ELTEE: what changed
ELTEE
Largest movements
- Cash +€39,093
up €39,093 (+32.7%), from €119,421 to €158,514
mainly Other debts (+€99,325) and Net result for the year (+€74,702)
- Current investments +€36,000
up €36,000 (+1,200%), from €3,000 to €39,000
- Tangible fixed assets -€14,616
down €14,616 (-47.5%), from €30,785 to €16,169
- Receivables within one year -€12,850
down €12,850 (-41.3%), from €31,145 to €18,295
of which Other amounts receivable: -€10,817
- Other debts +€99,325
up €99,325 (+1,110%), from €8,947 to €108,272
- Reserves -€40,769
down €40,769 (-33.9%), from €120,197 to €79,428
- Current portion of long-term debt -€10,536
down €10,536 (-66.1%), from €15,938 to €5,402
- Debts after one year -€5,402
down €5,402 (-100%), from €5,402 to €0
- Tax, wage and social debts +€5,036
up €5,036 (+37.8%), from €13,320 to €18,356
- Gross operating margin +€91,934
up €91,934 (+524%), from €17,552 to €109,486
- Taxes +€18,471
up €18,471 (+1,235%), from €1,495 to €19,967
- Financial income -€7,936
down €7,936 (-88.6%), from €8,958 to €1,022
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €184,636 | €232,295 | +€47,659 | +25.8% |
| Fixed assets | 21/28 | €30,785 | €16,169 | -€14,616 | -47.5% |
| Tangible fixed assets | 22/27 | €30,785 | €16,169 | -€14,616 | -47.5% |
| Furniture and vehicles | 24 | €30,785 | €16,169 | -€14,616 | -47.5% |
| Current assets | 29/58 | €153,851 | €216,126 | +€62,275 | +40.5% |
| Amounts receivable within one year | 40/41 | €31,145 | €18,295 | -€12,850 | -41.3% |
| Trade receivables | 40 | €20,328 | €18,295 | -€2,033 | -10.0% |
| Other amounts receivable | 41 | €10,817 | €0 | -€10,817 | -100% |
| Current investments | 50/53 | €3,000 | €39,000 | +€36,000 | +1,200% |
| Cash at bank and in hand | 54/58 | €119,421 | €158,514 | +€39,093 | +32.7% |
| Deferred charges and accrued income | 490/1 | €285 | €317 | +€32 | +11.3% |
| Total equity and liabilities | 10/49 | €184,636 | €232,295 | +€47,659 | +25.8% |
| Equity | 10/15 | €138,797 | €98,028 | -€40,769 | -29.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €120,197 | €79,428 | -€40,769 | -33.9% |
| Distributable reserves | 133 | €120,197 | €79,428 | -€40,769 | -33.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €45,839 | €134,268 | +€88,428 | +193% |
| Amounts payable after more than one year | 17 | €5,402 | €0 | -€5,402 | -100% |
| Financial debts | 170/4 | €5,402 | €0 | -€5,402 | -100% |
| Amounts payable within one year | 42/48 | €40,437 | €134,268 | +€93,830 | +232% |
| Current portion of amounts payable after more than one year | 42 | €15,938 | €5,402 | -€10,536 | -66.1% |
| Trade debts | 44 | €2,233 | €2,238 | +€5 | +0.2% |
| Suppliers | 440/4 | €2,233 | €2,238 | +€5 | +0.2% |
| Taxes, remuneration and social security | 45 | €13,320 | €18,356 | +€5,036 | +37.8% |
| Taxes | 450/3 | €13,320 | €18,356 | +€5,036 | +37.8% |
| Other amounts payable | 47/48 | €8,947 | €108,272 | +€99,325 | +1,110% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,624 | €14,616 | -€8 | -0.1% |
| Other operating charges | 640/8 | €780 | €804 | +€24 | +3.0% |
| Gross operating margin | 9900 | €17,552 | €109,486 | +€91,934 | +524% |
| Operating profit (loss) | 9901 | €2,148 | €94,066 | +€91,918 | +4,280% |
| Financial income | 75/76B | €8,958 | €1,022 | -€7,936 | -88.6% |
| Recurring financial income | 75 | €8,958 | €1,022 | -€7,936 | -88.6% |
| Financial charges | 65/66B | €821 | €420 | -€401 | -48.9% |
| Recurring financial charges | 65 | €821 | €420 | -€401 | -48.9% |
| Profit (loss) for the period before taxes | 9903 | €10,285 | €94,668 | +€84,384 | +820% |
| Income taxes | 67/77 | €1,495 | €19,967 | +€18,471 | +1,235% |
| Profit (loss) for the period | 9904 | €8,789 | €74,702 | +€65,912 | +750% |
| Profit (loss) for the period to be appropriated | 9905 | €8,789 | €74,702 | +€65,912 | +750% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.