ELSOEDE: 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.
ELSOEDE
Largest movements
- Current assets +€2.9m
up €2.9m (+500.0%), from €576,217 to €3.5m
of which Cash: +€1.9m
- Financial fixed assets -€702,851
down €702,851 (-9.0%), from €7.8m to €7.1m
- Profit (loss) carried forward +€2.1m
up €2.1m (+309.8%), from €677,433 to €2.8m
- Taxes +€44,002
up €44,002 (+168.3%), from €26,143 to €70,146
- Gross operating margin +€26,598
up €26,598 (+45.0%), from -€59,071 to -€32,473
- Depreciation -€5,103
no longer reported in 2016 (was €5,103)
From the 2015 result to the 2016 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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2015 | 2016 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,350,434 | €10,528,743 | +€2.2m | +26.1% |
| Fixed assets | 21/28 | €7,774,217 | €7,071,366 | -€702,851 | -9.0% |
| Financial fixed assets | 28 | €7,774,217 | €7,071,366 | -€702,851 | -9.0% |
| Current assets | 29/58 | €576,217 | €3,457,376 | +€2.9m | +500.0% |
| Amounts receivable within one year | 40/41 | €80 | €851,918 | +€851,838 | +1064664.4% |
| Cash at bank and in hand | 54/58 | €385,225 | €2,333,574 | +€1.9m | +505.8% |
| Total equity and liabilities | 10/49 | €8,350,434 | €10,528,743 | +€2.2m | +26.1% |
| Equity | 10/15 | €6,637,893 | €8,736,708 | +€2.1m | +31.6% |
| Contributions | 10/11 | €5,418,600 | €5,418,600 | = | 0.0% |
| Reserves | 13 | €541,860 | €541,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €677,433 | €2,776,248 | +€2.1m | +309.8% |
| Amounts payable | 17/49 | €1,712,541 | €1,792,034 | +€79,494 | +4.6% |
| Amounts payable after more than one year | 17 | €868,038 | €868,038 | = | 0.0% |
| Amounts payable within one year | 42/48 | €788,713 | €834,939 | +€46,226 | +5.9% |
| Trade debts | 44 | €154 | €4,544 | +€4,390 | +2857.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,103 | - | -€5,103 | |
| Gross operating margin | 9900 | -€59,071 | -€32,473 | +€26,598 | +45.0% |
| Operating profit (loss) | 9901 | -€64,610 | -€33,341 | +€31,269 | +48.4% |
| Recurring financial income | 75 | €213,208 | €2,250,511 | +€2.0m | +955.5% |
| Recurring financial charges | 65 | €57,988 | €48,209 | -€9,779 | -16.9% |
| Profit (loss) for the period before taxes | 9903 | €90,609 | €2,168,961 | +€2.1m | +2293.8% |
| Income taxes | 67/77 | €26,143 | €70,146 | +€44,002 | +168.3% |
| Profit (loss) for the period | 9904 | €64,466 | €2,098,815 | +€2.0m | +3155.7% |
| Profit (loss) for the period to be appropriated | 9905 | €64,466 | €2,098,815 | +€2.0m | +3155.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2015 and 31 December 2016. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.