ELSEN ERIC: 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 ERIC
Largest movements
- Cash +€64,692
up €64,692 (+76.3%), from €84,841 to €149,532
mainly Net result for the year (+€41,217) and Debts after one year (+€40,072)
- Tangible fixed assets +€43,684
up €43,684 (+97.8%), from €44,646 to €88,329
of which Furniture and vehicles: +€40,260
- Receivables within one year -€14,391
down €14,391 (-39.0%), from €36,917 to €22,526
of which Trade receivables: -€15,622
- Reserves +€41,217
up €41,217 (+30.8%), from €133,653 to €174,870
of which Distributable reserves: +€41,217
- Debts after one year +€40,072
new in 2025: €40,072
- Current portion of long-term debt +€10,994
new in 2025: €10,994
- Depreciation +€9,613
up €9,613 (+70.7%), from €13,594 to €23,207
- Gross operating margin +€7,472
up €7,472 (+9.4%), from €79,183 to €86,656
- Financial income -€3,512
no longer reported in 2025 (was €3,512)
of which Financial income: -€3,512
- Taxes -€2,563
down €2,563 (-11.7%), from €21,826 to €19,263
- Financial charges +€1,825
up €1,825 (+292.4%), from €624 to €2,449
of which Financial charges: +€2,299
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 | €173,043 | €268,441 | +€95,398 | +55.1% |
| Fixed assets | 21/28 | €45,801 | €89,484 | +€43,684 | +95.4% |
| Tangible fixed assets | 22/27 | €44,646 | €88,329 | +€43,684 | +97.8% |
| Plant, machinery and equipment | 23 | €5,993 | €9,417 | +€3,424 | +57.1% |
| Furniture and vehicles | 24 | €38,653 | €78,913 | +€40,260 | +104.2% |
| Financial fixed assets | 28 | €1,155 | €1,155 | = | 0.0% |
| Current assets | 29/58 | €127,243 | €178,957 | +€51,714 | +40.6% |
| Stocks and contracts in progress | 3 | €3,543 | €3,543 | = | 0.0% |
| Stocks | 30/36 | €3,543 | €3,543 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €36,917 | €22,526 | -€14,391 | -39.0% |
| Trade receivables | 40 | €32,416 | €16,794 | -€15,622 | -48.2% |
| Other amounts receivable | 41 | €4,501 | €5,732 | +€1,230 | +27.3% |
| Cash at bank and in hand | 54/58 | €84,841 | €149,532 | +€64,692 | +76.3% |
| Deferred charges and accrued income | 490/1 | €1,942 | €3,356 | +€1,414 | +72.8% |
| Total equity and liabilities | 10/49 | €173,043 | €268,441 | +€95,398 | +55.1% |
| Equity | 10/15 | €139,853 | €181,070 | +€41,217 | +29.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €133,653 | €174,870 | +€41,217 | +30.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €131,793 | €173,010 | +€41,217 | +31.3% |
| Amounts payable | 17/49 | €33,190 | €87,371 | +€54,180 | +163.2% |
| Amounts payable after more than one year | 17 | - | €40,072 | +€40,072 | |
| Financial debts | 170/4 | - | €40,072 | +€40,072 | |
| Amounts payable within one year | 42/48 | €33,190 | €47,299 | +€14,109 | +42.5% |
| Current portion of amounts payable after more than one year | 42 | - | €10,994 | +€10,994 | |
| Trade debts | 44 | €3,967 | €6,569 | +€2,602 | +65.6% |
| Suppliers | 440/4 | €3,967 | €6,569 | +€2,602 | +65.6% |
| Taxes, remuneration and social security | 45 | €7,376 | €7,888 | +€512 | +6.9% |
| Taxes | 450/3 | €5,576 | €6,088 | +€512 | +9.2% |
| Remuneration and social security | 454/9 | €1,800 | €1,800 | = | 0.0% |
| Other amounts payable | 47/48 | €21,847 | €21,847 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,594 | €23,207 | +€9,613 | +70.7% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €79,183 | €86,656 | +€7,472 | +9.4% |
| Operating profit (loss) | 9901 | €65,084 | €62,929 | -€2,155 | -3.3% |
| Financial income | 75/76B | €3,512 | - | -€3,512 | |
| Recurring financial income | 75 | €3,512 | - | -€3,512 | |
| Non-recurring financial income | 76B | €3,512 | - | -€3,512 | |
| Financial charges | 65/66B | €624 | €2,449 | +€1,825 | +292.4% |
| Recurring financial charges | 65 | €44 | €2,343 | +€2,299 | +5265.9% |
| Non-recurring financial charges | 66B | €580 | €106 | -€474 | -81.7% |
| Profit (loss) for the period before taxes | 9903 | €67,972 | €60,480 | -€7,492 | -11.0% |
| Income taxes | 67/77 | €21,826 | €19,263 | -€2,563 | -11.7% |
| Profit (loss) for the period | 9904 | €46,146 | €41,217 | -€4,929 | -10.7% |
| Profit (loss) for the period to be appropriated | 9905 | €46,146 | €41,217 | -€4,929 | -10.7% |
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 10 October 2026 via checked.be.