Elmans: 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.
Elmans
Largest movements
- Stocks and contracts +€56,022
up €56,022 (+64.6%), from €86,730 to €142,752
- Cash -€18,309
down €18,309 (-51.6%), from €35,479 to €17,170
mainly Stocks and contracts (-€56,022) and Tax, wage and social debts (-€9,558)
- Tangible fixed assets -€5,403
down €5,403 (-17.1%), from €31,638 to €26,235
of which Furniture and vehicles: -€5,413
- Trade debts +€43,782
up €43,782 (+41.5%), from €105,499 to €149,281
- Tax, wage and social debts -€9,558
down €9,558 (-49.8%), from €19,190 to €9,632
of which Remuneration and social security: -€5,797
- Profit (loss) carried forward -€7,061
down €7,061 (-37.0%), from €19,074 to €12,013
- Debts after one year +€5,000
up €5,000 (+50.0%), from €10,000 to €15,000
- Gross operating margin -€29,243
down €29,243 (-93.3%), from €31,328 to €2,085
- Taxes -€4,500
no longer reported in 2025 (was €4,500)
- Depreciation +€3,262
up €3,262 (+76.3%), from €4,273 to €7,535
- Other operating charges -€1,994
down €1,994 (-57.9%), from €3,444 to €1,450
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 | €156,763 | €188,926 | +€32,163 | +20.5% |
| Fixed assets | 21/28 | €31,638 | €26,235 | -€5,403 | -17.1% |
| Tangible fixed assets | 22/27 | €31,638 | €26,235 | -€5,403 | -17.1% |
| Plant, machinery and equipment | 23 | €2,722 | €2,732 | +€10 | +0.4% |
| Furniture and vehicles | 24 | €28,916 | €23,503 | -€5,413 | -18.7% |
| Current assets | 29/58 | €125,125 | €162,691 | +€37,566 | +30.0% |
| Stocks and contracts in progress | 3 | €86,730 | €142,752 | +€56,022 | +64.6% |
| Stocks | 30/36 | €86,730 | €142,752 | +€56,022 | +64.6% |
| Amounts receivable within one year | 40/41 | €1,000 | €868 | -€132 | -13.2% |
| Trade receivables | 40 | €1,000 | €433 | -€568 | -56.8% |
| Other amounts receivable | 41 | - | €435 | +€435 | |
| Cash at bank and in hand | 54/58 | €35,479 | €17,170 | -€18,309 | -51.6% |
| Deferred charges and accrued income | 490/1 | €1,916 | €1,901 | -€14 | -0.8% |
| Total equity and liabilities | 10/49 | €156,763 | €188,926 | +€32,163 | +20.5% |
| Equity | 10/15 | €22,074 | €15,013 | -€7,061 | -32.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,074 | €12,013 | -€7,061 | -37.0% |
| Amounts payable | 17/49 | €134,689 | €173,913 | +€39,224 | +29.1% |
| Amounts payable after more than one year | 17 | €10,000 | €15,000 | +€5,000 | +50.0% |
| Financial debts | 170/4 | €10,000 | €15,000 | +€5,000 | +50.0% |
| Amounts payable within one year | 42/48 | €124,689 | €158,913 | +€34,224 | +27.4% |
| Trade debts | 44 | €105,499 | €149,281 | +€43,782 | +41.5% |
| Suppliers | 440/4 | €105,499 | €149,281 | +€43,782 | +41.5% |
| Taxes, remuneration and social security | 45 | €19,190 | €9,632 | -€9,558 | -49.8% |
| Taxes | 450/3 | €9,878 | €6,117 | -€3,761 | -38.1% |
| Remuneration and social security | 454/9 | €9,312 | €3,515 | -€5,797 | -62.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,273 | €7,535 | +€3,262 | +76.3% |
| Other operating charges | 640/8 | €3,444 | €1,450 | -€1,994 | -57.9% |
| Gross operating margin | 9900 | €31,328 | €2,085 | -€29,243 | -93.3% |
| Operating profit (loss) | 9901 | €23,611 | -€6,899 | -€30,511 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €37 | €162 | +€125 | +335% |
| Recurring financial charges | 65 | €37 | €162 | +€125 | +335% |
| Profit (loss) for the period before taxes | 9903 | €23,574 | -€7,061 | -€30,636 | |
| Income taxes | 67/77 | €4,500 | - | -€4,500 | |
| Profit (loss) for the period | 9904 | €19,074 | -€7,061 | -€26,136 | |
| Profit (loss) for the period to be appropriated | 9905 | €19,074 | -€7,061 | -€26,136 |
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 13 October 2026 via checked.be.