ELPE INVEST: what changed
What changed
ELPE INVEST
NACE 68.110, Buying and selling of own real estate
filed annual accounts (NBB)
Net result for the year
-€11,774
2024 · €1,402-€13,176
Equity
€37,541
2024 · €49,315-€11,774
Cash
€162,114
2024 · €144,247+€17,867
Balance sheet total
€821,817
2024 · €816,720+€5,097
Largest movements
Assets
- Cash +€17,867
up €17,867 (+12.4%), from €144,247 to €162,114
mainly Debts after one year (+€763,819) and Depreciation (+€16,265)
- Tangible fixed assets -€13,220
down €13,220 (-2.0%), from €671,344 to €658,124
Equity and liabilities
- Debts after one year +€763,819
new in 2025: €763,819
- Other debts -€753,890
down €753,890 (-98.7%), from €763,819 to €9,929
- Reserves -€11,774
down €11,774 (-61.0%), from €19,315 to €7,541
Income statement
- Financial charges +€15,276
new in 2025: €15,276
- Gross operating margin +€2,947
up €2,947 (+10.8%), from €27,247 to €30,194
- Other operating charges +€771
up €771 (+8.3%), from €9,330 to €10,101
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€1,402
Gross operating margin
+€2,947
Depreciation
-€100
Other operating charges
-€771
Financial income
+€57
Financial charges
-€15,276
Taxes
-€32
Result 2025
-€11,774
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€742,907
Investment
-€3,045
Financing
+€763,819
Cash 2024
€144,247
From operations (derived)
-€742,907
Net result for the year
-€11,774
Depreciation
+€16,265
Smaller working-capital items
+€1,704
Tax, wage and social debts
+€4,789
Other debts
-€753,890
Investment (derived)
-€3,045
Investment in fixed assets (net)
-€3,045
Financing
+€763,819
Debts after one year
+€763,819
Cash 2025
€162,114
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €816,720 | €821,817 | +€5,097 | +0.6% |
| Fixed assets | 21/28 | €671,344 | €658,124 | -€13,220 | -2.0% |
| Tangible fixed assets | 22/27 | €671,344 | €658,124 | -€13,220 | -2.0% |
| Land and buildings | 22 | €671,344 | €658,124 | -€13,220 | -2.0% |
| Current assets | 29/58 | €145,376 | €163,693 | +€18,317 | +12.6% |
| Amounts receivable within one year | 40/41 | €1,129 | €1,579 | +€449 | +39.8% |
| Trade receivables | 40 | €980 | €512 | -€468 | -47.8% |
| Other amounts receivable | 41 | €150 | €1,067 | +€918 | +614% |
| Cash at bank and in hand | 54/58 | €144,247 | €162,114 | +€17,867 | +12.4% |
| Total equity and liabilities | 10/49 | €816,720 | €821,817 | +€5,097 | +0.6% |
| Equity | 10/15 | €49,315 | €37,541 | -€11,774 | -23.9% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €19,315 | €7,541 | -€11,774 | -61.0% |
| Distributable reserves | 133 | €19,315 | €7,541 | -€11,774 | -61.0% |
| Amounts payable | 17/49 | €767,405 | €784,276 | +€16,871 | +2.2% |
| Amounts payable after more than one year | 17 | - | €763,819 | +€763,819 | |
| Financial debts | 170/4 | - | €763,819 | +€763,819 | |
| Amounts payable within one year | 42/48 | €767,405 | €20,457 | -€746,948 | -97.3% |
| Trade debts | 44 | €87 | €890 | +€803 | +923% |
| Suppliers | 440/4 | €87 | €890 | +€803 | +923% |
| Advances received on contracts in progress | 46 | - | €1,350 | +€1,350 | |
| Taxes, remuneration and social security | 45 | €3,499 | €8,288 | +€4,789 | +137% |
| Taxes | 450/3 | €3,499 | €8,288 | +€4,789 | +137% |
| Other amounts payable | 47/48 | €763,819 | €9,929 | -€753,890 | -98.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,165 | €16,265 | +€100 | +0.6% |
| Other operating charges | 640/8 | €9,330 | €10,101 | +€771 | +8.3% |
| Gross operating margin | 9900 | €27,247 | €30,194 | +€2,947 | +10.8% |
| Operating profit (loss) | 9901 | €1,752 | €3,828 | +€2,075 | +118% |
| Financial income | 75/76B | €0 | €57 | +€57 | |
| Recurring financial income | 75 | €0 | €57 | +€57 | |
| Financial charges | 65/66B | - | €15,276 | +€15,276 | |
| Recurring financial charges | 65 | - | €15,276 | +€15,276 | |
| Profit (loss) for the period before taxes | 9903 | €1,752 | -€11,392 | -€13,144 | |
| Income taxes | 67/77 | €350 | €382 | +€32 | +9.1% |
| Profit (loss) for the period | 9904 | €1,402 | -€11,774 | -€13,176 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,402 | -€11,774 | -€13,176 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.