ELMU: 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.
ELMU
Largest movements
- Cash +€4,281
up €4,281 (+52.2%), from €8,203 to €12,484
mainly Net result for the year (+€12,251) and Other debts (+€2,780)
- Debts after one year -€12,604
down €12,604 (-9.9%), from €127,850 to €115,246
of which Financial debts: -€12,604
- Profit (loss) carried forward +€12,251
up €12,251 (+33.4%), from €36,714 to €48,964
- Other debts +€2,780
up €2,780 (+25.2%), from €11,042 to €13,822
- Gross operating margin +€1,687
up €1,687 (+9.2%), from €18,276 to €19,963
- Financial charges -€457
down €457 (-11.2%), from €4,072 to €3,615
- Taxes +€312
up €312 (+11.3%), from €2,751 to €3,063
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 | €206,009 | €208,737 | +€2,728 | +1.3% |
| Fixed assets | 21/28 | €196,000 | €196,000 | = | 0.0% |
| Financial fixed assets | 28 | €196,000 | €196,000 | = | 0.0% |
| Current assets | 29/58 | €10,009 | €12,737 | +€2,728 | +27.3% |
| Amounts receivable within one year | 40/41 | €1,300 | - | -€1,300 | |
| Other amounts receivable | 41 | €1,300 | - | -€1,300 | |
| Cash at bank and in hand | 54/58 | €8,203 | €12,484 | +€4,281 | +52.2% |
| Deferred charges and accrued income | 490/1 | €506 | €253 | -€253 | -50.0% |
| Total equity and liabilities | 10/49 | €206,009 | €208,737 | +€2,728 | +1.3% |
| Equity | 10/15 | €43,714 | €55,964 | +€12,251 | +28.0% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €36,714 | €48,964 | +€12,251 | +33.4% |
| Amounts payable | 17/49 | €162,295 | €152,773 | -€9,523 | -5.9% |
| Amounts payable after more than one year | 17 | €127,850 | €115,246 | -€12,604 | -9.9% |
| Financial debts | 170/4 | €47,850 | €35,246 | -€12,604 | -26.3% |
| Other amounts payable | 178/9 | €80,000 | €80,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €33,545 | €36,627 | +€3,081 | +9.2% |
| Current portion of amounts payable after more than one year | 42 | €11,837 | €12,604 | +€767 | +6.5% |
| Trade debts | 44 | €1,821 | €203 | -€1,619 | -88.9% |
| Suppliers | 440/4 | €1,821 | €203 | -€1,619 | -88.9% |
| Taxes, remuneration and social security | 45 | €8,845 | €9,998 | +€1,153 | +13.0% |
| Taxes | 450/3 | €8,845 | €9,998 | +€1,153 | +13.0% |
| Other amounts payable | 47/48 | €11,042 | €13,822 | +€2,780 | +25.2% |
| Accrued charges and deferred income | 492/3 | €900 | €900 | = | 0.0% |
| Other operating charges | 640/8 | €451 | €465 | +€14 | +3.2% |
| Non-recurring operating charges | 66A | - | €570 | +€570 | |
| Gross operating margin | 9900 | €18,276 | €19,963 | +€1,687 | +9.2% |
| Operating profit (loss) | 9901 | €17,825 | €18,928 | +€1,103 | +6.2% |
| Financial charges | 65/66B | €4,072 | €3,615 | -€457 | -11.2% |
| Recurring financial charges | 65 | €4,072 | €3,615 | -€457 | -11.2% |
| Profit (loss) for the period before taxes | 9903 | €13,753 | €15,313 | +€1,561 | +11.3% |
| Income taxes | 67/77 | €2,751 | €3,063 | +€312 | +11.3% |
| Profit (loss) for the period | 9904 | €11,002 | €12,251 | +€1,248 | +11.3% |
| Profit (loss) for the period to be appropriated | 9905 | €11,002 | €12,251 | +€1,248 | +11.3% |
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 6 October 2026 via checked.be.