ELMO: 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.
ELMO
Largest movements
- Receivables after one year +€25,000
new in 2025: €25,000
- Cash +€12,807
up €12,807 (+204.3%), from €6,269 to €19,076
mainly Net result for the year (+€30,446) and Depreciation (+€13,713)
- Tangible fixed assets -€11,570
down €11,570 (-18.6%), from €62,053 to €50,483
of which Furniture and vehicles: -€11,050
- Reserves +€30,446
new in 2025: €30,446
- Debts after one year -€12,226
down €12,226 (-25.5%), from €47,936 to €35,710
- Tax, wage and social debts +€8,700
up €8,700 (+2304.3%), from €378 to €9,077
- Trade debts -€2,099
no longer reported in 2025 (was €2,099)
- Gross operating margin +€49,556
up €49,556 (+978.4%), from €5,065 to €54,621
- Depreciation +€10,488
up €10,488 (+325.2%), from €3,225 to €13,713
- Taxes +€8,322
up €8,322 (+2204.3%), from €378 to €8,700
- Financial charges +€1,216
up €1,216 (+180.8%), from €673 to €1,889
- Financial income +€750
new in 2025: €750
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 | €69,055 | €94,864 | +€25,809 | +37.4% |
| Fixed assets | 21/28 | €62,053 | €50,483 | -€11,570 | -18.6% |
| Tangible fixed assets | 22/27 | €62,053 | €50,483 | -€11,570 | -18.6% |
| Plant, machinery and equipment | 23 | €2,569 | €2,049 | -€520 | -20.2% |
| Furniture and vehicles | 24 | €59,485 | €48,434 | -€11,050 | -18.6% |
| Current assets | 29/58 | €7,001 | €44,381 | +€37,379 | +533.9% |
| Amounts receivable after more than one year | 29 | - | €25,000 | +€25,000 | |
| Other amounts receivable | 291 | - | €25,000 | +€25,000 | |
| Amounts receivable within one year | 40/41 | €733 | - | -€733 | |
| Trade receivables | 40 | €733 | - | -€733 | |
| Cash at bank and in hand | 54/58 | €6,269 | €19,076 | +€12,807 | +204.3% |
| Deferred charges and accrued income | 490/1 | - | €305 | +€305 | |
| Total equity and liabilities | 10/49 | €69,055 | €94,864 | +€25,809 | +37.4% |
| Equity | 10/15 | €5,740 | €36,186 | +€30,446 | +530.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | - | €30,446 | +€30,446 | |
| Distributable reserves | 133 | - | €30,446 | +€30,446 | |
| Profit (loss) carried forward | 14 | €740 | €740 | = | 0.0% |
| Amounts payable | 17/49 | €63,315 | €58,678 | -€4,637 | -7.3% |
| Amounts payable after more than one year | 17 | €47,936 | €35,710 | -€12,226 | -25.5% |
| Financial debts | 170/4 | €47,936 | €35,710 | -€12,226 | -25.5% |
| Amounts payable within one year | 42/48 | €15,379 | €22,968 | +€7,589 | +49.3% |
| Current portion of amounts payable after more than one year | 42 | €11,840 | €12,226 | +€386 | +3.3% |
| Trade debts | 44 | €2,099 | - | -€2,099 | |
| Suppliers | 440/4 | €2,099 | - | -€2,099 | |
| Taxes, remuneration and social security | 45 | €378 | €9,077 | +€8,700 | +2304.3% |
| Taxes | 450/3 | €378 | €9,077 | +€8,700 | +2304.3% |
| Other amounts payable | 47/48 | €1,062 | €1,665 | +€603 | +56.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,225 | €13,713 | +€10,488 | +325.2% |
| Other operating charges | 640/8 | €50 | €624 | +€574 | +1148.1% |
| Gross operating margin | 9900 | €5,065 | €54,621 | +€49,556 | +978.4% |
| Operating profit (loss) | 9901 | €1,790 | €40,284 | +€38,494 | +2150.6% |
| Financial income | 75/76B | - | €750 | +€750 | |
| Recurring financial income | 75 | - | €750 | +€750 | |
| Financial charges | 65/66B | €673 | €1,889 | +€1,216 | +180.8% |
| Recurring financial charges | 65 | €673 | €1,889 | +€1,216 | +180.8% |
| Profit (loss) for the period before taxes | 9903 | €1,117 | €39,145 | +€38,028 | +3403.7% |
| Income taxes | 67/77 | €378 | €8,700 | +€8,322 | +2204.3% |
| Profit (loss) for the period | 9904 | €740 | €30,446 | +€29,706 | +4015.9% |
| Profit (loss) for the period to be appropriated | 9905 | €740 | €30,446 | +€29,706 | +4015.9% |
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 10 October 2026 via checked.be.