ELMAHI GROUP: 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.
ELMAHI GROUP
Largest movements
- Receivables within one year -€20,926
down €20,926 (-68.6%), from €30,508 to €9,583
of which Trade receivables: -€22,848
- Tangible fixed assets -€6,842
down €6,842 (-52.1%), from €13,120 to €6,279
of which Furniture and vehicles: -€7,675
- Cash +€2,608
up €2,608 (+31.4%), from €8,294 to €10,902
mainly Receivables within one year (+€20,926) and Depreciation (+€8,128)
- Other debts -€13,768
down €13,768 (-99.3%), from €13,866 to €98
- Profit (loss) carried forward -€8,798
down €8,798 (-75.5%), from €11,660 to €2,862
- Tax, wage and social debts -€4,907
down €4,907 (-41.5%), from €11,827 to €6,920
of which Taxes: -€2,499
- Trade debts +€2,314
up €2,314 (+99.7%), from €2,320 to €4,634
- Gross operating margin -€19,146
down €19,146 (-96.0%), from €19,950 to €804
- Taxes -€1,924
no longer reported in 2025 (was €1,924)
- Other operating charges -€1,300
down €1,300 (-54.3%), from €2,393 to €1,093
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 | €54,673 | €29,513 | -€25,160 | -46.0% |
| Fixed assets | 21/28 | €15,870 | €9,029 | -€6,842 | -43.1% |
| Tangible fixed assets | 22/27 | €13,120 | €6,279 | -€6,842 | -52.1% |
| Plant, machinery and equipment | 23 | €421 | €1,255 | +€833 | +197.8% |
| Furniture and vehicles | 24 | €12,699 | €5,024 | -€7,675 | -60.4% |
| Financial fixed assets | 28 | €2,750 | €2,750 | = | 0.0% |
| Current assets | 29/58 | €38,803 | €20,484 | -€18,318 | -47.2% |
| Amounts receivable within one year | 40/41 | €30,508 | €9,583 | -€20,926 | -68.6% |
| Trade receivables | 40 | €30,508 | €7,660 | -€22,848 | -74.9% |
| Other amounts receivable | 41 | - | €1,923 | +€1,923 | |
| Cash at bank and in hand | 54/58 | €8,294 | €10,902 | +€2,608 | +31.4% |
| Total equity and liabilities | 10/49 | €54,673 | €29,513 | -€25,160 | -46.0% |
| Equity | 10/15 | €26,660 | €17,862 | -€8,798 | -33.0% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,660 | €2,862 | -€8,798 | -75.5% |
| Amounts payable | 17/49 | €28,013 | €11,652 | -€16,362 | -58.4% |
| Amounts payable within one year | 42/48 | €28,013 | €11,652 | -€16,362 | -58.4% |
| Trade debts | 44 | €2,320 | €4,634 | +€2,314 | +99.7% |
| Suppliers | 440/4 | €2,320 | €4,634 | +€2,314 | +99.7% |
| Taxes, remuneration and social security | 45 | €11,827 | €6,920 | -€4,907 | -41.5% |
| Taxes | 450/3 | €6,827 | €4,329 | -€2,499 | -36.6% |
| Remuneration and social security | 454/9 | €5,000 | €2,591 | -€2,409 | -48.2% |
| Other amounts payable | 47/48 | €13,866 | €98 | -€13,768 | -99.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,089 | €8,128 | +€39 | +0.5% |
| Other operating charges | 640/8 | €2,393 | €1,093 | -€1,300 | -54.3% |
| Gross operating margin | 9900 | €19,950 | €804 | -€19,146 | -96.0% |
| Operating profit (loss) | 9901 | €9,468 | -€8,416 | -€17,885 | |
| Financial charges | 65/66B | €462 | €381 | -€81 | -17.5% |
| Recurring financial charges | 65 | €462 | €381 | -€81 | -17.5% |
| Profit (loss) for the period before taxes | 9903 | €9,006 | -€8,798 | -€17,804 | |
| Income taxes | 67/77 | €1,924 | - | -€1,924 | |
| Profit (loss) for the period | 9904 | €7,083 | -€8,798 | -€15,880 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,083 | -€8,798 | -€15,880 |
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 8 October 2026 via checked.be.