ELMAT 2: 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.
ELMAT 2
Largest movements
- Receivables within one year -€364,234
down €364,234 (-99.3%), from €366,914 to €2,680
- Tangible fixed assets +€37,031
up €37,031 (+10.1%), from €366,216 to €403,248
of which Assets under construction and advance payments: +€37,031
- Other debts -€330,356
down €330,356 (-34.3%), from €962,286 to €631,930
- Profit (loss) carried forward -€17,688
down €17,688 (-18.8%), from -€94,152 to -€111,840
- Trade debts +€15,254
up €15,254 (+9338.1%), from €163 to €15,417
- Financial charges -€6,216
down €6,216 (-24.0%), from €25,901 to €19,684
- Financial income -€4,853
down €4,853 (-67.2%), from €7,220 to €2,367
- Gross operating margin -€1,268
down €1,268 (-62.3%), from €2,036 to €768
- Other operating charges +€33
up €33 (+3.0%), from €1,106 to €1,139
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 | €918,298 | €585,507 | -€332,790 | -36.2% |
| Fixed assets | 21/28 | €366,216 | €403,748 | +€37,531 | +10.2% |
| Tangible fixed assets | 22/27 | €366,216 | €403,248 | +€37,031 | +10.1% |
| Land and buildings | 22 | €338,880 | €338,880 | = | 0.0% |
| Assets under construction and advance payments | 27 | €27,336 | €64,368 | +€37,031 | +135.5% |
| Financial fixed assets | 28 | - | €500 | +€500 | |
| Current assets | 29/58 | €552,081 | €181,760 | -€370,322 | -67.1% |
| Amounts receivable within one year | 40/41 | €366,914 | €2,680 | -€364,234 | -99.3% |
| Other amounts receivable | 41 | €366,914 | €2,680 | -€364,234 | -99.3% |
| Cash at bank and in hand | 54/58 | €185,167 | €179,079 | -€6,088 | -3.3% |
| Total equity and liabilities | 10/49 | €918,298 | €585,507 | -€332,790 | -36.2% |
| Equity | 10/15 | -€44,152 | -€61,840 | -€17,688 | -40.1% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€94,152 | -€111,840 | -€17,688 | -18.8% |
| Amounts payable | 17/49 | €962,450 | €647,348 | -€315,102 | -32.7% |
| Amounts payable within one year | 42/48 | €962,450 | €647,348 | -€315,102 | -32.7% |
| Trade debts | 44 | €163 | €15,417 | +€15,254 | +9338.1% |
| Suppliers | 440/4 | €163 | €15,417 | +€15,254 | +9338.1% |
| Other amounts payable | 47/48 | €962,286 | €631,930 | -€330,356 | -34.3% |
| Other operating charges | 640/8 | €1,106 | €1,139 | +€33 | +3.0% |
| Gross operating margin | 9900 | €2,036 | €768 | -€1,268 | -62.3% |
| Operating profit (loss) | 9901 | €930 | -€371 | -€1,301 | |
| Financial income | 75/76B | €7,220 | €2,367 | -€4,853 | -67.2% |
| Recurring financial income | 75 | €7,220 | €2,367 | -€4,853 | -67.2% |
| Financial charges | 65/66B | €25,901 | €19,684 | -€6,216 | -24.0% |
| Recurring financial charges | 65 | €25,901 | €19,684 | -€6,216 | -24.0% |
| Profit (loss) for the period before taxes | 9903 | -€17,751 | -€17,688 | +€62 | +0.4% |
| Profit (loss) for the period | 9904 | -€17,751 | -€17,688 | +€62 | +0.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€17,751 | -€17,688 | +€62 | +0.4% |
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 10 October 2026 via checked.be.