ELMAUD: 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.
ELMAUD
Largest movements
- Tangible fixed assets -€7,299
down €7,299 (-2.3%), from €323,982 to €316,683
- Profit (loss) carried forward -€7,140
down €7,140 (-8.9%), from -€80,515 to -€87,654
- Staff costs +€807
new in 2025: €807
- Gross operating margin -€683
down €683 (-21.0%), from €3,259 to €2,576
- Financial charges -€49
down €49 (-54.2%), from €90 to €41
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 | €323,993 | €316,853 | -€7,140 | -2.2% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €323,982 | €316,683 | -€7,299 | -2.3% |
| Tangible fixed assets | 22/27 | €323,982 | €316,683 | -€7,299 | -2.3% |
| Land and buildings | 22 | €323,982 | €316,683 | -€7,299 | -2.3% |
| Current assets | 29/58 | €11 | €170 | +€159 | +1,398% |
| Amounts receivable within one year | 40/41 | €0 | €0 | = | |
| Other amounts receivable | 41 | €0 | €0 | = | |
| Cash at bank and in hand | 54/58 | €11 | €170 | +€159 | +1,398% |
| Total equity and liabilities | 10/49 | €323,993 | €316,853 | -€7,140 | -2.2% |
| Equity | 10/15 | -€60,515 | -€67,654 | -€7,140 | -11.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€80,515 | -€87,654 | -€7,140 | -8.9% |
| Amounts payable | 17/49 | €384,508 | €384,508 | = | 0.0% |
| Amounts payable after more than one year | 17 | €375,000 | €375,000 | = | 0.0% |
| Financial debts | 170/4 | €375,000 | €375,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €9,508 | €9,508 | = | 0.0% |
| Other amounts payable | 47/48 | €9,508 | €9,508 | = | 0.0% |
| Remuneration, social security and pensions | 62 | - | €807 | +€807 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,299 | €7,299 | = | 0.0% |
| Other operating charges | 640/8 | €1,536 | €1,568 | +€32 | +2.1% |
| Gross operating margin | 9900 | €3,259 | €2,576 | -€683 | -21.0% |
| Operating profit (loss) | 9901 | -€5,576 | -€7,098 | -€1,522 | -27.3% |
| Financial charges | 65/66B | €90 | €41 | -€49 | -54.2% |
| Recurring financial charges | 65 | €90 | €41 | -€49 | -54.2% |
| Profit (loss) for the period before taxes | 9903 | -€5,666 | -€7,140 | -€1,473 | -26.0% |
| Profit (loss) for the period | 9904 | -€5,666 | -€7,140 | -€1,473 | -26.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,666 | -€7,140 | -€1,473 | -26.0% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.