ELOco: 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.
What changed
ELOco
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€120,816
2024 · €623,883-€503,067
Equity
€1.1m
2024 · €1.0m+€120,816
Cash
€23,054
2024 · €4,204+€18,850
Balance sheet total
€9.8m
2024 · €9.5m+€335,368
Largest movements
Assets
- Receivables within one year +€385,637
up €385,637 (+166%), from €232,958 to €618,595
of which Trade receivables: +€262,470
Equity and liabilities
- Debts after one year +€337,741
up €337,741 (+32.5%), from €1.0m to €1.4m
- Reserves +€200,000
up €200,000 (+33.3%), from €600,000 to €800,000
- Other debts -€98,750
no longer reported in 2025 (was €98,750)
Income statement
- Financial income -€699,936
down €699,936 (-100.0%), from €700,000 to €64
- Gross operating margin +€194,241
up €194,241 (+38.5%), from €505,089 to €699,330
- Provisions -€18,013
new in 2025: -€18,013
- Taxes +€16,538
up €16,538 (+1,264%), from €1,309 to €17,847
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.
Result 2024
€623,883
Gross operating margin
+€194,241
Depreciation
-€69
Provisions
+€18,013
Other operating charges
-€1,333
Financial income
-€699,936
Financial charges
+€2,556
Taxes
-€16,538
Result 2025
€120,816
raises the resultlowers the result
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.
From operations
-€308,833
Investment
-€7,670
Financing
+€335,352
Cash 2024
€4,204
From operations (derived)
-€308,833
Net result for the year
+€120,816
Depreciation
+€77,038
Receivables within one year
-€385,637
Smaller working-capital items
-€1,382
Provisions
-€18,013
Tax, wage and social debts
-€2,905
Other debts
-€98,750
Investment (derived)
-€7,670
Investment in fixed assets (net)
-€7,670
Financing
+€335,352
Debts after one year
+€337,741
Current portion of long-term debt
-€2,389
Cash 2025
€23,054
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,466,094 | €9,801,462 | +€335,368 | +3.5% |
| Fixed assets | 21/28 | €9,225,226 | €9,155,858 | -€69,369 | -0.8% |
| Tangible fixed assets | 22/27 | €1,706,749 | €1,637,381 | -€69,369 | -4.1% |
| Land and buildings | 22 | €1,705,564 | €1,636,196 | -€69,369 | -4.1% |
| Furniture and vehicles | 24 | €1,185 | €1,185 | = | 0.0% |
| Financial fixed assets | 28 | €7,518,477 | €7,518,477 | = | 0.0% |
| Current assets | 29/58 | €240,868 | €645,604 | +€404,736 | +168% |
| Amounts receivable within one year | 40/41 | €232,958 | €618,595 | +€385,637 | +166% |
| Trade receivables | 40 | €205,680 | €468,150 | +€262,470 | +128% |
| Other amounts receivable | 41 | €27,278 | €150,445 | +€123,167 | +452% |
| Cash at bank and in hand | 54/58 | €4,204 | €23,054 | +€18,850 | +448% |
| Deferred charges and accrued income | 490/1 | €3,706 | €3,956 | +€249 | +6.7% |
| Total equity and liabilities | 10/49 | €9,466,094 | €9,801,462 | +€335,368 | +3.5% |
| Equity | 10/15 | €1,008,035 | €1,128,851 | +€120,816 | +12.0% |
| Contributions | 10/11 | €240,000 | €240,000 | = | 0.0% |
| Reserves | 13 | €600,000 | €800,000 | +€200,000 | +33.3% |
| Distributable reserves | 133 | €600,000 | €800,000 | +€200,000 | +33.3% |
| Profit (loss) carried forward | 14 | €168,035 | €88,851 | -€79,184 | -47.1% |
| Provisions and deferred taxes | 16 | €7,237,352 | €7,219,339 | -€18,013 | -0.2% |
| Provisions for liabilities and charges | 160/5 | €7,237,352 | €7,219,339 | -€18,013 | -0.2% |
| Other liabilities and charges | 164/5 | €7,237,352 | €7,219,339 | -€18,013 | -0.2% |
| Amounts payable | 17/49 | €1,220,707 | €1,453,272 | +€232,564 | +19.1% |
| Amounts payable after more than one year | 17 | €1,039,295 | €1,377,036 | +€337,741 | +32.5% |
| Financial debts | 170/4 | €1,039,295 | €1,377,036 | +€337,741 | +32.5% |
| Amounts payable within one year | 42/48 | €178,366 | €73,664 | -€104,702 | -58.7% |
| Current portion of amounts payable after more than one year | 42 | €69,125 | €66,736 | -€2,389 | -3.5% |
| Trade debts | 44 | €4,202 | €3,543 | -€659 | -15.7% |
| Suppliers | 440/4 | €4,202 | €3,543 | -€659 | -15.7% |
| Taxes, remuneration and social security | 45 | €6,290 | €3,385 | -€2,905 | -46.2% |
| Taxes | 450/3 | €6,290 | €3,385 | -€2,905 | -46.2% |
| Other amounts payable | 47/48 | €98,750 | - | -€98,750 | |
| Accrued charges and deferred income | 492/3 | €3,046 | €2,572 | -€474 | -15.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,969 | €77,038 | +€69 | +0.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€18,013 | -€18,013 | |
| Other operating charges | 640/8 | €5,882 | €7,215 | +€1,333 | +22.7% |
| Gross operating margin | 9900 | €505,089 | €699,330 | +€194,241 | +38.5% |
| Operating profit (loss) | 9901 | €422,238 | €633,090 | +€210,852 | +49.9% |
| Financial income | 75/76B | €700,000 | €64 | -€699,936 | -100.0% |
| Recurring financial income | 75 | €700,000 | €64 | -€699,936 | -100.0% |
| Financial charges | 65/66B | €497,046 | €494,490 | -€2,556 | -0.5% |
| Recurring financial charges | 65 | €497,046 | €494,490 | -€2,556 | -0.5% |
| Profit (loss) for the period before taxes | 9903 | €625,192 | €138,663 | -€486,529 | -77.8% |
| Income taxes | 67/77 | €1,309 | €17,847 | +€16,538 | +1,264% |
| Profit (loss) for the period | 9904 | €623,883 | €120,816 | -€503,067 | -80.6% |
| Profit (loss) for the period to be appropriated | 9905 | €623,883 | €120,816 | -€503,067 | -80.6% |
Source: filed annual accounts (NBB), financial years ended 31 July 2024 and 31 July 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.