ELTA: 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.
What changed
ELTA
NACE 42.212, Civil engineering
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€308,285
2024 · €73,277+€235,008
Equity
€2.2m
2024 · €2.2m-€5,775
Cash
€948,534
2024 · €282,559+€665,975
Balance sheet total
€5.7m
2024 · €5.2m+€553,718
Largest movements
Assets
- Cash +€665,975
up €665,975 (+235.7%), from €282,559 to €948,534
mainly Trade debts (+€547,442) and Net result for the year (+€308,285)
- Receivables within one year -€115,676
down €115,676 (-3.4%), from €3.4m to €3.3m
of which Trade receivables: -€254,751
- Tangible fixed assets -€61,517
down €61,517 (-8.2%), from €748,215 to €686,698
of which Furniture and vehicles: -€52,263
Equity and liabilities
- Trade debts +€547,442
up €547,442 (+28.5%), from €1.9m to €2.5m
- Other debts +€264,440
up €264,440 (+519.9%), from €50,868 to €315,307
- Tax, wage and social debts -€151,656
down €151,656 (-42.8%), from €354,382 to €202,726
of which Remuneration and social security: -€182,922
- Debts after one year -€72,361
down €72,361 (-18.5%), from €390,752 to €318,391
Income statement
- Gross operating margin +€1.2m
up €1.2m (+39.5%), from €3.1m to €4.4m
- Staff costs +€870,357
up €870,357 (+32.5%), from €2.7m to €3.6m
- Taxes +€97,159
up €97,159 (+249.1%), from €39,001 to €136,160
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.
Result 2024
€73,277
Gross operating margin
+€1.2m
Staff costs
-€870,357
Depreciation
-€24,593
Provisions
-€9,550
Other operating charges
-€4,515
Other operating items
-€8,884
Financial income
+€7,230
Financial charges
-€1,538
Taxes
-€97,159
Deferred taxes and other
+€11,144
Result 2025
€308,285
Cash bridge derived
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.
From operations
+€1.3m
Investment
-€204,766
Financing
-€416,947
Cash 2024
€282,559
From operations (derived)
+€1.3m
Net result for the year
+€308,285
Depreciation
+€268,203
Stocks and contracts
-€30,000
Receivables within one year
+€115,676
Deferred charges and accrued income
-€36,855
Provisions
-€531
Trade debts
+€547,442
Tax, wage and social debts
-€151,656
Other debts
+€264,440
Accrued charges and deferred income
+€2,685
Investment (derived)
-€204,766
Investment in fixed assets (net)
-€204,766
Financing
-€416,947
Debts after one year
-€72,361
Current portion of long-term debt
-€30,526
Contributions, distributions and other
-€314,060
Cash 2025
€948,534
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,159,566 | €5,713,283 | +€553,718 | +10.7% |
| Fixed assets | 21/28 | €750,395 | €686,958 | -€63,437 | -8.5% |
| Tangible fixed assets | 22/27 | €748,215 | €686,698 | -€61,517 | -8.2% |
| Plant, machinery and equipment | 23 | €97,403 | €80,102 | -€17,301 | -17.8% |
| Furniture and vehicles | 24 | €635,012 | €582,750 | -€52,263 | -8.2% |
| Leasing and similar rights | 25 | €14,126 | €0 | -€14,126 | -100.0% |
| Other tangible fixed assets | 26 | €1,674 | €23,846 | +€22,173 | +1324.6% |
| Financial fixed assets | 28 | €2,180 | €260 | -€1,920 | -88.1% |
| Current assets | 29/58 | €4,409,171 | €5,026,325 | +€617,154 | +14.0% |
| Amounts receivable after more than one year | 29 | €318,000 | €318,000 | = | 0.0% |
| Other amounts receivable | 291 | €318,000 | €318,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €370,050 | €400,050 | +€30,000 | +8.1% |
| Stocks | 30/36 | €370,050 | €400,050 | +€30,000 | +8.1% |
| Amounts receivable within one year | 40/41 | €3,385,236 | €3,269,559 | -€115,676 | -3.4% |
