ELSENOLIVIER: 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.
ELSENOLIVIER
Largest movements
- Tangible fixed assets +€15,227
up €15,227 (+1.6%), from €939,247 to €954,475
of which Land and buildings: +€20,227
- Debts after one year -€148,871
down €148,871 (-19.0%), from €781,679 to €632,808
- Other debts +€131,234
up €131,234 (+103%), from €127,258 to €258,492
- Short-term financial debts +€28,314
new in 2025: €28,314
- Gross operating margin +€6,612
up €6,612 (+10.0%), from €66,185 to €72,797
- Financial charges -€4,062
down €4,062 (-10.1%), from €40,222 to €36,160
- Depreciation +€1,233
up €1,233 (+4.3%), from €28,356 to €29,590
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 | €956,710 | €971,827 | +€15,117 | +1.6% |
| Formation expenses | 20 | €10,774 | €8,005 | -€2,769 | -25.7% |
| Fixed assets | 21/28 | €939,247 | €954,475 | +€15,227 | +1.6% |
| Tangible fixed assets | 22/27 | €939,247 | €954,475 | +€15,227 | +1.6% |
| Land and buildings | 22 | €894,425 | €914,653 | +€20,227 | +2.3% |
| Furniture and vehicles | 24 | €44,822 | €39,822 | -€5,000 | -11.2% |
| Current assets | 29/58 | €6,689 | €9,348 | +€2,659 | +39.8% |
| Stocks and contracts in progress | 3 | €794 | - | -€794 | |
| Stocks | 30/36 | €794 | - | -€794 | |
| Cash at bank and in hand | 54/58 | €1,010 | €8,160 | +€7,150 | +708% |
| Deferred charges and accrued income | 490/1 | €4,886 | €1,188 | -€3,697 | -75.7% |
| Total equity and liabilities | 10/49 | €956,710 | €971,827 | +€15,117 | +1.6% |
| Equity | 10/15 | -€3,370 | €1,066 | +€4,435 | |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,370 | -€934 | +€4,435 | +82.6% |
| Amounts payable | 17/49 | €960,080 | €970,761 | +€10,682 | +1.1% |
| Amounts payable after more than one year | 17 | €781,679 | €632,808 | -€148,871 | -19.0% |
| Financial debts | 170/4 | €781,679 | €632,808 | -€148,871 | -19.0% |
| Amounts payable within one year | 42/48 | €178,401 | €337,954 | +€159,553 | +89.4% |
| Current portion of amounts payable after more than one year | 42 | €26,181 | €34,737 | +€8,556 | +32.7% |
| Financial debts | 43 | - | €28,314 | +€28,314 | |
| Credit institutions | 430/8 | - | €28,314 | +€28,314 | |
| Trade debts | 44 | €24,962 | €16,410 | -€8,552 | -34.3% |
| Suppliers | 440/4 | €24,962 | €16,410 | -€8,552 | -34.3% |
| Other amounts payable | 47/48 | €127,258 | €258,492 | +€131,234 | +103% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,356 | €29,590 | +€1,233 | +4.3% |
| Other operating charges | 640/8 | €2,976 | €2,614 | -€362 | -12.2% |
| Gross operating margin | 9900 | €66,185 | €72,797 | +€6,612 | +10.0% |
| Operating profit (loss) | 9901 | €34,852 | €40,593 | +€5,741 | +16.5% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €40,222 | €36,160 | -€4,062 | -10.1% |
| Recurring financial charges | 65 | €40,222 | €36,160 | -€4,062 | -10.1% |
| Profit (loss) for the period before taxes | 9903 | -€5,370 | €4,435 | +€9,805 | |
| Profit (loss) for the period | 9904 | -€5,370 | €4,435 | +€9,805 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,370 | €4,435 | +€9,805 |
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 17 October 2026 via checked.be.