ELOI EXPERTISE: 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.
ELOI EXPERTISE
Largest movements
- Current investments +€90,000
new in 2025: €90,000
- Cash -€33,557
down €33,557 (-31.1%), from €108,060 to €74,503
mainly Current investments (-€90,000) and Receivables within one year (-€19,419)
- Receivables within one year +€19,419
up €19,419 (+129%), from €15,008 to €34,427
of which Other amounts receivable: +€17,275
- Tangible fixed assets -€5,841
down €5,841 (-42.0%), from €13,922 to €8,081
of which Furniture and vehicles: -€5,513
- Profit (loss) carried forward +€64,313
up €64,313 (+59.1%), from €108,904 to €173,218
- Tax, wage and social debts +€7,033
up €7,033 (+28.2%), from €24,975 to €32,009
of which Taxes: +€7,034
- Staff costs -€11,800
no longer reported in 2025 (was €11,800)
- Gross operating margin -€8,315
down €8,315 (-8.9%), from €93,692 to €85,378
- Financial income +€1,456
up €1,456 (+176%), from €827 to €2,284
- Depreciation +€1,161
up €1,161 (+41.0%), from €2,836 to €3,997
- Taxes +€1,041
up €1,041 (+6.2%), from €16,670 to €17,711
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €137,948 | €208,133 | +€70,185 | +50.9% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €13,922 | €8,081 | -€5,841 | -42.0% |
| Tangible fixed assets | 22/27 | €13,922 | €8,081 | -€5,841 | -42.0% |
| Plant, machinery and equipment | 23 | €2,372 | €1,426 | -€946 | -39.9% |
| Furniture and vehicles | 24 | €10,786 | €5,273 | -€5,513 | -51.1% |
| Leasing and similar rights | 25 | €764 | €546 | -€218 | -28.6% |
| Other tangible fixed assets | 26 | - | €836 | +€836 | |
| Current assets | 29/58 | €124,026 | €200,052 | +€76,026 | +61.3% |
| Amounts receivable within one year | 40/41 | €15,008 | €34,427 | +€19,419 | +129% |
| Trade receivables | 40 | - | €2,144 | +€2,144 | |
| Other amounts receivable | 41 | €15,008 | €32,282 | +€17,275 | +115% |
| Current investments | 50/53 | - | €90,000 | +€90,000 | |
| Cash at bank and in hand | 54/58 | €108,060 | €74,503 | -€33,557 | -31.1% |
| Deferred charges and accrued income | 490/1 | €958 | €1,122 | +€164 | +17.2% |
| Total equity and liabilities | 10/49 | €137,948 | €208,133 | +€70,185 | +50.9% |
| Equity | 10/15 | €111,404 | €175,718 | +€64,313 | +57.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €108,904 | €173,218 | +€64,313 | +59.1% |
| Amounts payable | 17/49 | €26,543 | €32,415 | +€5,872 | +22.1% |
| Amounts payable within one year | 42/48 | €26,543 | €32,415 | +€5,872 | +22.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €1,568 | €406 | -€1,162 | -74.1% |
| Suppliers | 440/4 | €1,568 | €406 | -€1,162 | -74.1% |
| Taxes, remuneration and social security | 45 | €24,975 | €32,009 | +€7,033 | +28.2% |
| Taxes | 450/3 | €24,975 | €32,009 | +€7,034 | +28.2% |
| Remuneration and social security | 454/9 | €0 | - | -€0 | |
| Remuneration, social security and pensions | 62 | €11,800 | - | -€11,800 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,836 | €3,997 | +€1,161 | +41.0% |
| Other operating charges | 640/8 | €1,258 | €1,574 | +€316 | +25.1% |
| Non-recurring operating charges | 66A | €900 | - | -€900 | |
| Gross operating margin | 9900 | €93,692 | €85,378 | -€8,315 | -8.9% |
| Operating profit (loss) | 9901 | €76,899 | €79,807 | +€2,908 | +3.8% |
| Financial income | 75/76B | €827 | €2,284 | +€1,456 | +176% |
| Recurring financial income | 75 | €827 | €2,284 | +€1,456 | +176% |
| Financial charges | 65/66B | €58 | €66 | +€8 | +13.9% |
| Recurring financial charges | 65 | €58 | €66 | +€8 | +13.9% |
| Profit (loss) for the period before taxes | 9903 | €77,668 | €82,024 | +€4,356 | +5.6% |
| Income taxes | 67/77 | €16,670 | €17,711 | +€1,041 | +6.2% |
| Profit (loss) for the period | 9904 | €60,998 | €64,313 | +€3,315 | +5.4% |
| Profit (loss) for the period to be appropriated | 9905 | €60,998 | €64,313 | +€3,315 | +5.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.