ELLSA: 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.
ELLSA
Largest movements
- Receivables within one year -€12,341
down €12,341 (-85.8%), from €14,391 to €2,050
of which Trade receivables: -€12,440
- Stocks and contracts +€10,030
up €10,030 (+138.0%), from €7,270 to €17,300
- Intangible fixed assets +€5,400
new in 2025: €5,400
- Deferred charges and accrued income +€3,033
up €3,033 (+289.0%), from €1,049 to €4,082
- Tangible fixed assets +€2,864
up €2,864 (+15.0%), from €19,059 to €21,923
of which Furniture and vehicles: +€2,080
- Profit (loss) carried forward -€24,544
down €24,544 (-66.7%), from -€36,788 to -€61,331
- Other debts +€16,018
up €16,018 (+20.5%), from €78,319 to €94,338
- Trade debts +€9,095
up €9,095 (+289.7%), from €3,140 to €12,234
- Short-term financial debts +€7,422
new in 2025: €7,422
- Staff costs +€6,305
up €6,305 (+52.6%), from €11,985 to €18,290
- Depreciation +€2,097
up €2,097 (+68.5%), from €3,059 to €5,156
- Gross operating margin -€1,909
down €1,909 (-21.1%), from €9,031 to €7,122
- Other operating charges +€1,368
up €1,368 (+22.7%), from €6,025 to €7,393
- Financial charges +€443
up €443 (+95.7%), from €463 to €907
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 | €49,505 | €57,579 | +€8,074 | +16.3% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €25,659 | €33,923 | +€8,264 | +32.2% |
| Intangible fixed assets | 21 | - | €5,400 | +€5,400 | |
| Tangible fixed assets | 22/27 | €19,059 | €21,923 | +€2,864 | +15.0% |
| Plant, machinery and equipment | 23 | €9,571 | €10,355 | +€784 | +8.2% |
| Furniture and vehicles | 24 | €9,488 | €11,568 | +€2,080 | +21.9% |
| Financial fixed assets | 28 | €6,600 | €6,600 | = | 0.0% |
| Current assets | 29/58 | €23,846 | €23,656 | -€190 | -0.8% |
| Stocks and contracts in progress | 3 | €7,270 | €17,300 | +€10,030 | +138.0% |
| Stocks | 30/36 | €7,270 | €17,300 | +€10,030 | +138.0% |
| Amounts receivable within one year | 40/41 | €14,391 | €2,050 | -€12,341 | -85.8% |
| Trade receivables | 40 | €13,851 | €1,411 | -€12,440 | -89.8% |
| Other amounts receivable | 41 | €540 | €640 | +€100 | +18.5% |
| Cash at bank and in hand | 54/58 | €1,136 | €224 | -€912 | -80.2% |
| Deferred charges and accrued income | 490/1 | €1,049 | €4,082 | +€3,033 | +289.0% |
| Total equity and liabilities | 10/49 | €49,505 | €57,579 | +€8,074 | +16.3% |
| Equity | 10/15 | -€33,788 | -€58,331 | -€24,544 | -72.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€36,788 | -€61,331 | -€24,544 | -66.7% |
| Amounts payable | 17/49 | €83,293 | €115,911 | +€32,618 | +39.2% |
| Amounts payable within one year | 42/48 | €83,293 | €115,911 | +€32,618 | +39.2% |
| Financial debts | 43 | - | €7,422 | +€7,422 | |
| Credit institutions | 430/8 | - | €7,422 | +€7,422 | |
| Trade debts | 44 | €3,140 | €12,234 | +€9,095 | +289.7% |
| Suppliers | 440/4 | €3,140 | €12,234 | +€9,095 | +289.7% |
| Taxes, remuneration and social security | 45 | €1,834 | €1,917 | +€83 | +4.5% |
| Taxes | 450/3 | €125 | €0 | -€125 | -100.0% |
| Remuneration and social security | 454/9 | €1,709 | €1,917 | +€208 | +12.2% |
| Other amounts payable | 47/48 | €78,319 | €94,338 | +€16,018 | +20.5% |
| Turnover | 70 | - | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €0 | = | |
| Remuneration, social security and pensions | 62 | €11,985 | €18,290 | +€6,305 | +52.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,059 | €5,156 | +€2,097 | +68.5% |
| Other operating charges | 640/8 | €6,025 | €7,393 | +€1,368 | +22.7% |
| Gross operating margin | 9900 | €9,031 | €7,122 | -€1,909 | -21.1% |
| Operating profit (loss) | 9901 | -€12,039 | -€23,718 | -€11,679 | -97.0% |
| Financial income | 75/76B | €229 | €81 | -€148 | -64.8% |
| Recurring financial income | 75 | €229 | €81 | -€148 | -64.8% |
| Financial charges | 65/66B | €463 | €907 | +€443 | +95.7% |
| Recurring financial charges | 65 | €463 | €907 | +€443 | +95.7% |
| Profit (loss) for the period before taxes | 9903 | -€12,273 | -€24,544 | -€12,270 | -100.0% |
| Profit (loss) for the period | 9904 | -€12,273 | -€24,544 | -€12,270 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,273 | -€24,544 | -€12,270 | -100.0% |
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 7 October 2026 via checked.be.