ELMADA: 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.
ELMADA
Largest movements
- Receivables after one year +€23,712
new in 2025: €23,712
- Cash +€20,258
up €20,258 (+22.5%), from €89,867 to €110,125
mainly Other debts (+€86,223) and Net result for the year (+€53,534)
- Receivables within one year -€14,107
down €14,107 (-48.6%), from €29,057 to €14,950
of which Trade receivables: -€14,646
- Other debts +€86,223
up €86,223 (+255.3%), from €33,777 to €120,000
- Profit (loss) carried forward -€66,466
down €66,466 (-79.6%), from €83,515 to €17,049
- Tax, wage and social debts +€11,683
up €11,683 (+150.2%), from €7,779 to €19,462
- Gross operating margin +€2,360
up €2,360 (+3.1%), from €75,321 to €77,681
- Taxes +€1,683
up €1,683 (+11.6%), from €14,494 to €16,177
- Depreciation +€1,044
up €1,044 (+16.3%), from €6,408 to €7,452
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 | €147,221 | €177,954 | +€30,733 | +20.9% |
| Fixed assets | 21/28 | €25,251 | €25,257 | +€6 | 0.0% |
| Tangible fixed assets | 22/27 | €25,251 | €25,257 | +€6 | 0.0% |
| Furniture and vehicles | 24 | €25,251 | €25,257 | +€6 | 0.0% |
| Current assets | 29/58 | €121,970 | €152,697 | +€30,727 | +25.2% |
| Amounts receivable after more than one year | 29 | - | €23,712 | +€23,712 | |
| Other amounts receivable | 291 | - | €23,712 | +€23,712 | |
| Amounts receivable within one year | 40/41 | €29,057 | €14,950 | -€14,107 | -48.6% |
| Trade receivables | 40 | €28,946 | €14,300 | -€14,646 | -50.6% |
| Other amounts receivable | 41 | €111 | €650 | +€539 | +484.1% |
| Cash at bank and in hand | 54/58 | €89,867 | €110,125 | +€20,258 | +22.5% |
| Deferred charges and accrued income | 490/1 | €3,046 | €3,911 | +€865 | +28.4% |
| Total equity and liabilities | 10/49 | €147,221 | €177,954 | +€30,733 | +20.9% |
| Equity | 10/15 | €103,975 | €37,509 | -€66,466 | -63.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €83,515 | €17,049 | -€66,466 | -79.6% |
| Amounts payable | 17/49 | €43,246 | €140,445 | +€97,199 | +224.8% |
| Amounts payable within one year | 42/48 | €43,132 | €140,436 | +€97,305 | +225.6% |
| Trade debts | 44 | €1,576 | €974 | -€601 | -38.2% |
| Suppliers | 440/4 | €1,576 | €974 | -€601 | -38.2% |
| Taxes, remuneration and social security | 45 | €7,779 | €19,462 | +€11,683 | +150.2% |
| Taxes | 450/3 | €7,779 | €19,462 | +€11,683 | +150.2% |
| Other amounts payable | 47/48 | €33,777 | €120,000 | +€86,223 | +255.3% |
| Accrued charges and deferred income | 492/3 | €114 | €9 | -€106 | -92.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,408 | €7,452 | +€1,044 | +16.3% |
| Other operating charges | 640/8 | €1,081 | €1,026 | -€55 | -5.1% |
| Gross operating margin | 9900 | €75,321 | €77,681 | +€2,360 | +3.1% |
| Operating profit (loss) | 9901 | €67,831 | €69,203 | +€1,372 | +2.0% |
| Financial income | 75/76B | - | €578 | +€578 | |
| Recurring financial income | 75 | - | €578 | +€578 | |
| Financial charges | 65/66B | €84 | €70 | -€14 | -16.2% |
| Recurring financial charges | 65 | €84 | €70 | -€14 | -16.2% |
| Profit (loss) for the period before taxes | 9903 | €67,748 | €69,711 | +€1,964 | +2.9% |
| Income taxes | 67/77 | €14,494 | €16,177 | +€1,683 | +11.6% |
| Profit (loss) for the period | 9904 | €53,254 | €53,534 | +€281 | +0.5% |
| Profit (loss) for the period to be appropriated | 9905 | €53,254 | €53,534 | +€281 | +0.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.