ELSACY: 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.
ELSACY
Largest movements
- Financial fixed assets +€87,830
up €87,830 (+2.9%), from €3.0m to €3.1m
- Cash +€34,160
up €34,160 (+95.0%), from €35,943 to €70,103
mainly Other debts (+€846,860) and Net result for the year (+€117,806)
- Other debts +€846,860
new in 2025: €846,860
- Profit (loss) carried forward -€729,055
no longer reported in 2025 (was €729,055)
- Financial income -€2.8m
down €2.8m (-96.4%), from €2.9m to €104,089
of which Non-recurring financial income: -€2.8m
- Gross operating margin +€234,122
up €234,122, from -€219,210 to €14,912
- Financial charges -€9,672
down €9,672 (-99.5%), from €9,725 to €53
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 | €3,182,841 | €3,300,647 | +€117,805 | +3.7% |
| Fixed assets | 21/28 | €3,047,239 | €3,135,068 | +€87,830 | +2.9% |
| Financial fixed assets | 28 | €3,047,239 | €3,135,068 | +€87,830 | +2.9% |
| Current assets | 29/58 | €135,602 | €165,578 | +€29,976 | +22.1% |
| Amounts receivable within one year | 40/41 | €12,092 | €6,424 | -€5,668 | -46.9% |
| Trade receivables | 40 | €4,538 | €4,538 | = | 0.0% |
| Other amounts receivable | 41 | €7,555 | €1,887 | -€5,668 | -75.0% |
| Cash at bank and in hand | 54/58 | €35,943 | €70,103 | +€34,160 | +95.0% |
| Deferred charges and accrued income | 490/1 | €87,567 | €89,050 | +€1,484 | +1.7% |
| Total equity and liabilities | 10/49 | €3,182,841 | €3,300,647 | +€117,805 | +3.7% |
| Equity | 10/15 | €3,182,055 | €2,453,000 | -€729,055 | -22.9% |
| Contributions | 10/11 | €2,230,000 | €2,230,000 | = | 0.0% |
| Capital | 10 | €2,230,000 | €2,230,000 | = | 0.0% |
| Issued capital | 100 | €2,230,000 | €2,230,000 | = | 0.0% |
| Reserves | 13 | €223,000 | €223,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €223,000 | €223,000 | = | 0.0% |
| Legal reserve | 130 | €223,000 | €223,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €729,055 | - | -€729,055 | |
| Amounts payable | 17/49 | €786 | €847,647 | +€846,860 | +107,694% |
| Amounts payable within one year | 42/48 | €786 | €847,647 | +€846,860 | +107,694% |
| Taxes, remuneration and social security | 45 | €786 | €786 | -€0 | 0.0% |
| Taxes | 450/3 | €786 | €786 | -€0 | 0.0% |
| Other amounts payable | 47/48 | - | €846,860 | +€846,860 | |
| Other operating charges | 640/8 | €1,086 | €1,143 | +€57 | +5.3% |
| Gross operating margin | 9900 | -€219,210 | €14,912 | +€234,122 | |
| Operating profit (loss) | 9901 | -€220,295 | €13,770 | +€234,065 | |
| Financial income | 75/76B | €2,878,598 | €104,089 | -€2.8m | -96.4% |
| Recurring financial income | 75 | €93,856 | €104,089 | +€10,232 | +10.9% |
| Non-recurring financial income | 76B | €2,784,742 | - | -€2.8m | |
| Financial charges | 65/66B | €9,725 | €53 | -€9,672 | -99.5% |
| Recurring financial charges | 65 | €9,725 | €53 | -€9,672 | -99.5% |
| Profit (loss) for the period before taxes | 9903 | €2,648,578 | €117,806 | -€2.5m | -95.6% |
| Profit (loss) for the period | 9904 | €2,648,578 | €117,806 | -€2.5m | -95.6% |
| Profit (loss) for the period to be appropriated | 9905 | €2,648,578 | €117,806 | -€2.5m | -95.6% |
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 20 October 2026 via checked.be.