ELMI: 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.
ELMI
Largest movements
- Tangible fixed assets +€235,382
up €235,382 (+461.4%), from €51,017 to €286,400
of which Land and buildings: +€238,804
- Stocks and contracts -€43,581
down €43,581 (-24.8%), from €175,659 to €132,078
- Receivables within one year +€16,562
up €16,562 (+281.3%), from €5,888 to €22,450
of which Other amounts receivable: +€10,826
- Deferred charges and accrued income -€13,981
down €13,981 (-42.1%), from €33,244 to €19,263
- Intangible fixed assets -€10,000
down €10,000 (-60.0%), from €16,667 to €6,667
- Debts after one year +€204,082
up €204,082 (+660.2%), from €30,912 to €234,994
- Profit (loss) carried forward -€25,548
down €25,548, from €11,555 to -€13,993
- Short-term financial debts +€11,755
up €11,755 (+20.5%), from €57,313 to €69,068
of which Other loans: +€11,755
- Advances received -€10,902
no longer reported in 2024 (was €10,902)
- Trade debts +€6,818
up €6,818 (+12.2%), from €55,743 to €62,561
- Other operating charges +€25,303
up €25,303 (+213.3%), from €11,861 to €37,164
- Gross operating margin -€8,069
down €8,069 (-8.6%), from €94,238 to €86,169
- Financial charges +€7,559
up €7,559 (+73.1%), from €10,346 to €17,904
- Staff costs +€6,942
up €6,942 (+20.3%), from €34,271 to €41,213
- Taxes -€4,749
down €4,749 (-95.8%), from €4,959 to €209
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €327,170 | €503,660 | +€176,490 | +53.9% |
| Fixed assets | 21/28 | €67,684 | €293,066 | +€225,382 | +333.0% |
| Intangible fixed assets | 21 | €16,667 | €6,667 | -€10,000 | -60.0% |
| Tangible fixed assets | 22/27 | €51,017 | €286,400 | +€235,382 | +461.4% |
| Land and buildings | 22 | €44,578 | €283,382 | +€238,804 | +535.7% |
| Plant, machinery and equipment | 23 | €4,718 | €1,883 | -€2,835 | -60.1% |
| Furniture and vehicles | 24 | €1,721 | €1,134 | -€587 | -34.1% |
| Current assets | 29/58 | €259,486 | €210,594 | -€48,892 | -18.8% |
| Stocks and contracts in progress | 3 | €175,659 | €132,078 | -€43,581 | -24.8% |
| Stocks | 30/36 | €175,659 | €132,078 | -€43,581 | -24.8% |
| Amounts receivable within one year | 40/41 | €5,888 | €22,450 | +€16,562 | +281.3% |
| Trade receivables | 40 | - | €5,736 | +€5,736 | |
| Other amounts receivable | 41 | €5,888 | €16,714 | +€10,826 | +183.9% |
| Current investments | 50/53 | €1,100 | €3,100 | +€2,000 | +181.8% |
| Cash at bank and in hand | 54/58 | €43,596 | €33,703 | -€9,893 | -22.7% |
| Deferred charges and accrued income | 490/1 | €33,244 | €19,263 | -€13,981 | -42.1% |
| Total equity and liabilities | 10/49 | €327,170 | €503,660 | +€176,490 | +53.9% |
| Equity | 10/15 | €103,404 | €76,664 | -€26,740 | -25.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €85,649 | €84,457 | -€1,192 | -1.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €83,789 | €82,597 | -€1,192 | -1.4% |
| Profit (loss) carried forward | 14 | €11,555 | -€13,993 | -€25,548 | |
| Provisions and deferred taxes | 16 | €25,266 | €24,869 | -€397 | -1.6% |
| Deferred taxes | 168 | €25,266 | €24,869 | -€397 | -1.6% |
| Amounts payable | 17/49 | €198,500 | €402,128 | +€203,628 | +102.6% |
| Amounts payable after more than one year | 17 | €30,912 | €234,994 | +€204,082 | +660.2% |
| Financial debts | 170/4 | €30,912 | €234,994 | +€204,082 | +660.2% |
| Amounts payable within one year | 42/48 | €154,556 | €154,699 | +€143 | +0.1% |
| Financial debts | 43 | €57,313 | €69,068 | +€11,755 | +20.5% |
| Credit institutions | 430/8 | €50,000 | €50,000 | = | 0.0% |
| Other loans | 439 | €7,313 | €19,068 | +€11,755 | +160.7% |
| Trade debts | 44 | €55,743 | €62,561 | +€6,818 | +12.2% |
| Suppliers | 440/4 | €55,743 | €62,561 | +€6,818 | +12.2% |
| Advances received on contracts in progress | 46 | €10,902 | - | -€10,902 | |
| Taxes, remuneration and social security | 45 | €21,091 | €15,327 | -€5,763 | -27.3% |
| Taxes | 450/3 | €18,191 | €12,226 | -€5,965 | -32.8% |
| Remuneration and social security | 454/9 | €2,900 | €3,101 | +€201 | +6.9% |
| Other amounts payable | 47/48 | €9,507 | €7,743 | -€1,764 | -18.6% |
| Accrued charges and deferred income | 492/3 | €13,032 | €12,435 | -€597 | -4.6% |
| Remuneration, social security and pensions | 62 | €34,271 | €41,213 | +€6,942 | +20.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,261 | €16,875 | +€2,614 | +18.3% |
| Other operating charges | 640/8 | €11,861 | €37,164 | +€25,303 | +213.3% |
| Gross operating margin | 9900 | €94,238 | €86,169 | -€8,069 | -8.6% |
| Operating profit (loss) | 9901 | €33,845 | -€9,083 | -€42,928 | |
| Financial income | 75/76B | €88 | €59 | -€29 | -32.7% |
| Recurring financial income | 75 | €88 | €59 | -€29 | -32.7% |
| Financial charges | 65/66B | €10,346 | €17,904 | +€7,559 | +73.1% |
| Recurring financial charges | 65 | €10,346 | €17,904 | +€7,559 | +73.1% |
| Profit (loss) for the period before taxes | 9903 | €23,587 | -€26,928 | -€50,515 | |
| Transfer from deferred taxes | 780 | €142 | €397 | +€255 | +179.2% |
| Income taxes | 67/77 | €4,959 | €209 | -€4,749 | -95.8% |
| Profit (loss) for the period | 9904 | €18,771 | -€26,740 | -€45,511 | |
| Transfer from tax-exempt reserves | 789 | €427 | €1,192 | +€765 | +179.2% |
| Profit (loss) for the period to be appropriated | 9905 | €19,198 | -€25,548 | -€44,745 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.