494 | €27,118 | -€7,376 | -21.4% |
| Stocks | 30/36 | €34,494 | €27,118 | -€7,376 | -21.4% |
| Amounts receivable within one year | 40/41 | €684 | €8,421 | +€7,737 | +1,131% |
| Trade receivables | 40 | €684 | €2,621 | +€1,937 | +283% |
| Other amounts receivable | 41 | - | €5,800 | +€5,800 | |
| Cash at bank and in hand | 54/58 | €367,184 | €333,864 | -€33,320 | -9.1% |
| Total equity and liabilities | 10/49 | €470,015 | €478,858 | +€8,844 | +1.9% |
| Equity | 10/15 | €321,570 | €400,574 | +€79,005 | +24.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €71,860 | €141,860 | +€70,000 | +97.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €70,000 | €140,000 | +€70,000 | +100% |
| Profit (loss) carried forward | 14 | €231,110 | €240,114 | +€9,005 | +3.9% |
| Amounts payable | 17/49 | €148,445 | €78,284 | -€70,161 | -47.3% |
| Amounts payable after more than one year | 17 | €7,115 | - | -€7,115 | |
| Financial debts | 170/4 | €7,115 | - | -€7,115 | |
| Amounts payable within one year | 42/48 | €141,330 | €78,284 | -€63,046 | -44.6% |
| Current portion of amounts payable after more than one year | 42 | €2,562 | €2,413 | -€149 | -5.8% |
| Trade debts | 44 | €87,405 | €36,353 | -€51,052 | -58.4% |
| Suppliers | 440/4 | €87,405 | €36,353 | -€51,052 | -58.4% |
| Taxes, remuneration and social security | 45 | €51,363 | €39,518 | -€11,845 | -23.1% |
| Taxes | 450/3 | €38,543 | €6,412 | -€32,131 | -83.4% |
| Remuneration and social security | 454/9 | €12,820 | €33,106 | +€20,286 | +158% |
| Turnover | 70 | €810,554 | €865,178 | +€54,624 | +6.7% |
| Non-recurring operating income | 76A | - | €0 | +€0 | |
| Goods, raw materials, services and sundry goods | 60/61 | €570,201 | €599,185 | +€28,984 | +5.1% |
| Remuneration, social security and pensions | 62 | €114,618 | €136,572 | +€21,954 | +19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,211 | €19,451 | +€9,240 | +90.5% |
| Other operating charges | 640/8 | €8,026 | €10,103 | +€2,077 | +25.9% |
| Non-recurring operating charges | 66A | €0 | €0 | -€0 | -84.8% |
| Gross operating margin | 9900 | €252,950 | €276,353 | +€23,403 | +9.3% |
| Operating profit (loss) | 9901 | €120,094 | €110,227 | -€9,868 | -8.2% |
| Financial income | 75/76B | €903 | €3,523 | +€2,620 | +290% |
| Recurring financial income | 75 | €903 | €3,523 | +€2,620 | +290% |
| Financial charges | 65/66B | €1,920 | €282 | -€1,638 | -85.3% |
| Recurring financial charges | 65 | €1,920 | €282 | -€1,638 | -85.3% |
| Non-recurring financial charges | 66B | €0 | - | -€0 | |
| Profit (loss) for the period before taxes | 9903 | €119,078 | €113,468 | -€5,610 | -4.7% |
| Income taxes | 67/77 | €34,261 | €34,463 | +€202 | +0.6% |
| Profit (loss) for the period | 9904 | €84,817 | €79,005 | -€5,812 | -6.9% |
| Profit (loss) for the period to be appropriated | 9905 | €84,817 | €79,005 | -€5,812 | -6.9% |
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 14 October 2026 via checked.be.