ELLISA: 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.
ELLISA
Largest movements
- Cash +€294,930
up €294,930 (+9.0%), from €3.3m to €3.6m
mainly Net result for the year (+€511,585) and Current investments (+€39,699)
- Receivables within one year +€285,351
up €285,351 (+26.3%), from €1.1m to €1.4m
of which Other amounts receivable: +€162,412
- Reserves +€511,585
up €511,585 (+2.8%), from €18.0m to €18.5m
of which Non-distributable reserves: +€511,585
- Financial charges +€423,671
up €423,671, from -€293,415 to €130,255
- Financial income -€337,276
down €337,276 (-43.7%), from €772,409 to €435,134
- Taxes -€154,019
down €154,019 (-39.2%), from €393,125 to €239,106
- Gross operating margin -€52,683
down €52,683 (-10.2%), from €514,333 to €461,650
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 | €19,469,281 | €19,959,401 | +€490,121 | +2.5% |
| Fixed assets | 21/28 | €1,605,435 | €1,590,864 | -€14,571 | -0.9% |
| Tangible fixed assets | 22/27 | €49,366 | €34,795 | -€14,571 | -29.5% |
| Plant, machinery and equipment | 23 | €7,051 | €4,444 | -€2,606 | -37.0% |
| Furniture and vehicles | 24 | €21,005 | €13,301 | -€7,704 | -36.7% |
| Other tangible fixed assets | 26 | €21,311 | €17,050 | -€4,261 | -20.0% |
| Financial fixed assets | 28 | €1,556,069 | €1,556,069 | = | 0.0% |
| Current assets | 29/58 | €17,863,846 | €18,368,537 | +€504,692 | +2.8% |
| Amounts receivable within one year | 40/41 | €1,083,113 | €1,368,464 | +€285,351 | +26.3% |
| Trade receivables | 40 | - | €122,939 | +€122,939 | |
| Other amounts receivable | 41 | €1,083,113 | €1,245,525 | +€162,412 | +15.0% |
| Current investments | 50/53 | €13,417,729 | €13,378,031 | -€39,699 | -0.3% |
| Cash at bank and in hand | 54/58 | €3,284,815 | €3,579,745 | +€294,930 | +9.0% |
| Deferred charges and accrued income | 490/1 | €78,189 | €42,297 | -€35,891 | -45.9% |
| Total equity and liabilities | 10/49 | €19,469,281 | €19,959,401 | +€490,121 | +2.5% |
| Equity | 10/15 | €19,387,735 | €19,899,320 | +€511,585 | +2.6% |
| Contributions | 10/11 | €1,430,000 | €1,430,000 | = | 0.0% |
| Capital | 10 | €1,430,000 | €1,430,000 | = | 0.0% |
| Issued capital | 100 | €1,430,000 | €1,430,000 | = | 0.0% |
| Reserves | 13 | €17,957,429 | €18,469,013 | +€511,585 | +2.8% |
| Non-distributable reserves | 130/1 | €17,956,642 | €18,468,227 | +€511,585 | +2.8% |
| Legal reserve | 130 | €443,000 | €443,000 | = | 0.0% |
| Other | 1319 | €17,513,642 | €18,025,227 | +€511,585 | +2.9% |
| Distributable reserves | 133 | €787 | €787 | = | 0.0% |
| Profit (loss) carried forward | 14 | €306 | €306 | = | 0.0% |
| Amounts payable | 17/49 | €81,546 | €60,082 | -€21,464 | -26.3% |
| Amounts payable within one year | 42/48 | €71,532 | €57,508 | -€14,024 | -19.6% |
| Trade debts | 44 | €736 | €2,394 | +€1,659 | +225.5% |
| Suppliers | 440/4 | €736 | €2,394 | +€1,659 | +225.5% |
| Taxes, remuneration and social security | 45 | €62,480 | €51,440 | -€11,040 | -17.7% |
| Taxes | 450/3 | €62,480 | €51,440 | -€11,040 | -17.7% |
| Other amounts payable | 47/48 | €8,316 | €3,674 | -€4,643 | -55.8% |
| Accrued charges and deferred income | 492/3 | €10,013 | €2,574 | -€7,440 | -74.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,472 | €14,571 | +€1,099 | +8.2% |
| Other operating charges | 640/8 | €1,279 | €1,267 | -€12 | -1.0% |
| Gross operating margin | 9900 | €514,333 | €461,650 | -€52,683 | -10.2% |
| Operating profit (loss) | 9901 | €499,582 | €445,813 | -€53,770 | -10.8% |
| Financial income | 75/76B | €772,409 | €435,134 | -€337,276 | -43.7% |
| Recurring financial income | 75 | €772,409 | €435,134 | -€337,276 | -43.7% |
| Financial charges | 65/66B | -€293,415 | €130,255 | +€423,671 | |
| Recurring financial charges | 65 | -€293,415 | €130,255 | +€423,671 | |
| Profit (loss) for the period before taxes | 9903 | €1,565,407 | €750,691 | -€814,716 | -52.0% |
| Income taxes | 67/77 | €393,125 | €239,106 | -€154,019 | -39.2% |
| Profit (loss) for the period | 9904 | €1,172,282 | €511,585 | -€660,697 | -56.4% |
| Profit (loss) for the period to be appropriated | 9905 | €1,172,282 | €511,585 | -€660,697 | -56.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 December 2024 and 30 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.