ELPERS & ZN: 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.
ELPERS & ZN
Largest movements
- Cash +€111,285
up €111,285 (+48.5%), from €229,642 to €340,927
mainly Net result for the year (+€120,250) and Receivables within one year (+€44,995)
- Receivables within one year -€44,995
down €44,995 (-23.0%), from €195,793 to €150,798
of which Trade receivables: -€35,833
- Tangible fixed assets -€28,307
down €28,307 (-34.4%), from €82,407 to €54,100
of which Furniture and vehicles: -€18,340
- Stocks and contracts +€6,200
up €6,200 (+28.1%), from €22,095 to €28,295
- Profit (loss) carried forward +€120,250
up €120,250 (+55.3%), from €217,589 to €337,839
- Other debts -€90,264
down €90,264 (-40.6%), from €222,277 to €132,013
- Tax, wage and social debts +€13,876
up €13,876 (+665%), from €2,086 to €15,961
of which Taxes: +€13,200
- Gross operating margin +€7,561
up €7,561 (+4.2%), from €179,093 to €186,654
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 | €531,678 | €574,121 | +€42,442 | +8.0% |
| Fixed assets | 21/28 | €82,407 | €54,100 | -€28,307 | -34.4% |
| Tangible fixed assets | 22/27 | €82,407 | €54,100 | -€28,307 | -34.4% |
| Land and buildings | 22 | €24,708 | €20,831 | -€3,876 | -15.7% |
| Plant, machinery and equipment | 23 | €21,846 | €15,755 | -€6,091 | -27.9% |
| Furniture and vehicles | 24 | €35,854 | €17,514 | -€18,340 | -51.2% |
| Current assets | 29/58 | €449,271 | €520,020 | +€70,749 | +15.7% |
| Stocks and contracts in progress | 3 | €22,095 | €28,295 | +€6,200 | +28.1% |
| Stocks | 30/36 | €22,095 | €28,295 | +€6,200 | +28.1% |
| Amounts receivable within one year | 40/41 | €195,793 | €150,798 | -€44,995 | -23.0% |
| Trade receivables | 40 | €168,410 | €132,577 | -€35,833 | -21.3% |
| Other amounts receivable | 41 | €27,383 | €18,221 | -€9,162 | -33.5% |
| Cash at bank and in hand | 54/58 | €229,642 | €340,927 | +€111,285 | +48.5% |
| Deferred charges and accrued income | 490/1 | €1,740 | - | -€1,740 | |
| Total equity and liabilities | 10/49 | €531,678 | €574,121 | +€42,442 | +8.0% |
| Equity | 10/15 | €237,980 | €358,230 | +€120,250 | +50.5% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €16,390 | €16,390 | = | 0.0% |
| Distributable reserves | 133 | €16,390 | €16,390 | = | 0.0% |
| Profit (loss) carried forward | 14 | €217,589 | €337,839 | +€120,250 | +55.3% |
| Amounts payable | 17/49 | €293,699 | €215,891 | -€77,808 | -26.5% |
| Amounts payable within one year | 42/48 | €293,699 | €215,891 | -€77,808 | -26.5% |
| Trade debts | 44 | €69,336 | €67,917 | -€1,419 | -2.0% |
| Suppliers | 440/4 | €69,336 | €67,917 | -€1,419 | -2.0% |
| Taxes, remuneration and social security | 45 | €2,086 | €15,961 | +€13,876 | +665% |
| Taxes | 450/3 | €2,086 | €15,285 | +€13,200 | +633% |
| Remuneration and social security | 454/9 | - | €676 | +€676 | |
| Other amounts payable | 47/48 | €222,277 | €132,013 | -€90,264 | -40.6% |
| Remuneration, social security and pensions | 62 | €1,629 | €1,181 | -€448 | -27.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,292 | €29,506 | +€214 | +0.7% |
| Other operating charges | 640/8 | €3,884 | €2,955 | -€929 | -23.9% |
| Gross operating margin | 9900 | €179,093 | €186,654 | +€7,561 | +4.2% |
| Operating profit (loss) | 9901 | €144,288 | €153,012 | +€8,725 | +6.0% |
| Financial charges | 65/66B | €829 | €728 | -€101 | -12.2% |
| Recurring financial charges | 65 | €829 | €728 | -€101 | -12.2% |
| Profit (loss) for the period before taxes | 9903 | €143,459 | €152,284 | +€8,826 | +6.2% |
| Income taxes | 67/77 | €32,350 | €32,034 | -€316 | -1.0% |
| Profit (loss) for the period | 9904 | €111,109 | €120,250 | +€9,141 | +8.2% |
| Profit (loss) for the period to be appropriated | 9905 | €111,109 | €120,250 | +€9,141 | +8.2% |
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 19 October 2026 via checked.be.