eLVe: 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.
eLVe
Largest movements
- Cash +€60,339
up €60,339 (+43.1%), from €139,941 to €200,280
mainly Net result for the year (+€56,348) and Depreciation (+€8,006)
- Tangible fixed assets -€6,395
down €6,395 (-28.5%), from €22,450 to €16,055
of which Other tangible fixed assets: -€6,602
- Reserves +€56,348
up €56,348 (+37.3%), from €151,081 to €207,429
- Debts after one year -€5,448
no longer reported in 2025 (was €5,448)
- Other debts +€3,655
up €3,655 (+83.3%), from €4,390 to €8,045
- Gross operating margin +€14,776
up €14,776 (+19.2%), from €76,822 to €91,598
- Staff costs -€9,384
down €9,384 (-98.1%), from €9,568 to €184
- Taxes +€8,463
up €8,463 (+44.9%), from €18,836 to €27,298
- Financial charges -€1,197
down €1,197 (-59.4%), from €2,015 to €818
of which Non-recurring financial charges: -€1,000
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 | €201,587 | €253,703 | +€52,116 | +25.9% |
| Fixed assets | 21/28 | €22,450 | €16,055 | -€6,395 | -28.5% |
| Tangible fixed assets | 22/27 | €22,450 | €16,055 | -€6,395 | -28.5% |
| Land and buildings | 22 | €12,900 | €12,750 | -€150 | -1.2% |
| Plant, machinery and equipment | 23 | €2,862 | €3,219 | +€357 | +12.5% |
| Other tangible fixed assets | 26 | €6,688 | €86 | -€6,602 | -98.7% |
| Current assets | 29/58 | €179,137 | €237,648 | +€58,511 | +32.7% |
| Amounts receivable within one year | 40/41 | €39,196 | €37,368 | -€1,828 | -4.7% |
| Trade receivables | 40 | €12,756 | €16,167 | +€3,411 | +26.7% |
| Other amounts receivable | 41 | €26,440 | €21,201 | -€5,239 | -19.8% |
| Cash at bank and in hand | 54/58 | €139,941 | €200,280 | +€60,339 | +43.1% |
| Total equity and liabilities | 10/49 | €201,587 | €253,703 | +€52,116 | +25.9% |
| Equity | 10/15 | €175,747 | €232,095 | +€56,348 | +32.1% |
| Contributions | 10/11 | €12,403 | €12,403 | = | 0.0% |
| Reserves | 13 | €151,081 | €207,429 | +€56,348 | +37.3% |
| Distributable reserves | 133 | €151,081 | €207,429 | +€56,348 | +37.3% |
| Profit (loss) carried forward | 14 | €12,263 | €12,263 | = | 0.0% |
| Amounts payable | 17/49 | €25,840 | €21,608 | -€4,232 | -16.4% |
| Amounts payable after more than one year | 17 | €5,448 | - | -€5,448 | |
| Financial debts | 170/4 | €5,448 | - | -€5,448 | |
| Amounts payable within one year | 42/48 | €20,392 | €21,608 | +€1,216 | +6.0% |
| Current portion of amounts payable after more than one year | 42 | €5,343 | €5,448 | +€105 | +2.0% |
| Trade debts | 44 | €2,248 | €626 | -€1,622 | -72.2% |
| Suppliers | 440/4 | €2,248 | €626 | -€1,622 | -72.2% |
| Taxes, remuneration and social security | 45 | €8,412 | €7,490 | -€922 | -11.0% |
| Taxes | 450/3 | €8,412 | €7,490 | -€922 | -11.0% |
| Other amounts payable | 47/48 | €4,390 | €8,045 | +€3,655 | +83.3% |
| Remuneration, social security and pensions | 62 | €9,568 | €184 | -€9,384 | -98.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,175 | €8,006 | -€169 | -2.1% |
| Other operating charges | 640/8 | €570 | €693 | +€123 | +21.6% |
| Gross operating margin | 9900 | €76,822 | €91,598 | +€14,776 | +19.2% |
| Operating profit (loss) | 9901 | €58,510 | €82,716 | +€24,206 | +41.4% |
| Financial income | 75/76B | €1,361 | €1,749 | +€387 | +28.5% |
| Recurring financial income | 75 | €1,361 | €1,749 | +€387 | +28.5% |
| Financial charges | 65/66B | €2,015 | €818 | -€1,197 | -59.4% |
| Recurring financial charges | 65 | €1,015 | €818 | -€197 | -19.4% |
| Non-recurring financial charges | 66B | €1,000 | - | -€1,000 | |
| Profit (loss) for the period before taxes | 9903 | €57,856 | €83,646 | +€25,790 | +44.6% |
| Income taxes | 67/77 | €18,836 | €27,298 | +€8,463 | +44.9% |
| Profit (loss) for the period | 9904 | €39,021 | €56,348 | +€17,327 | +44.4% |
| Profit (loss) for the period to be appropriated | 9905 | €39,021 | €56,348 | +€17,327 | +44.4% |
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 5 October 2026 via checked.be.