ELMESCO: 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.
ELMESCO
Largest movements
- Receivables within one year -€30,066
down €30,066 (-66.0%), from €45,521 to €15,455
of which Other amounts receivable: -€27,606
- Current investments +€11,705
up €11,705 (+32.6%), from €35,854 to €47,559
- Tangible fixed assets -€10,659
down €10,659 (-53.7%), from €19,845 to €9,186
of which Leasing and similar rights: -€9,186
- Cash +€7,109
up €7,109 (+13.1%), from €54,303 to €61,412
mainly Other debts (+€75,547) and Net result for the year (+€42,986)
- Reserves -€86,056
down €86,056 (-66.7%), from €129,042 to €42,986
- Other debts +€75,547
new in 2026: €75,547
- Debts after one year -€7,116
no longer reported in 2026 (was €7,116)
- Current portion of long-term debt -€2,245
down €2,245 (-24.0%), from €9,362 to €7,116
- Gross operating margin +€2,463
up €2,463 (+3.9%), from €62,507 to €64,970
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €157,776 | €135,884 | -€21,892 | -13.9% |
| Fixed assets | 21/28 | €19,845 | €9,186 | -€10,659 | -53.7% |
| Tangible fixed assets | 22/27 | €19,845 | €9,186 | -€10,659 | -53.7% |
| Plant, machinery and equipment | 23 | €3,386 | €1,913 | -€1,473 | -43.5% |
| Leasing and similar rights | 25 | €16,459 | €7,273 | -€9,186 | -55.8% |
| Current assets | 29/58 | €137,931 | €126,698 | -€11,233 | -8.1% |
| Amounts receivable within one year | 40/41 | €45,521 | €15,455 | -€30,066 | -66.0% |
| Trade receivables | 40 | €14,318 | €11,858 | -€2,461 | -17.2% |
| Other amounts receivable | 41 | €31,202 | €3,597 | -€27,606 | -88.5% |
| Current investments | 50/53 | €35,854 | €47,559 | +€11,705 | +32.6% |
| Cash at bank and in hand | 54/58 | €54,303 | €61,412 | +€7,109 | +13.1% |
| Deferred charges and accrued income | 490/1 | €2,253 | €2,272 | +€19 | +0.9% |
| Total equity and liabilities | 10/49 | €157,776 | €135,884 | -€21,892 | -13.9% |
| Equity | 10/15 | €130,542 | €44,486 | -€86,056 | -65.9% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €129,042 | €42,986 | -€86,056 | -66.7% |
| Distributable reserves | 133 | €129,042 | €42,986 | -€86,056 | -66.7% |
| Amounts payable | 17/49 | €27,234 | €91,398 | +€64,164 | +235.6% |
| Amounts payable after more than one year | 17 | €7,116 | - | -€7,116 | |
| Financial debts | 170/4 | €7,116 | - | -€7,116 | |
| Amounts payable within one year | 42/48 | €20,117 | €91,398 | +€71,280 | +354.3% |
| Current portion of amounts payable after more than one year | 42 | €9,362 | €7,116 | -€2,245 | -24.0% |
| Trade debts | 44 | €1,415 | €536 | -€878 | -62.1% |
| Suppliers | 440/4 | €1,415 | €536 | -€878 | -62.1% |
| Taxes, remuneration and social security | 45 | €9,341 | €8,198 | -€1,143 | -12.2% |
| Taxes | 450/3 | €9,341 | €8,198 | -€1,143 | -12.2% |
| Other amounts payable | 47/48 | - | €75,547 | +€75,547 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,219 | €10,659 | +€440 | +4.3% |
| Other operating charges | 640/8 | €642 | €667 | +€24 | +3.8% |
| Gross operating margin | 9900 | €62,507 | €64,970 | +€2,463 | +3.9% |
| Operating profit (loss) | 9901 | €51,646 | €53,644 | +€1,998 | +3.9% |
| Financial income | 75/76B | €1,966 | €1,431 | -€536 | -27.2% |
| Recurring financial income | 75 | €1,966 | €1,431 | -€536 | -27.2% |
| Financial charges | 65/66B | €1,142 | €1,141 | -€2 | -0.2% |
| Recurring financial charges | 65 | €1,142 | €1,141 | -€2 | -0.2% |
| Profit (loss) for the period before taxes | 9903 | €52,469 | €53,934 | +€1,465 | +2.8% |
| Income taxes | 67/77 | €10,646 | €10,948 | +€302 | +2.8% |
| Profit (loss) for the period | 9904 | €41,823 | €42,986 | +€1,162 | +2.8% |
| Profit (loss) for the period to be appropriated | 9905 | €41,823 | €42,986 | +€1,162 | +2.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.