ELSAFLO: 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.
ELSAFLO
Largest movements
- Cash +€45,573
up €45,573 (+87.3%), from €52,214 to €97,787
mainly Net result for the year (+€34,767) and Receivables within one year (+€8,337)
- Receivables within one year -€8,337
down €8,337 (-26.0%), from €32,036 to €23,699
of which Trade receivables: -€13,658
- Profit (loss) carried forward +€34,767
up €34,767 (+52.0%), from €66,865 to €101,632
- Other debts +€2,964
up €2,964 (+6020.4%), from €49 to €3,013
- Tax, wage and social debts -€1,490
down €1,490 (-23.2%), from €6,434 to €4,944
- Turnover -€8,314
down €8,314 (-8.5%), from €97,757 to €89,443
- Gross operating margin -€7,236
down €7,236 (-13.1%), from €55,081 to €47,845
- Taxes -€1,805
down €1,805 (-12.9%), from €13,984 to €12,179
- Purchases and services -€1,078
down €1,078 (-2.5%), from €42,676 to €41,598
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 | €87,028 | €123,473 | +€36,445 | +41.9% |
| Fixed assets | 21/28 | €2,778 | €1,987 | -€791 | -28.5% |
| Tangible fixed assets | 22/27 | €2,778 | €1,987 | -€791 | -28.5% |
| Furniture and vehicles | 24 | €2,778 | €1,987 | -€791 | -28.5% |
| Current assets | 29/58 | €84,250 | €121,486 | +€37,236 | +44.2% |
| Amounts receivable within one year | 40/41 | €32,036 | €23,699 | -€8,337 | -26.0% |
| Trade receivables | 40 | €32,036 | €18,378 | -€13,658 | -42.6% |
| Other amounts receivable | 41 | - | €5,321 | +€5,321 | |
| Cash at bank and in hand | 54/58 | €52,214 | €97,787 | +€45,573 | +87.3% |
| Total equity and liabilities | 10/49 | €87,028 | €123,473 | +€36,445 | +41.9% |
| Equity | 10/15 | €79,265 | €114,032 | +€34,767 | +43.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €66,865 | €101,632 | +€34,767 | +52.0% |
| Amounts payable | 17/49 | €7,763 | €9,441 | +€1,678 | +21.6% |
| Amounts payable within one year | 42/48 | €7,763 | €9,441 | +€1,678 | +21.6% |
| Trade debts | 44 | €1,280 | €1,484 | +€204 | +15.9% |
| Suppliers | 440/4 | €1,280 | €1,484 | +€204 | +15.9% |
| Taxes, remuneration and social security | 45 | €6,434 | €4,944 | -€1,490 | -23.2% |
| Taxes | 450/3 | €6,434 | €4,944 | -€1,490 | -23.2% |
| Other amounts payable | 47/48 | €49 | €3,013 | +€2,964 | +6020.4% |
| Turnover | 70 | €97,757 | €89,443 | -€8,314 | -8.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €42,676 | €41,598 | -€1,078 | -2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €791 | €791 | = | 0.0% |
| Other operating charges | 640/8 | €80 | €80 | = | 0.0% |
| Gross operating margin | 9900 | €55,081 | €47,845 | -€7,236 | -13.1% |
| Operating profit (loss) | 9901 | €54,209 | €46,973 | -€7,236 | -13.3% |
| Financial charges | 65/66B | €45 | €27 | -€18 | -40.0% |
| Recurring financial charges | 65 | €45 | €27 | -€18 | -40.0% |
| Profit (loss) for the period before taxes | 9903 | €54,164 | €46,946 | -€7,218 | -13.3% |
| Income taxes | 67/77 | €13,984 | €12,179 | -€1,805 | -12.9% |
| Profit (loss) for the period | 9904 | €40,181 | €34,767 | -€5,414 | -13.5% |
| Profit (loss) for the period to be appropriated | 9905 | €40,181 | €34,767 | -€5,414 | -13.5% |
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 5 October 2026 via checked.be.