ELPAS: 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.
ELPAS
Largest movements
- Cash -€72,504
down €72,504 (-96.1%), from €75,409 to €2,905
mainly Advances received (-€28,196) and Trade debts (-€28,032)
- Tangible fixed assets +€7,960
up €7,960 (+4.0%), from €198,905 to €206,865
of which Furniture and vehicles: +€12,294
- Receivables within one year +€4,027
new in 2025: €4,027
- Advances received -€28,196
down €28,196 (-47.6%), from €59,196 to €31,000
- Trade debts -€28,032
down €28,032 (-93.0%), from €30,153 to €2,121
- Profit (loss) carried forward -€7,571
new in 2025: -€7,571
- Current portion of long-term debt +€6,335
up €6,335 (+86.4%), from €7,328 to €13,663
- Other debts +€4,318
up €4,318 (+129%), from €3,344 to €7,662
- Gross operating margin -€33,343
down €33,343 (-82.1%), from €40,611 to €7,268
- Taxes -€9,346
down €9,346 (-97.1%), from €9,630 to €284
- Depreciation +€2,288
up €2,288 (+49.7%), from €4,603 to €6,891
- Other operating charges +€1,163
up €1,163 (+99.2%), from €1,172 to €2,335
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 | €351,314 | €290,797 | -€60,517 | -17.2% |
| Fixed assets | 21/28 | €260,905 | €268,865 | +€7,960 | +3.1% |
| Tangible fixed assets | 22/27 | €198,905 | €206,865 | +€7,960 | +4.0% |
| Land and buildings | 22 | €197,527 | €193,193 | -€4,334 | -2.2% |
| Furniture and vehicles | 24 | €1,378 | €13,672 | +€12,294 | +892% |
| Financial fixed assets | 28 | €62,000 | €62,000 | = | 0.0% |
| Current assets | 29/58 | €90,409 | €21,932 | -€68,477 | -75.7% |
| Amounts receivable within one year | 40/41 | - | €4,027 | +€4,027 | |
| Trade receivables | 40 | - | €4,027 | +€4,027 | |
| Current investments | 50/53 | €15,000 | €15,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €75,409 | €2,905 | -€72,504 | -96.1% |
| Total equity and liabilities | 10/49 | €351,314 | €290,797 | -€60,517 | -17.2% |
| Equity | 10/15 | €116,662 | €109,091 | -€7,571 | -6.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €111,662 | €111,662 | = | 0.0% |
| Distributable reserves | 133 | €111,662 | €111,662 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€7,571 | -€7,571 | |
| Amounts payable | 17/49 | €234,652 | €181,706 | -€52,946 | -22.6% |
| Amounts payable after more than one year | 17 | €123,910 | €120,187 | -€3,723 | -3.0% |
| Financial debts | 170/4 | €123,910 | €120,187 | -€3,723 | -3.0% |
| Amounts payable within one year | 42/48 | €110,742 | €61,519 | -€49,223 | -44.4% |
| Current portion of amounts payable after more than one year | 42 | €7,328 | €13,663 | +€6,335 | +86.4% |
| Trade debts | 44 | €30,153 | €2,121 | -€28,032 | -93.0% |
| Suppliers | 440/4 | €30,153 | €2,121 | -€28,032 | -93.0% |
| Advances received on contracts in progress | 46 | €59,196 | €31,000 | -€28,196 | -47.6% |
| Taxes, remuneration and social security | 45 | €10,721 | €7,073 | -€3,648 | -34.0% |
| Taxes | 450/3 | €10,721 | €7,073 | -€3,648 | -34.0% |
| Other amounts payable | 47/48 | €3,344 | €7,662 | +€4,318 | +129% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,603 | €6,891 | +€2,288 | +49.7% |
| Other operating charges | 640/8 | €1,172 | €2,335 | +€1,163 | +99.2% |
| Gross operating margin | 9900 | €40,611 | €7,268 | -€33,343 | -82.1% |
| Operating profit (loss) | 9901 | €34,836 | -€1,958 | -€36,794 | |
| Financial income | 75/76B | €249 | €563 | +€314 | +126% |
| Recurring financial income | 75 | €249 | €563 | +€314 | +126% |
| Financial charges | 65/66B | €5,679 | €5,892 | +€213 | +3.8% |
| Recurring financial charges | 65 | €5,679 | €5,892 | +€213 | +3.8% |
| Profit (loss) for the period before taxes | 9903 | €29,406 | -€7,287 | -€36,693 | |
| Income taxes | 67/77 | €9,630 | €284 | -€9,346 | -97.1% |
| Profit (loss) for the period | 9904 | €19,776 | -€7,571 | -€27,347 | |
| Profit (loss) for the period to be appropriated | 9905 | €19,776 | -€7,571 | -€27,347 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.