ELSEN EQUIPMENT: 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 EQUIPMENT
Largest movements
- Cash +€363,343
up €363,343 (+196%), from €185,809 to €549,152
mainly Stocks and contracts (+€322,019) and Trade debts (+€290,463)
- Stocks and contracts -€322,019
down €322,019 (-23.7%), from €1.4m to €1.0m
- Receivables within one year +€244,359
up €244,359 (+25.9%), from €945,107 to €1.2m
of which Trade receivables: +€236,947
- Trade debts +€290,463
up €290,463 (+58.5%), from €496,512 to €786,975
- Profit (loss) carried forward +€72,672
up €72,672 (+21.7%), from €335,468 to €408,140
- Tax, wage and social debts -€45,291
down €45,291 (-45.3%), from €100,074 to €54,782
- Gross operating margin -€70,037
down €70,037 (-26.3%), from €266,525 to €196,488
- Taxes -€19,506
down €19,506 (-29.1%), from €67,064 to €47,557
- Financial charges +€4,447
up €4,447 (+590%), from €754 to €5,201
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 | €2,490,560 | €2,776,621 | +€286,062 | +11.5% |
| Current assets | 29/58 | €2,490,560 | €2,776,621 | +€286,062 | +11.5% |
| Stocks and contracts in progress | 3 | €1,359,644 | €1,037,625 | -€322,019 | -23.7% |
| Stocks | 30/36 | €1,359,644 | €1,037,625 | -€322,019 | -23.7% |
| Amounts receivable within one year | 40/41 | €945,107 | €1,189,466 | +€244,359 | +25.9% |
| Trade receivables | 40 | €945,076 | €1,182,023 | +€236,947 | +25.1% |
| Other amounts receivable | 41 | €32 | €7,443 | +€7,411 | +23,528% |
| Cash at bank and in hand | 54/58 | €185,809 | €549,152 | +€363,343 | +196% |
| Deferred charges and accrued income | 490/1 | - | €379 | +€379 | |
| Total equity and liabilities | 10/49 | €2,490,560 | €2,776,621 | +€286,062 | +11.5% |
| Equity | 10/15 | €1,624,273 | €1,696,945 | +€72,672 | +4.5% |
| Contributions | 10/11 | €607,100 | €607,100 | = | 0.0% |
| Capital | 10 | €607,100 | €607,100 | = | 0.0% |
| Issued capital | 100 | €607,100 | €607,100 | = | 0.0% |
| Reserves | 13 | €681,704 | €681,704 | = | 0.0% |
| Non-distributable reserves | 130/1 | €60,710 | €60,710 | = | 0.0% |
| Legal reserve | 130 | €60,710 | €60,710 | = | 0.0% |
| Distributable reserves | 133 | €620,994 | €620,994 | = | 0.0% |
| Profit (loss) carried forward | 14 | €335,468 | €408,140 | +€72,672 | +21.7% |
| Amounts payable | 17/49 | €866,287 | €1,079,677 | +€213,390 | +24.6% |
| Amounts payable within one year | 42/48 | €866,287 | €1,079,677 | +€213,390 | +24.6% |
| Financial debts | 43 | €37,629 | €10,097 | -€27,532 | -73.2% |
| Credit institutions | 430/8 | €37,629 | €10,097 | -€27,532 | -73.2% |
| Trade debts | 44 | €496,512 | €786,975 | +€290,463 | +58.5% |
| Suppliers | 440/4 | €496,512 | €786,975 | +€290,463 | +58.5% |
| Taxes, remuneration and social security | 45 | €100,074 | €54,782 | -€45,291 | -45.3% |
| Taxes | 450/3 | €100,074 | €54,782 | -€45,291 | -45.3% |
| Other amounts payable | 47/48 | €232,072 | €227,822 | -€4,250 | -1.8% |
| Other operating charges | 640/8 | €1,041 | €1,058 | +€18 | +1.7% |
| Gross operating margin | 9900 | €266,525 | €196,488 | -€70,037 | -26.3% |
| Operating profit (loss) | 9901 | €265,484 | €195,430 | -€70,054 | -26.4% |
| Financial income | 75/76B | €1,191 | €0 | -€1,191 | -100% |
| Recurring financial income | 75 | €1,191 | €0 | -€1,191 | -100% |
| Financial charges | 65/66B | €754 | €5,201 | +€4,447 | +590% |
| Recurring financial charges | 65 | €754 | €5,201 | +€4,447 | +590% |
| Profit (loss) for the period before taxes | 9903 | €265,922 | €190,229 | -€75,693 | -28.5% |
| Income taxes | 67/77 | €67,064 | €47,557 | -€19,506 | -29.1% |
| Profit (loss) for the period | 9904 | €198,858 | €142,672 | -€56,186 | -28.3% |
| Profit (loss) for the period to be appropriated | 9905 | €198,858 | €142,672 | -€56,186 | -28.3% |
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 19 October 2026 via checked.be.