ELORAC ADVICE: 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.
ELORAC ADVICE
Largest movements
- Cash +€9,000
up €9,000 (+22.1%), from €40,787 to €49,787
mainly Net result for the year (+€15,568) and Depreciation (+€8,222)
- Tangible fixed assets -€4,250
down €4,250 (-46.7%), from €9,101 to €4,851
- Receivables within one year +€3,648
up €3,648 (+12.5%), from €29,268 to €32,915
of which Trade receivables: +€3,886
- Other debts +€6,087
up €6,087 (+27.1%), from €22,465 to €28,552
- Trade debts +€3,402
up €3,402 (+224%), from €1,520 to €4,922
- Gross operating margin +€7,213
up €7,213 (+26.4%), from €27,327 to €34,541
- Taxes +€3,331
up €3,331 (+54.4%), from €6,128 to €9,459
- Depreciation -€990
down €990 (-10.7%), from €9,212 to €8,222
- Financial charges -€411
down €411 (-30.0%), from €1,368 to €957
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 | €81,520 | €90,242 | +€8,722 | +10.7% |
| Fixed assets | 21/28 | €9,101 | €4,851 | -€4,250 | -46.7% |
| Tangible fixed assets | 22/27 | €9,101 | €4,851 | -€4,250 | -46.7% |
| Furniture and vehicles | 24 | €9,101 | €4,851 | -€4,250 | -46.7% |
| Current assets | 29/58 | €72,419 | €85,391 | +€12,972 | +17.9% |
| Amounts receivable within one year | 40/41 | €29,268 | €32,915 | +€3,648 | +12.5% |
| Trade receivables | 40 | €27,895 | €31,781 | +€3,886 | +13.9% |
| Other amounts receivable | 41 | €1,372 | €1,134 | -€238 | -17.4% |
| Cash at bank and in hand | 54/58 | €40,787 | €49,787 | +€9,000 | +22.1% |
| Deferred charges and accrued income | 490/1 | €2,364 | €2,689 | +€325 | +13.8% |
| Total equity and liabilities | 10/49 | €81,520 | €90,242 | +€8,722 | +10.7% |
| Equity | 10/15 | €53,589 | €53,052 | -€538 | -1.0% |
| Contributions | 10/11 | €24,000 | €24,000 | = | 0.0% |
| Reserves | 13 | €29,589 | €29,052 | -€538 | -1.8% |
| Distributable reserves | 133 | €29,589 | €29,052 | -€538 | -1.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €27,931 | €37,190 | +€9,260 | +33.2% |
| Amounts payable within one year | 42/48 | €26,731 | €36,413 | +€9,682 | +36.2% |
| Trade debts | 44 | €1,520 | €4,922 | +€3,402 | +224% |
| Suppliers | 440/4 | €1,520 | €4,922 | +€3,402 | +224% |
| Taxes, remuneration and social security | 45 | €2,745 | €2,938 | +€193 | +7.0% |
| Taxes | 450/3 | €2,745 | €2,938 | +€193 | +7.0% |
| Other amounts payable | 47/48 | €22,465 | €28,552 | +€6,087 | +27.1% |
| Accrued charges and deferred income | 492/3 | €1,200 | €778 | -€422 | -35.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,212 | €8,222 | -€990 | -10.7% |
| Other operating charges | 640/8 | €902 | €600 | -€302 | -33.5% |
| Gross operating margin | 9900 | €27,327 | €34,541 | +€7,213 | +26.4% |
| Operating profit (loss) | 9901 | €17,213 | €25,719 | +€8,506 | +49.4% |
| Financial income | 75/76B | €136 | €265 | +€129 | +95.3% |
| Recurring financial income | 75 | €136 | €265 | +€129 | +95.3% |
| Financial charges | 65/66B | €1,368 | €957 | -€411 | -30.0% |
| Recurring financial charges | 65 | €1,368 | €957 | -€411 | -30.0% |
| Profit (loss) for the period before taxes | 9903 | €15,981 | €25,027 | +€9,046 | +56.6% |
| Income taxes | 67/77 | €6,128 | €9,459 | +€3,331 | +54.4% |
| Profit (loss) for the period | 9904 | €9,853 | €15,568 | +€5,715 | +58.0% |
| Profit (loss) for the period to be appropriated | 9905 | €9,853 | €15,568 | +€5,715 | +58.0% |
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 24 October 2026 via checked.be.