ELSKO: what changed
Two fiscal 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.
ELSKO
Largest movements
- Receivables within one year +€142,461
up €142,461 (+107.2%), from €132,915 to €275,376
of which Other amounts receivable: +€96,253
- Stocks and contracts -€69,000
down €69,000 (-41.8%), from €165,000 to €96,000
- Cash -€8,230
down €8,230 (-56.7%), from €14,516 to €6,285
mainly Receivables within one year (-€142,461) and Other debts (-€15,819)
- Short-term financial debts +€78,556
new in 2025: €78,556
- Debts after one year +€19,504
new in 2025: €19,504
- Other debts -€15,819
down €15,819 (-22.6%), from €70,120 to €54,301
- Tax, wage and social debts -€13,994
down €13,994 (-46.6%), from €30,001 to €16,006
- Trade debts -€13,801
down €13,801 (-99.1%), from €13,928 to €127
- Purchases and services -€415,680
down €415,680 (-19.3%), from €2.2m to €1.7m
- Turnover -€368,511
down €368,511 (-16.3%), from €2.3m to €1.9m
- Gross operating margin +€44,977
up €44,977 (+41.1%), from €109,457 to €154,434
- Taxes +€33,653
up €33,653 (+2619.2%), from €1,285 to €34,938
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 | €316,386 | €379,490 | +€63,105 | +19.9% |
| Fixed assets | 21/28 | €3,955 | €1,828 | -€2,126 | -53.8% |
| Tangible fixed assets | 22/27 | €3,955 | €1,828 | -€2,126 | -53.8% |
| Plant, machinery and equipment | 23 | €320 | - | -€320 | |
| Furniture and vehicles | 24 | €3,635 | €1,828 | -€1,806 | -49.7% |
| Current assets | 29/58 | €312,431 | €377,662 | +€65,231 | +20.9% |
| Stocks and contracts in progress | 3 | €165,000 | €96,000 | -€69,000 | -41.8% |
| Stocks | 30/36 | €165,000 | €96,000 | -€69,000 | -41.8% |
| Amounts receivable within one year | 40/41 | €132,915 | €275,376 | +€142,461 | +107.2% |
| Trade receivables | 40 | €67,398 | €113,606 | +€46,208 | +68.6% |
| Other amounts receivable | 41 | €65,516 | €161,770 | +€96,253 | +146.9% |
| Cash at bank and in hand | 54/58 | €14,516 | €6,285 | -€8,230 | -56.7% |
| Total equity and liabilities | 10/49 | €316,386 | €379,490 | +€63,105 | +19.9% |
| Equity | 10/15 | €202,337 | €205,408 | +€3,071 | +1.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €175,859 | €175,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €174,000 | €174,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,886 | €10,957 | +€3,071 | +38.9% |
| Amounts payable | 17/49 | €114,048 | €174,082 | +€60,034 | +52.6% |
| Amounts payable after more than one year | 17 | - | €19,504 | +€19,504 | |
| Financial debts | 170/4 | - | €19,504 | +€19,504 | |
| Amounts payable within one year | 42/48 | €114,048 | €154,578 | +€40,529 | +35.5% |
| Current portion of amounts payable after more than one year | 42 | - | €5,588 | +€5,588 | |
| Financial debts | 43 | - | €78,556 | +€78,556 | |
| Credit institutions | 430/8 | - | €78,556 | +€78,556 | |
| Trade debts | 44 | €13,928 | €127 | -€13,801 | -99.1% |
| Suppliers | 440/4 | €13,928 | €127 | -€13,801 | -99.1% |
| Taxes, remuneration and social security | 45 | €30,001 | €16,006 | -€13,994 | -46.6% |
| Remuneration and social security | 454/9 | €30,001 | €16,006 | -€13,994 | -46.6% |
| Other amounts payable | 47/48 | €70,120 | €54,301 | -€15,819 | -22.6% |
| Turnover | 70 | €2,266,280 | €1,897,770 | -€368,511 | -16.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €2,159,162 | €1,743,481 | -€415,680 | -19.3% |
| Remuneration, social security and pensions | 62 | €93,002 | €100,681 | +€7,679 | +8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,912 | €2,126 | -€785 | -27.0% |
| Other operating charges | 640/8 | €1,352 | €2,223 | +€871 | +64.4% |
| Gross operating margin | 9900 | €109,457 | €154,434 | +€44,977 | +41.1% |
| Operating profit (loss) | 9901 | €12,192 | €49,404 | +€37,212 | +305.2% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €6,586 | €11,395 | +€4,809 | +73.0% |
| Recurring financial charges | 65 | €6,586 | €11,395 | +€4,809 | +73.0% |
| Profit (loss) for the period before taxes | 9903 | €5,606 | €38,009 | +€32,403 | +578.1% |
| Income taxes | 67/77 | €1,285 | €34,938 | +€33,653 | +2619.2% |
| Profit (loss) for the period | 9904 | €4,321 | €3,071 | -€1,249 | -28.9% |
| Profit (loss) for the period to be appropriated | 9905 | €4,321 | €3,071 | -€1,249 | -28.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.