ELSATAX: 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.
ELSATAX
Largest movements
- Cash +€42,158
up €42,158 (+63.0%), from €66,951 to €109,110
mainly Trade debts (+€17,365) and Depreciation (+€11,790)
- Tangible fixed assets -€11,790
down €11,790 (-19.8%), from €59,399 to €47,609
- Receivables within one year -€10,591
down €10,591 (-7.9%), from €133,335 to €122,745
of which Trade receivables: -€16,568
- Deferred charges and accrued income +€4,302
new in 2025: €4,302
- Trade debts +€17,365
up €17,365 (+58.6%), from €29,655 to €47,019
- Profit (loss) carried forward +€8,396
up €8,396 (+5.9%), from €141,213 to €149,609
- Other debts -€3,231
down €3,231 (-40.6%), from €7,966 to €4,735
- Staff costs +€12,240
up €12,240 (+7.0%), from €174,249 to €186,490
- Gross operating margin -€9,087
down €9,087 (-4.0%), from €229,014 to €219,927
- Taxes -€7,778
down €7,778 (-67.8%), from €11,476 to €3,698
- Depreciation +€4,099
up €4,099 (+53.3%), from €7,691 to €11,790
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 | €259,896 | €283,975 | +€24,079 | +9.3% |
| Fixed assets | 21/28 | €59,609 | €47,819 | -€11,790 | -19.8% |
| Tangible fixed assets | 22/27 | €59,399 | €47,609 | -€11,790 | -19.8% |
| Furniture and vehicles | 24 | €59,399 | €47,609 | -€11,790 | -19.8% |
| Financial fixed assets | 28 | €210 | €210 | = | 0.0% |
| Current assets | 29/58 | €200,287 | €236,156 | +€35,869 | +17.9% |
| Amounts receivable within one year | 40/41 | €133,335 | €122,745 | -€10,591 | -7.9% |
| Trade receivables | 40 | €70,821 | €54,253 | -€16,568 | -23.4% |
| Other amounts receivable | 41 | €62,515 | €68,492 | +€5,977 | +9.6% |
| Cash at bank and in hand | 54/58 | €66,951 | €109,110 | +€42,158 | +63.0% |
| Deferred charges and accrued income | 490/1 | - | €4,302 | +€4,302 | |
| Total equity and liabilities | 10/49 | €259,896 | €283,975 | +€24,079 | +9.3% |
| Equity | 10/15 | €161,664 | €170,060 | +€8,396 | +5.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €141,213 | €149,609 | +€8,396 | +5.9% |
| Amounts payable | 17/49 | €98,232 | €113,915 | +€15,683 | +16.0% |
| Amounts payable within one year | 42/48 | €95,774 | €111,457 | +€15,683 | +16.4% |
| Trade debts | 44 | €29,655 | €47,019 | +€17,365 | +58.6% |
| Suppliers | 440/4 | €29,655 | €47,019 | +€17,365 | +58.6% |
| Taxes, remuneration and social security | 45 | €58,154 | €59,703 | +€1,549 | +2.7% |
| Taxes | 450/3 | €26,774 | €11,799 | -€14,974 | -55.9% |
| Remuneration and social security | 454/9 | €31,380 | €47,903 | +€16,524 | +52.7% |
| Other amounts payable | 47/48 | €7,966 | €4,735 | -€3,231 | -40.6% |
| Accrued charges and deferred income | 492/3 | €2,457 | €2,457 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €174,249 | €186,490 | +€12,240 | +7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,691 | €11,790 | +€4,099 | +53.3% |
| Other operating charges | 640/8 | €6,753 | €8,164 | +€1,411 | +20.9% |
| Gross operating margin | 9900 | €229,014 | €219,927 | -€9,087 | -4.0% |
| Operating profit (loss) | 9901 | €40,321 | €13,483 | -€26,838 | -66.6% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €1,571 | €1,388 | -€183 | -11.7% |
| Recurring financial charges | 65 | €1,571 | €1,388 | -€183 | -11.7% |
| Profit (loss) for the period before taxes | 9903 | €38,749 | €12,094 | -€26,655 | -68.8% |
| Income taxes | 67/77 | €11,476 | €3,698 | -€7,778 | -67.8% |
| Profit (loss) for the period | 9904 | €27,273 | €8,396 | -€18,877 | -69.2% |
| Profit (loss) for the period to be appropriated | 9905 | €27,273 | €8,396 | -€18,877 | -69.2% |
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 17 October 2026 via checked.be.