ELTEC: 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.
ELTEC
Largest movements
- Receivables within one year +€166,510
up €166,510 (+59.6%), from €279,195 to €445,705
of which Other amounts receivable: +€166,820
- Cash +€16,289
up €16,289 (+44.3%), from €36,779 to €53,068
mainly Net result for the year (+€92,615) and Other debts (+€70,816)
- Tangible fixed assets -€9,726
down €9,726 (-30.6%), from €31,753 to €22,027
- Reserves +€87,000
up €87,000 (+22.2%), from €391,416 to €478,416
of which Distributable reserves: +€87,000
- Other debts +€70,816
up €70,816 (+98.2%), from €72,103 to €142,918
- Gross operating margin +€108,326
up €108,326 (+564.5%), from €19,188 to €127,514
- Taxes +€17,500
up €17,500 (+700.0%), from €2,500 to €20,000
- Financial charges +€2,335
up €2,335 (+718.1%), from €325 to €2,660
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 | €623,453 | €796,525 | +€173,072 | +27.8% |
| Fixed assets | 21/28 | €276,251 | €266,524 | -€9,726 | -3.5% |
| Tangible fixed assets | 22/27 | €31,753 | €22,027 | -€9,726 | -30.6% |
| Furniture and vehicles | 24 | €31,753 | €22,027 | -€9,726 | -30.6% |
| Financial fixed assets | 28 | €244,498 | €244,498 | = | 0.0% |
| Current assets | 29/58 | €347,202 | €530,001 | +€182,799 | +52.6% |
| Amounts receivable within one year | 40/41 | €279,195 | €445,705 | +€166,510 | +59.6% |
| Trade receivables | 40 | €4,419 | €4,109 | -€310 | -7.0% |
| Other amounts receivable | 41 | €274,776 | €441,596 | +€166,820 | +60.7% |
| Current investments | 50/53 | €20,070 | €20,070 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €36,779 | €53,068 | +€16,289 | +44.3% |
| Deferred charges and accrued income | 490/1 | €11,157 | €11,157 | = | 0.0% |
| Total equity and liabilities | 10/49 | €623,453 | €796,525 | +€173,072 | +27.8% |
| Equity | 10/15 | €432,750 | €525,365 | +€92,615 | +21.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Capital | 10 | €12,400 | €12,400 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €391,416 | €478,416 | +€87,000 | +22.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €108,556 | €108,556 | = | 0.0% |
| Distributable reserves | 133 | €281,000 | €368,000 | +€87,000 | +31.0% |
| Profit (loss) carried forward | 14 | €28,934 | €34,549 | +€5,615 | +19.4% |
| Provisions and deferred taxes | 16 | €15,000 | €15,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €15,000 | €15,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €15,000 | €15,000 | = | 0.0% |
| Amounts payable | 17/49 | €175,703 | €256,160 | +€80,457 | +45.8% |
| Amounts payable within one year | 42/48 | €83,432 | €163,962 | +€80,530 | +96.5% |
| Trade debts | 44 | €2,029 | €4,483 | +€2,454 | +120.9% |
| Suppliers | 440/4 | €2,029 | €4,483 | +€2,454 | +120.9% |
| Taxes, remuneration and social security | 45 | €9,301 | €16,561 | +€7,260 | +78.1% |
| Taxes | 450/3 | €9,301 | €16,561 | +€7,260 | +78.1% |
| Other amounts payable | 47/48 | €72,103 | €142,918 | +€70,816 | +98.2% |
| Accrued charges and deferred income | 492/3 | €92,271 | €92,198 | -€72 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,420 | €11,743 | +€323 | +2.8% |
| Other operating charges | 640/8 | €738 | €1,033 | +€295 | +40.0% |
| Gross operating margin | 9900 | €19,188 | €127,514 | +€108,326 | +564.5% |
| Operating profit (loss) | 9901 | €7,030 | €114,738 | +€107,708 | +1532.0% |
| Financial income | 75/76B | €1,810 | €537 | -€1,273 | -70.4% |
| Recurring financial income | 75 | €1,810 | €537 | -€1,273 | -70.4% |
| Financial charges | 65/66B | €325 | €2,660 | +€2,335 | +718.1% |
| Recurring financial charges | 65 | €325 | €2,660 | +€2,335 | +718.1% |
| Profit (loss) for the period before taxes | 9903 | €8,515 | €112,615 | +€104,100 | +1222.5% |
| Income taxes | 67/77 | €2,500 | €20,000 | +€17,500 | +700.0% |
| Profit (loss) for the period | 9904 | €6,015 | €92,615 | +€86,600 | +1439.7% |
| Profit (loss) for the period to be appropriated | 9905 | €6,015 | €92,615 | +€86,600 | +1439.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.