ELMA FINANCE: 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 FINANCE
Largest movements
- Cash +€74,594
up €74,594 (+3,715%), from €2,008 to €76,602
mainly Net result for the year (+€65,360) and Receivables within one year (+€16,155)
- Receivables within one year -€16,155
down €16,155 (-66.8%), from €24,200 to €8,045
of which Trade receivables: -€16,938
- Deferred charges and accrued income +€4,198
new in 2025: €4,198
- Profit (loss) carried forward +€64,527
up €64,527 (+476%), from €13,568 to €78,095
- Trade debts -€930
down €930 (-87.6%), from €1,062 to €132
- Gross operating margin +€66,915
up €66,915 (+368%), from €18,183 to €85,098
- Taxes +€13,221
up €13,221 (+355%), from €3,727 to €16,947
- Financial charges +€2,261
up €2,261 (+33,595%), from €7 to €2,268
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.
Derived cash bridge
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 | €27,010 | €90,050 | +€63,039 | +233% |
| Fixed assets | 21/28 | €803 | €1,205 | +€402 | +50.1% |
| Tangible fixed assets | 22/27 | €803 | €1,205 | +€402 | +50.1% |
| Furniture and vehicles | 24 | €803 | €1,205 | +€402 | +50.1% |
| Current assets | 29/58 | €26,208 | €88,845 | +€62,637 | +239% |
| Amounts receivable within one year | 40/41 | €24,200 | €8,045 | -€16,155 | -66.8% |
| Trade receivables | 40 | €24,200 | €7,262 | -€16,938 | -70.0% |
| Other amounts receivable | 41 | - | €783 | +€783 | |
| Cash at bank and in hand | 54/58 | €2,008 | €76,602 | +€74,594 | +3,715% |
| Deferred charges and accrued income | 490/1 | - | €4,198 | +€4,198 | |
| Total equity and liabilities | 10/49 | €27,010 | €90,050 | +€63,039 | +233% |
| Equity | 10/15 | €15,568 | €80,095 | +€64,527 | +414% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,568 | €78,095 | +€64,527 | +476% |
| Amounts payable | 17/49 | €11,443 | €9,955 | -€1,488 | -13.0% |
| Amounts payable within one year | 42/48 | €11,443 | €9,955 | -€1,488 | -13.0% |
| Trade debts | 44 | €1,062 | €132 | -€930 | -87.6% |
| Suppliers | 440/4 | €1,062 | €132 | -€930 | -87.6% |
| Taxes, remuneration and social security | 45 | €9,277 | €8,690 | -€587 | -6.3% |
| Taxes | 450/3 | €8,522 | €8,690 | +€168 | +2.0% |
| Remuneration and social security | 454/9 | €755 | - | -€755 | |
| Other amounts payable | 47/48 | €1,104 | €1,133 | +€29 | +2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23 | €523 | +€500 | +2,179% |
| Gross operating margin | 9900 | €18,183 | €85,098 | +€66,915 | +368% |
| Operating profit (loss) | 9901 | €18,160 | €84,575 | +€66,415 | +366% |
| Financial charges | 65/66B | €7 | €2,268 | +€2,261 | +33,595% |
| Recurring financial charges | 65 | €7 | €2,268 | +€2,261 | +33,595% |
| Profit (loss) for the period before taxes | 9903 | €18,153 | €82,307 | +€64,154 | +353% |
| Income taxes | 67/77 | €3,727 | €16,947 | +€13,221 | +355% |
| Profit (loss) for the period | 9904 | €14,427 | €65,360 | +€50,933 | +353% |
| Profit (loss) for the period to be appropriated | 9905 | €14,427 | €65,360 | +€50,933 | +353% |
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 21 October 2026 via checked.be.