ElPeCo: 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.
ElPeCo
Largest movements
- Tangible fixed assets -€12,407
down €12,407 (-3.7%), from €338,731 to €326,324
- Cash -€5,352
down €5,352 (-41.8%), from €12,814 to €7,462
mainly Debts after one year (-€48,428) and Receivables within one year (-€136)
- Debts after one year -€48,428
down €48,428 (-17.0%), from €284,508 to €236,080
- Other debts +€20,237
up €20,237 (+105.7%), from €19,139 to €39,376
- Reserves +€10,075
up €10,075 (+44.4%), from €22,685 to €32,759
- Gross operating margin +€2,468
up €2,468 (+8.1%), from €30,485 to €32,954
- Taxes +€2,404
up €2,404 (+250.5%), from €960 to €3,364
- Financial charges -€419
down €419 (-5.6%), from €7,528 to €7,109
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.
Cash bridge derived
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 | €351,766 | €334,143 | -€17,623 | -5.0% |
| Fixed assets | 21/28 | €338,731 | €326,324 | -€12,407 | -3.7% |
| Tangible fixed assets | 22/27 | €338,731 | €326,324 | -€12,407 | -3.7% |
| Land and buildings | 22 | €338,731 | €326,324 | -€12,407 | -3.7% |
| Current assets | 29/58 | €13,035 | €7,819 | -€5,216 | -40.0% |
| Amounts receivable within one year | 40/41 | €40 | €176 | +€136 | +338.9% |
| Other amounts receivable | 41 | €40 | €176 | +€136 | +338.9% |
| Cash at bank and in hand | 54/58 | €12,814 | €7,462 | -€5,352 | -41.8% |
| Deferred charges and accrued income | 490/1 | €180 | €180 | = | 0.0% |
| Total equity and liabilities | 10/49 | €351,766 | €334,143 | -€17,623 | -5.0% |
| Equity | 10/15 | €30,185 | €40,259 | +€10,075 | +33.4% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €22,685 | €32,759 | +€10,075 | +44.4% |
| Distributable reserves | 133 | €22,685 | €32,759 | +€10,075 | +44.4% |
| Amounts payable | 17/49 | €321,581 | €293,883 | -€27,697 | -8.6% |
| Amounts payable after more than one year | 17 | €284,508 | €236,080 | -€48,428 | -17.0% |
| Financial debts | 170/4 | €284,508 | €236,080 | -€48,428 | -17.0% |
| Amounts payable within one year | 42/48 | €37,073 | €57,803 | +€20,731 | +55.9% |
| Current portion of amounts payable after more than one year | 42 | €17,934 | €18,428 | +€493 | +2.8% |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €19,139 | €39,376 | +€20,237 | +105.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,123 | €12,407 | +€284 | +2.3% |
| Other operating charges | 640/8 | €277 | €0 | -€277 | -100.0% |
| Gross operating margin | 9900 | €30,485 | €32,954 | +€2,468 | +8.1% |
| Operating profit (loss) | 9901 | €18,086 | €20,547 | +€2,461 | +13.6% |
| Financial charges | 65/66B | €7,528 | €7,109 | -€419 | -5.6% |
| Recurring financial charges | 65 | €7,528 | €7,109 | -€419 | -5.6% |
| Profit (loss) for the period before taxes | 9903 | €10,558 | €13,438 | +€2,880 | +27.3% |
| Income taxes | 67/77 | €960 | €3,364 | +€2,404 | +250.5% |
| Profit (loss) for the period | 9904 | €9,598 | €10,075 | +€476 | +5.0% |
| Profit (loss) for the period to be appropriated | 9905 | €9,598 | €10,075 | +€476 | +5.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.