ELRI: 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.
ELRI
Largest movements
- Receivables within one year +€213,853
up €213,853 (+171.4%), from €124,797 to €338,650
of which Other amounts receivable: +€177,553
- Receivables after one year -€33,000
down €33,000 (-48.5%), from €68,000 to €35,000
- Stocks and contracts +€16,500
new in 2025: €16,500
- Tangible fixed assets +€13,446
up €13,446 (+15.0%), from €89,558 to €103,004
of which Other tangible fixed assets: +€23,039
- Cash -€8,901
down €8,901 (-57.8%), from €15,387 to €6,486
mainly Receivables within one year (-€213,853) and Investment in fixed assets (net) (-€21,936)
- Reserves +€126,429
up €126,429 (+63.3%), from €199,730 to €326,159
of which Distributable reserves: +€126,429
- Tax, wage and social debts +€40,399
up €40,399 (+87.2%), from €46,352 to €86,751
- Other debts +€31,802
up €31,802 (+83.3%), from €38,191 to €69,994
- Gross operating margin +€76,945
up €76,945 (+71.8%), from €107,226 to €184,171
- Taxes +€19,086
up €19,086 (+76.3%), from €25,024 to €44,110
- Financial income +€6,469
up €6,469 (+109.8%), from €5,891 to €12,360
- Depreciation +€5,469
up €5,469 (+183.1%), from €2,987 to €8,456
- Financial charges +€4,195
up €4,195 (+674.3%), from €622 to €4,817
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 | €302,503 | €501,658 | +€199,154 | +65.8% |
| Fixed assets | 21/28 | €89,558 | €103,037 | +€13,479 | +15.1% |
| Tangible fixed assets | 22/27 | €89,558 | €103,004 | +€13,446 | +15.0% |
| Furniture and vehicles | 24 | €21,487 | €11,895 | -€9,592 | -44.6% |
| Other tangible fixed assets | 26 | €68,071 | €91,110 | +€23,039 | +33.8% |
| Financial fixed assets | 28 | - | €33 | +€33 | |
| Current assets | 29/58 | €212,945 | €398,620 | +€185,675 | +87.2% |
| Amounts receivable after more than one year | 29 | €68,000 | €35,000 | -€33,000 | -48.5% |
| Other amounts receivable | 291 | €68,000 | €35,000 | -€33,000 | -48.5% |
| Stocks and contracts in progress | 3 | - | €16,500 | +€16,500 | |
| Stocks | 30/36 | - | €16,500 | +€16,500 | |
| Amounts receivable within one year | 40/41 | €124,797 | €338,650 | +€213,853 | +171.4% |
| Trade receivables | 40 | - | €36,300 | +€36,300 | |
| Other amounts receivable | 41 | €124,797 | €302,350 | +€177,553 | +142.3% |
| Cash at bank and in hand | 54/58 | €15,387 | €6,486 | -€8,901 | -57.8% |
| Deferred charges and accrued income | 490/1 | €4,760 | €1,983 | -€2,777 | -58.3% |
| Total equity and liabilities | 10/49 | €302,503 | €501,658 | +€199,154 | +65.8% |
| Equity | 10/15 | €205,930 | €332,359 | +€126,429 | +61.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €199,730 | €326,159 | +€126,429 | +63.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €199,730 | €326,159 | +€126,429 | +63.3% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €96,573 | €169,299 | +€72,725 | +75.3% |
| Amounts payable within one year | 42/48 | €96,573 | €169,299 | +€72,725 | +75.3% |
| Trade debts | 44 | €12,030 | €12,554 | +€524 | +4.4% |
| Suppliers | 440/4 | €12,030 | €12,554 | +€524 | +4.4% |
| Taxes, remuneration and social security | 45 | €46,352 | €86,751 | +€40,399 | +87.2% |
| Taxes | 450/3 | €46,352 | €86,751 | +€40,399 | +87.2% |
| Other amounts payable | 47/48 | €38,191 | €69,994 | +€31,802 | +83.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,987 | €8,456 | +€5,469 | +183.1% |
| Other operating charges | 640/8 | €1,296 | €3,990 | +€2,694 | +207.9% |
| Non-recurring operating charges | 66A | - | €8,727 | +€8,727 | |
| Gross operating margin | 9900 | €107,226 | €184,171 | +€76,945 | +71.8% |
| Operating profit (loss) | 9901 | €102,943 | €162,997 | +€60,054 | +58.3% |
| Financial income | 75/76B | €5,891 | €12,360 | +€6,469 | +109.8% |
| Recurring financial income | 75 | €5,891 | €12,360 | +€6,469 | +109.8% |
| Financial charges | 65/66B | €622 | €4,817 | +€4,195 | +674.3% |
| Recurring financial charges | 65 | €622 | €4,817 | +€4,195 | +674.3% |
| Profit (loss) for the period before taxes | 9903 | €108,212 | €170,539 | +€62,327 | +57.6% |
| Income taxes | 67/77 | €25,024 | €44,110 | +€19,086 | +76.3% |
| Profit (loss) for the period | 9904 | €83,188 | €126,429 | +€43,242 | +52.0% |
| Profit (loss) for the period to be appropriated | 9905 | €83,188 | €126,429 | +€43,242 | +52.0% |
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 3 October 2026 via checked.be.