ELVAGO: 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.
ELVAGO
Largest movements
- Cash +€93,733
up €93,733 (+31.5%), from €297,314 to €391,047
mainly Net result for the year (+€59,021) and Other debts (+€56,932)
- Receivables within one year -€38,324
down €38,324 (-28.4%), from €135,048 to €96,725
of which Trade receivables: -€48,650
- Tangible fixed assets -€18,450
down €18,450 (-28.6%), from €64,512 to €46,062
of which Plant, machinery and equipment: -€17,322
- Other debts +€56,932
up €56,932 (+83.6%), from €68,072 to €125,004
- Trade debts -€11,666
down €11,666 (-59.3%), from €19,664 to €7,998
- Tax, wage and social debts -€7,677
down €7,677 (-27.2%), from €28,209 to €20,532
of which Remuneration and social security: -€4,839
- Staff costs +€17,644
up €17,644 (+25.1%), from €70,183 to €87,826
- Taxes -€9,550
down €9,550 (-39.2%), from €24,391 to €14,842
- Gross operating margin -€1,974
down €1,974 (-1.0%), from €189,217 to €187,243
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 | €502,554 | €540,143 | +€37,589 | +7.5% |
| Fixed assets | 21/28 | €64,512 | €46,062 | -€18,450 | -28.6% |
| Tangible fixed assets | 22/27 | €64,512 | €46,062 | -€18,450 | -28.6% |
| Land and buildings | 22 | €3,639 | €2,511 | -€1,128 | -31.0% |
| Plant, machinery and equipment | 23 | €60,874 | €43,551 | -€17,322 | -28.5% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €438,041 | €494,081 | +€56,040 | +12.8% |
| Stocks and contracts in progress | 3 | €5,679 | €6,309 | +€630 | +11.1% |
| Stocks | 30/36 | €5,679 | €6,309 | +€630 | +11.1% |
| Amounts receivable within one year | 40/41 | €135,048 | €96,725 | -€38,324 | -28.4% |
| Trade receivables | 40 | €134,997 | €86,347 | -€48,650 | -36.0% |
| Other amounts receivable | 41 | €51 | €10,378 | +€10,327 | +20153.2% |
| Cash at bank and in hand | 54/58 | €297,314 | €391,047 | +€93,733 | +31.5% |
| Total equity and liabilities | 10/49 | €502,554 | €540,143 | +€37,589 | +7.5% |
| Equity | 10/15 | €386,609 | €386,609 | = | 0.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €376,609 | €376,609 | = | 0.0% |
| Distributable reserves | 133 | €376,609 | €376,609 | = | 0.0% |
| Amounts payable | 17/49 | €115,945 | €153,534 | +€37,589 | +32.4% |
| Amounts payable within one year | 42/48 | €115,945 | €153,534 | +€37,589 | +32.4% |
| Trade debts | 44 | €19,664 | €7,998 | -€11,666 | -59.3% |
| Suppliers | 440/4 | €19,664 | €7,998 | -€11,666 | -59.3% |
| Taxes, remuneration and social security | 45 | €28,209 | €20,532 | -€7,677 | -27.2% |
| Taxes | 450/3 | €17,565 | €14,727 | -€2,838 | -16.2% |
| Remuneration and social security | 454/9 | €10,644 | €5,805 | -€4,839 | -45.5% |
| Other amounts payable | 47/48 | €68,072 | €125,004 | +€56,932 | +83.6% |
| Remuneration, social security and pensions | 62 | €70,183 | €87,826 | +€17,644 | +25.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,221 | €18,450 | -€1,771 | -8.8% |
| Other operating charges | 640/8 | €6,138 | €6,327 | +€189 | +3.1% |
| Gross operating margin | 9900 | €189,217 | €187,243 | -€1,974 | -1.0% |
| Operating profit (loss) | 9901 | €92,675 | €74,639 | -€18,036 | -19.5% |
| Financial income | 75/76B | €3,894 | €3,930 | +€37 | +0.9% |
| Recurring financial income | 75 | €3,894 | €3,930 | +€37 | +0.9% |
| Financial charges | 65/66B | €6,176 | €4,707 | -€1,469 | -23.8% |
| Recurring financial charges | 65 | €6,176 | €4,707 | -€1,469 | -23.8% |
| Profit (loss) for the period before taxes | 9903 | €90,392 | €73,862 | -€16,530 | -18.3% |
| Income taxes | 67/77 | €24,391 | €14,842 | -€9,550 | -39.2% |
| Profit (loss) for the period | 9904 | €66,001 | €59,021 | -€6,980 | -10.6% |
| Profit (loss) for the period to be appropriated | 9905 | €66,001 | €59,021 | -€6,980 | -10.6% |
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 11 October 2026 via checked.be.