ELSO: 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.
ELSO
Largest movements
- Cash -€38,175
down €38,175 (-91.0%), from €41,952 to €3,778
mainly Other debts (-€68,175) and Tax, wage and social debts (-€10,927)
- Tangible fixed assets -€31,369
down €31,369 (-7.2%), from €435,867 to €404,497
- Other debts -€68,175
down €68,175 (-14.8%), from €461,741 to €393,566
- Profit (loss) carried forward +€17,307
up €17,307 (+5.6%), from -€307,260 to -€289,953
- Tax, wage and social debts -€10,927
down €10,927 (-9.3%), from €117,193 to €106,266
- Trade debts -€9,750
down €9,750 (-45.6%), from €21,372 to €11,622
- Purchases and services -€34,575
down €34,575 (-78.6%), from €43,975 to €9,400
- Turnover -€31,347
down €31,347 (-31.6%), from €99,347 to €68,000
- Other operating charges +€4,082
new in 2025: €4,082
- Taxes +€3,473
up €3,473 (+151%), from €2,297 to €5,770
- Gross operating margin +€2,252
up €2,252 (+4.0%), from €56,348 to €58,600
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 | €479,819 | €408,275 | -€71,544 | -14.9% |
| Fixed assets | 21/28 | €435,867 | €404,497 | -€31,369 | -7.2% |
| Tangible fixed assets | 22/27 | €435,867 | €404,497 | -€31,369 | -7.2% |
| Land and buildings | 22 | €435,867 | €404,497 | -€31,369 | -7.2% |
| Current assets | 29/58 | €43,952 | €3,778 | -€40,175 | -91.4% |
| Amounts receivable within one year | 40/41 | €2,000 | €0 | -€2,000 | -100% |
| Trade receivables | 40 | €2,000 | €0 | -€2,000 | -100% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €41,952 | €3,778 | -€38,175 | -91.0% |
| Total equity and liabilities | 10/49 | €479,819 | €408,275 | -€71,544 | -14.9% |
| Equity | 10/15 | -€120,486 | -€103,179 | +€17,307 | +14.4% |
| Contributions | 10/11 | €184,874 | €184,874 | = | 0.0% |
| Capital | 10 | €184,874 | €184,874 | = | 0.0% |
| Issued capital | 100 | €189,000 | €189,000 | = | 0.0% |
| Uncalled capital | 101 | €4,126 | €4,126 | = | 0.0% |
| Reserves | 13 | €1,900 | €1,900 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Legal reserve | 130 | €1,900 | €1,900 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€307,260 | -€289,953 | +€17,307 | +5.6% |
| Amounts payable | 17/49 | €600,305 | €511,454 | -€88,851 | -14.8% |
| Amounts payable within one year | 42/48 | €600,305 | €511,454 | -€88,851 | -14.8% |
| Trade debts | 44 | €21,372 | €11,622 | -€9,750 | -45.6% |
| Suppliers | 440/4 | €21,372 | €11,622 | -€9,750 | -45.6% |
| Taxes, remuneration and social security | 45 | €117,193 | €106,266 | -€10,927 | -9.3% |
| Taxes | 450/3 | €117,193 | €106,266 | -€10,927 | -9.3% |
| Other amounts payable | 47/48 | €461,741 | €393,566 | -€68,175 | -14.8% |
| Turnover | 70 | €99,347 | €68,000 | -€31,347 | -31.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €43,975 | €9,400 | -€34,575 | -78.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,828 | €31,369 | +€541 | +1.8% |
| Other operating charges | 640/8 | - | €4,082 | +€4,082 | |
| Gross operating margin | 9900 | €56,348 | €58,600 | +€2,252 | +4.0% |
| Operating profit (loss) | 9901 | €25,520 | €23,149 | -€2,370 | -9.3% |
| Financial charges | 65/66B | €253 | €72 | -€181 | -71.4% |
| Recurring financial charges | 65 | €253 | €72 | -€181 | -71.4% |
| Profit (loss) for the period before taxes | 9903 | €25,267 | €23,077 | -€2,190 | -8.7% |
| Income taxes | 67/77 | €2,297 | €5,770 | +€3,473 | +151% |
| Profit (loss) for the period | 9904 | €22,971 | €17,307 | -€5,663 | -24.7% |
| Profit (loss) for the period to be appropriated | 9905 | €22,971 | €17,307 | -€5,663 | -24.7% |
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 21 October 2026 via checked.be.