ELMORE: 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.
ELMORE
Largest movements
- Cash +€116,061
up €116,061 (+25.0%), from €465,127 to €581,188
mainly Net result for the year (+€122,696) and Other debts (+€92,057)
- Receivables within one year -€16,561
down €16,561 (-35.1%), from €47,236 to €30,675
of which Trade receivables: -€16,561
- Tangible fixed assets -€6,545
down €6,545 (-16.6%), from €39,320 to €32,775
- Other debts +€92,057
up €92,057 (+295.7%), from €31,135 to €123,192
- Gross operating margin -€10,447
down €10,447 (-5.3%), from €196,625 to €186,178
- Staff costs -€4,843
down €4,843 (-100.0%), from €4,843 to €0
- Taxes -€3,027
down €3,027 (-5.4%), from €55,893 to €52,866
- Financial income -€2,737
down €2,737 (-34.6%), from €7,902 to €5,165
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 | €557,830 | €649,709 | +€91,880 | +16.5% |
| Fixed assets | 21/28 | €39,320 | €32,775 | -€6,545 | -16.6% |
| Tangible fixed assets | 22/27 | €39,320 | €32,775 | -€6,545 | -16.6% |
| Plant, machinery and equipment | 23 | €5,571 | €3,294 | -€2,277 | -40.9% |
| Furniture and vehicles | 24 | €2,388 | €762 | -€1,626 | -68.1% |
| Other tangible fixed assets | 26 | €31,360 | €28,719 | -€2,641 | -8.4% |
| Current assets | 29/58 | €518,510 | €616,934 | +€98,424 | +19.0% |
| Stocks and contracts in progress | 3 | €233 | €65 | -€168 | -72.1% |
| Stocks | 30/36 | €233 | €65 | -€168 | -72.1% |
| Amounts receivable within one year | 40/41 | €47,236 | €30,675 | -€16,561 | -35.1% |
| Trade receivables | 40 | €47,236 | €30,675 | -€16,561 | -35.1% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €465,127 | €581,188 | +€116,061 | +25.0% |
| Deferred charges and accrued income | 490/1 | €5,914 | €5,006 | -€908 | -15.3% |
| Total equity and liabilities | 10/49 | €557,830 | €649,709 | +€91,880 | +16.5% |
| Equity | 10/15 | €480,847 | €478,946 | -€1,901 | -0.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €474,647 | €472,746 | -€1,901 | -0.4% |
| Distributable reserves | 133 | €474,647 | €472,746 | -€1,901 | -0.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €76,983 | €170,763 | +€93,780 | +121.8% |
| Amounts payable within one year | 42/48 | €73,530 | €166,938 | +€93,408 | +127.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €8,391 | €5,547 | -€2,844 | -33.9% |
| Suppliers | 440/4 | €8,391 | €5,547 | -€2,844 | -33.9% |
| Advances received on contracts in progress | 46 | - | €683 | +€683 | |
| Taxes, remuneration and social security | 45 | €34,004 | €37,516 | +€3,512 | +10.3% |
| Taxes | 450/3 | €34,004 | €37,516 | +€3,512 | +10.3% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €31,135 | €123,192 | +€92,057 | +295.7% |
| Accrued charges and deferred income | 492/3 | €3,453 | €3,825 | +€372 | +10.8% |
| Non-recurring operating income | 76A | €10,196 | €0 | -€10,196 | -100.0% |
| Remuneration, social security and pensions | 62 | €4,843 | €0 | -€4,843 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,725 | €6,545 | -€181 | -2.7% |
| Other operating charges | 640/8 | €987 | €1,218 | +€231 | +23.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €196,625 | €186,178 | -€10,447 | -5.3% |
| Operating profit (loss) | 9901 | €184,069 | €178,416 | -€5,654 | -3.1% |
| Financial income | 75/76B | €7,902 | €5,165 | -€2,737 | -34.6% |
| Recurring financial income | 75 | €7,902 | €5,165 | -€2,737 | -34.6% |
| Financial charges | 65/66B | €6,488 | €8,019 | +€1,530 | +23.6% |
| Recurring financial charges | 65 | €6,488 | €8,019 | +€1,530 | +23.6% |
| Profit (loss) for the period before taxes | 9903 | €185,483 | €175,562 | -€9,922 | -5.3% |
| Income taxes | 67/77 | €55,893 | €52,866 | -€3,027 | -5.4% |
| Profit (loss) for the period | 9904 | €129,590 | €122,696 | -€6,894 | -5.3% |
| Profit (loss) for the period to be appropriated | 9905 | €129,590 | €122,696 | -€6,894 | -5.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.