ELUXO: 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.
ELUXO
Largest movements
- Receivables within one year -€215,900
down €215,900 (-41.5%), from €520,486 to €304,586
of which Trade receivables: -€229,731
- Cash +€126,627
up €126,627 (+127%), from €99,797 to €226,424
mainly Receivables within one year (+€215,900) and Depreciation (+€86,486)
- Tangible fixed assets -€58,986
down €58,986 (-25.8%), from €228,736 to €169,750
- Stocks and contracts -€44,124
down €44,124 (-24.0%), from €183,767 to €139,643
- Formation expenses -€25,957
down €25,957 (-26.4%), from €98,377 to €72,420
- Short-term financial debts -€115,000
down €115,000 (-95.8%), from €120,000 to €5,000
- Debts after one year -€57,828
down €57,828 (-30.7%), from €188,264 to €130,436
- Profit (loss) carried forward -€46,168
down €46,168 (-24.0%), from -€192,115 to -€238,283
- Accrued charges and deferred income +€13,038
up €13,038 (+181%), from €7,202 to €20,240
- Trade debts +€12,092
up €12,092 (+4.4%), from €276,822 to €288,914
- Gross operating margin +€300,997
up €300,997 (+91.2%), from €329,933 to €630,930
- Staff costs +€106,152
up €106,152 (+22.9%), from €464,107 to €570,259
- Depreciation +€16,064
up €16,064 (+22.8%), from €70,422 to €86,486
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 | €1,174,498 | €957,346 | -€217,152 | -18.5% |
| Formation expenses | 20 | €98,377 | €72,420 | -€25,957 | -26.4% |
| Fixed assets | 21/28 | €233,125 | €174,139 | -€58,986 | -25.3% |
| Tangible fixed assets | 22/27 | €228,736 | €169,750 | -€58,986 | -25.8% |
| Plant, machinery and equipment | 23 | €56,605 | €48,061 | -€8,544 | -15.1% |
| Furniture and vehicles | 24 | €75,087 | €47,019 | -€28,068 | -37.4% |
| Leasing and similar rights | 25 | €88,027 | €69,115 | -€18,912 | -21.5% |
| Other tangible fixed assets | 26 | €9,016 | €5,554 | -€3,462 | -38.4% |
| Financial fixed assets | 28 | €4,390 | €4,390 | = | 0.0% |
| Current assets | 29/58 | €842,996 | €710,787 | -€132,209 | -15.7% |
| Stocks and contracts in progress | 3 | €183,767 | €139,643 | -€44,124 | -24.0% |
| Stocks | 30/36 | €183,767 | €139,643 | -€44,124 | -24.0% |
| Amounts receivable within one year | 40/41 | €520,486 | €304,586 | -€215,900 | -41.5% |
| Trade receivables | 40 | €480,729 | €250,998 | -€229,731 | -47.8% |
| Other amounts receivable | 41 | €39,757 | €53,588 | +€13,831 | +34.8% |
| Cash at bank and in hand | 54/58 | €99,797 | €226,424 | +€126,627 | +127% |
| Deferred charges and accrued income | 490/1 | €38,946 | €40,134 | +€1,188 | +3.1% |
| Total equity and liabilities | 10/49 | €1,174,498 | €957,346 | -€217,152 | -18.5% |
| Equity | 10/15 | €195,126 | €148,958 | -€46,168 | -23.7% |
| Contributions | 10/11 | €32,761 | €32,761 | = | 0.0% |
| Reserves | 13 | €354,479 | €354,479 | = | 0.0% |
| Distributable reserves | 133 | €354,479 | €354,479 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€192,115 | -€238,283 | -€46,168 | -24.0% |
| Amounts payable | 17/49 | €979,372 | €808,388 | -€170,984 | -17.5% |
| Amounts payable after more than one year | 17 | €188,264 | €130,436 | -€57,828 | -30.7% |
| Financial debts | 170/4 | €188,264 | €130,436 | -€57,828 | -30.7% |
| Amounts payable within one year | 42/48 | €783,907 | €657,712 | -€126,194 | -16.1% |
| Current portion of amounts payable after more than one year | 42 | €71,349 | €65,233 | -€6,117 | -8.6% |
| Financial debts | 43 | €120,000 | €5,000 | -€115,000 | -95.8% |
| Other loans | 439 | €120,000 | €5,000 | -€115,000 | -95.8% |
| Trade debts | 44 | €276,822 | €288,914 | +€12,092 | +4.4% |
| Suppliers | 440/4 | €276,822 | €288,914 | +€12,092 | +4.4% |
| Advances received on contracts in progress | 46 | €220,653 | €210,947 | -€9,706 | -4.4% |
| Taxes, remuneration and social security | 45 | €76,465 | €67,761 | -€8,703 | -11.4% |
| Taxes | 450/3 | €14,815 | €3,798 | -€11,018 | -74.4% |
| Remuneration and social security | 454/9 | €61,649 | €63,964 | +€2,314 | +3.8% |
| Other amounts payable | 47/48 | €18,618 | €19,857 | +€1,239 | +6.7% |
| Accrued charges and deferred income | 492/3 | €7,202 | €20,240 | +€13,038 | +181% |
| Non-recurring operating income | 76A | €10,482 | €0 | -€10,482 | -100% |
| Remuneration, social security and pensions | 62 | €464,107 | €570,259 | +€106,152 | +22.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,422 | €86,486 | +€16,064 | +22.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€466 | €421 | +€887 | |
| Other operating charges | 640/8 | €7,736 | €3,855 | -€3,881 | -50.2% |
| Operating charges capitalised as restructuring costs | 649 | -€32,847 | €0 | +€32,847 | |
| Gross operating margin | 9900 | €329,933 | €630,930 | +€300,997 | +91.2% |
| Operating profit (loss) | 9901 | -€179,019 | -€30,091 | +€148,928 | +83.2% |
| Financial income | 75/76B | €2,330 | €397 | -€1,933 | -82.9% |
| Recurring financial income | 75 | €2,330 | €397 | -€1,933 | -82.9% |
| Financial charges | 65/66B | €15,078 | €15,754 | +€676 | +4.5% |
| Recurring financial charges | 65 | €15,078 | €15,627 | +€549 | +3.6% |
| Non-recurring financial charges | 66B | - | €127 | +€127 | |
| Profit (loss) for the period before taxes | 9903 | -€191,767 | -€45,448 | +€146,319 | +76.3% |
| Income taxes | 67/77 | €581 | €720 | +€139 | +23.9% |
| Profit (loss) for the period | 9904 | -€192,348 | -€46,168 | +€146,180 | +76.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€192,348 | -€46,168 | +€146,180 | +76.0% |
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 22 October 2026 via checked.be.