Eltho Groep: 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.
Eltho Groep
Largest movements
- Cash +€12,457
up €12,457 (+9.4%), from €132,368 to €144,825
mainly Net result for the year (+€21,730) and Depreciation (+€7,931)
- Tangible fixed assets -€7,931
down €7,931 (-33.3%), from €23,848 to €15,917
of which Furniture and vehicles: -€7,431
- Receivables within one year -€5,968
down €5,968 (-15.4%), from €38,641 to €32,673
of which Trade receivables: -€7,786
- Tax, wage and social debts -€24,862
down €24,862 (-70.6%), from €35,199 to €10,337
- Reserves +€21,730
up €21,730 (+11.5%), from €189,135 to €210,865
- Gross operating margin -€43,199
down €43,199 (-55.3%), from €78,078 to €34,879
- Taxes -€7,509
down €7,509 (-47.7%), from €15,731 to €8,221
- Financial income +€4,372
up €4,372 (+725%), from €603 to €4,975
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.
Derived cash bridge
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 | €228,744 | €227,241 | -€1,503 | -0.7% |
| Fixed assets | 21/28 | €23,848 | €15,917 | -€7,931 | -33.3% |
| Tangible fixed assets | 22/27 | €23,848 | €15,917 | -€7,931 | -33.3% |
| Furniture and vehicles | 24 | €22,523 | €15,092 | -€7,431 | -33.0% |
| Other tangible fixed assets | 26 | €1,325 | €825 | -€500 | -37.7% |
| Current assets | 29/58 | €204,896 | €211,324 | +€6,428 | +3.1% |
| Amounts receivable after more than one year | 29 | €30,000 | €30,000 | = | 0.0% |
| Other amounts receivable | 291 | €30,000 | €30,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €38,641 | €32,673 | -€5,968 | -15.4% |
| Trade receivables | 40 | €38,641 | €30,855 | -€7,786 | -20.1% |
| Other amounts receivable | 41 | - | €1,818 | +€1,818 | |
| Cash at bank and in hand | 54/58 | €132,368 | €144,825 | +€12,457 | +9.4% |
| Deferred charges and accrued income | 490/1 | €3,888 | €3,827 | -€61 | -1.6% |
| Total equity and liabilities | 10/49 | €228,744 | €227,241 | -€1,503 | -0.7% |
| Equity | 10/15 | €191,135 | €212,865 | +€21,730 | +11.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €189,135 | €210,865 | +€21,730 | +11.5% |
| Distributable reserves | 133 | €189,135 | €210,865 | +€21,730 | +11.5% |
| Amounts payable | 17/49 | €37,610 | €14,376 | -€23,234 | -61.8% |
| Amounts payable within one year | 42/48 | €37,610 | €14,376 | -€23,234 | -61.8% |
| Trade debts | 44 | €2,082 | €3,919 | +€1,838 | +88.3% |
| Suppliers | 440/4 | €2,082 | €3,919 | +€1,838 | +88.3% |
| Taxes, remuneration and social security | 45 | €35,199 | €10,337 | -€24,862 | -70.6% |
| Taxes | 450/3 | €35,199 | €10,337 | -€24,862 | -70.6% |
| Other amounts payable | 47/48 | €329 | €119 | -€210 | -63.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,260 | €7,931 | -€328 | -4.0% |
| Other operating charges | 640/8 | €830 | €1,593 | +€763 | +92.0% |
| Gross operating margin | 9900 | €78,078 | €34,879 | -€43,199 | -55.3% |
| Operating profit (loss) | 9901 | €68,988 | €25,354 | -€43,634 | -63.2% |
| Financial income | 75/76B | €603 | €4,975 | +€4,372 | +725% |
| Recurring financial income | 75 | €603 | €4,975 | +€4,372 | +725% |
| Financial charges | 65/66B | €238 | €378 | +€140 | +59.0% |
| Recurring financial charges | 65 | €238 | €378 | +€140 | +59.0% |
| Profit (loss) for the period before taxes | 9903 | €69,354 | €29,951 | -€39,402 | -56.8% |
| Income taxes | 67/77 | €15,731 | €8,221 | -€7,509 | -47.7% |
| Profit (loss) for the period | 9904 | €53,623 | €21,730 | -€31,893 | -59.5% |
| Profit (loss) for the period to be appropriated | 9905 | €53,623 | €21,730 | -€31,893 | -59.5% |
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 29 October 2026 via checked.be.