ELMCO: 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.
ELMCO
Largest movements
- Receivables within one year -€38,497
down €38,497 (-48.8%), from €78,844 to €40,348
of which Other amounts receivable: -€34,867
- Cash +€34,802
up €34,802 (+104%), from €33,556 to €68,358
mainly Net result for the year (+€45,659) and Receivables within one year (+€38,497)
- Tangible fixed assets +€21,738
up €21,738 (+13.5%), from €161,417 to €183,155
of which Furniture and vehicles: +€41,021
- Deferred charges and accrued income -€6,642
down €6,642 (-51.8%), from €12,827 to €6,184
- Reserves -€14,006
down €14,006 (-8.3%), from €168,317 to €154,311
of which Distributable reserves: -€14,006
- Current portion of long-term debt +€12,530
up €12,530 (+109%), from €11,527 to €24,057
- Other debts +€7,129
new in 2025: €7,129
- Debts after one year +€6,835
up €6,835 (+7.6%), from €89,518 to €96,353
- Gross operating margin +€11,200
up €11,200 (+14.7%), from €76,184 to €87,384
- Depreciation +€4,614
up €4,614 (+40.2%), from €11,466 to €16,080
- Financial charges +€2,847
up €2,847 (+85.0%), from €3,348 to €6,196
- Financial income -€1,612
down €1,612 (-100%), from €1,612 to €0
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 | €286,643 | €300,358 | +€13,714 | +4.8% |
| Fixed assets | 21/28 | €161,417 | €183,155 | +€21,738 | +13.5% |
| Tangible fixed assets | 22/27 | €161,417 | €183,155 | +€21,738 | +13.5% |
| Land and buildings | 22 | €145,143 | €140,598 | -€4,545 | -3.1% |
| Plant, machinery and equipment | 23 | €1,868 | €532 | -€1,336 | -71.5% |
| Furniture and vehicles | 24 | €1,004 | €42,025 | +€41,021 | +4,085% |
| Leasing and similar rights | 25 | €13,401 | €0 | -€13,401 | -100% |
| Current assets | 29/58 | €125,227 | €117,203 | -€8,024 | -6.4% |
| Stocks and contracts in progress | 3 | - | €2,313 | +€2,313 | |
| Stocks | 30/36 | - | €2,313 | +€2,313 | |
| Amounts receivable within one year | 40/41 | €78,844 | €40,348 | -€38,497 | -48.8% |
| Trade receivables | 40 | €23,522 | €19,892 | -€3,630 | -15.4% |
| Other amounts receivable | 41 | €55,322 | €20,456 | -€34,867 | -63.0% |
| Cash at bank and in hand | 54/58 | €33,556 | €68,358 | +€34,802 | +104% |
| Deferred charges and accrued income | 490/1 | €12,827 | €6,184 | -€6,642 | -51.8% |
| Total equity and liabilities | 10/49 | €286,643 | €300,358 | +€13,714 | +4.8% |
| Equity | 10/15 | €174,517 | €160,511 | -€14,006 | -8.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €168,317 | €154,311 | -€14,006 | -8.3% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €166,462 | €152,456 | -€14,006 | -8.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €112,126 | €139,847 | +€27,721 | +24.7% |
| Amounts payable after more than one year | 17 | €89,518 | €96,353 | +€6,835 | +7.6% |
| Financial debts | 170/4 | €89,518 | €96,353 | +€6,835 | +7.6% |
| Amounts payable within one year | 42/48 | €21,067 | €41,952 | +€20,885 | +99.1% |
| Current portion of amounts payable after more than one year | 42 | €11,527 | €24,057 | +€12,530 | +109% |
| Trade debts | 44 | €3,965 | €2,378 | -€1,587 | -40.0% |
| Suppliers | 440/4 | €3,965 | €2,378 | -€1,587 | -40.0% |
| Taxes, remuneration and social security | 45 | €5,575 | €8,389 | +€2,814 | +50.5% |
| Taxes | 450/3 | €5,575 | €8,389 | +€2,814 | +50.5% |
| Other amounts payable | 47/48 | - | €7,129 | +€7,129 | |
| Accrued charges and deferred income | 492/3 | €1,542 | €1,542 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,466 | €16,080 | +€4,614 | +40.2% |
| Other operating charges | 640/8 | €1,516 | €1,184 | -€332 | -21.9% |
| Gross operating margin | 9900 | €76,184 | €87,384 | +€11,200 | +14.7% |
| Operating profit (loss) | 9901 | €63,202 | €70,119 | +€6,917 | +10.9% |
| Financial income | 75/76B | €1,612 | €0 | -€1,612 | -100% |
| Recurring financial income | 75 | €1,612 | €0 | -€1,612 | -100% |
| Financial charges | 65/66B | €3,348 | €6,196 | +€2,847 | +85.0% |
| Recurring financial charges | 65 | €3,348 | €6,196 | +€2,847 | +85.0% |
| Profit (loss) for the period before taxes | 9903 | €61,466 | €63,924 | +€2,458 | +4.0% |
| Income taxes | 67/77 | €17,483 | €18,265 | +€781 | +4.5% |
| Profit (loss) for the period | 9904 | €43,982 | €45,659 | +€1,677 | +3.8% |
| Profit (loss) for the period to be appropriated | 9905 | €43,982 | €45,659 | +€1,677 | +3.8% |
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 17 October 2026 via checked.be.