ELNI: 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.
ELNI
Largest movements
- Stocks and contracts +€53,732
up €53,732 (+154%), from €34,964 to €88,696
- Tangible fixed assets -€35,196
down €35,196 (-73.7%), from €47,787 to €12,591
of which Furniture and vehicles: -€32,302
- Cash -€24,540
down €24,540 (-37.1%), from €66,096 to €41,556
mainly Stocks and contracts (-€53,732) and Other debts (-€28,572)
- Receivables within one year -€12,657
down €12,657 (-28.3%), from €44,714 to €32,057
of which Other amounts receivable: -€21,591
- Deferred charges and accrued income +€2,379
up €2,379 (+382%), from €622 to €3,002
- Tax, wage and social debts +€31,329
up €31,329 (+77.3%), from €40,553 to €71,881
of which Remuneration and social security: +€30,250
- Other debts -€28,572
down €28,572 (-98.4%), from €29,030 to €458
- Trade debts -€17,945
down €17,945 (-76.4%), from €23,494 to €5,549
- Current portion of long-term debt -€6,729
no longer reported in 2025 (was €6,729)
- Profit (loss) carried forward +€5,635
new in 2025: €5,635
- Staff costs +€54,243
up €54,243 (+49.1%), from €110,413 to €164,656
- Gross operating margin +€39,127
up €39,127 (+24.8%), from €157,647 to €196,774
- Financial charges +€5,734
up €5,734 (+88.8%), from €6,456 to €12,190
- Taxes -€4,434
down €4,434 (-39.1%), from €11,354 to €6,919
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.
Derived cash bridge
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 | €194,183 | €177,902 | -€16,282 | -8.4% |
| Fixed assets | 21/28 | €47,787 | €12,591 | -€35,196 | -73.7% |
| Tangible fixed assets | 22/27 | €47,787 | €12,591 | -€35,196 | -73.7% |
| Land and buildings | 22 | €13,735 | €10,348 | -€3,386 | -24.7% |
| Plant, machinery and equipment | 23 | €1,751 | €2,243 | +€492 | +28.1% |
| Furniture and vehicles | 24 | €32,302 | €0 | -€32,302 | -100% |
| Current assets | 29/58 | €146,396 | €165,311 | +€18,915 | +12.9% |
| Stocks and contracts in progress | 3 | €34,964 | €88,696 | +€53,732 | +154% |
| Stocks | 30/36 | €34,964 | €88,696 | +€53,732 | +154% |
| Amounts receivable within one year | 40/41 | €44,714 | €32,057 | -€12,657 | -28.3% |
| Trade receivables | 40 | €21,740 | €30,674 | +€8,934 | +41.1% |
| Other amounts receivable | 41 | €22,974 | €1,383 | -€21,591 | -94.0% |
| Cash at bank and in hand | 54/58 | €66,096 | €41,556 | -€24,540 | -37.1% |
| Deferred charges and accrued income | 490/1 | €622 | €3,002 | +€2,379 | +382% |
| Total equity and liabilities | 10/49 | €194,183 | €177,902 | -€16,282 | -8.4% |
| Equity | 10/15 | €94,379 | €100,014 | +€5,635 | +6.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €84,379 | €84,379 | = | 0.0% |
| Distributable reserves | 133 | €84,379 | €84,379 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €5,635 | +€5,635 | |
| Amounts payable | 17/49 | €99,805 | €77,888 | -€21,917 | -22.0% |
| Amounts payable within one year | 42/48 | €99,805 | €77,888 | -€21,917 | -22.0% |
| Current portion of amounts payable after more than one year | 42 | €6,729 | - | -€6,729 | |
| Trade debts | 44 | €23,494 | €5,549 | -€17,945 | -76.4% |
| Suppliers | 440/4 | €23,494 | €5,549 | -€17,945 | -76.4% |
| Taxes, remuneration and social security | 45 | €40,553 | €71,881 | +€31,329 | +77.3% |
| Taxes | 450/3 | €24,738 | €25,817 | +€1,079 | +4.4% |
| Remuneration and social security | 454/9 | €15,815 | €46,065 | +€30,250 | +191% |
| Other amounts payable | 47/48 | €29,030 | €458 | -€28,572 | -98.4% |
| Non-recurring operating income | 76A | - | €1,098 | +€1,098 | |
| Remuneration, social security and pensions | 62 | €110,413 | €164,656 | +€54,243 | +49.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,641 | €4,786 | +€146 | +3.1% |
| Other operating charges | 640/8 | €1,974 | €2,600 | +€626 | +31.7% |
| Gross operating margin | 9900 | €157,647 | €196,774 | +€39,127 | +24.8% |
| Operating profit (loss) | 9901 | €40,620 | €24,733 | -€15,887 | -39.1% |
| Financial income | 75/76B | €1,233 | €12 | -€1,221 | -99.1% |
| Recurring financial income | 75 | €1,233 | €12 | -€1,221 | -99.1% |
| Financial charges | 65/66B | €6,456 | €12,190 | +€5,734 | +88.8% |
| Recurring financial charges | 65 | €6,456 | €12,190 | +€5,734 | +88.8% |
| Profit (loss) for the period before taxes | 9903 | €35,397 | €12,555 | -€22,842 | -64.5% |
| Income taxes | 67/77 | €11,354 | €6,919 | -€4,434 | -39.1% |
| Profit (loss) for the period | 9904 | €24,043 | €5,635 | -€18,408 | -76.6% |
| Profit (loss) for the period to be appropriated | 9905 | €24,043 | €5,635 | -€18,408 | -76.6% |
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 16 October 2026 via checked.be.