ELUCE: 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.
ELUCE
Largest movements
- Receivables within one year +€18,856
up €18,856 (+246%), from €7,676 to €26,532
- Tax, wage and social debts +€16,886
up €16,886 (+281%), from €6,009 to €22,895
of which Taxes: +€8,548
- Gross operating margin -€117,482
down €117,482 (-84.6%), from €138,888 to €21,406
- Taxes -€26,574
down €26,574 (-90.6%), from €29,337 to €2,763
- Other operating charges -€15,893
down €15,893 (-88.8%), from €17,899 to €2,006
- Staff costs -€3,413
down €3,413 (-18.3%), from €18,627 to €15,214
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 | €404,399 | €425,507 | +€21,108 | +5.2% |
| Fixed assets | 21/28 | €1,535 | €1,726 | +€191 | +12.5% |
| Tangible fixed assets | 22/27 | €1,535 | €1,598 | +€63 | +4.1% |
| Plant, machinery and equipment | 23 | €165 | €0 | -€165 | -100% |
| Furniture and vehicles | 24 | €1,370 | €1,598 | +€227 | +16.6% |
| Financial fixed assets | 28 | - | €129 | +€129 | |
| Current assets | 29/58 | €402,864 | €423,781 | +€20,917 | +5.2% |
| Amounts receivable within one year | 40/41 | €7,676 | €26,532 | +€18,856 | +246% |
| Trade receivables | 40 | €7,676 | €26,532 | +€18,856 | +246% |
| Cash at bank and in hand | 54/58 | €393,172 | €394,975 | +€1,803 | +0.5% |
| Deferred charges and accrued income | 490/1 | €2,016 | €2,274 | +€258 | +12.8% |
| Total equity and liabilities | 10/49 | €404,399 | €425,507 | +€21,108 | +5.2% |
| Equity | 10/15 | €393,519 | €397,456 | +€3,937 | +1.0% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €373,059 | €376,996 | +€3,937 | +1.1% |
| Distributable reserves | 133 | €373,059 | €376,996 | +€3,937 | +1.1% |
| Amounts payable | 17/49 | €10,880 | €28,051 | +€17,171 | +158% |
| Amounts payable within one year | 42/48 | €8,902 | €28,051 | +€19,149 | +215% |
| Financial debts | 43 | - | €919 | +€919 | |
| Credit institutions | 430/8 | - | €919 | +€919 | |
| Trade debts | 44 | €1,867 | €1,755 | -€112 | -6.0% |
| Suppliers | 440/4 | €1,867 | €1,755 | -€112 | -6.0% |
| Taxes, remuneration and social security | 45 | €6,009 | €22,895 | +€16,886 | +281% |
| Taxes | 450/3 | €6,009 | €14,557 | +€8,548 | +142% |
| Remuneration and social security | 454/9 | - | €8,338 | +€8,338 | |
| Other amounts payable | 47/48 | €1,026 | €2,481 | +€1,455 | +142% |
| Accrued charges and deferred income | 492/3 | €1,978 | €0 | -€1,978 | -100% |
| Remuneration, social security and pensions | 62 | €18,627 | €15,214 | -€3,413 | -18.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,237 | €540 | -€697 | -56.4% |
| Other operating charges | 640/8 | €17,899 | €2,006 | -€15,893 | -88.8% |
| Gross operating margin | 9900 | €138,888 | €21,406 | -€117,482 | -84.6% |
| Operating profit (loss) | 9901 | €101,125 | €3,646 | -€97,479 | -96.4% |
| Financial income | 75/76B | €3,332 | €3,159 | -€173 | -5.2% |
| Recurring financial income | 75 | €3,332 | €3,159 | -€173 | -5.2% |
| Financial charges | 65/66B | €107 | €105 | -€3 | -2.3% |
| Recurring financial charges | 65 | €107 | €105 | -€3 | -2.3% |
| Profit (loss) for the period before taxes | 9903 | €104,350 | €6,701 | -€97,649 | -93.6% |
| Income taxes | 67/77 | €29,337 | €2,763 | -€26,574 | -90.6% |
| Profit (loss) for the period | 9904 | €75,012 | €3,937 | -€71,075 | -94.8% |
| Profit (loss) for the period to be appropriated | 9905 | €75,012 | €3,937 | -€71,075 | -94.8% |
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 31 October 2026 via checked.be.