ELNOR HOLDING: what changed
What changed
ELNOR HOLDING
NACE 27.110, Manufacture of electrical equipment
filed annual accounts (NBB)
Net result for the year
-€123,301
2024 · €147,132-€270,433
Equity
€2.7m
2024 · €2.8m-€123,301
Cash
€70,554
2024 · €46,089+€24,465
Balance sheet total
€6.4m
2024 · €5.5m+€974,489
Largest movements
Assets
- Tangible fixed assets +€983,683
up €983,683 (+24.8%), from €4.0m to €5.0m
Equity and liabilities
- Debts after one year +€1.5m
up €1.5m (+75.0%), from €2.0m to €3.4m
- Trade debts -€491,291
down €491,291 (-93.7%), from €524,102 to €32,811
- Profit (loss) carried forward -€123,301
down €123,301 (-8.5%), from €1.4m to €1.3m
- Current portion of long-term debt +€117,496
up €117,496 (+76.6%), from €153,382 to €270,878
Income statement
- Financial income -€175,546
down €175,546 (-87.2%), from €201,387 to €25,842
- Depreciation +€84,011
up €84,011 (+46.6%), from €180,172 to €264,183
- Financial charges +€29,230
up €29,230 (+45.7%), from €63,912 to €93,141
- Gross operating margin +€14,605
up €14,605 (+6.5%), from €225,712 to €240,317
- Other operating charges -€3,748
down €3,748 (-10.4%), from €35,883 to €32,135
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
€147,132
Gross operating margin
+€14,605
Depreciation
-€84,011
Other operating charges
+€3,748
Financial income
-€175,546
Financial charges
-€29,230
Result 2025
-€123,301
raises the resultlowers the result
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
-€316,634
Investment
-€1.2m
Financing
+€1.6m
Cash 2024
€46,089
From operations (derived)
-€316,634
Net result for the year
-€123,301
Depreciation
+€264,183
Receivables within one year
+€33,774
Smaller working-capital items
+€1
Trade debts
-€491,291
Investment (derived)
-€1.2m
Investment in fixed assets (net)
-€1.2m
Financing
+€1.6m
Debts after one year
+€1.5m
Current portion of long-term debt
+€117,496
Cash 2025
€70,554
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,457,120 | €6,431,608 | +€974,489 | +17.9% |
| Fixed assets | 21/28 | €5,369,499 | €6,353,181 | +€983,683 | +18.3% |
| Tangible fixed assets | 22/27 | €3,969,397 | €4,953,080 | +€983,683 | +24.8% |
| Land and buildings | 22 | €3,969,397 | €4,953,080 | +€983,683 | +24.8% |
| Financial fixed assets | 28 | €1,400,101 | €1,400,101 | = | 0.0% |
| Current assets | 29/58 | €87,621 | €78,427 | -€9,194 | -10.5% |
| Amounts receivable within one year | 40/41 | €35,011 | €1,238 | -€33,774 | -96.5% |
| Trade receivables | 40 | €34,169 | €1,238 | -€32,931 | -96.4% |
| Other amounts receivable | 41 | €842 | €0 | -€842 | -100% |
| Cash at bank and in hand | 54/58 | €46,089 | €70,554 | +€24,465 | +53.1% |
| Deferred charges and accrued income | 490/1 | €6,521 | €6,635 | +€114 | +1.8% |
| Total equity and liabilities | 10/49 | €5,457,120 | €6,431,608 | +€974,489 | +17.9% |
| Equity | 10/15 | €2,818,129 | €2,694,828 | -€123,301 | -4.4% |
| Contributions | 10/11 | €1,250,001 | €1,250,001 | = | 0.0% |
| Capital | 10 | €1,250,001 | €1,250,001 | = | 0.0% |
| Issued capital | 100 | €1,250,001 | €1,250,001 | = | 0.0% |
| Reserves | 13 | €125,000 | €125,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €125,000 | €125,000 | = | 0.0% |
| Legal reserve | 130 | €125,000 | €125,000 | = | 0.0% |
| Distributable reserves | 133 | €0 | €0 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,443,128 | €1,319,827 | -€123,301 | -8.5% |
| Amounts payable | 17/49 | €2,638,991 | €3,736,781 | +€1.1m | +41.6% |
| Amounts payable after more than one year | 17 | €1,961,120 | €3,432,589 | +€1.5m | +75.0% |
| Financial debts | 170/4 | €1,961,120 | €3,432,589 | +€1.5m | +75.0% |
| Amounts payable within one year | 42/48 | €677,871 | €304,192 | -€373,679 | -55.1% |
| Current portion of amounts payable after more than one year | 42 | €153,382 | €270,878 | +€117,496 | +76.6% |
| Trade debts | 44 | €524,102 | €32,811 | -€491,291 | -93.7% |
| Suppliers | 440/4 | €524,102 | €32,811 | -€491,291 | -93.7% |
| Taxes, remuneration and social security | 45 | - | €503 | +€503 | |
| Taxes | 450/3 | - | €503 | +€503 | |
| Other amounts payable | 47/48 | €387 | €0 | -€387 | -100% |
| Non-recurring operating income | 76A | €851 | €0 | -€851 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €180,172 | €264,183 | +€84,011 | +46.6% |
| Other operating charges | 640/8 | €35,883 | €32,135 | -€3,748 | -10.4% |
| Gross operating margin | 9900 | €225,712 | €240,317 | +€14,605 | +6.5% |
| Operating profit (loss) | 9901 | €9,656 | -€56,002 | -€65,658 | |
| Financial income | 75/76B | €201,387 | €25,842 | -€175,546 | -87.2% |
| Recurring financial income | 75 | €201,387 | €25,842 | -€175,546 | -87.2% |
| Financial charges | 65/66B | €63,912 | €93,141 | +€29,230 | +45.7% |
| Recurring financial charges | 65 | €63,912 | €93,141 | +€29,230 | +45.7% |
| Profit (loss) for the period before taxes | 9903 | €147,132 | -€123,301 | -€270,433 | |
| Profit (loss) for the period | 9904 | €147,132 | -€123,301 | -€270,433 | |
| Profit (loss) for the period to be appropriated | 9905 | €147,132 | -€123,301 | -€270,433 |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.