ELNIE: what changed
What changed
ELNIE
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
-€10,612
2024 · -€423-€10,190
Equity
€88,834
2024 · €99,447-€10,612
Cash
€2,660
2024 · €1,161+€1,498
Balance sheet total
€449,911
2024 · €861,795-€411,884
Largest movements
Assets
- Tangible fixed assets -€470,313
down €470,313 (-58.9%), from €798,082 to €327,769
of which Land and buildings: -€454,575
- Receivables within one year +€52,829
up €52,829 (+88.5%), from €59,667 to €112,495
of which Other amounts receivable: +€29,353
Equity and liabilities
- Debts after one year -€254,107
down €254,107 (-62.7%), from €405,248 to €151,141
- Other debts -€125,505
down €125,505 (-48.5%), from €258,712 to €133,206
- Current portion of long-term debt -€20,062
down €20,062 (-41.7%), from €48,056 to €27,994
- Profit (loss) carried forward -€10,612
down €10,612 (-11.0%), from €96,447 to €85,834
- Tax, wage and social debts -€10,414
down €10,414 (-24.7%), from €42,183 to €31,769
Income statement
- Depreciation -€22,659
down €22,659 (-42.2%), from €53,681 to €31,023
- Gross operating margin -€11,490
down €11,490 (-12.1%), from €94,807 to €83,317
- Taxes -€10,878
down €10,878 (-95.9%), from €11,349 to €471
- Financial charges +€4,982
up €4,982 (+20.6%), from €24,133 to €29,116
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€423
Gross operating margin
-€11,490
Depreciation
+€22,659
Other operating charges
-€125
Other operating items
-€27,130
Financial charges
-€4,982
Taxes
+€10,878
Result 2025
-€10,612
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€160,622
Investment
+€436,290
Financing
-€274,170
Cash 2024
€1,161
From operations (derived)
-€160,622
Net result for the year
-€10,612
Depreciation
+€31,023
Receivables within one year
-€52,829
Deferred charges and accrued income
-€1,102
Trade debts
+€8,818
Tax, wage and social debts
-€10,414
Other debts
-€125,505
Investment (derived)
+€436,290
Investment in fixed assets (net)
+€436,290
Financing
-€274,170
Debts after one year
-€254,107
Current portion of long-term debt
-€20,062
Cash 2025
€2,660
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €861,795 | €449,911 | -€411,884 | -47.8% |
| Fixed assets | 21/28 | €798,082 | €330,769 | -€467,313 | -58.6% |
| Tangible fixed assets | 22/27 | €798,082 | €327,769 | -€470,313 | -58.9% |
| Land and buildings | 22 | €769,917 | €315,341 | -€454,575 | -59.0% |
| Plant, machinery and equipment | 23 | €8,731 | €9,437 | +€706 | +8.1% |
| Furniture and vehicles | 24 | €19,434 | €2,991 | -€16,444 | -84.6% |
| Financial fixed assets | 28 | - | €3,000 | +€3,000 | |
| Current assets | 29/58 | €63,713 | €119,143 | +€55,429 | +87.0% |
| Amounts receivable within one year | 40/41 | €59,667 | €112,495 | +€52,829 | +88.5% |
| Trade receivables | 40 | €2,709 | €26,185 | +€23,476 | +866% |
| Other amounts receivable | 41 | €56,957 | €86,310 | +€29,353 | +51.5% |
| Cash at bank and in hand | 54/58 | €1,161 | €2,660 | +€1,498 | +129% |
| Deferred charges and accrued income | 490/1 | €2,885 | €3,988 | +€1,102 | +38.2% |
| Total equity and liabilities | 10/49 | €861,795 | €449,911 | -€411,884 | -47.8% |
| Equity | 10/15 | €99,447 | €88,834 | -€10,612 | -10.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €96,447 | €85,834 | -€10,612 | -11.0% |
| Amounts payable | 17/49 | €762,349 | €361,077 | -€401,271 | -52.6% |
| Amounts payable after more than one year | 17 | €405,248 | €151,141 | -€254,107 | -62.7% |
| Financial debts | 170/4 | €405,248 | €151,141 | -€254,107 | -62.7% |
| Amounts payable within one year | 42/48 | €357,101 | €209,937 | -€147,164 | -41.2% |
| Current portion of amounts payable after more than one year | 42 | €48,056 | €27,994 | -€20,062 | -41.7% |
| Trade debts | 44 | €8,150 | €16,968 | +€8,818 | +108% |
| Suppliers | 440/4 | €8,150 | €16,968 | +€8,818 | +108% |
| Taxes, remuneration and social security | 45 | €42,183 | €31,769 | -€10,414 | -24.7% |
| Taxes | 450/3 | €42,183 | €31,769 | -€10,414 | -24.7% |
| Other amounts payable | 47/48 | €258,712 | €133,206 | -€125,505 | -48.5% |
| Non-recurring operating income | 76A | €4,428 | €9,339 | +€4,911 | +111% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,681 | €31,023 | -€22,659 | -42.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €6,066 | €6,191 | +€125 | +2.1% |
| Non-recurring operating charges | 66A | €0 | €27,130 | +€27,130 | |
| Gross operating margin | 9900 | €94,807 | €83,317 | -€11,490 | -12.1% |
| Operating profit (loss) | 9901 | €35,060 | €18,974 | -€16,086 | -45.9% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €24,133 | €29,116 | +€4,982 | +20.6% |
| Recurring financial charges | 65 | €24,133 | €29,116 | +€4,982 | +20.6% |
| Profit (loss) for the period before taxes | 9903 | €10,926 | -€10,142 | -€21,068 | |
| Income taxes | 67/77 | €11,349 | €471 | -€10,878 | -95.9% |
| Profit (loss) for the period | 9904 | -€423 | -€10,612 | -€10,190 | -2,411% |
| Profit (loss) for the period to be appropriated | 9905 | -€423 | -€10,612 | -€10,190 | -2,411% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.