ELOART: 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.
ELOART
Largest movements
- Receivables within one year +€52,779
up €52,779 (+132.4%), from €39,855 to €92,634
of which Other amounts receivable: +€49,115
- Cash +€33,944
up €33,944 (+27.9%), from €121,769 to €155,713
mainly Provisions (+€70,000) and Depreciation (+€13,651)
- Deferred charges and accrued income -€10,883
down €10,883 (-26.8%), from €40,589 to €29,706
- Tangible fixed assets +€5,859
up €5,859 (+11.5%), from €50,820 to €56,679
of which Furniture and vehicles: +€8,674
- Provisions +€70,000
up €70,000 (+100.0%), from €70,000 to €140,000
- Reserves +€11,928
up €11,928 (+7.7%), from €154,695 to €166,623
- Depreciation +€7,063
up €7,063 (+107.2%), from €6,588 to €13,651
- Gross operating margin +€2,366
up €2,366 (+1.9%), from €121,535 to €123,902
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 | €253,033 | €334,733 | +€81,700 | +32.3% |
| Fixed assets | 21/28 | €50,820 | €56,679 | +€5,859 | +11.5% |
| Tangible fixed assets | 22/27 | €50,820 | €56,679 | +€5,859 | +11.5% |
| Land and buildings | 22 | €1,266 | €1,077 | -€188 | -14.9% |
| Plant, machinery and equipment | 23 | €18,826 | €14,813 | -€4,013 | -21.3% |
| Furniture and vehicles | 24 | €17,250 | €25,924 | +€8,674 | +50.3% |
| Other tangible fixed assets | 26 | €13,477 | €14,865 | +€1,388 | +10.3% |
| Current assets | 29/58 | €202,214 | €278,054 | +€75,840 | +37.5% |
| Amounts receivable within one year | 40/41 | €39,855 | €92,634 | +€52,779 | +132.4% |
| Trade receivables | 40 | - | €3,664 | +€3,664 | |
| Other amounts receivable | 41 | €39,855 | €88,970 | +€49,115 | +123.2% |
| Cash at bank and in hand | 54/58 | €121,769 | €155,713 | +€33,944 | +27.9% |
| Deferred charges and accrued income | 490/1 | €40,589 | €29,706 | -€10,883 | -26.8% |
| Total equity and liabilities | 10/49 | €253,033 | €334,733 | +€81,700 | +32.3% |
| Equity | 10/15 | €155,014 | €166,942 | +€11,928 | +7.7% |
| Reserves | 13 | €154,695 | €166,623 | +€11,928 | +7.7% |
| Distributable reserves | 133 | €154,695 | €166,623 | +€11,928 | +7.7% |
| Profit (loss) carried forward | 14 | €319 | €319 | = | 0.0% |
| Provisions and deferred taxes | 16 | €70,000 | €140,000 | +€70,000 | +100.0% |
| Provisions for liabilities and charges | 160/5 | €70,000 | €140,000 | +€70,000 | +100.0% |
| Other liabilities and charges | 164/5 | €70,000 | €140,000 | +€70,000 | +100.0% |
| Amounts payable | 17/49 | €28,020 | €27,791 | -€229 | -0.8% |
| Amounts payable within one year | 42/48 | €27,672 | €27,443 | -€229 | -0.8% |
| Current portion of amounts payable after more than one year | 42 | €14,583 | €14,583 | = | 0.0% |
| Trade debts | 44 | €1,144 | €250 | -€895 | -78.2% |
| Suppliers | 440/4 | €1,144 | €250 | -€895 | -78.2% |
| Taxes, remuneration and social security | 45 | €11,945 | €12,611 | +€666 | +5.6% |
| Taxes | 450/3 | €11,945 | €12,611 | +€666 | +5.6% |
| Accrued charges and deferred income | 492/3 | €348 | €348 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,588 | €13,651 | +€7,063 | +107.2% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €70,000 | €70,000 | = | 0.0% |
| Other operating charges | 640/8 | €1,798 | €1,059 | -€738 | -41.1% |
| Gross operating margin | 9900 | €121,535 | €123,902 | +€2,366 | +1.9% |
| Operating profit (loss) | 9901 | €43,150 | €39,191 | -€3,959 | -9.2% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €3,191 | €3,371 | +€180 | +5.6% |
| Recurring financial charges | 65 | €3,191 | €3,371 | +€180 | +5.6% |
| Profit (loss) for the period before taxes | 9903 | €39,959 | €35,820 | -€4,139 | -10.4% |
| Income taxes | 67/77 | €22,957 | €23,891 | +€934 | +4.1% |
| Profit (loss) for the period | 9904 | €17,001 | €11,928 | -€5,073 | -29.8% |
| Profit (loss) for the period to be appropriated | 9905 | €17,001 | €11,928 | -€5,073 | -29.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.