ELTI-J: 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.
ELTI-J
Largest movements
- Cash +€39,393
up €39,393 (+37.4%), from €105,300 to €144,693
mainly Net result for the year (+€28,608) and Depreciation (+€15,564)
- Tangible fixed assets -€13,912
down €13,912 (-20.6%), from €67,662 to €53,750
of which Other tangible fixed assets: -€8,853
- Reserves +€28,000
up €28,000 (+32.9%), from €85,000 to €113,000
- Other debts -€6,116
down €6,116 (-70.8%), from €8,644 to €2,528
- Tax, wage and social debts +€4,676
up €4,676 (+175%), from €2,669 to €7,344
of which Taxes: +€4,640
- Gross operating margin +€14,098
up €14,098 (+27.6%), from €51,133 to €65,231
- Taxes +€4,709
up €4,709 (+48.4%), from €9,725 to €14,434
- Staff costs +€1,622
up €1,622 (+46.9%), from €3,456 to €5,078
- Other operating charges +€671
up €671 (+28.2%), from €2,383 to €3,054
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 | €179,497 | €204,997 | +€25,499 | +14.2% |
| Fixed assets | 21/28 | €68,162 | €54,250 | -€13,912 | -20.4% |
| Tangible fixed assets | 22/27 | €67,662 | €53,750 | -€13,912 | -20.6% |
| Plant, machinery and equipment | 23 | €27,025 | €21,966 | -€5,059 | -18.7% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Other tangible fixed assets | 26 | €40,637 | €31,784 | -€8,853 | -21.8% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €111,335 | €150,747 | +€39,411 | +35.4% |
| Stocks and contracts in progress | 3 | €2,000 | €2,580 | +€580 | +29.0% |
| Stocks | 30/36 | €2,000 | €2,580 | +€580 | +29.0% |
| Amounts receivable within one year | 40/41 | €1,470 | €2,206 | +€735 | +50.0% |
| Trade receivables | 40 | €1,470 | €2,206 | +€735 | +50.0% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €105,300 | €144,693 | +€39,393 | +37.4% |
| Deferred charges and accrued income | 490/1 | €2,565 | €1,268 | -€1,297 | -50.6% |
| Total equity and liabilities | 10/49 | €179,497 | €204,997 | +€25,499 | +14.2% |
| Equity | 10/15 | €166,830 | €193,677 | +€26,847 | +16.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €85,000 | €113,000 | +€28,000 | +32.9% |
| Distributable reserves | 133 | €85,000 | €113,000 | +€28,000 | +32.9% |
| Profit (loss) carried forward | 14 | €60,624 | €61,232 | +€608 | +1.0% |
| Investment grants | 15 | €8,807 | €7,045 | -€1,761 | -20.0% |
| Amounts payable | 17/49 | €12,667 | €11,319 | -€1,348 | -10.6% |
| Amounts payable within one year | 42/48 | €12,667 | €11,319 | -€1,348 | -10.6% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €1,354 | €1,447 | +€93 | +6.9% |
| Suppliers | 440/4 | €1,354 | €1,447 | +€93 | +6.9% |
| Taxes, remuneration and social security | 45 | €2,669 | €7,344 | +€4,676 | +175% |
| Taxes | 450/3 | €2,669 | €7,308 | +€4,640 | +174% |
| Remuneration and social security | 454/9 | - | €36 | +€36 | |
| Other amounts payable | 47/48 | €8,644 | €2,528 | -€6,116 | -70.8% |
| Remuneration, social security and pensions | 62 | €3,456 | €5,078 | +€1,622 | +46.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,324 | €15,564 | +€240 | +1.6% |
| Other operating charges | 640/8 | €2,383 | €3,054 | +€671 | +28.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €51,133 | €65,231 | +€14,098 | +27.6% |
| Operating profit (loss) | 9901 | €29,971 | €41,535 | +€11,564 | +38.6% |
| Financial income | 75/76B | €2,080 | €2,269 | +€189 | +9.1% |
| Recurring financial income | 75 | €2,080 | €2,269 | +€189 | +9.1% |
| Financial charges | 65/66B | €1,061 | €761 | -€299 | -28.2% |
| Recurring financial charges | 65 | €1,061 | €761 | -€299 | -28.2% |
| Profit (loss) for the period before taxes | 9903 | €30,990 | €43,042 | +€12,052 | +38.9% |
| Income taxes | 67/77 | €9,725 | €14,434 | +€4,709 | +48.4% |
| Profit (loss) for the period | 9904 | €21,265 | €28,608 | +€7,343 | +34.5% |
| Profit (loss) for the period to be appropriated | 9905 | €21,265 | €28,608 | +€7,343 | +34.5% |
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 20 October 2026 via checked.be.