ELMATI: 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.
ELMATI
Largest movements
- Cash -€27,929
down €27,929 (-74.0%), from €37,767 to €9,837
mainly Investment in fixed assets (net) (-€37,876) and Debts after one year (-€28,089)
- Tangible fixed assets -€26,701
down €26,701 (-8.5%), from €315,299 to €288,598
- Debts after one year -€28,089
down €28,089 (-10.4%), from €270,807 to €242,718
- Profit (loss) carried forward -€19,060
down €19,060 (-23.6%), from -€80,749 to -€99,809
- Tax, wage and social debts -€6,272
down €6,272 (-48.4%), from €12,971 to €6,699
of which Taxes: -€6,304
- Gross operating margin -€19,539
down €19,539 (-22.8%), from €85,654 to €66,114
- Depreciation +€10,109
up €10,109 (+18.6%), from €54,468 to €64,577
- Financial charges -€1,849
down €1,849 (-10.4%), from €17,735 to €15,886
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 | €371,728 | €322,242 | -€49,486 | -13.3% |
| Fixed assets | 21/28 | €315,299 | €288,598 | -€26,701 | -8.5% |
| Tangible fixed assets | 22/27 | €315,299 | €288,598 | -€26,701 | -8.5% |
| Land and buildings | 22 | €215,185 | €205,662 | -€9,523 | -4.4% |
| Plant, machinery and equipment | 23 | €2,008 | €1,415 | -€593 | -29.5% |
| Furniture and vehicles | 24 | €75,456 | €63,421 | -€12,035 | -15.9% |
| Other tangible fixed assets | 26 | €22,650 | €18,100 | -€4,550 | -20.1% |
| Current assets | 29/58 | €56,429 | €33,644 | -€22,785 | -40.4% |
| Amounts receivable within one year | 40/41 | €16,890 | €19,395 | +€2,505 | +14.8% |
| Trade receivables | 40 | €16,890 | €18,498 | +€1,608 | +9.5% |
| Other amounts receivable | 41 | - | €897 | +€897 | |
| Cash at bank and in hand | 54/58 | €37,767 | €9,837 | -€27,929 | -74.0% |
| Deferred charges and accrued income | 490/1 | €1,772 | €4,412 | +€2,639 | +148.9% |
| Total equity and liabilities | 10/49 | €371,728 | €322,242 | -€49,486 | -13.3% |
| Equity | 10/15 | €53,934 | €34,874 | -€19,060 | -35.3% |
| Contributions | 10/11 | €118,600 | €118,600 | = | 0.0% |
| Reserves | 13 | €16,082 | €16,082 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,600 | €3,600 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,600 | €3,600 | = | 0.0% |
| Distributable reserves | 133 | €12,482 | €12,482 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€80,749 | -€99,809 | -€19,060 | -23.6% |
| Amounts payable | 17/49 | €317,794 | €287,368 | -€30,426 | -9.6% |
| Amounts payable after more than one year | 17 | €270,807 | €242,718 | -€28,089 | -10.4% |
| Financial debts | 170/4 | €270,807 | €242,718 | -€28,089 | -10.4% |
| Amounts payable within one year | 42/48 | €39,838 | €38,003 | -€1,835 | -4.6% |
| Current portion of amounts payable after more than one year | 42 | €26,836 | €27,946 | +€1,110 | +4.1% |
| Trade debts | 44 | €30 | €3,358 | +€3,327 | +10938.2% |
| Suppliers | 440/4 | €30 | €3,358 | +€3,327 | +10938.2% |
| Taxes, remuneration and social security | 45 | €12,971 | €6,699 | -€6,272 | -48.4% |
| Taxes | 450/3 | €9,329 | €3,026 | -€6,304 | -67.6% |
| Remuneration and social security | 454/9 | €3,641 | €3,673 | +€32 | +0.9% |
| Accrued charges and deferred income | 492/3 | €7,149 | €6,647 | -€502 | -7.0% |
| Non-recurring operating income | 76A | €16,000 | - | -€16,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,468 | €64,577 | +€10,109 | +18.6% |
| Other operating charges | 640/8 | €2,130 | €2,625 | +€495 | +23.2% |
| Non-recurring operating charges | 66A | €923 | €2,043 | +€1,120 | +121.4% |
| Gross operating margin | 9900 | €85,654 | €66,114 | -€19,539 | -22.8% |
| Operating profit (loss) | 9901 | €28,133 | -€3,130 | -€31,263 | |
| Financial income | 75/76B | €396 | €190 | -€206 | -52.0% |
| Recurring financial income | 75 | €396 | €190 | -€206 | -52.0% |
| Financial charges | 65/66B | €17,735 | €15,886 | -€1,849 | -10.4% |
| Recurring financial charges | 65 | €17,735 | €15,886 | -€1,849 | -10.4% |
| Profit (loss) for the period before taxes | 9903 | €10,794 | -€18,826 | -€29,620 | |
| Income taxes | 67/77 | €182 | €234 | +€52 | +28.6% |
| Profit (loss) for the period | 9904 | €10,613 | -€19,060 | -€29,672 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,613 | -€19,060 | -€29,672 |
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 5 October 2026 via checked.be.