ELLIPS: 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.
ELLIPS
Largest movements
- Tangible fixed assets -€52,761
down €52,761 (-31.2%), from €169,308 to €116,547
of which Plant, machinery and equipment: -€45,759
- Receivables within one year +€50,005
up €50,005 (+24.5%), from €203,904 to €253,909
of which Trade receivables: +€60,443
- Stocks and contracts -€33,884
down €33,884 (-73.1%), from €46,384 to €12,500
- Intangible fixed assets -€33,291
down €33,291 (-19.7%), from €169,354 to €136,063
- Cash +€24,645
up €24,645 (+73.2%), from €33,649 to €58,293
mainly Depreciation (+€89,794) and Tax, wage and social debts (+€52,752)
- Debts after one year -€71,526
down €71,526 (-25.2%), from €283,402 to €211,876
- Trade debts -€59,709
down €59,709 (-57.8%), from €103,297 to €43,589
- Tax, wage and social debts +€52,752
up €52,752 (+87.1%), from €60,552 to €113,304
of which Taxes: +€38,751
- Profit (loss) carried forward +€20,470
up €20,470 (+29.1%), from €70,376 to €90,846
- Other debts +€13,911
up €13,911 (+35.3%), from €39,368 to €53,279
- Gross operating margin +€48,505
up €48,505 (+13.8%), from €352,314 to €400,818
- Staff costs +€46,283
up €46,283 (+20.0%), from €231,707 to €277,989
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 | €656,762 | €610,799 | -€45,963 | -7.0% |
| Fixed assets | 21/28 | €345,474 | €259,423 | -€86,052 | -24.9% |
| Intangible fixed assets | 21 | €169,354 | €136,063 | -€33,291 | -19.7% |
| Tangible fixed assets | 22/27 | €169,308 | €116,547 | -€52,761 | -31.2% |
| Plant, machinery and equipment | 23 | €152,453 | €106,694 | -€45,759 | -30.0% |
| Furniture and vehicles | 24 | €16,855 | €9,853 | -€7,002 | -41.5% |
| Financial fixed assets | 28 | €6,812 | €6,812 | = | 0.0% |
| Current assets | 29/58 | €311,287 | €351,376 | +€40,089 | +12.9% |
| Stocks and contracts in progress | 3 | €46,384 | €12,500 | -€33,884 | -73.1% |
| Contracts in progress | 37 | €46,384 | €12,500 | -€33,884 | -73.1% |
| Amounts receivable within one year | 40/41 | €203,904 | €253,909 | +€50,005 | +24.5% |
| Trade receivables | 40 | €178,116 | €238,559 | +€60,443 | +33.9% |
| Other amounts receivable | 41 | €25,788 | €15,350 | -€10,438 | -40.5% |
| Cash at bank and in hand | 54/58 | €33,649 | €58,293 | +€24,645 | +73.2% |
| Deferred charges and accrued income | 490/1 | €27,351 | €26,674 | -€677 | -2.5% |
| Total equity and liabilities | 10/49 | €656,762 | €610,799 | -€45,963 | -7.0% |
| Equity | 10/15 | €92,376 | €112,846 | +€20,470 | +22.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €70,376 | €90,846 | +€20,470 | +29.1% |
| Amounts payable | 17/49 | €564,385 | €497,953 | -€66,433 | -11.8% |
| Amounts payable after more than one year | 17 | €283,402 | €211,876 | -€71,526 | -25.2% |
| Financial debts | 170/4 | €283,402 | €211,876 | -€71,526 | -25.2% |
| Amounts payable within one year | 42/48 | €280,983 | €286,076 | +€5,093 | +1.8% |
| Current portion of amounts payable after more than one year | 42 | €77,765 | €75,905 | -€1,860 | -2.4% |
| Trade debts | 44 | €103,297 | €43,589 | -€59,709 | -57.8% |
| Suppliers | 440/4 | €103,297 | €43,589 | -€59,709 | -57.8% |
| Taxes, remuneration and social security | 45 | €60,552 | €113,304 | +€52,752 | +87.1% |
| Taxes | 450/3 | €25,153 | €63,904 | +€38,751 | +154.1% |
| Remuneration and social security | 454/9 | €35,399 | €49,400 | +€14,001 | +39.6% |
| Other amounts payable | 47/48 | €39,368 | €53,279 | +€13,911 | +35.3% |
| Non-recurring operating income | 76A | €3,530 | - | -€3,530 | |
| Remuneration, social security and pensions | 62 | €231,707 | €277,989 | +€46,283 | +20.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €90,152 | €89,794 | -€359 | -0.4% |
| Other operating charges | 640/8 | €732 | €754 | +€21 | +2.9% |
| Gross operating margin | 9900 | €352,314 | €400,818 | +€48,505 | +13.8% |
| Operating profit (loss) | 9901 | €29,722 | €32,282 | +€2,559 | +8.6% |
| Financial income | 75/76B | €191 | €361 | +€170 | +89.1% |
| Recurring financial income | 75 | €191 | €361 | +€170 | +89.1% |
| Financial charges | 65/66B | €7,561 | €4,927 | -€2,634 | -34.8% |
| Recurring financial charges | 65 | €7,561 | €4,927 | -€2,634 | -34.8% |
| Profit (loss) for the period before taxes | 9903 | €22,352 | €27,715 | +€5,363 | +24.0% |
| Income taxes | 67/77 | €4,609 | €7,246 | +€2,637 | +57.2% |
| Profit (loss) for the period | 9904 | €17,743 | €20,470 | +€2,726 | +15.4% |
| Profit (loss) for the period to be appropriated | 9905 | €17,743 | €20,470 | +€2,726 | +15.4% |
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 3 October 2026 via checked.be.