ELSWARE: 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.
ELSWARE
Largest movements
- Receivables within one year -€22,741
down €22,741 (-17.2%), from €132,036 to €109,295
of which Other amounts receivable: -€15,717
- Intangible fixed assets -€7,617
down €7,617 (-100.0%), from €7,617 to €0
- Other debts -€17,875
down €17,875 (-37.9%), from €47,179 to €29,304
- Tax, wage and social debts -€14,794
down €14,794 (-33.2%), from €44,515 to €29,721
- Short-term financial debts +€11,117
up €11,117 (+50.7%), from €21,945 to €33,062
- Reserves -€8,330
down €8,330 (-100.0%), from €8,330 to €0
of which Distributable reserves: -€8,330
- Trade debts -€1,693
down €1,693 (-82.8%), from €2,046 to €353
- Depreciation -€9,587
down €9,587 (-52.0%), from €18,435 to €8,848
- Gross operating margin -€9,061
down €9,061 (-15.3%), from €59,371 to €50,310
- Financial charges +€5,080
up €5,080 (+85.7%), from €5,925 to €11,005
- Taxes -€1,100
down €1,100 (-11.2%), from €9,799 to €8,698
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
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 | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €142,615 | €111,041 | -€31,574 | -22.1% |
| Fixed assets | 21/28 | €10,038 | €1,190 | -€8,848 | -88.1% |
| Intangible fixed assets | 21 | €7,617 | €0 | -€7,617 | -100.0% |
| Tangible fixed assets | 22/27 | €2,421 | €1,190 | -€1,231 | -50.9% |
| Furniture and vehicles | 24 | €2,421 | €1,190 | -€1,231 | -50.9% |
| Current assets | 29/58 | €132,577 | €109,851 | -€22,726 | -17.1% |
| Amounts receivable within one year | 40/41 | €132,036 | €109,295 | -€22,741 | -17.2% |
| Trade receivables | 40 | €19,058 | €12,033 | -€7,024 | -36.9% |
| Other amounts receivable | 41 | €112,978 | €97,261 | -€15,717 | -13.9% |
| Deferred charges and accrued income | 490/1 | €541 | €556 | +€16 | +2.9% |
| Total equity and liabilities | 10/49 | €142,615 | €111,041 | -€31,574 | -22.1% |
| Equity | 10/15 | €26,930 | €18,600 | -€8,330 | -30.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €8,330 | €0 | -€8,330 | -100.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €8,330 | €0 | -€8,330 | -100.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €115,685 | €92,441 | -€23,244 | -20.1% |
| Amounts payable within one year | 42/48 | €115,685 | €92,441 | -€23,244 | -20.1% |
| Financial debts | 43 | €21,945 | €33,062 | +€11,117 | +50.7% |
| Credit institutions | 430/8 | €21,945 | €33,062 | +€11,117 | +50.7% |
| Trade debts | 44 | €2,046 | €353 | -€1,693 | -82.8% |
| Suppliers | 440/4 | €2,046 | €353 | -€1,693 | -82.8% |
| Taxes, remuneration and social security | 45 | €44,515 | €29,721 | -€14,794 | -33.2% |
| Taxes | 450/3 | €44,515 | €29,721 | -€14,794 | -33.2% |
| Other amounts payable | 47/48 | €47,179 | €29,304 | -€17,875 | -37.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,435 | €8,848 | -€9,587 | -52.0% |
| Other operating charges | 640/8 | €3,579 | €2,992 | -€587 | -16.4% |
| Gross operating margin | 9900 | €59,371 | €50,310 | -€9,061 | -15.3% |
| Operating profit (loss) | 9901 | €37,357 | €38,470 | +€1,113 | +3.0% |
| Financial income | 75/76B | €6,446 | €6,399 | -€47 | -0.7% |
| Recurring financial income | 75 | €6,446 | €6,399 | -€47 | -0.7% |
| Financial charges | 65/66B | €5,925 | €11,005 | +€5,080 | +85.7% |
| Recurring financial charges | 65 | €5,925 | €11,005 | +€5,080 | +85.7% |
| Profit (loss) for the period before taxes | 9903 | €37,877 | €33,864 | -€4,013 | -10.6% |
| Income taxes | 67/77 | €9,799 | €8,698 | -€1,100 | -11.2% |
| Profit (loss) for the period | 9904 | €28,079 | €25,166 | -€2,913 | -10.4% |
| Profit (loss) for the period to be appropriated | 9905 | €28,079 | €25,166 | -€2,913 | -10.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.