ELRON: 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.
ELRON
Largest movements
- Cash +€85,686
up €85,686 (+108.3%), from €79,092 to €164,778
mainly Net result for the year (+€48,814) and Trade debts (+€19,531)
- Receivables within one year +€12,993
up €12,993 (+44.1%), from €29,495 to €42,488
of which Trade receivables: +€12,993
- Intangible fixed assets -€12,687
down €12,687 (-47.8%), from €26,533 to €13,846
- Reserves +€48,814
up €48,814 (+93.8%), from €52,060 to €100,874
- Trade debts +€19,531
up €19,531 (+241.9%), from €8,075 to €27,607
- Tax, wage and social debts +€19,450
up €19,450 (+77.8%), from €24,985 to €44,435
- Gross operating margin -€2,743
down €2,743 (-3.2%), from €85,445 to €82,703
- Depreciation -€1,587
down €1,587 (-11.1%), from €14,274 to €12,687
- Staff costs +€1,423
new in 2025: €1,423
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 | €135,120 | €222,915 | +€87,795 | +65.0% |
| Fixed assets | 21/28 | €26,533 | €13,846 | -€12,687 | -47.8% |
| Intangible fixed assets | 21 | €26,533 | €13,846 | -€12,687 | -47.8% |
| Current assets | 29/58 | €108,587 | €209,069 | +€100,482 | +92.5% |
| Amounts receivable within one year | 40/41 | €29,495 | €42,488 | +€12,993 | +44.1% |
| Trade receivables | 40 | €26,889 | €39,882 | +€12,993 | +48.3% |
| Other amounts receivable | 41 | €2,606 | €2,606 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €79,092 | €164,778 | +€85,686 | +108.3% |
| Deferred charges and accrued income | 490/1 | - | €1,803 | +€1,803 | |
| Total equity and liabilities | 10/49 | €135,120 | €222,915 | +€87,795 | +65.0% |
| Equity | 10/15 | €102,060 | €150,874 | +€48,814 | +47.8% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €52,060 | €100,874 | +€48,814 | +93.8% |
| Distributable reserves | 133 | €52,060 | €100,874 | +€48,814 | +93.8% |
| Amounts payable | 17/49 | €33,060 | €72,041 | +€38,981 | +117.9% |
| Amounts payable within one year | 42/48 | €33,060 | €72,041 | +€38,981 | +117.9% |
| Trade debts | 44 | €8,075 | €27,607 | +€19,531 | +241.9% |
| Suppliers | 440/4 | €8,075 | €27,607 | +€19,531 | +241.9% |
| Taxes, remuneration and social security | 45 | €24,985 | €44,435 | +€19,450 | +77.8% |
| Taxes | 450/3 | €24,985 | €44,435 | +€19,450 | +77.8% |
| Remuneration, social security and pensions | 62 | - | €1,423 | +€1,423 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,274 | €12,687 | -€1,587 | -11.1% |
| Other operating charges | 640/8 | €219 | €315 | +€96 | +43.8% |
| Gross operating margin | 9900 | €85,445 | €82,703 | -€2,743 | -3.2% |
| Operating profit (loss) | 9901 | €70,952 | €68,278 | -€2,674 | -3.8% |
| Financial income | 75/76B | €213 | €233 | +€19 | +9.1% |
| Recurring financial income | 75 | €213 | €233 | +€19 | +9.1% |
| Financial charges | 65/66B | €131 | €67 | -€64 | -49.1% |
| Recurring financial charges | 65 | €131 | €67 | -€64 | -49.1% |
| Profit (loss) for the period before taxes | 9903 | €71,034 | €68,444 | -€2,591 | -3.6% |
| Income taxes | 67/77 | €18,974 | €19,630 | +€656 | +3.5% |
| Profit (loss) for the period | 9904 | €52,060 | €48,814 | -€3,246 | -6.2% |
| Profit (loss) for the period to be appropriated | 9905 | €52,060 | €48,814 | -€3,246 | -6.2% |
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 10 October 2026 via checked.be.