ELV: 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.
ELV
Largest movements
- Tangible fixed assets -€41,243
down €41,243 (-7.2%), from €576,185 to €534,942
of which Plant, machinery and equipment: -€26,282
- Receivables within one year +€15,201
up €15,201 (+18.9%), from €80,230 to €95,431
of which Trade receivables: +€21,651
- Debts after one year -€101,941
down €101,941 (-21.2%), from €481,341 to €379,400
- Profit (loss) carried forward +€51,528
up €51,528 (+22.5%), from €229,512 to €281,040
- Trade debts +€28,509
up €28,509 (+109.3%), from €26,074 to €54,584
- Staff costs -€44,458
down €44,458 (-59.1%), from €75,270 to €30,813
- Gross operating margin +€28,832
up €28,832 (+16.5%), from €174,968 to €203,800
- Taxes +€15,129
up €15,129, from €0 to €15,129
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,267,833 | €1,258,788 | -€9,045 | -0.7% |
| Fixed assets | 21/28 | €576,185 | €534,942 | -€41,243 | -7.2% |
| Tangible fixed assets | 22/27 | €576,185 | €534,942 | -€41,243 | -7.2% |
| Land and buildings | 22 | €363,333 | €342,931 | -€20,402 | -5.6% |
| Plant, machinery and equipment | 23 | €154,281 | €127,999 | -€26,282 | -17.0% |
| Furniture and vehicles | 24 | €58,571 | €64,011 | +€5,441 | +9.3% |
| Current assets | 29/58 | €691,648 | €723,846 | +€32,198 | +4.7% |
| Stocks and contracts in progress | 3 | €551,387 | €563,990 | +€12,602 | +2.3% |
| Stocks | 30/36 | €551,387 | €563,990 | +€12,602 | +2.3% |
| Amounts receivable within one year | 40/41 | €80,230 | €95,431 | +€15,201 | +18.9% |
| Trade receivables | 40 | €53,587 | €75,239 | +€21,651 | +40.4% |
| Other amounts receivable | 41 | €26,643 | €20,192 | -€6,451 | -24.2% |
| Cash at bank and in hand | 54/58 | €58,185 | €59,449 | +€1,264 | +2.2% |
| Deferred charges and accrued income | 490/1 | €1,845 | €4,977 | +€3,132 | +169.7% |
| Total equity and liabilities | 10/49 | €1,267,833 | €1,258,788 | -€9,045 | -0.7% |
| Equity | 10/15 | €306,104 | €357,632 | +€51,528 | +16.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €57,992 | €57,992 | = | 0.0% |
| Distributable reserves | 133 | €57,992 | €57,992 | = | 0.0% |
| Profit (loss) carried forward | 14 | €229,512 | €281,040 | +€51,528 | +22.5% |
| Amounts payable | 17/49 | €961,728 | €901,156 | -€60,573 | -6.3% |
| Amounts payable after more than one year | 17 | €481,341 | €379,400 | -€101,941 | -21.2% |
| Financial debts | 170/4 | €481,341 | €379,400 | -€101,941 | -21.2% |
| Amounts payable within one year | 42/48 | €459,103 | €500,552 | +€41,449 | +9.0% |
| Current portion of amounts payable after more than one year | 42 | €114,851 | €121,265 | +€6,414 | +5.6% |
| Trade debts | 44 | €26,074 | €54,584 | +€28,509 | +109.3% |
| Suppliers | 440/4 | €26,074 | €54,584 | +€28,509 | +109.3% |
| Taxes, remuneration and social security | 45 | €2,951 | €3,688 | +€737 | +25.0% |
| Taxes | 450/3 | €0 | €126 | +€126 | |
| Remuneration and social security | 454/9 | €2,951 | €3,562 | +€610 | +20.7% |
| Other amounts payable | 47/48 | €315,227 | €321,015 | +€5,788 | +1.8% |
| Accrued charges and deferred income | 492/3 | €21,284 | €21,204 | -€80 | -0.4% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €75,270 | €30,813 | -€44,458 | -59.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,269 | €69,861 | +€591 | +0.9% |
| Other operating charges | 640/8 | €4,401 | €4,378 | -€22 | -0.5% |
| Gross operating margin | 9900 | €174,968 | €203,800 | +€28,832 | +16.5% |
| Operating profit (loss) | 9901 | €26,028 | €98,749 | +€72,721 | +279.4% |
| Financial income | 75/76B | €34 | €803 | +€769 | +2238.9% |
| Recurring financial income | 75 | €34 | €803 | +€769 | +2238.9% |
| Financial charges | 65/66B | €33,891 | €32,894 | -€997 | -2.9% |
| Recurring financial charges | 65 | €33,891 | €32,894 | -€997 | -2.9% |
| Profit (loss) for the period before taxes | 9903 | -€7,829 | €66,657 | +€74,487 | |
| Income taxes | 67/77 | €0 | €15,129 | +€15,129 | |
| Profit (loss) for the period | 9904 | -€7,829 | €51,528 | +€59,357 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,829 | €51,528 | +€59,357 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.