ELPEO: what changed
What changed
ELPEO
NACE 70.100, Activities of head offices
filed annual accounts (NBB)
Net result for the year
€755,153
2024 · €697,160+€57,993
Equity
€4.6m
2024 · €3.9m+€755,153
Cash
€161,714
2024 · €115,331+€46,382
Balance sheet total
€7.7m
2024 · €7.6m+€42,677
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Debts after one year -€758,332
down €758,332 (-24.7%), from €3.1m to €2.3m
- Reserves +€750,000
up €750,000 (+63.3%), from €1.2m to €1.9m
of which Distributable reserves: +€750,000
Income statement
- Gross operating margin +€40,575
up €40,575, from -€16,302 to €24,273
- Financial charges -€32,419
down €32,419 (-18.4%), from €176,421 to €144,002
- Financial income -€14,999
down €14,999 (-1.7%), from €890,000 to €875,001
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
€697,160
Gross operating margin
+€40,575
Other operating charges
-€2
Financial income
-€14,999
Financial charges
+€32,419
Result 2025
€755,153
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
+€804,732
Investment
€0
Financing
-€758,350
Cash 2024
€115,331
From operations (derived)
+€804,732
Net result for the year
+€755,153
Receivables within one year
+€2,955
Smaller working-capital items
+€2,403
Accrued charges and deferred income
+€44,222
Financing
-€758,350
Debts after one year
-€758,332
Short-term financial debts
-€18
Cash 2025
€161,714
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,626,993 | €7,669,670 | +€42,677 | +0.6% |
| Fixed assets | 21/28 | €7,500,000 | €7,500,000 | = | 0.0% |
| Financial fixed assets | 28 | €7,500,000 | €7,500,000 | = | 0.0% |
| Current assets | 29/58 | €126,993 | €169,670 | +€42,677 | +33.6% |
| Amounts receivable within one year | 40/41 | €10,911 | €7,956 | -€2,955 | -27.1% |
| Trade receivables | 40 | €7,674 | €7,956 | +€282 | +3.7% |
| Other amounts receivable | 41 | €3,237 | - | -€3,237 | |
| Cash at bank and in hand | 54/58 | €115,331 | €161,714 | +€46,382 | +40.2% |
| Deferred charges and accrued income | 490/1 | €750 | - | -€750 | |
| Total equity and liabilities | 10/49 | €7,626,993 | €7,669,670 | +€42,677 | +0.6% |
| Equity | 10/15 | €3,893,087 | €4,648,240 | +€755,153 | +19.4% |
| Contributions | 10/11 | €2,700,000 | €2,700,000 | = | 0.0% |
| Capital | 10 | €2,700,000 | €2,700,000 | = | 0.0% |
| Issued capital | 100 | €2,700,000 | €2,700,000 | = | 0.0% |
| Reserves | 13 | €1,185,000 | €1,935,000 | +€750,000 | +63.3% |
| Non-distributable reserves | 130/1 | €270,000 | €270,000 | = | 0.0% |
| Legal reserve | 130 | €270,000 | €270,000 | = | 0.0% |
| Distributable reserves | 133 | €915,000 | €1,665,000 | +€750,000 | +82.0% |
| Profit (loss) carried forward | 14 | €8,087 | €13,240 | +€5,153 | +63.7% |
| Amounts payable | 17/49 | €3,733,905 | €3,021,430 | -€712,475 | -19.1% |
| Amounts payable after more than one year | 17 | €3,075,004 | €2,316,672 | -€758,332 | -24.7% |
| Financial debts | 170/4 | €3,075,004 | €2,316,672 | -€758,332 | -24.7% |
| Amounts payable within one year | 42/48 | €539,169 | €540,804 | +€1,635 | +0.3% |
| Current portion of amounts payable after more than one year | 42 | €533,332 | €533,332 | = | 0.0% |
| Financial debts | 43 | €18 | - | -€18 | |
| Credit institutions | 430/8 | €18 | - | -€18 | |
| Trade debts | 44 | €5,819 | €5,883 | +€64 | +1.1% |
| Suppliers | 440/4 | €5,819 | €5,883 | +€64 | +1.1% |
| Taxes, remuneration and social security | 45 | - | €1,489 | +€1,489 | |
| Taxes | 450/3 | - | €1,489 | +€1,489 | |
| Other amounts payable | 47/48 | - | €100 | +€100 | |
| Accrued charges and deferred income | 492/3 | €119,733 | €163,954 | +€44,222 | +36.9% |
| Other operating charges | 640/8 | €118 | €120 | +€2 | +1.7% |
| Gross operating margin | 9900 | -€16,302 | €24,273 | +€40,575 | |
| Operating profit (loss) | 9901 | -€16,420 | €24,153 | +€40,573 | |
| Financial income | 75/76B | €890,000 | €875,001 | -€14,999 | -1.7% |
| Recurring financial income | 75 | €890,000 | €875,001 | -€14,999 | -1.7% |
| Financial charges | 65/66B | €176,421 | €144,002 | -€32,419 | -18.4% |
| Recurring financial charges | 65 | €176,421 | €144,002 | -€32,419 | -18.4% |
| Profit (loss) for the period before taxes | 9903 | €697,160 | €755,153 | +€57,993 | +8.3% |
| Profit (loss) for the period | 9904 | €697,160 | €755,153 | +€57,993 | +8.3% |
| Profit (loss) for the period to be appropriated | 9905 | €697,160 | €755,153 | +€57,993 | +8.3% |
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 8 November 2026 via checked.be.