ELVE: 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.
ELVE
Largest movements
- Tangible fixed assets +€10,941
new in 2025: €10,941
of which Furniture and vehicles: +€8,733
- Receivables within one year -€3,046
down €3,046 (-1.6%), from €193,472 to €190,426
of which Other amounts receivable: -€14,934
- Cash -€2,939
down €2,939 (-15.9%), from €18,498 to €15,559
mainly Investment in fixed assets (net) (-€12,360) and Other debts (-€9,005)
- Reserves +€21,028
up €21,028 (+21.6%), from €97,206 to €118,234
of which Distributable reserves: +€21,028
- Other debts -€9,005
down €9,005 (-41.0%), from €21,971 to €12,967
- Tax, wage and social debts -€5,325
down €5,325 (-8.7%), from €60,870 to €55,545
of which Taxes: -€5,325
- Gross operating margin +€20,703
up €20,703 (+107.1%), from €19,338 to €40,042
- Taxes +€9,067
up €9,067 (+234.0%), from €3,876 to €12,943
- Other operating charges -€2,410
down €2,410 (-36.0%), from €6,697 to €4,287
- Depreciation +€1,419
new in 2025: €1,419
- Financial charges -€401
down €401 (-52.3%), from €766 to €365
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 | €212,570 | €217,527 | +€4,956 | +2.3% |
| Fixed assets | 21/28 | €600 | €11,541 | +€10,941 | +1823.6% |
| Intangible fixed assets | 21 | €600 | €600 | = | 0.0% |
| Tangible fixed assets | 22/27 | - | €10,941 | +€10,941 | |
| Plant, machinery and equipment | 23 | - | €2,209 | +€2,209 | |
| Furniture and vehicles | 24 | - | €8,733 | +€8,733 | |
| Current assets | 29/58 | €211,970 | €205,985 | -€5,985 | -2.8% |
| Amounts receivable within one year | 40/41 | €193,472 | €190,426 | -€3,046 | -1.6% |
| Trade receivables | 40 | €172,156 | €184,043 | +€11,887 | +6.9% |
| Other amounts receivable | 41 | €21,317 | €6,383 | -€14,934 | -70.1% |
| Cash at bank and in hand | 54/58 | €18,498 | €15,559 | -€2,939 | -15.9% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €212,570 | €217,527 | +€4,956 | +2.3% |
| Equity | 10/15 | €116,206 | €137,234 | +€21,028 | +18.1% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €97,206 | €118,234 | +€21,028 | +21.6% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Distributable reserves | 133 | €95,306 | €116,334 | +€21,028 | +22.1% |
| Amounts payable | 17/49 | €96,364 | €80,292 | -€16,072 | -16.7% |
| Amounts payable within one year | 42/48 | €87,414 | €71,342 | -€16,072 | -18.4% |
| Trade debts | 44 | €4,573 | €2,830 | -€1,743 | -38.1% |
| Suppliers | 440/4 | €4,573 | €2,830 | -€1,743 | -38.1% |
| Taxes, remuneration and social security | 45 | €60,870 | €55,545 | -€5,325 | -8.7% |
| Taxes | 450/3 | €48,645 | €43,321 | -€5,325 | -10.9% |
| Remuneration and social security | 454/9 | €12,225 | €12,225 | = | 0.0% |
| Other amounts payable | 47/48 | €21,971 | €12,967 | -€9,005 | -41.0% |
| Accrued charges and deferred income | 492/3 | €8,950 | €8,950 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,419 | +€1,419 | |
| Other operating charges | 640/8 | €6,697 | €4,287 | -€2,410 | -36.0% |
| Gross operating margin | 9900 | €19,338 | €40,042 | +€20,703 | +107.1% |
| Operating profit (loss) | 9901 | €12,641 | €34,336 | +€21,695 | +171.6% |
| Financial income | 75/76B | €170 | €0 | -€170 | -100.0% |
| Recurring financial income | 75 | €170 | €0 | -€170 | -100.0% |
| Financial charges | 65/66B | €766 | €365 | -€401 | -52.3% |
| Recurring financial charges | 65 | €766 | €365 | -€401 | -52.3% |
| Profit (loss) for the period before taxes | 9903 | €12,045 | €33,971 | +€21,926 | +182.0% |
| Income taxes | 67/77 | €3,876 | €12,943 | +€9,067 | +234.0% |
| Profit (loss) for the period | 9904 | €8,170 | €21,028 | +€12,859 | +157.4% |
| Profit (loss) for the period to be appropriated | 9905 | €8,170 | €21,028 | +€12,859 | +157.4% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.