ELRUWE: 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.
ELRUWE
Largest movements
- Tangible fixed assets +€190,289
up €190,289 (+168%), from €113,183 to €303,471
of which Land and buildings: +€116,564
- Receivables within one year -€13,790
down €13,790 (-28.1%), from €49,117 to €35,327
of which Other amounts receivable: -€16,575
- Cash -€3,640
down €3,640 (-18.0%), from €20,246 to €16,607
mainly Investment in fixed assets (net) (-€218,307) and Net result for the year (-€51,318)
- Debts after one year +€186,941
up €186,941 (+208%), from €89,670 to €276,611
- Profit (loss) carried forward -€51,318
down €51,318, from €22,618 to -€28,700
- Trade debts +€22,250
up €22,250 (+695%), from €3,203 to €25,453
- Current portion of long-term debt +€6,982
up €6,982 (+46.6%), from €14,968 to €21,950
- Tax, wage and social debts +€6,400
up €6,400 (+164%), from €3,910 to €10,310
of which Remuneration and social security: +€5,768
- Gross operating margin -€36,071
down €36,071 (-39.4%), from €91,559 to €55,488
- Depreciation +€11,861
up €11,861 (+73.4%), from €16,157 to €28,018
- Staff costs -€10,447
down €10,447 (-15.7%), from €66,717 to €56,270
- Other operating charges +€5,386
up €5,386 (+231%), from €2,331 to €7,717
- Financial charges +€4,841
up €4,841 (+67.5%), from €7,175 to €12,016
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 | €185,777 | €355,405 | +€169,628 | +91.3% |
| Fixed assets | 21/28 | €113,183 | €303,471 | +€190,289 | +168% |
| Tangible fixed assets | 22/27 | €113,183 | €303,471 | +€190,289 | +168% |
| Land and buildings | 22 | €71,309 | €187,873 | +€116,564 | +163% |
| Plant, machinery and equipment | 23 | €3,216 | €44,087 | +€40,871 | +1,271% |
| Furniture and vehicles | 24 | €38,658 | €71,511 | +€32,854 | +85.0% |
| Current assets | 29/58 | €72,595 | €51,934 | -€20,661 | -28.5% |
| Amounts receivable within one year | 40/41 | €49,117 | €35,327 | -€13,790 | -28.1% |
| Trade receivables | 40 | €10,064 | €12,849 | +€2,785 | +27.7% |
| Other amounts receivable | 41 | €39,053 | €22,478 | -€16,575 | -42.4% |
| Cash at bank and in hand | 54/58 | €20,246 | €16,607 | -€3,640 | -18.0% |
| Deferred charges and accrued income | 490/1 | €3,231 | €0 | -€3,231 | -100% |
| Total equity and liabilities | 10/49 | €185,777 | €355,405 | +€169,628 | +91.3% |
| Equity | 10/15 | €71,134 | €19,816 | -€51,318 | -72.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €42,317 | €42,317 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €16,067 | €16,067 | = | 0.0% |
| Distributable reserves | 133 | €26,250 | €26,250 | = | 0.0% |
| Profit (loss) carried forward | 14 | €22,618 | -€28,700 | -€51,318 | |
| Amounts payable | 17/49 | €114,643 | €335,589 | +€220,946 | +193% |
| Amounts payable after more than one year | 17 | €89,670 | €276,611 | +€186,941 | +208% |
| Financial debts | 170/4 | €89,670 | €276,611 | +€186,941 | +208% |
| Amounts payable within one year | 42/48 | €22,081 | €57,713 | +€35,631 | +161% |
| Current portion of amounts payable after more than one year | 42 | €14,968 | €21,950 | +€6,982 | +46.6% |
| Trade debts | 44 | €3,203 | €25,453 | +€22,250 | +695% |
| Suppliers | 440/4 | €3,203 | €25,453 | +€22,250 | +695% |
| Taxes, remuneration and social security | 45 | €3,910 | €10,310 | +€6,400 | +164% |
| Taxes | 450/3 | €3,910 | €4,542 | +€632 | +16.2% |
| Remuneration and social security | 454/9 | - | €5,768 | +€5,768 | |
| Accrued charges and deferred income | 492/3 | €2,892 | €1,265 | -€1,627 | -56.3% |
| Non-recurring operating income | 76A | €45,270 | €0 | -€45,270 | -100% |
| Remuneration, social security and pensions | 62 | €66,717 | €56,270 | -€10,447 | -15.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,157 | €28,018 | +€11,861 | +73.4% |
| Other operating charges | 640/8 | €2,331 | €7,717 | +€5,386 | +231% |
| Gross operating margin | 9900 | €91,559 | €55,488 | -€36,071 | -39.4% |
| Operating profit (loss) | 9901 | €6,353 | -€36,517 | -€42,870 | |
| Financial income | 75/76B | €2,121 | €72 | -€2,049 | -96.6% |
| Recurring financial income | 75 | €2,121 | €72 | -€2,049 | -96.6% |
| Financial charges | 65/66B | €7,175 | €12,016 | +€4,841 | +67.5% |
| Recurring financial charges | 65 | €7,175 | €12,016 | +€4,841 | +67.5% |
| Profit (loss) for the period before taxes | 9903 | €1,299 | -€48,461 | -€49,760 | |
| Income taxes | 67/77 | €1,900 | €2,857 | +€957 | +50.3% |
| Profit (loss) for the period | 9904 | -€601 | -€51,318 | -€50,717 | -8,434% |
| Profit (loss) for the period to be appropriated | 9905 | -€601 | -€51,318 | -€50,717 | -8,434% |
Source: filed annual accounts (NBB), financial years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.