ELLO PROJECTS: 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.
ELLO PROJECTS
Largest movements
- Current investments +€70,000
new in 2025: €70,000
- Cash -€41,199
down €41,199 (-47.3%), from €87,164 to €45,965
mainly Current investments (-€70,000) and Investment in fixed assets (net) (-€6,423)
- Tangible fixed assets +€4,528
up €4,528 (+104.6%), from €4,327 to €8,855
of which Other tangible fixed assets: +€5,825
- Profit (loss) carried forward +€21,876
up €21,876 (+26.8%), from €81,622 to €103,498
- Tax, wage and social debts +€10,428
up €10,428 (+141.3%), from €7,380 to €17,807
- Trade debts +€3,200
up €3,200 (+201.5%), from €1,588 to €4,789
- Other debts -€1,556
down €1,556 (-100.0%), from €1,556 to €0
- Gross operating margin -€27,681
down €27,681 (-46.4%), from €59,606 to €31,925
- Taxes -€5,100
down €5,100 (-41.2%), from €12,386 to €7,285
- Depreciation +€855
up €855 (+82.2%), from €1,040 to €1,895
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 | €95,087 | €128,161 | +€33,074 | +34.8% |
| Fixed assets | 21/28 | €4,327 | €8,855 | +€4,528 | +104.6% |
| Tangible fixed assets | 22/27 | €4,327 | €8,855 | +€4,528 | +104.6% |
| Furniture and vehicles | 24 | €3,360 | €2,063 | -€1,297 | -38.6% |
| Other tangible fixed assets | 26 | €967 | €6,792 | +€5,825 | +602.2% |
| Current assets | 29/58 | €90,760 | €119,307 | +€28,546 | +31.5% |
| Amounts receivable within one year | 40/41 | €1,830 | €927 | -€902 | -49.3% |
| Trade receivables | 40 | €1,043 | €0 | -€1,043 | -100.0% |
| Other amounts receivable | 41 | €787 | €927 | +€141 | +17.9% |
| Current investments | 50/53 | - | €70,000 | +€70,000 | |
| Cash at bank and in hand | 54/58 | €87,164 | €45,965 | -€41,199 | -47.3% |
| Deferred charges and accrued income | 490/1 | €1,767 | €2,415 | +€648 | +36.7% |
| Total equity and liabilities | 10/49 | €95,087 | €128,161 | +€33,074 | +34.8% |
| Equity | 10/15 | €83,622 | €105,498 | +€21,876 | +26.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €81,622 | €103,498 | +€21,876 | +26.8% |
| Amounts payable | 17/49 | €11,465 | €22,663 | +€11,198 | +97.7% |
| Amounts payable within one year | 42/48 | €10,524 | €22,596 | +€12,072 | +114.7% |
| Trade debts | 44 | €1,588 | €4,789 | +€3,200 | +201.5% |
| Suppliers | 440/4 | €1,588 | €4,789 | +€3,200 | +201.5% |
| Taxes, remuneration and social security | 45 | €7,380 | €17,807 | +€10,428 | +141.3% |
| Taxes | 450/3 | €7,380 | €17,807 | +€10,428 | +141.3% |
| Other amounts payable | 47/48 | €1,556 | €0 | -€1,556 | -100.0% |
| Accrued charges and deferred income | 492/3 | €941 | €67 | -€874 | -92.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,040 | €1,895 | +€855 | +82.2% |
| Other operating charges | 640/8 | €381 | €641 | +€260 | +68.1% |
| Gross operating margin | 9900 | €59,606 | €31,925 | -€27,681 | -46.4% |
| Operating profit (loss) | 9901 | €58,184 | €29,388 | -€28,796 | -49.5% |
| Financial income | 75/76B | €3 | €14 | +€11 | +401.4% |
| Recurring financial income | 75 | €3 | €14 | +€11 | +401.4% |
| Financial charges | 65/66B | €162 | €241 | +€79 | +48.8% |
| Recurring financial charges | 65 | €162 | €241 | +€79 | +48.8% |
| Profit (loss) for the period before taxes | 9903 | €58,025 | €29,162 | -€28,864 | -49.7% |
| Income taxes | 67/77 | €12,386 | €7,285 | -€5,100 | -41.2% |
| Profit (loss) for the period | 9904 | €45,640 | €21,876 | -€23,763 | -52.1% |
| Profit (loss) for the period to be appropriated | 9905 | €45,640 | €21,876 | -€23,763 | -52.1% |
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 12 October 2026 via checked.be.