ELTEPE - MANAGEMENT: 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.
ELTEPE - MANAGEMENT
Largest movements
- Current investments +€96,707
up €96,707 (+96.7%), from €100,000 to €196,707
- Cash -€43,424
down €43,424 (-69.4%), from €62,601 to €19,177
mainly Current investments (-€96,707) and Smaller working-capital items (-€46)
- Tangible fixed assets -€14,257
down €14,257 (-5.0%), from €284,344 to €270,087
of which Land and buildings: -€13,847
- Reserves +€23,800
up €23,800 (+43.7%), from €54,402 to €78,202
of which Distributable reserves: +€23,800
- Profit (loss) carried forward +€15,272
up €15,272 (+5.0%), from €303,752 to €319,024
- Financial income +€3,286
up €3,286 (+192.4%), from €1,708 to €4,994
- Gross operating margin +€2,790
up €2,790 (+4.3%), from €64,234 to €67,024
- Taxes -€1,410
down €1,410 (-11.4%), from €12,317 to €10,907
- Depreciation -€1,317
down €1,317 (-8.5%), from €15,575 to €14,258
- Other operating charges +€1,012
up €1,012 (+16.3%), from €6,215 to €7,227
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 | €450,106 | €489,183 | +€39,077 | +8.7% |
| Fixed assets | 21/28 | €284,344 | €270,087 | -€14,257 | -5.0% |
| Tangible fixed assets | 22/27 | €284,344 | €270,087 | -€14,257 | -5.0% |
| Land and buildings | 22 | €283,318 | €269,471 | -€13,847 | -4.9% |
| Plant, machinery and equipment | 23 | €619 | €310 | -€309 | -49.9% |
| Furniture and vehicles | 24 | €407 | €306 | -€101 | -24.8% |
| Current assets | 29/58 | €165,762 | €219,096 | +€53,334 | +32.2% |
| Amounts receivable within one year | 40/41 | €2,519 | €2,539 | +€20 | +0.8% |
| Trade receivables | 40 | €1,422 | €1,434 | +€12 | +0.8% |
| Other amounts receivable | 41 | €1,097 | €1,105 | +€8 | +0.7% |
| Current investments | 50/53 | €100,000 | €196,707 | +€96,707 | +96.7% |
| Cash at bank and in hand | 54/58 | €62,601 | €19,177 | -€43,424 | -69.4% |
| Deferred charges and accrued income | 490/1 | €642 | €673 | +€31 | +4.8% |
| Total equity and liabilities | 10/49 | €450,106 | €489,183 | +€39,077 | +8.7% |
| Equity | 10/15 | €449,884 | €488,956 | +€39,072 | +8.7% |
| Contributions | 10/11 | €91,730 | €91,730 | = | 0.0% |
| Reserves | 13 | €54,402 | €78,202 | +€23,800 | +43.7% |
| Non-distributable reserves | 130/1 | €9,173 | €9,173 | = | 0.0% |
| Reserves not available under the articles | 1311 | €9,173 | €9,173 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,845 | €4,845 | = | 0.0% |
| Distributable reserves | 133 | €40,384 | €64,184 | +€23,800 | +58.9% |
| Profit (loss) carried forward | 14 | €303,752 | €319,024 | +€15,272 | +5.0% |
| Amounts payable | 17/49 | €222 | €227 | +€5 | +2.3% |
| Amounts payable within one year | 42/48 | €222 | €227 | +€5 | +2.3% |
| Trade debts | 44 | €96 | €128 | +€32 | +33.3% |
| Suppliers | 440/4 | €96 | €128 | +€32 | +33.3% |
| Taxes, remuneration and social security | 45 | €126 | €99 | -€27 | -21.4% |
| Taxes | 450/3 | €126 | €99 | -€27 | -21.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,575 | €14,258 | -€1,317 | -8.5% |
| Other operating charges | 640/8 | €6,215 | €7,227 | +€1,012 | +16.3% |
| Gross operating margin | 9900 | €64,234 | €67,024 | +€2,790 | +4.3% |
| Operating profit (loss) | 9901 | €42,444 | €45,539 | +€3,095 | +7.3% |
| Financial income | 75/76B | €1,708 | €4,994 | +€3,286 | +192.4% |
| Recurring financial income | 75 | €1,708 | €4,994 | +€3,286 | +192.4% |
| Financial charges | 65/66B | €653 | €554 | -€99 | -15.2% |
| Recurring financial charges | 65 | €653 | €554 | -€99 | -15.2% |
| Profit (loss) for the period before taxes | 9903 | €43,499 | €49,979 | +€6,480 | +14.9% |
| Income taxes | 67/77 | €12,317 | €10,907 | -€1,410 | -11.4% |
| Profit (loss) for the period | 9904 | €31,182 | €39,072 | +€7,890 | +25.3% |
| Profit (loss) for the period to be appropriated | 9905 | €31,182 | €39,072 | +€7,890 | +25.3% |
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 12 October 2026 via checked.be.