ELRA: 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.
ELRA
Largest movements
- Receivables within one year -€27,554
down €27,554 (-41.1%), from €67,122 to €39,568
of which Trade receivables: -€28,634
- Deferred charges and accrued income -€2,612
no longer reported in 2025 (was €2,612)
- Tangible fixed assets +€2,543
up €2,543 (+14.3%), from €17,841 to €20,383
of which Other tangible fixed assets: +€3,586
- Cash -€2,289
down €2,289 (-99.5%), from €2,301 to €12
mainly Net result for the year (-€18,290) and Tax, wage and social debts (-€9,234)
- Profit (loss) carried forward -€18,290
down €18,290, from €3,881 to -€14,410
- Tax, wage and social debts -€9,234
down €9,234 (-98.4%), from €9,384 to €150
- Trade debts -€3,877
down €3,877 (-65.8%), from €5,891 to €2,014
- Debts after one year -€3,626
down €3,626 (-61.4%), from €5,903 to €2,277
of which Financial debts: -€2,566
- Other debts +€2,869
up €2,869 (+14.0%), from €20,545 to €23,414
- Gross operating margin -€49,737
down €49,737, from €36,416 to -€13,321
- Taxes -€5,624
down €5,624, from €5,544 to -€80
- Other operating charges -€736
down €736 (-47.9%), from €1,535 to €799
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 | €95,109 | €65,196 | -€29,913 | -31.5% |
| Fixed assets | 21/28 | €17,841 | €20,383 | +€2,543 | +14.3% |
| Tangible fixed assets | 22/27 | €17,841 | €20,383 | +€2,543 | +14.3% |
| Furniture and vehicles | 24 | €3,149 | €2,105 | -€1,044 | -33.1% |
| Other tangible fixed assets | 26 | €14,692 | €18,278 | +€3,586 | +24.4% |
| Current assets | 29/58 | €77,268 | €44,813 | -€32,455 | -42.0% |
| Amounts receivable within one year | 40/41 | €67,122 | €39,568 | -€27,554 | -41.1% |
| Trade receivables | 40 | €66,323 | €37,690 | -€28,634 | -43.2% |
| Other amounts receivable | 41 | €799 | €1,879 | +€1,080 | +135.2% |
| Current investments | 50/53 | €5,233 | €5,233 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,301 | €12 | -€2,289 | -99.5% |
| Deferred charges and accrued income | 490/1 | €2,612 | - | -€2,612 | |
| Total equity and liabilities | 10/49 | €95,109 | €65,196 | -€29,913 | -31.5% |
| Equity | 10/15 | €49,831 | €31,540 | -€18,290 | -36.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €39,750 | €39,750 | = | 0.0% |
| Distributable reserves | 133 | €39,750 | €39,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,881 | -€14,410 | -€18,290 | |
| Amounts payable | 17/49 | €45,279 | €33,656 | -€11,623 | -25.7% |
| Amounts payable after more than one year | 17 | €5,903 | €2,277 | -€3,626 | -61.4% |
| Financial debts | 170/4 | €4,305 | €1,739 | -€2,566 | -59.6% |
| Other amounts payable | 178/9 | €1,599 | €538 | -€1,061 | -66.3% |
| Amounts payable within one year | 42/48 | €39,375 | €31,379 | -€7,996 | -20.3% |
| Current portion of amounts payable after more than one year | 42 | €3,555 | €3,626 | +€71 | +2.0% |
| Financial debts | 43 | - | €2,174 | +€2,174 | |
| Credit institutions | 430/8 | - | €2,174 | +€2,174 | |
| Trade debts | 44 | €5,891 | €2,014 | -€3,877 | -65.8% |
| Suppliers | 440/4 | €5,891 | €2,014 | -€3,877 | -65.8% |
| Taxes, remuneration and social security | 45 | €9,384 | €150 | -€9,234 | -98.4% |
| Taxes | 450/3 | €9,384 | €150 | -€9,234 | -98.4% |
| Other amounts payable | 47/48 | €20,545 | €23,414 | +€2,869 | +14.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,958 | €3,772 | -€186 | -4.7% |
| Other operating charges | 640/8 | €1,535 | €799 | -€736 | -47.9% |
| Gross operating margin | 9900 | €36,416 | -€13,321 | -€49,737 | |
| Operating profit (loss) | 9901 | €30,923 | -€17,892 | -€48,815 | |
| Financial income | 75/76B | €39 | €45 | +€5 | +13.6% |
| Recurring financial income | 75 | €39 | €45 | +€5 | +13.6% |
| Financial charges | 65/66B | €697 | €522 | -€175 | -25.1% |
| Recurring financial charges | 65 | €697 | €522 | -€175 | -25.1% |
| Profit (loss) for the period before taxes | 9903 | €30,265 | -€18,370 | -€48,635 | |
| Income taxes | 67/77 | €5,544 | -€80 | -€5,624 | |
| Profit (loss) for the period | 9904 | €24,721 | -€18,290 | -€43,011 | |
| Profit (loss) for the period to be appropriated | 9905 | €24,721 | -€18,290 | -€43,011 |
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 8 October 2026 via checked.be.