ELMACO: 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.
ELMACO
Largest movements
- Current investments -€800,000
no longer reported in 2025 (was €800,000)
- Receivables within one year +€748,789
up €748,789 (+11939.2%), from €6,272 to €755,060
of which Other amounts receivable: +€750,000
- Cash +€44,262
up €44,262 (+26.6%), from €166,426 to €210,689
mainly Current investments (+€800,000) and Net result for the year (+€7,057)
- Deferred charges and accrued income +€18,407
up €18,407 (+744.5%), from €2,473 to €20,879
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€307,781
down €307,781, from €295,718 to -€12,062
- Taxes -€51,905
down €51,905 (-93.9%), from €55,302 to €3,397
- Financial income +€11,849
up €11,849 (+71.6%), from €16,553 to €28,402
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 | €1,008,904 | €1,018,705 | +€9,801 | +1.0% |
| Fixed assets | 21/28 | €33,733 | €32,077 | -€1,656 | -4.9% |
| Tangible fixed assets | 22/27 | €33,733 | €32,077 | -€1,656 | -4.9% |
| Land and buildings | 22 | €33,733 | €32,077 | -€1,656 | -4.9% |
| Current assets | 29/58 | €975,171 | €986,629 | +€11,458 | +1.2% |
| Amounts receivable within one year | 40/41 | €6,272 | €755,060 | +€748,789 | +11939.2% |
| Trade receivables | 40 | €5,186 | €3,975 | -€1,211 | -23.4% |
| Other amounts receivable | 41 | €1,086 | €751,086 | +€750,000 | +69086.2% |
| Current investments | 50/53 | €800,000 | - | -€800,000 | |
| Cash at bank and in hand | 54/58 | €166,426 | €210,689 | +€44,262 | +26.6% |
| Deferred charges and accrued income | 490/1 | €2,473 | €20,879 | +€18,407 | +744.5% |
| Total equity and liabilities | 10/49 | €1,008,904 | €1,018,705 | +€9,801 | +1.0% |
| Equity | 10/15 | €954,152 | €961,208 | +€7,057 | +0.7% |
| Contributions | 10/11 | €372,000 | €372,000 | = | 0.0% |
| Capital | 10 | €372,000 | €372,000 | = | 0.0% |
| Issued capital | 100 | €372,000 | €372,000 | = | 0.0% |
| Reserves | 13 | €582,152 | €589,208 | +€7,057 | +1.2% |
| Non-distributable reserves | 130/1 | €29,116 | €29,468 | +€353 | +1.2% |
| Legal reserve | 130 | €29,116 | €29,468 | +€353 | +1.2% |
| Distributable reserves | 133 | €553,036 | €559,740 | +€6,704 | +1.2% |
| Amounts payable | 17/49 | €54,752 | €57,497 | +€2,745 | +5.0% |
| Amounts payable within one year | 42/48 | €54,752 | €57,089 | +€2,337 | +4.3% |
| Trade debts | 44 | €2,543 | €3,931 | +€1,388 | +54.6% |
| Suppliers | 440/4 | €2,543 | €3,931 | +€1,388 | +54.6% |
| Taxes, remuneration and social security | 45 | €49,097 | €50,045 | +€948 | +1.9% |
| Taxes | 450/3 | €49,097 | €50,045 | +€948 | +1.9% |
| Other amounts payable | 47/48 | €3,113 | €3,113 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €408 | +€408 | |
| Non-recurring operating income | 76A | €312,358 | - | -€312,358 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,901 | €1,656 | -€245 | -12.9% |
| Other operating charges | 640/8 | €3,485 | €4,009 | +€524 | +15.0% |
| Gross operating margin | 9900 | €295,718 | -€12,062 | -€307,781 | |
| Operating profit (loss) | 9901 | €290,332 | -€17,727 | -€308,060 | |
| Financial income | 75/76B | €16,553 | €28,402 | +€11,849 | +71.6% |
| Recurring financial income | 75 | €16,553 | €28,402 | +€11,849 | +71.6% |
| Financial charges | 65/66B | €1,176 | €221 | -€956 | -81.2% |
| Recurring financial charges | 65 | €1,176 | €221 | -€956 | -81.2% |
| Profit (loss) for the period before taxes | 9903 | €305,709 | €10,454 | -€295,255 | -96.6% |
| Income taxes | 67/77 | €55,302 | €3,397 | -€51,905 | -93.9% |
| Profit (loss) for the period | 9904 | €250,408 | €7,057 | -€243,351 | -97.2% |
| Profit (loss) for the period to be appropriated | 9905 | €250,408 | €7,057 | -€243,351 | -97.2% |
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 28 September 2026 via checked.be.