ELOTEC: 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.
What changed
ELOTEC
NACE 43.211, General electrical installation work
fiscal year 2025 against 2026filed annual accounts (NBB)
Net result for the year
€160,378
2025 · €164,563-€4,185
Equity
€975,879
2025 · €909,501+€66,378
Cash
€316,941
2025 · €312,879+€4,062
Balance sheet total
€1.3m
2025 · €1.4m-€76,440
Largest movements
Assets
- Tangible fixed assets -€53,020
down €53,020 (-6.1%), from €871,068 to €818,048
of which Land and buildings: -€29,012
- Receivables within one year -€24,871
down €24,871 (-13.9%), from €178,770 to €153,899
of which Trade receivables: -€19,670
Equity and liabilities
- Debts after one year -€67,337
down €67,337 (-59.2%), from €113,739 to €46,402
- Reserves +€66,378
up €66,378 (+8.1%), from €819,501 to €885,879
of which Distributable reserves: +€73,764
- Other debts -€27,457
down €27,457 (-23.5%), from €116,757 to €89,300
- Current portion of long-term debt -€19,454
down €19,454 (-21.6%), from €90,149 to €70,695
- Trade debts -€14,315
down €14,315 (-19.3%), from €74,164 to €59,849
Income statement
- Staff costs +€24,157
up €24,157 (+6.4%), from €379,160 to €403,317
- Gross operating margin +€14,316
up €14,316 (+2.0%), from €705,943 to €720,259
- Write-downs -€12,230
new in 2026: -€12,230
- Depreciation +€8,794
up €8,794 (+15.3%), from €57,626 to €66,420
- Financial charges -€8,200
down €8,200 (-50.8%), from €16,155 to €7,955
From the 2025 result to the 2026 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 2025
€164,563
Gross operating margin
+€14,316
Staff costs
-€24,157
Depreciation
-€8,794
Write-downs
+€12,230
Provisions
+€4,606
Other operating charges
+€1,047
Other operating items
-€12,230
Financial income
-€730
Financial charges
+€8,200
Taxes
+€1,327
Result 2026
€160,378
Cash bridge derived
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€198,253
Investment
-€13,400
Financing
-€180,791
Cash 2025
€312,879
From operations (derived)
+€198,253
Net result for the year
+€160,378
Depreciation
+€66,420
Stocks and contracts
+€2,542
Receivables within one year
+€24,871
Deferred charges and accrued income
+€69
Provisions
-€1,791
Trade debts
-€14,315
Tax, wage and social debts
-€12,464
Other debts
-€27,457
Investment (derived)
-€13,400
Investment in fixed assets (net)
-€13,400
Financing
-€180,791
Debts after one year
-€67,337
Current portion of long-term debt
-€19,454
Contributions, distributions and other
-€94,000
Cash 2026
€316,941
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,410,819 | €1,334,379 | -€76,440 | -5.4% |
| Fixed assets | 21/28 | €871,068 | €818,048 | -€53,020 | -6.1% |
| Tangible fixed assets | 22/27 | €871,068 | €818,048 | -€53,020 | -6.1% |
| Land and buildings | 22 | €737,106 | €708,094 | -€29,012 | -3.9% |
| Plant, machinery and equipment | 23 | €11,009 | €7,978 | -€3,031 | -27.5% |
| Furniture and vehicles | 24 | €122,953 | €101,976 | -€20,977 | -17.1% |
| Current assets | 29/58 | €539,751 | €516,331 | -€23,420 | -4.3% |
| Stocks and contracts in progress | 3 | €46,679 | €44,137 | -€2,542 | -5.4% |
| Stocks | 30/36 | €22,483 | €24,784 | +€2,301 | +10.2% |
| Contracts in progress | 37 | €24,196 | €19,353 | -€4,843 | -20.0% |
| Amounts receivable within one year | 40/41 | €178,770 | €153,899 | -€24,871 | -13.9% |
| Trade receivables | 40 | €156,147 | €136,477 | -€19,670 | -12.6% |