| Trade receivables | 40 | €2,962,976 | €2,708,225 | -€254,751 | -8.6% |
| Other amounts receivable | 41 | €422,259 | €561,334 | +€139,075 | +32.9% |
| Cash at bank and in hand | 54/58 | €282,559 | €948,534 | +€665,975 | +235.7% |
| Deferred charges and accrued income | 490/1 | €53,326 | €90,182 | +€36,855 | +69.1% |
| Total equity and liabilities | 10/49 | €5,159,566 | €5,713,283 | +€553,718 | +10.7% |
| Equity | 10/15 | €2,160,686 | €2,154,911 | -€5,775 | -0.3% |
| Reserves | 13 | €2,160,686 | €2,154,911 | -€5,775 | -0.3% |
| Tax-exempt reserves | 132 | €2,160,686 | €2,154,911 | -€5,775 | -0.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €46,072 | €45,541 | -€531 | -1.2% |
| Provisions for liabilities and charges | 160/5 | €36,853 | €38,247 | +€1,394 | +3.8% |
| Other liabilities and charges | 164/5 | €36,853 | €38,247 | +€1,394 | +3.8% |
| Deferred taxes | 168 | €9,219 | €7,294 | -€1,925 | -20.9% |
| Amounts payable | 17/49 | €2,952,808 | €3,512,832 | +€560,024 | +19.0% |
| Amounts payable after more than one year | 17 | €390,752 | €318,391 | -€72,361 | -18.5% |
| Financial debts | 170/4 | €390,752 | €318,391 | -€72,361 | -18.5% |
| Amounts payable within one year | 42/48 | €2,557,552 | €3,187,252 | +€629,700 | +24.6% |
| Current portion of amounts payable after more than one year | 42 | €233,576 | €203,050 | -€30,526 | -13.1% |
| Trade debts | 44 | €1,918,726 | €2,466,169 | +€547,442 | +28.5% |
| Suppliers | 440/4 | €1,918,726 | €2,466,169 | +€547,442 | +28.5% |
| Taxes, remuneration and social security | 45 | €354,382 | €202,726 | -€151,656 | -42.8% |
| Taxes | 450/3 | €46,272 | €77,538 | +€31,266 | +67.6% |
| Remuneration and social security | 454/9 | €308,110 | €125,188 | -€182,922 | -59.4% |
| Other amounts payable | 47/48 | €50,868 | €315,307 | +€264,440 | +519.9% |
| Accrued charges and deferred income | 492/3 | €4,504 | €7,189 | +€2,685 | +59.6% |
| Non-recurring operating income | 76A | €99,859 | €106,300 | +€6,440 | +6.4% |
| Remuneration, social security and pensions | 62 | €2,681,830 | €3,552,187 | +€870,357 | +32.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €243,610 | €268,203 | +€24,593 | +10.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€8,156 | €1,394 | +€9,550 | |
| Other operating charges | 640/8 | €44,354 | €48,868 | +€4,515 | +10.2% |
| Non-recurring operating charges | 66A | €5,398 | €14,282 | +€8,884 | +164.6% |
| Gross operating margin | 9900 | €3,119,487 | €4,352,715 | +€1.2m | +39.5% |
| Operating profit (loss) | 9901 | €152,451 | €467,782 | +€315,331 | +206.8% |
| Financial income | 75/76B | €10,175 | €17,405 | +€7,230 | +71.1% |
| Recurring financial income | 75 | €10,175 | €17,405 | +€7,230 | +71.1% |
| Financial charges | 65/66B | €41,129 | €42,667 | +€1,538 | +3.7% |
| Recurring financial charges | 65 | €41,129 | €42,667 | +€1,538 | +3.7% |
| Profit (loss) for the period before taxes | 9903 | €121,497 | €442,519 | +€321,023 | +264.2% |
| Transfer from deferred taxes | 780 | €406 | €1,925 | +€1,519 | +374.0% |
| Transfer to deferred taxes | 680 | €9,625 | €0 | -€9,625 | -100.0% |
| Income taxes | 67/77 | €39,001 | €136,160 | +€97,159 | +249.1% |
| Profit (loss) for the period | 9904 | €73,277 | €308,285 | +€235,008 | +320.7% |
| Transfer from tax-exempt reserves | 789 | €1,218 | €5,775 | +€4,557 | +374.0% |
| Transfer to tax-exempt reserves | 689 | €28,875 | €0 | -€28,875 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €45,620 | €314,060 | +€268,440 | +588.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.