ELLIPSE GROUP: 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.
ELLIPSE GROUP
Largest movements
- Receivables within one year +€30,391
up €30,391 (+17.3%), from €175,973 to €206,364
of which Other amounts receivable: +€30,808
- Tangible fixed assets +€6,895
up €6,895 (+81.9%), from €8,420 to €15,316
of which Other tangible fixed assets: +€3,757
- Cash +€3,841
new in 2025: €3,841
mainly Net result for the year (+€40,522) and Tax, wage and social debts (+€12,123)
- Reserves +€40,000
up €40,000 (+46.4%), from €86,154 to €126,154
- Tax, wage and social debts +€12,123
up €12,123 (+37.8%), from €32,037 to €44,160
- Trade debts -€10,684
down €10,684 (-14.7%), from €72,712 to €62,027
- Taxes -€9,321
down €9,321 (-34.1%), from €27,344 to €18,023
- Gross operating margin -€6,424
down €6,424 (-9.9%), from €65,135 to €58,711
- Financial income +€2,488
up €2,488 (+45.3%), from €5,487 to €7,976
- Financial charges +€1,910
up €1,910 (+87.6%), from €2,181 to €4,091
- Depreciation +€1,046
up €1,046 (+170%), from €615 to €1,661
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 | €204,543 | €245,670 | +€41,127 | +20.1% |
| Fixed assets | 21/28 | €8,570 | €15,466 | +€6,895 | +80.5% |
| Tangible fixed assets | 22/27 | €8,420 | €15,316 | +€6,895 | +81.9% |
| Furniture and vehicles | 24 | €3,011 | €4,501 | +€1,491 | +49.5% |
| Other tangible fixed assets | 26 | - | €3,757 | +€3,757 | |
| Assets under construction and advance payments | 27 | €5,410 | €7,058 | +€1,648 | +30.5% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €195,973 | €230,205 | +€34,232 | +17.5% |
| Amounts receivable after more than one year | 29 | €20,000 | €20,000 | = | 0.0% |
| Other amounts receivable | 291 | €20,000 | €20,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €175,973 | €206,364 | +€30,391 | +17.3% |
| Trade receivables | 40 | €70,193 | €69,776 | -€417 | -0.6% |
| Other amounts receivable | 41 | €105,779 | €136,588 | +€30,808 | +29.1% |
| Cash at bank and in hand | 54/58 | - | €3,841 | +€3,841 | |
| Total equity and liabilities | 10/49 | €204,543 | €245,670 | +€41,127 | +20.1% |
| Equity | 10/15 | €98,960 | €139,483 | +€40,522 | +40.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €86,154 | €126,154 | +€40,000 | +46.4% |
| Distributable reserves | 133 | €86,154 | €126,154 | +€40,000 | +46.4% |
| Profit (loss) carried forward | 14 | €406 | €929 | +€522 | +129% |
| Amounts payable | 17/49 | €105,583 | €106,188 | +€605 | +0.6% |
| Amounts payable within one year | 42/48 | €105,583 | €106,188 | +€605 | +0.6% |
| Financial debts | 43 | €834 | - | -€834 | |
| Credit institutions | 430/8 | €834 | - | -€834 | |
| Trade debts | 44 | €72,712 | €62,027 | -€10,684 | -14.7% |
| Suppliers | 440/4 | €72,712 | €62,027 | -€10,684 | -14.7% |
| Taxes, remuneration and social security | 45 | €32,037 | €44,160 | +€12,123 | +37.8% |
| Taxes | 450/3 | €32,037 | €44,160 | +€12,123 | +37.8% |
| Non-recurring operating income | 76A | - | €448 | +€448 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €615 | €1,661 | +€1,046 | +170% |
| Other operating charges | 640/8 | €1,483 | €2,178 | +€695 | +46.9% |
| Non-recurring operating charges | 66A | €1,230 | €212 | -€1,018 | -82.8% |
| Gross operating margin | 9900 | €65,135 | €58,711 | -€6,424 | -9.9% |
| Operating profit (loss) | 9901 | €61,807 | €54,661 | -€7,147 | -11.6% |
| Financial income | 75/76B | €5,487 | €7,976 | +€2,488 | +45.3% |
| Recurring financial income | 75 | €5,487 | €7,976 | +€2,488 | +45.3% |
| Financial charges | 65/66B | €2,181 | €4,091 | +€1,910 | +87.6% |
| Recurring financial charges | 65 | €2,181 | €4,091 | +€1,910 | +87.6% |
| Profit (loss) for the period before taxes | 9903 | €65,113 | €58,545 | -€6,568 | -10.1% |
| Income taxes | 67/77 | €27,344 | €18,023 | -€9,321 | -34.1% |
| Profit (loss) for the period | 9904 | €37,770 | €40,522 | +€2,753 | +7.3% |
| Profit (loss) for the period to be appropriated | 9905 | €37,770 | €40,522 | +€2,753 | +7.3% |
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 25 October 2026 via checked.be.