ELVAS: 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.
ELVAS
Largest movements
- Cash -€10,686
down €10,686 (-6.1%), from €175,215 to €164,529
mainly Contributions, distributions and other (-€56,500) and Other debts (-€9,392)
- Receivables within one year +€6,047
up €6,047 (+15.1%), from €39,927 to €45,974
of which Trade receivables: +€13,654
- Stocks and contracts -€2,971
no longer reported in 2025 (was €2,971)
- Other debts -€9,392
down €9,392 (-4.7%), from €198,848 to €189,456
- Gross operating margin -€24,086
down €24,086 (-23.3%), from €103,228 to €79,142
- Taxes -€6,044
down €6,044 (-24.0%), from €25,177 to €19,134
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 | €220,223 | €210,792 | -€9,431 | -4.3% |
| Fixed assets | 21/28 | €1,710 | €67 | -€1,643 | -96.1% |
| Tangible fixed assets | 22/27 | €1,710 | €67 | -€1,643 | -96.1% |
| Plant, machinery and equipment | 23 | €763 | - | -€763 | |
| Furniture and vehicles | 24 | €947 | €67 | -€880 | -93.0% |
| Current assets | 29/58 | €218,514 | €210,725 | -€7,788 | -3.6% |
| Stocks and contracts in progress | 3 | €2,971 | - | -€2,971 | |
| Stocks | 30/36 | €2,971 | - | -€2,971 | |
| Amounts receivable within one year | 40/41 | €39,927 | €45,974 | +€6,047 | +15.1% |
| Trade receivables | 40 | €28,631 | €42,285 | +€13,654 | +47.7% |
| Other amounts receivable | 41 | €11,296 | €3,689 | -€7,607 | -67.3% |
| Cash at bank and in hand | 54/58 | €175,215 | €164,529 | -€10,686 | -6.1% |
| Deferred charges and accrued income | 490/1 | €401 | €222 | -€178 | -44.5% |
| Total equity and liabilities | 10/49 | €220,223 | €210,792 | -€9,431 | -4.3% |
| Equity | 10/15 | €18,627 | €18,691 | +€64 | +0.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27 | €91 | +€64 | +235.1% |
| Amounts payable | 17/49 | €201,596 | €192,101 | -€9,495 | -4.7% |
| Amounts payable within one year | 42/48 | €201,596 | €192,101 | -€9,495 | -4.7% |
| Trade debts | 44 | €1,733 | €1,796 | +€63 | +3.6% |
| Suppliers | 440/4 | €1,733 | €1,796 | +€63 | +3.6% |
| Taxes, remuneration and social security | 45 | €1,015 | €850 | -€166 | -16.3% |
| Taxes | 450/3 | €1,015 | €850 | -€166 | -16.3% |
| Other amounts payable | 47/48 | €198,848 | €189,456 | -€9,392 | -4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,671 | €1,643 | -€28 | -1.7% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €103,228 | €79,142 | -€24,086 | -23.3% |
| Operating profit (loss) | 9901 | €101,169 | €77,099 | -€24,070 | -23.8% |
| Financial income | 75/76B | €0 | €4 | +€4 | +4344.4% |
| Recurring financial income | 75 | €0 | €4 | +€4 | +4344.4% |
| Financial charges | 65/66B | €1,392 | €1,406 | +€14 | +1.0% |
| Recurring financial charges | 65 | €1,392 | €1,406 | +€14 | +1.0% |
| Profit (loss) for the period before taxes | 9903 | €99,778 | €75,697 | -€24,081 | -24.1% |
| Income taxes | 67/77 | €25,177 | €19,134 | -€6,044 | -24.0% |
| Profit (loss) for the period | 9904 | €74,600 | €56,564 | -€18,037 | -24.2% |
| Profit (loss) for the period to be appropriated | 9905 | €74,600 | €56,564 | -€18,037 | -24.2% |
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 4 October 2026 via checked.be.