Elodes: 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.
Elodes
Largest movements
- Stocks and contracts +€875,000
new in 2025: €875,000
- Tangible fixed assets +€494,185
up €494,185 (+109.5%), from €451,312 to €945,496
of which Land and buildings: +€453,809
- Receivables within one year +€166,942
up €166,942 (+51.0%), from €327,344 to €494,286
of which Trade receivables: +€91,969
- Receivables after one year +€52,500
new in 2025: €52,500
- Current investments +€40,000
up €40,000 (+40.0%), from €100,000 to €140,000
- Debts after one year +€1.0m
up €1.0m (+322.9%), from €313,800 to €1.3m
- Trade debts +€207,542
up €207,542 (+6221.1%), from €3,336 to €210,878
- Other debts +€147,442
up €147,442 (+711.2%), from €20,730 to €168,172
- Reserves +€122,608
up €122,608 (+22.5%), from €544,023 to €666,631
of which Distributable reserves: +€122,608
- Advances received +€42,707
up €42,707 (+70.6%), from €60,524 to €103,231
- Other operating charges +€47,494
up €47,494 (+1545.2%), from €3,074 to €50,568
- Gross operating margin +€28,660
up €28,660 (+11.8%), from €243,663 to €272,323
- Financial charges +€7,463
up €7,463 (+60.0%), from €12,430 to €19,893
- Taxes +€5,275
up €5,275 (+10.1%), from €52,350 to €57,625
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 | €1,010,148 | €2,614,513 | +€1.6m | +158.8% |
| Fixed assets | 21/28 | €491,312 | €985,496 | +€494,185 | +100.6% |
| Tangible fixed assets | 22/27 | €451,312 | €945,496 | +€494,185 | +109.5% |
| Land and buildings | 22 | €450,334 | €904,143 | +€453,809 | +100.8% |
| Plant, machinery and equipment | 23 | - | €25,616 | +€25,616 | |
| Furniture and vehicles | 24 | €978 | €15,738 | +€14,760 | +1509.3% |
| Financial fixed assets | 28 | €40,000 | €40,000 | = | 0.0% |
| Current assets | 29/58 | €518,836 | €1,629,017 | +€1.1m | +214.0% |
| Amounts receivable after more than one year | 29 | - | €52,500 | +€52,500 | |
| Other amounts receivable | 291 | - | €52,500 | +€52,500 | |
| Stocks and contracts in progress | 3 | - | €875,000 | +€875,000 | |
| Stocks | 30/36 | - | €875,000 | +€875,000 | |
| Amounts receivable within one year | 40/41 | €327,344 | €494,286 | +€166,942 | +51.0% |
| Trade receivables | 40 | €178,173 | €270,142 | +€91,969 | +51.6% |
| Other amounts receivable | 41 | €149,171 | €224,144 | +€74,973 | +50.3% |
| Current investments | 50/53 | €100,000 | €140,000 | +€40,000 | +40.0% |
| Cash at bank and in hand | 54/58 | €86,240 | €62,799 | -€23,441 | -27.2% |
| Deferred charges and accrued income | 490/1 | €5,252 | €4,432 | -€821 | -15.6% |
| Total equity and liabilities | 10/49 | €1,010,148 | €2,614,513 | +€1.6m | +158.8% |
| Equity | 10/15 | €562,573 | €685,181 | +€122,608 | +21.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €544,023 | €666,631 | +€122,608 | +22.5% |
| Tax-exempt reserves | 132 | €115,197 | €115,197 | = | 0.0% |
| Distributable reserves | 133 | €428,826 | €551,434 | +€122,608 | +28.6% |
| Amounts payable | 17/49 | €447,574 | €1,929,332 | +€1.5m | +331.1% |
| Amounts payable after more than one year | 17 | €313,800 | €1,327,207 | +€1.0m | +322.9% |
| Financial debts | 170/4 | €313,800 | €1,327,207 | +€1.0m | +322.9% |
| Amounts payable within one year | 42/48 | €126,710 | €592,365 | +€465,655 | +367.5% |
| Current portion of amounts payable after more than one year | 42 | €14,400 | €48,014 | +€33,614 | +233.4% |
| Trade debts | 44 | €3,336 | €210,878 | +€207,542 | +6221.1% |
| Suppliers | 440/4 | €3,336 | €210,878 | +€207,542 | +6221.1% |
| Advances received on contracts in progress | 46 | €60,524 | €103,231 | +€42,707 | +70.6% |
| Taxes, remuneration and social security | 45 | €27,719 | €62,070 | +€34,350 | +123.9% |
| Taxes | 450/3 | €27,719 | €62,070 | +€34,350 | +123.9% |
| Other amounts payable | 47/48 | €20,730 | €168,172 | +€147,442 | +711.2% |
| Accrued charges and deferred income | 492/3 | €7,065 | €9,760 | +€2,695 | +38.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,051 | €19,832 | -€1,219 | -5.8% |
| Other operating charges | 640/8 | €3,074 | €50,568 | +€47,494 | +1545.2% |
| Gross operating margin | 9900 | €243,663 | €272,323 | +€28,660 | +11.8% |
| Operating profit (loss) | 9901 | €219,538 | €201,924 | -€17,615 | -8.0% |
| Financial income | 75/76B | €3,192 | €4,702 | +€1,510 | +47.3% |
| Recurring financial income | 75 | €2,692 | €4,702 | +€2,010 | +74.6% |
| Non-recurring financial income | 76B | €500 | - | -€500 | |
| Financial charges | 65/66B | €12,430 | €19,893 | +€7,463 | +60.0% |
| Recurring financial charges | 65 | €12,430 | €19,893 | +€7,463 | +60.0% |
| Profit (loss) for the period before taxes | 9903 | €210,301 | €186,733 | -€23,568 | -11.2% |
| Income taxes | 67/77 | €52,350 | €57,625 | +€5,275 | +10.1% |
| Profit (loss) for the period | 9904 | €157,951 | €129,108 | -€28,843 | -18.3% |
| Profit (loss) for the period to be appropriated | 9905 | €157,951 | €129,108 | -€28,843 | -18.3% |
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 29 September 2026 via checked.be.