ElsenBergen: 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.
ElsenBergen
Largest movements
- Stocks and contracts +€736,262
up €736,262 (+87.8%), from €838,475 to €1.6m
- Receivables within one year +€304,692
up €304,692 (+608.1%), from €50,103 to €354,795
of which Other amounts receivable: +€294,730
- Cash +€231,708
up €231,708 (+112.0%), from €206,832 to €438,540
mainly Tax, wage and social debts (+€320,003) and Trade debts (+€312,856)
- Tax, wage and social debts +€320,003
up €320,003 (+500.4%), from €63,947 to €383,949
of which Taxes: +€313,713
- Trade debts +€312,856
up €312,856 (+438.0%), from €71,430 to €384,286
- Debts after one year +€299,120
new in 2025: €299,120
- Short-term financial debts +€200,000
up €200,000 (+100.0%), from €200,000 to €400,000
- Advances received +€121,215
up €121,215 (+172.1%), from €70,445 to €191,660
- Gross operating margin -€84,381
down €84,381 (-31.0%), from €272,293 to €187,912
- Staff costs +€37,603
up €37,603 (+276.5%), from €13,600 to €51,204
- Taxes +€24,793
new in 2025: €24,793
- Depreciation +€3,522
up €3,522 (+102.9%), from €3,424 to €6,946
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 | €1,142,023 | €2,430,104 | +€1.3m | +112.8% |
| Fixed assets | 21/28 | €45,357 | €61,936 | +€16,578 | +36.6% |
| Tangible fixed assets | 22/27 | €26,857 | €36,176 | +€9,318 | +34.7% |
| Plant, machinery and equipment | 23 | €16,161 | €14,620 | -€1,541 | -9.5% |
| Furniture and vehicles | 24 | - | €13,315 | +€13,315 | |
| Other tangible fixed assets | 26 | €10,696 | €8,241 | -€2,455 | -23.0% |
| Financial fixed assets | 28 | €18,500 | €25,760 | +€7,260 | +39.2% |
| Current assets | 29/58 | €1,096,665 | €2,368,168 | +€1.3m | +115.9% |
| Stocks and contracts in progress | 3 | €838,475 | €1,574,737 | +€736,262 | +87.8% |
| Stocks | 30/36 | €838,475 | €1,574,737 | +€736,262 | +87.8% |
| Amounts receivable within one year | 40/41 | €50,103 | €354,795 | +€304,692 | +608.1% |
| Trade receivables | 40 | €50,103 | €60,065 | +€9,962 | +19.9% |
| Other amounts receivable | 41 | - | €294,730 | +€294,730 | |
| Cash at bank and in hand | 54/58 | €206,832 | €438,540 | +€231,708 | +112.0% |
| Deferred charges and accrued income | 490/1 | €1,255 | €96 | -€1,160 | -92.4% |
| Total equity and liabilities | 10/49 | €1,142,023 | €2,430,104 | +€1.3m | +112.8% |
| Equity | 10/15 | €412,623 | €492,391 | +€79,767 | +19.3% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €312,623 | €392,391 | +€79,767 | +25.5% |
| Amounts payable | 17/49 | €729,399 | €1,937,713 | +€1.2m | +165.7% |
| Amounts payable after more than one year | 17 | - | €299,120 | +€299,120 | |
| Financial debts | 170/4 | - | €299,120 | +€299,120 | |
| Amounts payable within one year | 42/48 | €643,960 | €1,628,334 | +€984,374 | +152.9% |
| Current portion of amounts payable after more than one year | 42 | - | €70,142 | +€70,142 | |
| Financial debts | 43 | €200,000 | €400,000 | +€200,000 | +100.0% |
| Credit institutions | 430/8 | €200,000 | €400,000 | +€200,000 | +100.0% |
| Trade debts | 44 | €71,430 | €384,286 | +€312,856 | +438.0% |
| Suppliers | 440/4 | €71,430 | €384,286 | +€312,856 | +438.0% |
| Advances received on contracts in progress | 46 | €70,445 | €191,660 | +€121,215 | +172.1% |
| Taxes, remuneration and social security | 45 | €63,947 | €383,949 | +€320,003 | +500.4% |
| Taxes | 450/3 | €61,789 | €375,502 | +€313,713 | +507.7% |
| Remuneration and social security | 454/9 | €2,158 | €8,447 | +€6,289 | +291.5% |
| Other amounts payable | 47/48 | €238,138 | €198,296 | -€39,842 | -16.7% |
| Accrued charges and deferred income | 492/3 | €85,440 | €10,259 | -€75,181 | -88.0% |
| Remuneration, social security and pensions | 62 | €13,600 | €51,204 | +€37,603 | +276.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,424 | €6,946 | +€3,522 | +102.9% |
| Other operating charges | 640/8 | €11,193 | €11,307 | +€114 | +1.0% |
| Non-recurring operating charges | 66A | - | €293 | +€293 | |
| Gross operating margin | 9900 | €272,293 | €187,912 | -€84,381 | -31.0% |
| Operating profit (loss) | 9901 | €244,076 | €118,162 | -€125,914 | -51.6% |
| Financial income | 75/76B | €96 | €169 | +€72 | +75.0% |
| Recurring financial income | 75 | €96 | €169 | +€72 | +75.0% |
| Financial charges | 65/66B | €14,273 | €13,770 | -€503 | -3.5% |
| Recurring financial charges | 65 | €14,273 | €13,770 | -€503 | -3.5% |
| Profit (loss) for the period before taxes | 9903 | €229,900 | €104,560 | -€125,339 | -54.5% |
| Income taxes | 67/77 | - | €24,793 | +€24,793 | |
| Profit (loss) for the period | 9904 | €229,900 | €79,767 | -€150,132 | -65.3% |
| Profit (loss) for the period to be appropriated | 9905 | €229,900 | €79,767 | -€150,132 | -65.3% |
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 9 October 2026 via checked.be.