Elsteko: 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.
Elsteko
Largest movements
- Stocks and contracts +€12,218
up €12,218 (+29.7%), from €41,131 to €53,350
- Receivables within one year -€6,242
down €6,242 (-26.5%), from €23,598 to €17,356
of which Other amounts receivable: -€3,310
- Cash +€4,301
up €4,301 (+6.7%), from €64,055 to €68,356
mainly Receivables within one year (+€6,242) and Net result for the year (+€4,320)
- Reserves +€4,320
up €4,320 (+4.2%), from €102,772 to €107,092
- Tax, wage and social debts +€2,882
new in 2025: €2,882
- Other debts +€1,819
up €1,819 (+32.1%), from €5,670 to €7,489
- Depreciation -€380
down €380 (-19.1%), from €1,987 to €1,607
- Financial charges -€302
down €302 (-80.7%), from €374 to €72
- Gross operating margin -€286
down €286 (-3.5%), from €8,276 to €7,989
- Taxes +€89
up €89 (+6.1%), from €1,471 to €1,560
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 | €134,309 | €144,698 | +€10,389 | +7.7% |
| Fixed assets | 21/28 | €1,590 | €1,535 | -€56 | -3.5% |
| Tangible fixed assets | 22/27 | €1,590 | €1,535 | -€56 | -3.5% |
| Plant, machinery and equipment | 23 | - | €440 | +€440 | |
| Furniture and vehicles | 24 | €1,590 | €1,094 | -€496 | -31.2% |
| Current assets | 29/58 | €132,719 | €143,164 | +€10,445 | +7.9% |
| Stocks and contracts in progress | 3 | €41,131 | €53,350 | +€12,218 | +29.7% |
| Stocks | 30/36 | €41,131 | €53,350 | +€12,218 | +29.7% |
| Amounts receivable within one year | 40/41 | €23,598 | €17,356 | -€6,242 | -26.5% |
| Trade receivables | 40 | €17,320 | €14,387 | -€2,932 | -16.9% |
| Other amounts receivable | 41 | €6,279 | €2,969 | -€3,310 | -52.7% |
| Cash at bank and in hand | 54/58 | €64,055 | €68,356 | +€4,301 | +6.7% |
| Deferred charges and accrued income | 490/1 | €3,934 | €4,101 | +€168 | +4.3% |
| Total equity and liabilities | 10/49 | €134,309 | €144,698 | +€10,389 | +7.7% |
| Equity | 10/15 | €104,772 | €109,092 | +€4,320 | +4.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €102,772 | €107,092 | +€4,320 | +4.2% |
| Distributable reserves | 133 | €102,772 | €107,092 | +€4,320 | +4.2% |
| Amounts payable | 17/49 | €29,537 | €35,607 | +€6,070 | +20.5% |
| Amounts payable after more than one year | 17 | €12,500 | €12,500 | = | 0.0% |
| Financial debts | 170/4 | €12,500 | €12,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €17,037 | €23,107 | +€6,070 | +35.6% |
| Trade debts | 44 | €11,367 | €12,735 | +€1,368 | +12.0% |
| Suppliers | 440/4 | €11,367 | €12,735 | +€1,368 | +12.0% |
| Taxes, remuneration and social security | 45 | - | €2,882 | +€2,882 | |
| Taxes | 450/3 | - | €2,882 | +€2,882 | |
| Other amounts payable | 47/48 | €5,670 | €7,489 | +€1,819 | +32.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,987 | €1,607 | -€380 | -19.1% |
| Other operating charges | 640/8 | €480 | €457 | -€24 | -4.9% |
| Gross operating margin | 9900 | €8,276 | €7,989 | -€286 | -3.5% |
| Operating profit (loss) | 9901 | €5,809 | €5,926 | +€117 | +2.0% |
| Financial income | 75/76B | €51 | €27 | -€25 | -48.3% |
| Recurring financial income | 75 | €51 | €27 | -€25 | -48.3% |
| Financial charges | 65/66B | €374 | €72 | -€302 | -80.7% |
| Recurring financial charges | 65 | €374 | €72 | -€302 | -80.7% |
| Profit (loss) for the period before taxes | 9903 | €5,486 | €5,880 | +€394 | +7.2% |
| Income taxes | 67/77 | €1,471 | €1,560 | +€89 | +6.1% |
| Profit (loss) for the period | 9904 | €4,015 | €4,320 | +€305 | +7.6% |
| Profit (loss) for the period to be appropriated | 9905 | €4,015 | €4,320 | +€305 | +7.6% |
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 18 October 2026 via checked.be.