ELLMAR: 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.
ELLMAR
Largest movements
- Current investments +€34,008
up €34,008 (+13.8%), from €246,831 to €280,839
- Receivables after one year +€25,603
up €25,603 (+434.2%), from €5,897 to €31,500
- Receivables within one year -€19,201
down €19,201 (-41.2%), from €46,580 to €27,379
of which Other amounts receivable: -€19,223
- Other debts +€54,432
up €54,432 (+186.3%), from €29,218 to €83,651
- Reserves -€18,258
down €18,258 (-3.9%), from €468,662 to €450,403
- Tax, wage and social debts +€11,246
up €11,246 (+38.9%), from €28,899 to €40,145
of which Taxes: +€11,225
- Trade debts -€7,512
down €7,512 (-57.5%), from €13,072 to €5,560
- Taxes +€7,459
up €7,459 (+29.1%), from €25,654 to €33,112
- Gross operating margin +€6,854
up €6,854 (+7.6%), from €90,468 to €97,322
- Financial charges -€3,456
down €3,456 (-65.4%), from €5,282 to €1,826
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 | €556,377 | €596,162 | +€39,785 | +7.2% |
| Fixed assets | 21/28 | €4,959 | €1,833 | -€3,127 | -63.0% |
| Tangible fixed assets | 22/27 | €4,959 | €1,833 | -€3,127 | -63.0% |
| Furniture and vehicles | 24 | €4,959 | €1,833 | -€3,126 | -63.0% |
| Other tangible fixed assets | 26 | €1 | - | -€1 | |
| Current assets | 29/58 | €551,418 | €594,329 | +€42,911 | +7.8% |
| Amounts receivable after more than one year | 29 | €5,897 | €31,500 | +€25,603 | +434.2% |
| Other amounts receivable | 291 | €5,897 | €31,500 | +€25,603 | +434.2% |
| Amounts receivable within one year | 40/41 | €46,580 | €27,379 | -€19,201 | -41.2% |
| Trade receivables | 40 | €20,339 | €20,361 | +€22 | +0.1% |
| Other amounts receivable | 41 | €26,241 | €7,018 | -€19,223 | -73.3% |
| Current investments | 50/53 | €246,831 | €280,839 | +€34,008 | +13.8% |
| Cash at bank and in hand | 54/58 | €249,061 | €251,234 | +€2,173 | +0.9% |
| Deferred charges and accrued income | 490/1 | €3,048 | €3,377 | +€329 | +10.8% |
| Total equity and liabilities | 10/49 | €556,377 | €596,162 | +€39,785 | +7.2% |
| Equity | 10/15 | €484,862 | €466,603 | -€18,258 | -3.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €468,662 | €450,403 | -€18,258 | -3.9% |
| Distributable reserves | 133 | €468,662 | €450,403 | -€18,258 | -3.9% |
| Profit (loss) carried forward | 14 | €10,000 | €10,000 | = | 0.0% |
| Amounts payable | 17/49 | €71,516 | €129,559 | +€58,043 | +81.2% |
| Amounts payable within one year | 42/48 | €71,516 | €129,559 | +€58,043 | +81.2% |
| Financial debts | 43 | €327 | €203 | -€124 | -37.9% |
| Credit institutions | 430/8 | €327 | €203 | -€124 | -37.9% |
| Trade debts | 44 | €13,072 | €5,560 | -€7,512 | -57.5% |
| Suppliers | 440/4 | €13,072 | €5,560 | -€7,512 | -57.5% |
| Taxes, remuneration and social security | 45 | €28,899 | €40,145 | +€11,246 | +38.9% |
| Taxes | 450/3 | €25,635 | €36,860 | +€11,225 | +43.8% |
| Remuneration and social security | 454/9 | €3,263 | €3,284 | +€21 | +0.6% |
| Other amounts payable | 47/48 | €29,218 | €83,651 | +€54,432 | +186.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,181 | €3,127 | -€54 | -1.7% |
| Other operating charges | 640/8 | €1,480 | €1,320 | -€160 | -10.8% |
| Gross operating margin | 9900 | €90,468 | €97,322 | +€6,854 | +7.6% |
| Operating profit (loss) | 9901 | €85,807 | €92,875 | +€7,068 | +8.2% |
| Financial income | 75/76B | €7,243 | €7,456 | +€213 | +2.9% |
| Recurring financial income | 75 | €7,243 | €7,456 | +€213 | +2.9% |
| Financial charges | 65/66B | €5,282 | €1,826 | -€3,456 | -65.4% |
| Recurring financial charges | 65 | €5,282 | €1,826 | -€3,456 | -65.4% |
| Profit (loss) for the period before taxes | 9903 | €87,768 | €98,505 | +€10,737 | +12.2% |
| Income taxes | 67/77 | €25,654 | €33,112 | +€7,459 | +29.1% |
| Profit (loss) for the period | 9904 | €62,114 | €65,393 | +€3,278 | +5.3% |
| Profit (loss) for the period to be appropriated | 9905 | €62,114 | €65,393 | +€3,278 | +5.3% |
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 11 October 2026 via checked.be.