ELNIBA: 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.
ELNIBA
Largest movements
- Current investments +€125,000
up €125,000 (+19.2%), from €650,000 to €775,000
- Cash +€36,572
up €36,572 (+116%), from €31,640 to €68,212
mainly Other debts (+€824,979) and Net result for the year (+€284,015)
- Receivables within one year +€14,132
up €14,132 (+32.5%), from €43,546 to €57,678
of which Trade receivables: +€39,296
- Other debts +€824,979
up €824,979 (+3,324%), from €24,822 to €849,801
- Reserves -€649,920
no longer reported in 2025 (was €649,920)
- Gross operating margin +€82,927
up €82,927 (+29.8%), from €278,674 to €361,602
- Taxes +€20,617
up €20,617 (+30.2%), from €68,167 to €88,783
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 | €727,631 | €903,586 | +€175,955 | +24.2% |
| Fixed assets | 21/28 | €1,194 | €656 | -€538 | -45.1% |
| Tangible fixed assets | 22/27 | €1,194 | €656 | -€538 | -45.1% |
| Plant, machinery and equipment | 23 | €1,194 | €656 | -€538 | -45.1% |
| Current assets | 29/58 | €726,436 | €902,930 | +€176,494 | +24.3% |
| Amounts receivable within one year | 40/41 | €43,546 | €57,678 | +€14,132 | +32.5% |
| Trade receivables | 40 | €5,080 | €44,376 | +€39,296 | +774% |
| Other amounts receivable | 41 | €38,466 | €13,302 | -€25,164 | -65.4% |
| Current investments | 50/53 | €650,000 | €775,000 | +€125,000 | +19.2% |
| Cash at bank and in hand | 54/58 | €31,640 | €68,212 | +€36,572 | +116% |
| Deferred charges and accrued income | 490/1 | €1,251 | €2,040 | +€789 | +63.1% |
| Total equity and liabilities | 10/49 | €727,631 | €903,586 | +€175,955 | +24.2% |
| Equity | 10/15 | €699,920 | €50,000 | -€649,920 | -92.9% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €649,920 | - | -€649,920 | |
| Distributable reserves | 133 | €649,920 | - | -€649,920 | |
| Amounts payable | 17/49 | €27,710 | €853,586 | +€825,876 | +2,980% |
| Amounts payable within one year | 42/48 | €27,518 | €853,586 | +€826,068 | +3,002% |
| Trade debts | 44 | €2,695 | €2,685 | -€10 | -0.4% |
| Suppliers | 440/4 | €2,695 | €2,685 | -€10 | -0.4% |
| Taxes, remuneration and social security | 45 | - | €1,100 | +€1,100 | |
| Taxes | 450/3 | - | €0 | = | |
| Remuneration and social security | 454/9 | - | €1,100 | +€1,100 | |
| Other amounts payable | 47/48 | €24,822 | €849,801 | +€824,979 | +3,324% |
| Accrued charges and deferred income | 492/3 | €192 | - | -€192 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €421 | €538 | +€118 | +28.0% |
| Other operating charges | 640/8 | €258 | €260 | +€2 | +0.8% |
| Gross operating margin | 9900 | €278,674 | €361,602 | +€82,927 | +29.8% |
| Operating profit (loss) | 9901 | €277,996 | €360,803 | +€82,808 | +29.8% |
| Financial income | 75/76B | €14,500 | €15,326 | +€826 | +5.7% |
| Recurring financial income | 75 | €14,500 | €15,326 | +€826 | +5.7% |
| Financial charges | 65/66B | €3,107 | €3,331 | +€223 | +7.2% |
| Recurring financial charges | 65 | €3,107 | €3,331 | +€223 | +7.2% |
| Profit (loss) for the period before taxes | 9903 | €289,388 | €372,798 | +€83,410 | +28.8% |
| Income taxes | 67/77 | €68,167 | €88,783 | +€20,617 | +30.2% |
| Profit (loss) for the period | 9904 | €221,221 | €284,015 | +€62,793 | +28.4% |
| Profit (loss) for the period to be appropriated | 9905 | €221,221 | €284,015 | +€62,793 | +28.4% |
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 15 October 2026 via checked.be.