ELNA: 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.
ELNA
Largest movements
- Receivables within one year +€21,175
up €21,175 (+31.1%), from €68,123 to €89,297
of which Trade receivables: +€14,724
- Cash +€19,351
up €19,351 (+67.3%), from €28,757 to €48,108
mainly Accrued charges and deferred income (+€35,000) and Stocks and contracts (+€15,016)
- Stocks and contracts -€15,016
down €15,016 (-20.3%), from €74,119 to €59,103
- Tangible fixed assets +€6,710
up €6,710 (+45.3%), from €14,811 to €21,521
of which Plant, machinery and equipment: +€5,929
- Accrued charges and deferred income +€35,000
up €35,000, from €0 to €35,000
- Other debts -€16,512
down €16,512 (-100.0%), from €16,512 to €0
- Trade debts +€13,804
up €13,804 (+132.8%), from €10,392 to €24,196
- Tax, wage and social debts -€6,714
down €6,714 (-58.5%), from €11,484 to €4,770
of which Remuneration and social security: -€9,015
- Reserves +€4,523
up €4,523 (+3.3%), from €138,974 to €143,497
of which Distributable reserves: +€4,523
- Gross operating margin +€9,032
up €9,032 (+137.6%), from €6,564 to €15,596
- Taxes +€2,301
up €2,301 (+240.6%), from €957 to €3,258
- Financial charges +€1,289
up €1,289 (+54.0%), from €2,388 to €3,677
- Depreciation +€918
up €918 (+51.7%), from €1,775 to €2,693
- Other operating charges +€369
up €369 (+31.8%), from €1,160 to €1,529
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 | €195,954 | €226,055 | +€30,101 | +15.4% |
| Fixed assets | 21/28 | €16,358 | €23,068 | +€6,710 | +41.0% |
| Tangible fixed assets | 22/27 | €14,811 | €21,521 | +€6,710 | +45.3% |
| Land and buildings | 22 | €875 | €754 | -€121 | -13.8% |
| Plant, machinery and equipment | 23 | €2,201 | €8,130 | +€5,929 | +269.4% |
| Furniture and vehicles | 24 | €11,736 | €12,637 | +€902 | +7.7% |
| Financial fixed assets | 28 | €1,547 | €1,547 | = | 0.0% |
| Current assets | 29/58 | €179,597 | €202,988 | +€23,391 | +13.0% |
| Stocks and contracts in progress | 3 | €74,119 | €59,103 | -€15,016 | -20.3% |
| Stocks | 30/36 | €74,119 | €59,103 | -€15,016 | -20.3% |
| Amounts receivable within one year | 40/41 | €68,123 | €89,297 | +€21,175 | +31.1% |
| Trade receivables | 40 | €67,471 | €82,196 | +€14,724 | +21.8% |
| Other amounts receivable | 41 | €652 | €7,102 | +€6,450 | +989.9% |
| Cash at bank and in hand | 54/58 | €28,757 | €48,108 | +€19,351 | +67.3% |
| Deferred charges and accrued income | 490/1 | €8,598 | €6,479 | -€2,119 | -24.6% |
| Total equity and liabilities | 10/49 | €195,954 | €226,055 | +€30,101 | +15.4% |
| Equity | 10/15 | €157,566 | €162,089 | +€4,523 | +2.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €138,974 | €143,497 | +€4,523 | +3.3% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,500 | €6,500 | = | 0.0% |
| Distributable reserves | 133 | €130,615 | €135,138 | +€4,523 | +3.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €38,388 | €63,966 | +€25,578 | +66.6% |
| Amounts payable within one year | 42/48 | €38,388 | €28,966 | -€9,422 | -24.5% |
| Trade debts | 44 | €10,392 | €24,196 | +€13,804 | +132.8% |
| Suppliers | 440/4 | €10,392 | €24,196 | +€13,804 | +132.8% |
| Taxes, remuneration and social security | 45 | €11,484 | €4,770 | -€6,714 | -58.5% |
| Taxes | 450/3 | €957 | €3,258 | +€2,301 | +240.6% |
| Remuneration and social security | 454/9 | €10,527 | €1,512 | -€9,015 | -85.6% |
| Other amounts payable | 47/48 | €16,512 | €0 | -€16,512 | -100.0% |
| Accrued charges and deferred income | 492/3 | €0 | €35,000 | +€35,000 | |
| Non-recurring operating income | 76A | - | €21,702 | +€21,702 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,775 | €2,693 | +€918 | +51.7% |
| Other operating charges | 640/8 | €1,160 | €1,529 | +€369 | +31.8% |
| Gross operating margin | 9900 | €6,564 | €15,596 | +€9,032 | +137.6% |
| Operating profit (loss) | 9901 | €3,629 | €11,374 | +€7,745 | +213.4% |
| Financial income | 75/76B | €34 | €84 | +€50 | +146.3% |
| Recurring financial income | 75 | €34 | €84 | +€50 | +146.3% |
| Financial charges | 65/66B | €2,388 | €3,677 | +€1,289 | +54.0% |
| Recurring financial charges | 65 | €2,388 | €3,677 | +€1,289 | +54.0% |
| Profit (loss) for the period before taxes | 9903 | €1,275 | €7,781 | +€6,506 | +510.1% |
| Income taxes | 67/77 | €957 | €3,258 | +€2,301 | +240.6% |
| Profit (loss) for the period | 9904 | €319 | €4,523 | +€4,204 | +1318.9% |
| Profit (loss) for the period to be appropriated | 9905 | €319 | €4,523 | +€4,204 | +1318.9% |
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.