ELSEN CONSULTING: 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.
ELSEN CONSULTING
Largest movements
- Cash +€48,800
up €48,800 (+71.5%), from €68,259 to €117,059
mainly Net result for the year (+€56,386) and Depreciation (+€19,575)
- Tangible fixed assets -€19,575
down €19,575 (-26.3%), from €74,372 to €54,797
of which Furniture and vehicles: -€18,380
- Receivables within one year -€18,073
down €18,073 (-98.9%), from €18,269 to €196
of which Trade receivables: -€17,197
- Stocks and contracts +€3,194
up €3,194 (+83.3%), from €3,835 to €7,030
- Other debts +€14,290
up €14,290 (+41.3%), from €34,633 to €48,923
- Tax, wage and social debts +€4,067
up €4,067 (+24.6%), from €16,549 to €20,616
- Current portion of long-term debt -€3,672
down €3,672 (-100%), from €3,672 to €0
- Gross operating margin +€15,580
up €15,580 (+20.1%), from €77,468 to €93,048
- Taxes +€3,528
up €3,528 (+29.7%), from €11,881 to €15,410
- Depreciation -€2,982
down €2,982 (-13.2%), from €22,557 to €19,575
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 | €168,178 | €182,870 | +€14,692 | +8.7% |
| Fixed assets | 21/28 | €74,372 | €54,797 | -€19,575 | -26.3% |
| Tangible fixed assets | 22/27 | €74,372 | €54,797 | -€19,575 | -26.3% |
| Plant, machinery and equipment | 23 | €4,342 | €3,148 | -€1,194 | -27.5% |
| Furniture and vehicles | 24 | €70,029 | €51,649 | -€18,380 | -26.2% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Current assets | 29/58 | €93,806 | €128,073 | +€34,267 | +36.5% |
| Stocks and contracts in progress | 3 | €3,835 | €7,030 | +€3,194 | +83.3% |
| Stocks | 30/36 | €3,835 | €7,030 | +€3,194 | +83.3% |
| Amounts receivable within one year | 40/41 | €18,269 | €196 | -€18,073 | -98.9% |
| Trade receivables | 40 | €17,274 | €77 | -€17,197 | -99.6% |
| Other amounts receivable | 41 | €995 | €119 | -€876 | -88.1% |
| Cash at bank and in hand | 54/58 | €68,259 | €117,059 | +€48,800 | +71.5% |
| Deferred charges and accrued income | 490/1 | €3,443 | €3,788 | +€345 | +10.0% |
| Total equity and liabilities | 10/49 | €168,178 | €182,870 | +€14,692 | +8.7% |
| Equity | 10/15 | €109,956 | €109,956 | = | 0.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €108,956 | €108,956 | = | 0.0% |
| Distributable reserves | 133 | €108,956 | €108,956 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €58,222 | €72,914 | +€14,692 | +25.2% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €58,184 | €72,876 | +€14,692 | +25.3% |
| Current portion of amounts payable after more than one year | 42 | €3,672 | €0 | -€3,672 | -100% |
| Financial debts | 43 | €6 | €0 | -€6 | -100% |
| Credit institutions | 430/8 | €6 | €0 | -€6 | -100% |
| Trade debts | 44 | €3,324 | €3,338 | +€14 | +0.4% |
| Suppliers | 440/4 | €3,324 | €3,338 | +€14 | +0.4% |
| Taxes, remuneration and social security | 45 | €16,549 | €20,616 | +€4,067 | +24.6% |
| Taxes | 450/3 | €16,549 | €20,616 | +€4,067 | +24.6% |
| Other amounts payable | 47/48 | €34,633 | €48,923 | +€14,290 | +41.3% |
| Accrued charges and deferred income | 492/3 | €37 | €37 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,557 | €19,575 | -€2,982 | -13.2% |
| Other operating charges | 640/8 | €2,027 | €1,442 | -€585 | -28.9% |
| Gross operating margin | 9900 | €77,468 | €93,048 | +€15,580 | +20.1% |
| Operating profit (loss) | 9901 | €52,884 | €72,032 | +€19,148 | +36.2% |
| Financial income | 75/76B | €1 | €51 | +€50 | +10,022% |
| Recurring financial income | 75 | €1 | €51 | +€50 | +10,022% |
| Financial charges | 65/66B | €371 | €286 | -€84 | -22.8% |
| Recurring financial charges | 65 | €371 | €286 | -€84 | -22.8% |
| Profit (loss) for the period before taxes | 9903 | €52,514 | €71,796 | +€19,283 | +36.7% |
| Income taxes | 67/77 | €11,881 | €15,410 | +€3,528 | +29.7% |
| Profit (loss) for the period | 9904 | €40,632 | €56,386 | +€15,754 | +38.8% |
| Profit (loss) for the period to be appropriated | 9905 | €40,632 | €56,386 | +€15,754 | +38.8% |
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 28 October 2026 via checked.be.