ELNIVI: 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.
ELNIVI
Largest movements
- Stocks and contracts -€741,116
down €741,116 (-62.3%), from €1.2m to €448,007
- Cash -€455,939
down €455,939 (-99.3%), from €459,162 to €3,224
mainly Other debts (-€676,803) and Debts after one year (-€301,500)
- Other debts -€676,803
down €676,803 (-56.9%), from €1.2m to €512,823
- Debts after one year -€301,500
down €301,500 (-100.0%), from €301,500 to €0
of which Financial debts: -€301,500
- Profit (loss) carried forward -€139,243
down €139,243, from €35 to -€139,208
- Tax, wage and social debts -€72,330
down €72,330 (-97.5%), from €74,165 to €1,836
- Gross operating margin -€212,790
down €212,790, from €133,824 to -€78,966
- Taxes -€33,528
down €33,528 (-100.0%), from €33,528 to €0
- Financial charges +€14,061
up €14,061 (+53.6%), from €26,220 to €40,281
- Other operating charges +€11,969
up €11,969 (+149.1%), from €8,027 to €19,996
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 | €1,665,504 | €471,698 | -€1.2m | -71.7% |
| Fixed assets | 21/28 | €1,000 | €500 | -€500 | -50.0% |
| Financial fixed assets | 28 | €1,000 | €500 | -€500 | -50.0% |
| Current assets | 29/58 | €1,664,504 | €471,198 | -€1.2m | -71.7% |
| Stocks and contracts in progress | 3 | €1,189,123 | €448,007 | -€741,116 | -62.3% |
| Stocks | 30/36 | €1,189,123 | €448,007 | -€741,116 | -62.3% |
| Amounts receivable within one year | 40/41 | €16,219 | €19,967 | +€3,748 | +23.1% |
| Trade receivables | 40 | €14,877 | €17,967 | +€3,090 | +20.8% |
| Other amounts receivable | 41 | €1,342 | €2,000 | +€658 | +49.0% |
| Cash at bank and in hand | 54/58 | €459,162 | €3,224 | -€455,939 | -99.3% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,665,504 | €471,698 | -€1.2m | -71.7% |
| Equity | 10/15 | €90,897 | -€48,346 | -€139,243 | |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €78,462 | €78,462 | = | 0.0% |
| Distributable reserves | 133 | €78,462 | €78,462 | = | 0.0% |
| Profit (loss) carried forward | 14 | €35 | -€139,208 | -€139,243 | |
| Amounts payable | 17/49 | €1,574,607 | €520,043 | -€1.1m | -67.0% |
| Amounts payable after more than one year | 17 | €301,500 | €0 | -€301,500 | -100.0% |
| Financial debts | 170/4 | €301,500 | €0 | -€301,500 | -100.0% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €1,273,107 | €520,043 | -€753,064 | -59.2% |
| Trade debts | 44 | €9,316 | €5,385 | -€3,931 | -42.2% |
| Suppliers | 440/4 | €9,316 | €5,385 | -€3,931 | -42.2% |
| Taxes, remuneration and social security | 45 | €74,165 | €1,836 | -€72,330 | -97.5% |
| Taxes | 450/3 | €74,165 | €1,836 | -€72,330 | -97.5% |
| Other amounts payable | 47/48 | €1,189,626 | €512,823 | -€676,803 | -56.9% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Other operating charges | 640/8 | €8,027 | €19,996 | +€11,969 | +149.1% |
| Gross operating margin | 9900 | €133,824 | -€78,966 | -€212,790 | |
| Operating profit (loss) | 9901 | €125,796 | -€98,962 | -€224,758 | |
| Financial income | 75/76B | €14 | €0 | -€14 | -100.0% |
| Recurring financial income | 75 | €14 | €0 | -€14 | -100.0% |
| Financial charges | 65/66B | €26,220 | €40,281 | +€14,061 | +53.6% |
| Recurring financial charges | 65 | €26,220 | €40,281 | +€14,061 | +53.6% |
| Profit (loss) for the period before taxes | 9903 | €99,591 | -€139,243 | -€238,834 | |
| Income taxes | 67/77 | €33,528 | €0 | -€33,528 | -100.0% |
| Profit (loss) for the period | 9904 | €66,062 | -€139,243 | -€205,305 | |
| Profit (loss) for the period to be appropriated | 9905 | €66,062 | -€139,243 | -€205,305 |
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 4 October 2026 via checked.be.