ELPEBA: 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.
ELPEBA
Largest movements
- Receivables within one year +€122,434
up €122,434 (+811%), from €15,101 to €137,535
of which Trade receivables: +€118,521
- Tangible fixed assets +€71,213
up €71,213 (+9.2%), from €777,272 to €848,485
of which Land and buildings: +€96,668
- Deferred charges and accrued income -€41,823
down €41,823 (-42.3%), from €98,820 to €56,997
- Other debts +€375,771
up €375,771 (+21,385%), from €1,757 to €377,528
- Profit (loss) carried forward -€177,703
down €177,703 (-54.0%), from €329,182 to €151,480
- Debts after one year -€99,470
down €99,470 (-29.8%), from €333,642 to €234,172
- Current portion of long-term debt +€50,129
up €50,129 (+39.4%), from €127,341 to €177,470
- Other operating charges -€28,277
down €28,277 (-87.8%), from €32,213 to €3,937
- Staff costs +€11,054
up €11,054 (+4.4%), from €249,229 to €260,282
- Gross operating margin -€7,562
down €7,562 (-1.5%), from €507,159 to €499,597
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 | €897,560 | €1,043,049 | +€145,489 | +16.2% |
| Fixed assets | 21/28 | €777,272 | €848,485 | +€71,213 | +9.2% |
| Tangible fixed assets | 22/27 | €777,272 | €848,485 | +€71,213 | +9.2% |
| Land and buildings | 22 | €701,997 | €798,665 | +€96,668 | +13.8% |
| Furniture and vehicles | 24 | €75,275 | €49,820 | -€25,455 | -33.8% |
| Current assets | 29/58 | €120,288 | €194,564 | +€74,276 | +61.7% |
| Amounts receivable within one year | 40/41 | €15,101 | €137,535 | +€122,434 | +811% |
| Trade receivables | 40 | €7,515 | €126,036 | +€118,521 | +1,577% |
| Other amounts receivable | 41 | €7,586 | €11,499 | +€3,913 | +51.6% |
| Cash at bank and in hand | 54/58 | €6,366 | €32 | -€6,335 | -99.5% |
| Deferred charges and accrued income | 490/1 | €98,820 | €56,997 | -€41,823 | -42.3% |
| Total equity and liabilities | 10/49 | €897,560 | €1,043,049 | +€145,489 | +16.2% |
| Equity | 10/15 | €349,642 | €171,940 | -€177,703 | -50.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €329,182 | €151,480 | -€177,703 | -54.0% |
| Amounts payable | 17/49 | €547,918 | €871,110 | +€323,192 | +59.0% |
| Amounts payable after more than one year | 17 | €333,642 | €234,172 | -€99,470 | -29.8% |
| Financial debts | 170/4 | €333,642 | €234,172 | -€99,470 | -29.8% |
| Amounts payable within one year | 42/48 | €209,869 | €636,706 | +€426,837 | +203% |
| Current portion of amounts payable after more than one year | 42 | €127,341 | €177,470 | +€50,129 | +39.4% |
| Financial debts | 43 | - | €3,426 | +€3,426 | |
| Credit institutions | 430/8 | - | €3,426 | +€3,426 | |
| Trade debts | 44 | €28,608 | €25,421 | -€3,187 | -11.1% |
| Suppliers | 440/4 | €28,608 | €25,421 | -€3,187 | -11.1% |
| Taxes, remuneration and social security | 45 | €52,162 | €52,861 | +€699 | +1.3% |
| Taxes | 450/3 | €13,024 | €13,076 | +€52 | +0.4% |
| Remuneration and social security | 454/9 | €39,138 | €39,785 | +€648 | +1.7% |
| Other amounts payable | 47/48 | €1,757 | €377,528 | +€375,771 | +21,385% |
| Accrued charges and deferred income | 492/3 | €4,408 | €232 | -€4,176 | -94.7% |
| Remuneration, social security and pensions | 62 | €249,229 | €260,282 | +€11,054 | +4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,873 | €65,404 | -€4,469 | -6.4% |
| Other operating charges | 640/8 | €32,213 | €3,937 | -€28,277 | -87.8% |
| Non-recurring operating charges | 66A | €673 | €287 | -€386 | -57.4% |
| Gross operating margin | 9900 | €507,159 | €499,597 | -€7,562 | -1.5% |
| Operating profit (loss) | 9901 | €155,171 | €169,688 | +€14,517 | +9.4% |
| Financial income | 75/76B | €550 | €63 | -€487 | -88.5% |
| Recurring financial income | 75 | €550 | €13 | -€537 | -97.6% |
| Non-recurring financial income | 76B | - | €50 | +€50 | |
| Financial charges | 65/66B | €9,280 | €6,850 | -€2,429 | -26.2% |
| Recurring financial charges | 65 | €9,280 | €6,850 | -€2,429 | -26.2% |
| Profit (loss) for the period before taxes | 9903 | €146,442 | €162,900 | +€16,459 | +11.2% |
| Income taxes | 67/77 | €37,038 | €40,603 | +€3,565 | +9.6% |
| Profit (loss) for the period | 9904 | €109,404 | €122,297 | +€12,894 | +11.8% |
| Profit (loss) for the period to be appropriated | 9905 | €109,404 | €122,297 | +€12,894 | +11.8% |
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 27 October 2026 via checked.be.