ELMA: 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.
ELMA
Largest movements
- Cash +€42,911
up €42,911 (+2889.6%), from €1,485 to €44,396
mainly Net result for the year (+€73,010) and Depreciation (+€15,024)
- Tangible fixed assets -€14,694
down €14,694 (-3.5%), from €416,487 to €401,793
of which Land and buildings: -€14,315
- Receivables within one year +€13,097
new in 2025: €13,097
- Reserves +€73,010
up €73,010 (+36.6%), from €199,542 to €272,552
- Debts after one year -€21,000
down €21,000 (-16.7%), from €126,000 to €105,000
- Other debts -€6,624
down €6,624 (-91.1%), from €7,275 to €651
- Gross operating margin +€49,903
up €49,903 (+68.2%), from €73,200 to €123,103
- Taxes +€12,934
up €12,934 (+90.5%), from €14,286 to €27,220
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 | €417,972 | €462,439 | +€44,467 | +10.6% |
| Fixed assets | 21/28 | €416,487 | €401,793 | -€14,694 | -3.5% |
| Tangible fixed assets | 22/27 | €416,487 | €401,793 | -€14,694 | -3.5% |
| Land and buildings | 22 | €415,442 | €401,127 | -€14,315 | -3.4% |
| Furniture and vehicles | 24 | €1,045 | €666 | -€379 | -36.3% |
| Current assets | 29/58 | €1,485 | €60,646 | +€59,161 | +3983.9% |
| Amounts receivable within one year | 40/41 | - | €13,097 | +€13,097 | |
| Other amounts receivable | 41 | - | €13,097 | +€13,097 | |
| Cash at bank and in hand | 54/58 | €1,485 | €44,396 | +€42,911 | +2889.6% |
| Deferred charges and accrued income | 490/1 | - | €3,152 | +€3,152 | |
| Total equity and liabilities | 10/49 | €417,972 | €462,439 | +€44,467 | +10.6% |
| Equity | 10/15 | €254,695 | €327,705 | +€73,010 | +28.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €199,542 | €272,552 | +€73,010 | +36.6% |
| Distributable reserves | 133 | €199,542 | €272,552 | +€73,010 | +36.6% |
| Profit (loss) carried forward | 14 | €48,953 | €48,953 | -€0 | 0.0% |
| Amounts payable | 17/49 | €163,277 | €134,734 | -€28,543 | -17.5% |
| Amounts payable after more than one year | 17 | €126,000 | €105,000 | -€21,000 | -16.7% |
| Financial debts | 170/4 | €126,000 | €105,000 | -€21,000 | -16.7% |
| Amounts payable within one year | 42/48 | €37,277 | €29,734 | -€7,543 | -20.2% |
| Current portion of amounts payable after more than one year | 42 | €21,000 | €21,000 | = | 0.0% |
| Trade debts | 44 | €867 | €782 | -€85 | -9.8% |
| Suppliers | 440/4 | €867 | €782 | -€85 | -9.8% |
| Taxes, remuneration and social security | 45 | €8,135 | €7,301 | -€834 | -10.3% |
| Taxes | 450/3 | €5,274 | €7,301 | +€2,027 | +38.4% |
| Remuneration and social security | 454/9 | €2,861 | - | -€2,861 | |
| Other amounts payable | 47/48 | €7,275 | €651 | -€6,624 | -91.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,942 | €15,024 | -€918 | -5.8% |
| Other operating charges | 640/8 | €3,689 | €3,692 | +€3 | +0.1% |
| Gross operating margin | 9900 | €73,200 | €123,103 | +€49,903 | +68.2% |
| Operating profit (loss) | 9901 | €53,569 | €104,387 | +€50,818 | +94.9% |
| Financial income | 75/76B | €76 | €104 | +€28 | +37.0% |
| Recurring financial income | 75 | €76 | €104 | +€28 | +37.0% |
| Financial charges | 65/66B | €4,947 | €4,261 | -€686 | -13.9% |
| Recurring financial charges | 65 | €4,947 | €4,261 | -€686 | -13.9% |
| Profit (loss) for the period before taxes | 9903 | €48,698 | €100,230 | +€51,532 | +105.8% |
| Income taxes | 67/77 | €14,286 | €27,220 | +€12,934 | +90.5% |
| Profit (loss) for the period | 9904 | €34,412 | €73,010 | +€38,598 | +112.2% |
| Profit (loss) for the period to be appropriated | 9905 | €34,412 | €73,010 | +€38,598 | +112.2% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.