ELTISOTI: 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.
ELTISOTI
Largest movements
- Receivables within one year -€211,107
down €211,107 (-80.9%), from €260,896 to €49,789
of which Trade receivables: -€211,008
- Cash +€173,819
up €173,819 (+191%), from €90,830 to €264,649
mainly Receivables within one year (+€211,107) and Depreciation (+€205,993)
- Tangible fixed assets -€167,986
down €167,986 (-7.5%), from €2.2m to €2.1m
of which Land and buildings: -€161,354
- Trade debts -€170,781
down €170,781 (-59.4%), from €287,354 to €116,573
- Reserves +€140,424
up €140,424 (+144%), from €97,839 to €238,263
of which Tax-exempt reserves: +€84,200
- Debts after one year -€140,049
down €140,049 (-7.7%), from €1.8m to €1.7m
- Advances received -€35,458
down €35,458 (-90.9%), from €39,015 to €3,557
- Gross operating margin +€208,824
up €208,824 (+44.8%), from €465,893 to €674,716
- Staff costs +€56,349
up €56,349 (+39.6%), from €142,329 to €198,678
- Taxes +€36,312
up €36,312 (+743%), from €4,884 to €41,197
- Depreciation +€19,351
up €19,351 (+10.4%), from €186,642 to €205,993
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 | €2,583,749 | €2,382,971 | -€200,778 | -7.8% |
| Fixed assets | 21/28 | €2,229,546 | €2,061,559 | -€167,986 | -7.5% |
| Tangible fixed assets | 22/27 | €2,227,246 | €2,059,259 | -€167,986 | -7.5% |
| Land and buildings | 22 | €2,203,925 | €2,042,571 | -€161,354 | -7.3% |
| Plant, machinery and equipment | 23 | €10,965 | €7,576 | -€3,389 | -30.9% |
| Furniture and vehicles | 24 | €12,356 | €9,112 | -€3,244 | -26.3% |
| Financial fixed assets | 28 | €2,300 | €2,300 | = | 0.0% |
| Current assets | 29/58 | €354,203 | €321,412 | -€32,791 | -9.3% |
| Stocks and contracts in progress | 3 | €2,324 | €3,443 | +€1,119 | +48.2% |
| Stocks | 30/36 | €2,324 | €3,443 | +€1,119 | +48.2% |
| Amounts receivable within one year | 40/41 | €260,896 | €49,789 | -€211,107 | -80.9% |
| Trade receivables | 40 | €259,269 | €48,261 | -€211,008 | -81.4% |
| Other amounts receivable | 41 | €1,627 | €1,528 | -€99 | -6.1% |
| Cash at bank and in hand | 54/58 | €90,830 | €264,649 | +€173,819 | +191% |
| Deferred charges and accrued income | 490/1 | €153 | €3,531 | +€3,378 | +2,209% |
| Total equity and liabilities | 10/49 | €2,583,749 | €2,382,971 | -€200,778 | -7.8% |
| Equity | 10/15 | €266,404 | €404,402 | +€137,997 | +51.8% |
| Contributions | 10/11 | €145,000 | €145,000 | = | 0.0% |
| Reserves | 13 | €97,839 | €238,263 | +€140,424 | +144% |
| Tax-exempt reserves | 132 | €297 | €84,497 | +€84,200 | +28,324% |
| Distributable reserves | 133 | €97,542 | €153,766 | +€56,224 | +57.6% |
| Investment grants | 15 | €23,565 | €21,138 | -€2,427 | -10.3% |
| Provisions and deferred taxes | 16 | €7,445 | €6,636 | -€809 | -10.9% |
| Deferred taxes | 168 | €7,445 | €6,636 | -€809 | -10.9% |
| Amounts payable | 17/49 | €2,309,900 | €1,971,934 | -€337,966 | -14.6% |
| Amounts payable after more than one year | 17 | €1,811,849 | €1,671,800 | -€140,049 | -7.7% |
| Financial debts | 170/4 | €1,811,849 | €1,671,800 | -€140,049 | -7.7% |
| Amounts payable within one year | 42/48 | €497,915 | €300,134 | -€197,781 | -39.7% |
| Current portion of amounts payable after more than one year | 42 | €145,869 | €140,049 | -€5,820 | -4.0% |
| Trade debts | 44 | €287,354 | €116,573 | -€170,781 | -59.4% |
| Suppliers | 440/4 | €287,354 | €116,573 | -€170,781 | -59.4% |
| Advances received on contracts in progress | 46 | €39,015 | €3,557 | -€35,458 | -90.9% |
| Taxes, remuneration and social security | 45 | €19,262 | €35,543 | +€16,281 | +84.5% |
| Taxes | 450/3 | €8,991 | €15,639 | +€6,648 | +73.9% |
| Remuneration and social security | 454/9 | €10,271 | €19,904 | +€9,633 | +93.8% |
| Other amounts payable | 47/48 | €6,416 | €4,411 | -€2,004 | -31.2% |
| Accrued charges and deferred income | 492/3 | €136 | €0 | -€136 | -100% |
| Remuneration, social security and pensions | 62 | €142,329 | €198,678 | +€56,349 | +39.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €186,642 | €205,993 | +€19,351 | +10.4% |
| Other operating charges | 640/8 | €29,984 | €27,105 | -€2,879 | -9.6% |
| Gross operating margin | 9900 | €465,893 | €674,716 | +€208,824 | +44.8% |
| Operating profit (loss) | 9901 | €106,938 | €242,941 | +€136,003 | +127% |
| Financial income | 75/76B | €10,360 | €4,034 | -€6,326 | -61.1% |
| Recurring financial income | 75 | €10,360 | €4,034 | -€6,326 | -61.1% |
| Financial charges | 65/66B | €64,379 | €66,163 | +€1,784 | +2.8% |
| Recurring financial charges | 65 | €64,379 | €66,163 | +€1,784 | +2.8% |
| Profit (loss) for the period before taxes | 9903 | €52,919 | €180,812 | +€127,893 | +242% |
| Transfer from deferred taxes | 780 | €809 | €809 | = | 0.0% |
| Income taxes | 67/77 | €4,884 | €41,197 | +€36,312 | +743% |
| Profit (loss) for the period | 9904 | €48,844 | €140,424 | +€91,580 | +187% |
| Transfer to tax-exempt reserves | 689 | - | €84,200 | +€84,200 | |
| Profit (loss) for the period to be appropriated | 9905 | €48,844 | €56,224 | +€7,380 | +15.1% |
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 19 October 2026 via checked.be.