ELTB: 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.
ELTB
Largest movements
- Tangible fixed assets -€34,499
no longer reported in 2025 (was €34,499)
of which Furniture and vehicles: -€34,499
- Receivables within one year -€23,380
no longer reported in 2025 (was €23,380)
of which Trade receivables: -€22,708
- Cash -€662
down €662 (-96.3%), from €687 to €25
mainly Net result for the year (-€31,055) and Trade debts (-€18,126)
- Profit (loss) carried forward -€31,055
down €31,055, from €13,462 to -€17,593
- Trade debts -€18,126
no longer reported in 2025 (was €18,126)
- Other debts -€9,360
down €9,360 (-56.8%), from €16,479 to €7,118
- Gross operating margin +€18,378
up €18,378 (+69.0%), from -€26,619 to -€8,241
- Financial income -€12,623
no longer reported in 2025 (was €12,623)
of which Non-recurring financial income: -€12,500
- Financial charges +€9,943
up €9,943 (+6612.1%), from €150 to €10,093
- Depreciation -€1,606
down €1,606 (-12.0%), from €13,420 to €11,814
- Other operating charges -€327
down €327 (-26.5%), from €1,233 to €906
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
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 | €58,566 | €25 | -€58,541 | -100.0% |
| Fixed assets | 21/28 | €34,499 | - | -€34,499 | |
| Tangible fixed assets | 22/27 | €34,499 | - | -€34,499 | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €34,499 | - | -€34,499 | |
| Current assets | 29/58 | €24,067 | €25 | -€24,042 | -99.9% |
| Amounts receivable within one year | 40/41 | €23,380 | - | -€23,380 | |
| Trade receivables | 40 | €22,708 | - | -€22,708 | |
| Other amounts receivable | 41 | €672 | - | -€672 | |
| Cash at bank and in hand | 54/58 | €687 | €25 | -€662 | -96.3% |
| Total equity and liabilities | 10/49 | €58,566 | €25 | -€58,541 | -100.0% |
| Equity | 10/15 | €23,962 | -€7,093 | -€31,055 | |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €500 | €500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €500 | €500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,462 | -€17,593 | -€31,055 | |
| Amounts payable | 17/49 | €34,605 | €7,118 | -€27,486 | -79.4% |
| Amounts payable within one year | 42/48 | €34,605 | €7,118 | -€27,486 | -79.4% |
| Trade debts | 44 | €18,126 | - | -€18,126 | |
| Suppliers | 440/4 | €18,126 | - | -€18,126 | |
| Other amounts payable | 47/48 | €16,479 | €7,118 | -€9,360 | -56.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,420 | €11,814 | -€1,606 | -12.0% |
| Other operating charges | 640/8 | €1,233 | €906 | -€327 | -26.5% |
| Gross operating margin | 9900 | -€26,619 | -€8,241 | +€18,378 | +69.0% |
| Operating profit (loss) | 9901 | -€41,273 | -€20,962 | +€20,311 | +49.2% |
| Financial income | 75/76B | €12,623 | - | -€12,623 | |
| Recurring financial income | 75 | €123 | - | -€123 | |
| Non-recurring financial income | 76B | €12,500 | - | -€12,500 | |
| Financial charges | 65/66B | €150 | €10,093 | +€9,943 | +6612.1% |
| Recurring financial charges | 65 | €150 | €10,093 | +€9,943 | +6612.1% |
| Profit (loss) for the period before taxes | 9903 | -€28,800 | -€31,055 | -€2,255 | -7.8% |
| Income taxes | 67/77 | -€43 | - | +€43 | |
| Profit (loss) for the period | 9904 | -€28,757 | -€31,055 | -€2,297 | -8.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€28,757 | -€31,055 | -€2,297 | -8.0% |
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 9 October 2026 via checked.be.