ELM: what changed
ELM
Largest movements
- Receivables within one year -€131,686
down €131,686 (-69.8%), from €188,712 to €57,026
of which Trade receivables: -€114,185
- Cash +€30,944
up €30,944 (+7,603%), from €407 to €31,351
mainly Receivables within one year (+€131,686) and Net result for the year (+€37,551)
- Trade debts -€78,443
down €78,443 (-87.6%), from €89,508 to €11,065
- Profit (loss) carried forward +€37,552
up €37,552 (+67.9%), from €55,273 to €92,825
- Tax, wage and social debts -€30,679
down €30,679 (-59.0%), from €51,960 to €21,281
of which Remuneration and social security: -€37,355
- Other debts -€28,000
down €28,000 (-93.3%), from €30,000 to €2,000
- Staff costs -€100,304
down €100,304 (-70.9%), from €141,540 to €41,236
- Gross operating margin -€34,995
down €34,995 (-23.0%), from €152,041 to €117,046
- Taxes +€13,883
new in 2024: €13,883
- Depreciation +€1,997
up €1,997 (+13.1%), from €15,193 to €17,190
Change in the result, 2023 to 2024
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2023 and 2024 balance sheets and the 2024 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €231,741 | €132,170 | -€99,571 | -43.0% |
| Fixed assets | 21/28 | €42,484 | €43,794 | +€1,310 | +3.1% |
| Tangible fixed assets | 22/27 | €42,384 | €43,694 | +€1,310 | +3.1% |
| Furniture and vehicles | 24 | €42,384 | €43,694 | +€1,310 | +3.1% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €189,257 | €88,377 | -€100,880 | -53.3% |
| Amounts receivable within one year | 40/41 | €188,712 | €57,026 | -€131,686 | -69.8% |
| Trade receivables | 40 | €119,685 | €5,500 | -€114,185 | -95.4% |
| Other amounts receivable | 41 | €69,027 | €51,526 | -€17,501 | -25.4% |
| Cash at bank and in hand | 54/58 | €407 | €31,351 | +€30,944 | +7,603% |
| Deferred charges and accrued income | 490/1 | €138 | - | -€138 | |
| Total equity and liabilities | 10/49 | €231,741 | €132,170 | -€99,571 | -43.0% |
| Equity | 10/15 | €60,273 | €97,825 | +€37,552 | +62.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €55,273 | €92,825 | +€37,552 | +67.9% |
| Amounts payable | 17/49 | €171,468 | €34,346 | -€137,122 | -80.0% |
| Amounts payable within one year | 42/48 | €171,468 | €34,346 | -€137,122 | -80.0% |
| Trade debts | 44 | €89,508 | €11,065 | -€78,443 | -87.6% |
| Suppliers | 440/4 | €89,508 | €11,065 | -€78,443 | -87.6% |
| Taxes, remuneration and social security | 45 | €51,960 | €21,281 | -€30,679 | -59.0% |
| Taxes | 450/3 | €10,617 | €17,293 | +€6,676 | +62.9% |
| Remuneration and social security | 454/9 | €41,343 | €3,988 | -€37,355 | -90.4% |
| Other amounts payable | 47/48 | €30,000 | €2,000 | -€28,000 | -93.3% |
| Remuneration, social security and pensions | 62 | €141,540 | €41,236 | -€100,304 | -70.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,193 | €17,190 | +€1,997 | +13.1% |
| Other operating charges | 640/8 | €6,752 | €6,673 | -€79 | -1.2% |
| Non-recurring operating charges | 66A | €1,450 | - | -€1,450 | |
| Gross operating margin | 9900 | €152,041 | €117,046 | -€34,995 | -23.0% |
| Operating profit (loss) | 9901 | -€12,894 | €51,946 | +€64,840 | |
| Financial charges | 65/66B | €409 | €512 | +€103 | +25.1% |
| Recurring financial charges | 65 | €409 | €512 | +€103 | +25.1% |
| Profit (loss) for the period before taxes | 9903 | -€13,303 | €51,434 | +€64,737 | |
| Income taxes | 67/77 | - | €13,883 | +€13,883 | |
| Profit (loss) for the period | 9904 | -€13,303 | €37,551 | +€50,854 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,303 | €37,551 | +€50,854 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.