ELMABO: 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.
ELMABO
Largest movements
- Cash -€88,555
down €88,555 (-55.5%), from €159,421 to €70,866
mainly Other debts (-€129,887) and Debts after one year (-€19,497)
- Tangible fixed assets -€24,453
down €24,453 (-10.2%), from €240,208 to €215,756
of which Land and buildings: -€13,546
- Receivables within one year -€5,838
down €5,838 (-91.2%), from €6,404 to €566
of which Trade receivables: -€5,193
- Other debts -€129,887
down €129,887 (-67.9%), from €191,178 to €61,291
- Reserves +€24,822
up €24,822 (+21.2%), from €116,990 to €141,812
of which Distributable reserves: +€24,822
- Debts after one year -€19,497
down €19,497 (-37.8%), from €51,529 to €32,031
- Gross operating margin +€9,658
up €9,658 (+17.1%), from €56,348 to €66,006
- Taxes +€5,347
up €5,347 (+63.0%), from €8,487 to €13,834
- Depreciation +€1,512
up €1,512 (+6.6%), from €22,940 to €24,453
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 | €410,434 | €291,869 | -€118,565 | -28.9% |
| Fixed assets | 21/28 | €240,208 | €215,756 | -€24,453 | -10.2% |
| Tangible fixed assets | 22/27 | €240,208 | €215,756 | -€24,453 | -10.2% |
| Land and buildings | 22 | €197,929 | €184,383 | -€13,546 | -6.8% |
| Plant, machinery and equipment | 23 | €6,199 | €3,934 | -€2,265 | -36.5% |
| Furniture and vehicles | 24 | €36,080 | €27,438 | -€8,642 | -24.0% |
| Current assets | 29/58 | €170,225 | €76,113 | -€94,112 | -55.3% |
| Stocks and contracts in progress | 3 | €4,401 | €4,681 | +€280 | +6.4% |
| Stocks | 30/36 | €4,401 | €4,681 | +€280 | +6.4% |
| Amounts receivable within one year | 40/41 | €6,404 | €566 | -€5,838 | -91.2% |
| Trade receivables | 40 | €5,759 | €566 | -€5,193 | -90.2% |
| Other amounts receivable | 41 | €645 | - | -€645 | |
| Cash at bank and in hand | 54/58 | €159,421 | €70,866 | -€88,555 | -55.5% |
| Total equity and liabilities | 10/49 | €410,434 | €291,869 | -€118,565 | -28.9% |
| Equity | 10/15 | €137,450 | €162,272 | +€24,822 | +18.1% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €116,990 | €141,812 | +€24,822 | +21.2% |
| Tax-exempt reserves | 132 | €21,250 | €21,250 | = | 0.0% |
| Distributable reserves | 133 | €95,740 | €120,562 | +€24,822 | +25.9% |
| Amounts payable | 17/49 | €272,983 | €129,596 | -€143,387 | -52.5% |
| Amounts payable after more than one year | 17 | €51,529 | €32,031 | -€19,497 | -37.8% |
| Financial debts | 170/4 | €51,529 | €32,031 | -€19,497 | -37.8% |
| Amounts payable within one year | 42/48 | €221,455 | €97,565 | -€123,890 | -55.9% |
| Current portion of amounts payable after more than one year | 42 | €18,825 | €19,838 | +€1,014 | +5.4% |
| Trade debts | 44 | €1,367 | €2,366 | +€999 | +73.1% |
| Suppliers | 440/4 | €1,367 | €2,366 | +€999 | +73.1% |
| Taxes, remuneration and social security | 45 | €10,085 | €14,070 | +€3,985 | +39.5% |
| Taxes | 450/3 | €10,085 | €14,070 | +€3,985 | +39.5% |
| Other amounts payable | 47/48 | €191,178 | €61,291 | -€129,887 | -67.9% |
| Non-recurring operating income | 76A | €5,282 | - | -€5,282 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,940 | €24,453 | +€1,512 | +6.6% |
| Other operating charges | 640/8 | €1,717 | €1,080 | -€637 | -37.1% |
| Gross operating margin | 9900 | €56,348 | €66,006 | +€9,658 | +17.1% |
| Operating profit (loss) | 9901 | €31,691 | €40,473 | +€8,782 | +27.7% |
| Financial income | 75/76B | €170 | €685 | +€516 | +303.4% |
| Recurring financial income | 75 | €170 | €685 | +€516 | +303.4% |
| Financial charges | 65/66B | €2,990 | €2,502 | -€488 | -16.3% |
| Recurring financial charges | 65 | €2,990 | €2,502 | -€488 | -16.3% |
| Profit (loss) for the period before taxes | 9903 | €28,870 | €38,656 | +€9,786 | +33.9% |
| Income taxes | 67/77 | €8,487 | €13,834 | +€5,347 | +63.0% |
| Profit (loss) for the period | 9904 | €20,384 | €24,822 | +€4,438 | +21.8% |
| Profit (loss) for the period to be appropriated | 9905 | €20,384 | €24,822 | +€4,438 | +21.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.