ELTOM: 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.
What changed
ELTOM
NACE 68.110, Buying and selling of own real estate
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€122,809
2024 · -€88,965+€211,774
Equity
€2.6m
2024 · €2.6m-€82,191
Cash
€134,867
2024 · €121,995+€12,872
Balance sheet total
€6.3m
2024 · €7.1m-€805,198
Largest movements
Assets
- Tangible fixed assets -€506,784
down €506,784 (-13.9%), from €3.7m to €3.1m
- Receivables within one year -€277,113
down €277,113 (-14.2%), from €2.0m to €1.7m
of which Other amounts receivable: -€273,291
Equity and liabilities
- Current portion of long-term debt -€900,000
down €900,000 (-99.7%), from €902,500 to €2,500
- Other debts +€203,206
up €203,206 (+8.1%), from €2.5m to €2.7m
- Reserves -€109,843
down €109,843 (-48.8%), from €225,074 to €115,230
of which Tax-exempt reserves: -€122,093
Income statement
- Gross operating margin +€149,521
up €149,521 (+207.1%), from €72,203 to €221,725
- Depreciation -€21,672
down €21,672 (-13.0%), from €167,036 to €145,364
- Financial income +€12,230
up €12,230 (+60.9%), from €20,083 to €32,312
- Financial charges -€8,115
down €8,115 (-50.3%), from €16,144 to €8,030
- Taxes +€3,111
up €3,111, from €0 to €3,111
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.
Result 2024
-€88,965
Gross operating margin
+€149,521
Depreciation
+€21,672
Other operating charges
-€2,892
Financial income
+€12,230
Financial charges
+€8,115
Taxes
-€3,111
Deferred taxes and other
+€26,240
Result 2025
€122,809
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.
From operations
+€756,452
Investment
+€361,420
Financing
-€1.1m
Cash 2024
€121,995
From operations (derived)
+€756,452
Net result for the year
+€122,809
Depreciation
+€145,364
Receivables after one year
+€42,000
Receivables within one year
+€277,113
Deferred charges and accrued income
-€7,826
Provisions
-€40,698
Trade debts
+€12,900
Tax, wage and social debts
+€4,152
Other debts
+€203,206
Accrued charges and deferred income
-€2,567
Investment (derived)
+€361,420
Investment in fixed assets (net)
+€361,420
Financing
-€1.1m
Current portion of long-term debt
-€900,000
Contributions, distributions and other
-€205,000
Cash 2025
€134,867
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,123,637 | €6,318,439 | -€805,198 | -11.3% |
| Fixed assets | 21/28 | €3,701,779 | €3,194,995 | -€506,784 | -13.7% |
| Tangible fixed assets | 22/27 | €3,651,779 | €3,144,995 | -€506,784 | -13.9% |
| Land and buildings | 22 | €3,651,779 | €3,144,995 | -€506,784 | -13.9% |
| Financial fixed assets | 28 | €50,000 | €50,000 | = | 0.0% |
| Current assets | 29/58 | €3,421,859 | €3,123,444 | -€298,414 | -8.7% |
| Amounts receivable after more than one year | 29 | €1,000,000 | €958,000 | -€42,000 | -4.2% |
| Other amounts receivable | 291 | €1,000,000 | €958,000 | -€42,000 | -4.2% |
| Stocks and contracts in progress | 3 | €337,385 | €337,385 | = | 0.0% |
| Stocks | 30/36 | €337,385 | €337,385 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,954,233 | €1,677,120 | -€277,113 | -14.2% |
| Trade receivables | 40 | €5,183 | €1,361 | -€3,822 | -73.7% |
| Other amounts receivable | 41 | €1,949,050 | €1,675,759 | -€273,291 | -14.0% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €121,995 | €134,867 | +€12,872 | +10.6% |
| Deferred charges and accrued income | 490/1 | €8,246 | €16,072 | +€7,826 | +94.9% |
| Total equity and liabilities | 10/49 | €7,123,637 | €6,318,439 | -€805,198 | -11.3% |
| Equity | 10/15 | €2,638,598 | €2,556,407 | -€82,191 | -3.1% |
| Contributions | 10/11 | €2,374,000 | €2,374,000 | = | 0.0% |
| Capital | 10 | €2,374,000 | €2,374,000 | = | 0.0% |
| Issued capital | 100 | €2,374,000 | €2,374,000 | = | 0.0% |
| Reserves | 13 | €225,074 | €115,230 | -€109,843 | -48.8% |
| Non-distributable reserves | 130/1 | €10,000 | €22,250 | +€12,250 | +122.5% |
| Legal reserve | 130 | €10,000 | €22,250 | +€12,250 | +122.5% |
| Tax-exempt reserves | 132 | €215,074 | €92,980 | -€122,093 | -56.8% |
| Profit (loss) carried forward | 14 | €39,525 | €67,177 | +€27,652 | +70.0% |
| Provisions and deferred taxes | 16 | €71,668 | €30,970 | -€40,698 | -56.8% |
| Deferred taxes | 168 | €71,668 | €30,970 | -€40,698 | -56.8% |
| Amounts payable | 17/49 | €4,413,372 | €3,731,063 | -€682,309 | -15.5% |
| Amounts payable after more than one year | 17 | €1,000,000 | €1,000,000 | = | 0.0% |
| Financial debts | 170/4 | €1,000,000 | €1,000,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €3,409,575 | €2,729,833 | -€679,743 | -19.9% |
| Current portion of amounts payable after more than one year | 42 | €902,500 | €2,500 | -€900,000 | -99.7% |
| Trade debts | 44 | €2,389 | €15,288 | +€12,900 | +540.0% |
| Suppliers | 440/4 | €2,389 | €15,288 | +€12,900 | +540.0% |
| Taxes, remuneration and social security | 45 | €892 | €5,044 | +€4,152 | +465.3% |
| Taxes | 450/3 | €892 | €5,044 | +€4,152 | +465.3% |
| Other amounts payable | 47/48 | €2,503,794 | €2,707,000 | +€203,206 | +8.1% |
| Accrued charges and deferred income | 492/3 | €3,797 | €1,230 | -€2,567 | -67.6% |
| Non-recurring operating income | 76A | - | €117,388 | +€117,388 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €167,036 | €145,364 | -€21,672 | -13.0% |
| Other operating charges | 640/8 | €12,529 | €15,422 | +€2,892 | +23.1% |
| Gross operating margin | 9900 | €72,203 | €221,725 | +€149,521 | +207.1% |
| Operating profit (loss) | 9901 | -€107,362 | €60,939 | +€168,301 | |
| Financial income | 75/76B | €20,083 | €32,312 | +€12,230 | +60.9% |
| Recurring financial income | 75 | €20,083 | €32,312 | +€12,230 | +60.9% |
| Financial charges | 65/66B | €16,144 | €8,030 | -€8,115 | -50.3% |
| Recurring financial charges | 65 | €16,144 | €8,030 | -€8,115 | -50.3% |
| Profit (loss) for the period before taxes | 9903 | -€103,423 | €85,222 | +€188,645 | |
| Transfer from deferred taxes | 780 | €14,458 | €40,698 | +€26,240 | +181.5% |
| Income taxes | 67/77 | €0 | €3,111 | +€3,111 | |
| Profit (loss) for the period | 9904 | -€88,965 | €122,809 | +€211,774 | |
| Transfer from tax-exempt reserves | 789 | €43,374 | €122,093 | +€78,719 | +181.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€45,591 | €244,902 | +€290,493 |
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 2 October 2026 via checked.be.