ELTHA: 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.
ELTHA
Largest movements
- Cash -€24,412
down €24,412 (-19.6%), from €124,704 to €100,292
mainly Receivables within one year (-€12,169) and Trade debts (-€12,140)
- Receivables within one year +€12,169
up €12,169 (+68.9%), from €17,670 to €29,839
of which Trade receivables: +€15,216
- Tangible fixed assets -€3,335
down €3,335 (-73.3%), from €4,549 to €1,214
of which Furniture and vehicles: -€1,937
- Trade debts -€12,140
down €12,140 (-25.0%), from €48,515 to €36,375
- Current portion of long-term debt -€5,214
no longer reported in 2025 (was €5,214)
- Profit (loss) carried forward +€3,447
up €3,447 (+8.6%), from €40,032 to €43,479
- Tax, wage and social debts -€2,140
down €2,140 (-30.1%), from €7,112 to €4,972
of which Taxes: -€1,830
- Gross operating margin -€24,686
down €24,686 (-73.2%), from €33,714 to €9,028
- Staff costs -€12,121
no longer reported in 2025 (was €12,121)
- Depreciation -€3,306
down €3,306 (-49.8%), from €6,641 to €3,335
- Taxes -€1,830
down €1,830 (-48.3%), from €3,789 to €1,959
- Other operating charges -€935
no longer reported in 2025 (was €935)
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 | €148,136 | €132,956 | -€15,181 | -10.2% |
| Fixed assets | 21/28 | €4,549 | €1,214 | -€3,335 | -73.3% |
| Tangible fixed assets | 22/27 | €4,549 | €1,214 | -€3,335 | -73.3% |
| Plant, machinery and equipment | 23 | €2,195 | €797 | -€1,398 | -63.7% |
| Furniture and vehicles | 24 | €2,354 | €417 | -€1,937 | -82.3% |
| Current assets | 29/58 | €143,587 | €131,742 | -€11,846 | -8.2% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Stocks | 30/36 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €17,670 | €29,839 | +€12,169 | +68.9% |
| Trade receivables | 40 | €5,523 | €20,740 | +€15,216 | +275.5% |
| Other amounts receivable | 41 | €12,147 | €9,099 | -€3,047 | -25.1% |
| Cash at bank and in hand | 54/58 | €124,704 | €100,292 | -€24,412 | -19.6% |
| Deferred charges and accrued income | 490/1 | €1,214 | €1,611 | +€398 | +32.8% |
| Total equity and liabilities | 10/49 | €148,136 | €132,956 | -€15,181 | -10.2% |
| Equity | 10/15 | €66,996 | €70,443 | +€3,447 | +5.1% |
| Contributions | 10/11 | €11,200 | €11,200 | = | 0.0% |
| Reserves | 13 | €15,765 | €15,765 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €13,905 | €13,905 | = | 0.0% |
| Profit (loss) carried forward | 14 | €40,032 | €43,479 | +€3,447 | +8.6% |
| Amounts payable | 17/49 | €81,140 | €62,512 | -€18,628 | -23.0% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €80,521 | €61,893 | -€18,628 | -23.1% |
| Current portion of amounts payable after more than one year | 42 | €5,214 | - | -€5,214 | |
| Trade debts | 44 | €48,515 | €36,375 | -€12,140 | -25.0% |
| Suppliers | 440/4 | €48,515 | €36,375 | -€12,140 | -25.0% |
| Taxes, remuneration and social security | 45 | €7,112 | €4,972 | -€2,140 | -30.1% |
| Taxes | 450/3 | €4,089 | €2,259 | -€1,830 | -44.7% |
| Remuneration and social security | 454/9 | €3,022 | €2,713 | -€310 | -10.2% |
| Other amounts payable | 47/48 | €19,680 | €20,546 | +€866 | +4.4% |
| Accrued charges and deferred income | 492/3 | €619 | €619 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €12,121 | - | -€12,121 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,641 | €3,335 | -€3,306 | -49.8% |
| Other operating charges | 640/8 | €935 | - | -€935 | |
| Gross operating margin | 9900 | €33,714 | €9,028 | -€24,686 | -73.2% |
| Operating profit (loss) | 9901 | €14,017 | €5,693 | -€8,324 | -59.4% |
| Financial income | 75/76B | €1 | €0 | -€1 | -67.6% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -67.6% |
| Financial charges | 65/66B | €694 | €287 | -€406 | -58.6% |
| Recurring financial charges | 65 | €694 | €287 | -€406 | -58.6% |
| Profit (loss) for the period before taxes | 9903 | €13,325 | €5,407 | -€7,918 | -59.4% |
| Income taxes | 67/77 | €3,789 | €1,959 | -€1,830 | -48.3% |
| Profit (loss) for the period | 9904 | €9,535 | €3,447 | -€6,088 | -63.8% |
| Profit (loss) for the period to be appropriated | 9905 | €9,535 | €3,447 | -€6,088 | -63.8% |
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.