| Other amounts receivable | 41 | €22,623 | €17,422 | -€5,201 | -23.0% |
| Cash at bank and in hand | 54/58 | €312,879 | €316,941 | +€4,062 | +1.3% |
| Deferred charges and accrued income | 490/1 | €1,423 | €1,354 | -€69 | -4.8% |
| Total equity and liabilities | 10/49 | €1,410,819 | €1,334,379 | -€76,440 | -5.4% |
| Equity | 10/15 | €909,501 | €975,879 | +€66,378 | +7.3% |
| Contributions | 10/11 | €90,000 | €90,000 | = | 0.0% |
| Capital | 10 | €90,000 | €90,000 | = | 0.0% |
| Issued capital | 100 | €90,000 | €90,000 | = | 0.0% |
| Reserves | 13 | €819,501 | €885,879 | +€66,378 | +8.1% |
| Non-distributable reserves | 130/1 | €24,935 | €24,935 | = | 0.0% |
| Legal reserve | 130 | €24,935 | €24,935 | = | 0.0% |
| Tax-exempt reserves | 132 | €86,923 | €79,537 | -€7,386 | -8.5% |
| Distributable reserves | 133 | €707,643 | €781,407 | +€73,764 | +10.4% |
| Provisions and deferred taxes | 16 | €56,575 | €54,784 | -€1,791 | -3.2% |
| Deferred taxes | 168 | €56,575 | €54,784 | -€1,791 | -3.2% |
| Amounts payable | 17/49 | €444,743 | €303,716 | -€141,027 | -31.7% |
| Amounts payable after more than one year | 17 | €113,739 | €46,402 | -€67,337 | -59.2% |
| Financial debts | 170/4 | €113,739 | €46,402 | -€67,337 | -59.2% |
| Amounts payable within one year | 42/48 | €331,004 | €257,314 | -€73,690 | -22.3% |
| Current portion of amounts payable after more than one year | 42 | €90,149 | €70,695 | -€19,454 | -21.6% |
| Trade debts | 44 | €74,164 | €59,849 | -€14,315 | -19.3% |
| Suppliers | 440/4 | €74,164 | €59,849 | -€14,315 | -19.3% |
| Taxes, remuneration and social security | 45 | €49,934 | €37,470 | -€12,464 | -25.0% |
| Taxes | 450/3 | €34,531 | €21,532 | -€12,999 | -37.6% |
| Remuneration and social security | 454/9 | €15,403 | €15,938 | +€535 | +3.5% |
| Other amounts payable | 47/48 | €116,757 | €89,300 | -€27,457 | -23.5% |
| Non-recurring operating income | 76A | €7,448 | €207 | -€7,241 | -97.2% |
| Remuneration, social security and pensions | 62 | €379,160 | €403,317 | +€24,157 | +6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,626 | €66,420 | +€8,794 | +15.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€12,230 | -€12,230 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €4,606 | - | -€4,606 | |
| Other operating charges | 640/8 | €8,484 | €7,437 | -€1,047 | -12.3% |
| Non-recurring operating charges | 66A | - | €12,230 | +€12,230 | |
| Gross operating margin | 9900 | €705,943 | €720,259 | +€14,316 | +2.0% |
| Operating profit (loss) | 9901 | €256,067 | €243,085 | -€12,982 | -5.1% |
| Financial income | 75/76B | €731 | €1 | -€730 | -99.9% |
| Recurring financial income | 75 | €731 | €1 | -€730 | -99.9% |
| Financial charges | 65/66B | €16,155 | €7,955 | -€8,200 | -50.8% |
| Recurring financial charges | 65 | €16,155 | €7,955 | -€8,200 | -50.8% |
| Profit (loss) for the period before taxes | 9903 | €240,643 | €235,131 | -€5,512 | -2.3% |
| Transfer from deferred taxes | 780 | €1,791 | €1,791 | = | 0.0% |
| Income taxes | 67/77 | €77,871 | €76,544 | -€1,327 | -1.7% |
| Profit (loss) for the period | 9904 | €164,563 | €160,378 | -€4,185 | -2.5% |
| Transfer from tax-exempt reserves | 789 | €7,164 | €7,386 | +€222 | +3.1% |
| Transfer to tax-exempt reserves | 689 | €223 | - | -€223 | |
| Profit (loss) for the period to be appropriated | 9905 | €171,504 | €167,764 | -€3,740 | -2.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.