ELSO Holding: 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 Holding
Largest movements
- Receivables after one year -€188,218
down €188,218 (-65.3%), from €288,218 to €100,000
- Receivables within one year +€54,438
up €54,438 (+45.2%), from €120,338 to €174,776
of which Other amounts receivable: +€54,575
- Cash -€35,762
down €35,762 (-61.9%), from €57,771 to €22,009
mainly Debts after one year (-€162,463) and Receivables within one year (-€54,438)
- Debts after one year -€162,463
down €162,463 (-66.3%), from €245,000 to €82,537
- Other debts +€24,223
new in 2025: €24,223
- Accrued charges and deferred income -€21,699
down €21,699 (-62.4%), from €34,800 to €13,101
- Financial income -€246,871
down €246,871 (-95.9%), from €257,323 to €10,452
- Financial charges -€1,864
down €1,864 (-12.3%), from €15,102 to €13,238
- Gross operating margin -€928
down €928 (-56.4%), from -€1,644 to -€2,572
- Other operating charges -€566
down €566 (-52.1%), from €1,086 to €520
- Taxes -€228
down €228, from €0 to -€228
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 | €907,854 | €742,350 | -€165,504 | -18.2% |
| Fixed assets | 21/28 | €435,281 | €435,281 | = | 0.0% |
| Financial fixed assets | 28 | €435,281 | €435,281 | = | 0.0% |
| Current assets | 29/58 | €472,573 | €307,068 | -€165,504 | -35.0% |
| Amounts receivable after more than one year | 29 | €288,218 | €100,000 | -€188,218 | -65.3% |
| Other amounts receivable | 291 | €288,218 | €100,000 | -€188,218 | -65.3% |
| Amounts receivable within one year | 40/41 | €120,338 | €174,776 | +€54,438 | +45.2% |
| Trade receivables | 40 | €137 | €0 | -€137 | -100% |
| Other amounts receivable | 41 | €120,201 | €174,776 | +€54,575 | +45.4% |
| Cash at bank and in hand | 54/58 | €57,771 | €22,009 | -€35,762 | -61.9% |
| Deferred charges and accrued income | 490/1 | €6,245 | €10,284 | +€4,039 | +64.7% |
| Total equity and liabilities | 10/49 | €907,854 | €742,350 | -€165,504 | -18.2% |
| Equity | 10/15 | €628,054 | €622,405 | -€5,649 | -0.9% |
| Contributions | 10/11 | €520,000 | €520,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €108,054 | €102,405 | -€5,649 | -5.2% |
| Amounts payable | 17/49 | €279,800 | €119,945 | -€159,855 | -57.1% |
| Amounts payable after more than one year | 17 | €245,000 | €82,537 | -€162,463 | -66.3% |
| Other amounts payable | 178/9 | €245,000 | €82,537 | -€162,463 | -66.3% |
| Amounts payable within one year | 42/48 | €0 | €24,307 | +€24,307 | |
| Trade debts | 44 | €0 | €85 | +€85 | |
| Suppliers | 440/4 | €0 | €85 | +€85 | |
| Other amounts payable | 47/48 | - | €24,223 | +€24,223 | |
| Accrued charges and deferred income | 492/3 | €34,800 | €13,101 | -€21,699 | -62.4% |
| Other operating charges | 640/8 | €1,086 | €520 | -€566 | -52.1% |
| Gross operating margin | 9900 | -€1,644 | -€2,572 | -€928 | -56.4% |
| Operating profit (loss) | 9901 | -€2,729 | -€3,091 | -€362 | -13.3% |
| Financial income | 75/76B | €257,323 | €10,452 | -€246,871 | -95.9% |
| Recurring financial income | 75 | €257,323 | €10,452 | -€246,871 | -95.9% |
| Financial charges | 65/66B | €15,102 | €13,238 | -€1,864 | -12.3% |
| Recurring financial charges | 65 | €15,102 | €13,238 | -€1,864 | -12.3% |
| Profit (loss) for the period before taxes | 9903 | €239,492 | -€5,878 | -€245,369 | |
| Income taxes | 67/77 | €0 | -€228 | -€228 | |
| Profit (loss) for the period | 9904 | €239,492 | -€5,649 | -€245,141 | |
| Profit (loss) for the period to be appropriated | 9905 | €239,492 | -€5,649 | -€245,141 |
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 22 October 2026 via checked.be.