ELTA: 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.
ELTA
Largest movements
- Current investments +€450,000
up €450,000 (+3,817%), from €11,790 to €461,790
- Receivables within one year -€305,685
down €305,685 (-100%), from €305,685 to €0
- Cash -€122,686
down €122,686 (-73.3%), from €167,335 to €44,649
mainly Current investments (-€450,000)
- Profit (loss) carried forward +€17,163
up €17,163 (+9.2%), from €186,110 to €203,273
- Financial income -€2,242
down €2,242 (-68.7%), from €3,264 to €1,022
- Taxes -€1,604
down €1,604 (-25.9%), from €6,199 to €4,595
- Gross operating margin -€523
down €523 (-1.9%), from €27,916 to €27,393
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 | €540,928 | €562,564 | +€21,637 | +4.0% |
| Fixed assets | 21/28 | €55,711 | €55,711 | = | 0.0% |
| Tangible fixed assets | 22/27 | €55,711 | €55,711 | = | 0.0% |
| Land and buildings | 22 | €55,711 | €55,711 | = | 0.0% |
| Current assets | 29/58 | €485,216 | €506,853 | +€21,637 | +4.5% |
| Amounts receivable within one year | 40/41 | €305,685 | €0 | -€305,685 | -100% |
| Other amounts receivable | 41 | €305,685 | €0 | -€305,685 | -100% |
| Current investments | 50/53 | €11,790 | €461,790 | +€450,000 | +3,817% |
| Cash at bank and in hand | 54/58 | €167,335 | €44,649 | -€122,686 | -73.3% |
| Deferred charges and accrued income | 490/1 | €406 | €414 | +€8 | +2.0% |
| Total equity and liabilities | 10/49 | €540,928 | €562,564 | +€21,637 | +4.0% |
| Equity | 10/15 | €540,750 | €557,913 | +€17,163 | +3.2% |
| Contributions | 10/11 | €322,400 | €322,400 | = | 0.0% |
| Capital | 10 | €322,400 | €322,400 | = | 0.0% |
| Issued capital | 100 | €322,400 | €322,400 | = | 0.0% |
| Reserves | 13 | €32,240 | €32,240 | = | 0.0% |
| Non-distributable reserves | 130/1 | €32,240 | €32,240 | = | 0.0% |
| Legal reserve | 130 | €32,240 | €32,240 | = | 0.0% |
| Profit (loss) carried forward | 14 | €186,110 | €203,273 | +€17,163 | +9.2% |
| Amounts payable | 17/49 | €177 | €4,651 | +€4,474 | +2,525% |
| Amounts payable within one year | 42/48 | - | €4,417 | +€4,417 | |
| Taxes, remuneration and social security | 45 | - | €4,417 | +€4,417 | |
| Taxes | 450/3 | - | €4,417 | +€4,417 | |
| Accrued charges and deferred income | 492/3 | €177 | €234 | +€57 | +32.3% |
| Other operating charges | 640/8 | €6,117 | €6,310 | +€193 | +3.2% |
| Gross operating margin | 9900 | €27,916 | €27,393 | -€523 | -1.9% |
| Operating profit (loss) | 9901 | €21,799 | €21,083 | -€716 | -3.3% |
| Financial income | 75/76B | €3,264 | €1,022 | -€2,242 | -68.7% |
| Recurring financial income | 75 | €3,264 | €1,022 | -€2,242 | -68.7% |
| Financial charges | 65/66B | €266 | €347 | +€80 | +30.2% |
| Recurring financial charges | 65 | €266 | €347 | +€80 | +30.2% |
| Profit (loss) for the period before taxes | 9903 | €24,796 | €21,758 | -€3,038 | -12.3% |
| Income taxes | 67/77 | €6,199 | €4,595 | -€1,604 | -25.9% |
| Profit (loss) for the period | 9904 | €18,597 | €17,163 | -€1,434 | -7.7% |
| Profit (loss) for the period to be appropriated | 9905 | €18,597 | €17,163 | -€1,434 | -7.7% |
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 19 October 2026 via checked.be.