ELSEN & SON: 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.
What changed
ELSEN & SON
NACE 71.111, Activities of building architects
financial year 2024 compared with 2023filed annual accounts (NBB)
Net result for the year
€9,345
2023 · -€15,539+€24,884
Equity
€196,491
2023 · €187,146+€9,345
Cash
€5,126
2023 · €1,068+€4,058
Balance sheet total
€976,027
2023 · €986,897-€10,871
Largest movements
Assets
- Tangible fixed assets -€36,140
down €36,140 (-4.6%), from €781,325 to €745,185
- Receivables within one year +€34,405
up €34,405 (+18.3%), from €188,130 to €222,536
of which Other amounts receivable: +€27,847
- Stocks and contracts -€14,449
no longer reported in 2024 (was €14,449)
Equity and liabilities
- Trade debts -€55,130
down €55,130 (-28.1%), from €196,263 to €141,133
- Other debts +€44,976
up €44,976 (+80.6%), from €55,795 to €100,771
- Tax, wage and social debts +€35,335
up €35,335 (+242%), from €14,585 to €49,920
of which Taxes: +€35,747
- Debts after one year -€35,098
down €35,098 (-7.5%), from €469,532 to €434,433
Income statement
- Gross operating margin +€48,314
up €48,314 (+34.9%), from €138,255 to €186,569
- Write-downs +€14,761
new in 2024: €14,761
- Staff costs -€14,336
down €14,336 (-19.8%), from €72,546 to €58,211
- Depreciation +€8,008
up €8,008 (+21.3%), from €37,641 to €45,648
- Other operating charges +€6,387
up €6,387 (+75.1%), from €8,502 to €14,889
From the 2023 result to the 2024 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.
Result 2023
-€15,539
Gross operating margin
+€48,314
Staff costs
+€14,336
Depreciation
-€8,008
Write-downs
-€14,761
Other operating charges
-€6,387
Other operating items
-€13,397
Financial income
-€1
Financial charges
+€6,026
Taxes
-€1,238
Result 2024
€9,345
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€55,223
Investment
-€9,778
Financing
-€41,387
Cash 2023
€1,068
From operations (derived)
+€55,223
Net result for the year
+€9,345
Depreciation
+€45,648
Stocks and contracts
+€14,449
Receivables within one year
-€34,405
Deferred charges and accrued income
-€984
Trade debts
-€55,130
Tax, wage and social debts
+€35,335
Other debts
+€44,976
Accrued charges and deferred income
-€4,010
Investment (derived)
-€9,778
Investment in fixed assets (net)
-€9,778
Financing
-€41,387
Debts after one year
-€35,098
Current portion of long-term debt
+€1,341
Short-term financial debts
-€7,630
Cash 2024
€5,126
brings cash intakes cash out
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €986,897 | €976,027 | -€10,871 | -1.1% |
| Fixed assets | 21/28 | €782,650 | €746,780 | -€35,870 | -4.6% |
| Tangible fixed assets | 22/27 | €781,325 | €745,185 | -€36,140 | -4.6% |
| Land and buildings | 22 | €591,328 | €575,682 | -€15,645 | -2.6% |
| Plant, machinery and equipment | 23 | €17 | €1,469 | +€1,451 | +8,448% |
| Furniture and vehicles | 24 | €13,194 | €7,257 | -€5,937 | -45.0% |
| Other tangible fixed assets | 26 | €176,786 | €160,777 | -€16,009 | -9.1% |
| Financial fixed assets | 28 | €1,326 | €1,596 | +€270 | +20.4% |
| Current assets | 29/58 | €204,247 | €229,246 | +€24,999 | +12.2% |
| Stocks and contracts in progress | 3 | €14,449 | - | -€14,449 | |
| Stocks | 30/36 | €14,449 | - | -€14,449 | |
| Amounts receivable within one year | 40/41 | €188,130 | €222,536 | +€34,405 | +18.3% |
| Trade receivables | 40 | €181,367 | €187,925 | +€6,558 | +3.6% |
| Other amounts receivable | 41 | €6,764 | €34,611 | +€27,847 | +412% |
| Cash at bank and in hand | 54/58 | €1,068 | €5,126 | +€4,058 | +380% |
| Deferred charges and accrued income | 490/1 | €600 | €1,584 | +€984 | +164% |
| Total equity and liabilities | 10/49 | €986,897 | €976,027 | -€10,871 | -1.1% |
| Equity | 10/15 | €187,146 | €196,491 | +€9,345 | +5.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €166,686 | €176,031 | +€9,345 | +5.6% |
| Amounts payable | 17/49 | €799,751 | €779,536 | -€20,215 | -2.5% |
| Amounts payable after more than one year | 17 | €469,532 | €434,433 | -€35,098 | -7.5% |
| Financial debts | 170/4 | €469,532 | €434,433 | -€35,098 | -7.5% |
| Amounts payable within one year | 42/48 | €323,612 | €342,505 | +€18,893 | +5.8% |
| Current portion of amounts payable after more than one year | 42 | €33,757 | €35,098 | +€1,341 | +4.0% |
| Financial debts | 43 | €23,212 | €15,583 | -€7,630 | -32.9% |
| Credit institutions | 430/8 | €23,212 | €15,583 | -€7,630 | -32.9% |
| Trade debts | 44 | €196,263 | €141,133 | -€55,130 | -28.1% |
| Suppliers | 440/4 | €196,263 | €141,133 | -€55,130 | -28.1% |
| Taxes, remuneration and social security | 45 | €14,585 | €49,920 | +€35,335 | +242% |
| Taxes | 450/3 | €8,587 | €44,333 | +€35,747 | +416% |
| Remuneration and social security | 454/9 | €5,998 | €5,586 | -€411 | -6.9% |
| Other amounts payable | 47/48 | €55,795 | €100,771 | +€44,976 | +80.6% |
| Accrued charges and deferred income | 492/3 | €6,608 | €2,598 | -€4,010 | -60.7% |
| Remuneration, social security and pensions | 62 | €72,546 | €58,211 | -€14,336 | -19.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,641 | €45,648 | +€8,008 | +21.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €14,761 | +€14,761 | |
| Other operating charges | 640/8 | €8,502 | €14,889 | +€6,387 | +75.1% |
| Non-recurring operating charges | 66A | - | €13,397 | +€13,397 | |
| Gross operating margin | 9900 | €138,255 | €186,569 | +€48,314 | +34.9% |
| Operating profit (loss) | 9901 | €19,566 | €39,663 | +€20,097 | +103% |
| Financial income | 75/76B | €3 | €2 | -€1 | -31.0% |
| Recurring financial income | 75 | €3 | €2 | -€1 | -31.0% |
| Financial charges | 65/66B | €31,511 | €25,485 | -€6,026 | -19.1% |
| Recurring financial charges | 65 | €31,511 | €25,485 | -€6,026 | -19.1% |
| Profit (loss) for the period before taxes | 9903 | -€11,941 | €14,180 | +€26,122 | |
| Income taxes | 67/77 | €3,598 | €4,836 | +€1,238 | +34.4% |
| Profit (loss) for the period | 9904 | -€15,539 | €9,345 | +€24,884 | |
| Profit (loss) for the period to be appropriated | 9905 | -€15,539 | €9,345 | +€24,884 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.