ELVA: 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.
ELVA
Largest movements
- Receivables within one year -€62,871
down €62,871 (-65.2%), from €96,490 to €33,618
of which Other amounts receivable: -€77,391
- Cash -€51,808
down €51,808 (-33.6%), from €154,264 to €102,456
mainly Contributions, distributions and other (-€316,247) and Investment in fixed assets (net) (-€61,316)
- Tangible fixed assets +€48,259
up €48,259 (+321.4%), from €15,015 to €63,273
of which Furniture and vehicles: +€50,239
- Stocks and contracts +€33,975
up €33,975 (+33.1%), from €102,500 to €136,475
- Profit (loss) carried forward -€166,289
down €166,289 (-52.6%), from €316,247 to €149,958
- Other debts +€151,597
new in 2025: €151,597
- Tax, wage and social debts -€21,306
down €21,306 (-73.4%), from €29,027 to €7,721
- Trade debts +€3,917
up €3,917 (+62.6%), from €6,257 to €10,174
- Depreciation +€11,672
up €11,672 (+842.6%), from €1,385 to €13,057
- Taxes -€6,857
down €6,857 (-13.5%), from €50,940 to €44,083
- Gross operating margin -€4,498
down €4,498 (-2.1%), from €214,041 to €209,543
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 | €370,131 | €338,056 | -€32,075 | -8.7% |
| Fixed assets | 21/28 | €15,015 | €63,273 | +€48,259 | +321.4% |
| Tangible fixed assets | 22/27 | €15,015 | €63,273 | +€48,259 | +321.4% |
| Plant, machinery and equipment | 23 | €3,119 | €2,439 | -€680 | -21.8% |
| Furniture and vehicles | 24 | - | €50,239 | +€50,239 | |
| Other tangible fixed assets | 26 | €11,895 | €10,595 | -€1,300 | -10.9% |
| Current assets | 29/58 | €355,116 | €274,783 | -€80,333 | -22.6% |
| Stocks and contracts in progress | 3 | €102,500 | €136,475 | +€33,975 | +33.1% |
| Stocks | 30/36 | €102,500 | €136,475 | +€33,975 | +33.1% |
| Amounts receivable within one year | 40/41 | €96,490 | €33,618 | -€62,871 | -65.2% |
| Trade receivables | 40 | €7,260 | €21,780 | +€14,520 | +200.0% |
| Other amounts receivable | 41 | €89,230 | €11,838 | -€77,391 | -86.7% |
| Cash at bank and in hand | 54/58 | €154,264 | €102,456 | -€51,808 | -33.6% |
| Deferred charges and accrued income | 490/1 | €1,863 | €2,233 | +€371 | +19.9% |
| Total equity and liabilities | 10/49 | €370,131 | €338,056 | -€32,075 | -8.7% |
| Equity | 10/15 | €334,847 | €168,558 | -€166,289 | -49.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €316,247 | €149,958 | -€166,289 | -52.6% |
| Amounts payable | 17/49 | €35,284 | €169,498 | +€134,214 | +380.4% |
| Amounts payable within one year | 42/48 | €35,284 | €169,492 | +€134,208 | +380.4% |
| Trade debts | 44 | €6,257 | €10,174 | +€3,917 | +62.6% |
| Suppliers | 440/4 | €6,257 | €10,174 | +€3,917 | +62.6% |
| Taxes, remuneration and social security | 45 | €29,027 | €7,721 | -€21,306 | -73.4% |
| Taxes | 450/3 | €29,027 | €7,721 | -€21,306 | -73.4% |
| Other amounts payable | 47/48 | - | €151,597 | +€151,597 | |
| Accrued charges and deferred income | 492/3 | - | €6 | +€6 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,385 | €13,057 | +€11,672 | +842.6% |
| Other operating charges | 640/8 | €1,267 | €1,096 | -€171 | -13.5% |
| Gross operating margin | 9900 | €214,041 | €209,543 | -€4,498 | -2.1% |
| Operating profit (loss) | 9901 | €211,388 | €195,390 | -€15,999 | -7.6% |
| Financial income | 75/76B | €1,935 | €904 | -€1,031 | -53.3% |
| Recurring financial income | 75 | €1,935 | €904 | -€1,031 | -53.3% |
| Financial charges | 65/66B | €3,036 | €2,253 | -€783 | -25.8% |
| Recurring financial charges | 65 | €3,036 | €2,253 | -€783 | -25.8% |
| Profit (loss) for the period before taxes | 9903 | €210,287 | €194,041 | -€16,246 | -7.7% |
| Income taxes | 67/77 | €50,940 | €44,083 | -€6,857 | -13.5% |
| Profit (loss) for the period | 9904 | €159,348 | €149,958 | -€9,389 | -5.9% |
| Profit (loss) for the period to be appropriated | 9905 | €159,348 | €149,958 | -€9,389 | -5.9% |
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 7 October 2026 via checked.be.