Elveba: 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.
Elveba
Largest movements
- Tangible fixed assets +€613,476
up €613,476 (+155.2%), from €395,323 to €1.0m
- Cash -€283,563
down €283,563 (-66.8%), from €424,539 to €140,977
mainly Investment in fixed assets (net) (-€680,726) and Receivables within one year (-€3,232)
- Deferred charges and accrued income -€23,417
down €23,417 (-100.0%), from €23,417 to €0
- Other debts +€200,000
up €200,000 (+85.9%), from €232,742 to €432,742
- Reserves +€62,680
up €62,680 (+13.9%), from €452,270 to €514,950
of which Distributable reserves: +€62,680
- Trade debts +€39,402
up €39,402 (+302.4%), from €13,028 to €52,430
- Depreciation +€29,305
up €29,305 (+77.2%), from €37,945 to €67,250
- Gross operating margin +€17,885
up €17,885 (+12.3%), from €145,460 to €163,345
- Financial income -€11,443
down €11,443 (-100.0%), from €11,443 to €0
- Taxes -€5,730
down €5,730 (-19.6%), from €29,172 to €23,442
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 | €847,540 | €1,157,268 | +€309,729 | +36.5% |
| Fixed assets | 21/28 | €395,323 | €1,008,799 | +€613,476 | +155.2% |
| Tangible fixed assets | 22/27 | €395,323 | €1,008,799 | +€613,476 | +155.2% |
| Land and buildings | 22 | €395,323 | €1,008,799 | +€613,476 | +155.2% |
| Current assets | 29/58 | €452,217 | €148,470 | -€303,747 | -67.2% |
| Amounts receivable within one year | 40/41 | €4,261 | €7,493 | +€3,232 | +75.9% |
| Trade receivables | 40 | - | €5,935 | +€5,935 | |
| Other amounts receivable | 41 | €4,261 | €1,558 | -€2,703 | -63.4% |
| Cash at bank and in hand | 54/58 | €424,539 | €140,977 | -€283,563 | -66.8% |
| Deferred charges and accrued income | 490/1 | €23,417 | €0 | -€23,417 | -100.0% |
| Total equity and liabilities | 10/49 | €847,540 | €1,157,268 | +€309,729 | +36.5% |
| Equity | 10/15 | €601,770 | €672,097 | +€70,327 | +11.7% |
| Contributions | 10/11 | €149,500 | €149,500 | = | 0.0% |
| Capital | 10 | €149,500 | €149,500 | = | 0.0% |
| Issued capital | 100 | €149,500 | €149,500 | = | 0.0% |
| Reserves | 13 | €452,270 | €514,950 | +€62,680 | +13.9% |
| Non-distributable reserves | 130/1 | €14,950 | €14,950 | = | 0.0% |
| Legal reserve | 130 | €14,950 | €14,950 | = | 0.0% |
| Distributable reserves | 133 | €437,320 | €500,000 | +€62,680 | +14.3% |
| Profit (loss) carried forward | 14 | €0 | €7,647 | +€7,647 | |
| Amounts payable | 17/49 | €245,770 | €485,172 | +€239,402 | +97.4% |
| Amounts payable within one year | 42/48 | €245,770 | €485,172 | +€239,402 | +97.4% |
| Trade debts | 44 | €13,028 | €52,430 | +€39,402 | +302.4% |
| Suppliers | 440/4 | €13,028 | €52,430 | +€39,402 | +302.4% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €232,742 | €432,742 | +€200,000 | +85.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,945 | €67,250 | +€29,305 | +77.2% |
| Other operating charges | 640/8 | €2,227 | €2,295 | +€67 | +3.0% |
| Gross operating margin | 9900 | €145,460 | €163,345 | +€17,885 | +12.3% |
| Operating profit (loss) | 9901 | €105,288 | €93,800 | -€11,488 | -10.9% |
| Financial income | 75/76B | €11,443 | €0 | -€11,443 | -100.0% |
| Recurring financial income | 75 | €11,443 | €0 | -€11,443 | -100.0% |
| Financial charges | 65/66B | €44 | €31 | -€12 | -28.2% |
| Recurring financial charges | 65 | €44 | €31 | -€12 | -28.2% |
| Profit (loss) for the period before taxes | 9903 | €116,687 | €93,769 | -€22,918 | -19.6% |
| Income taxes | 67/77 | €29,172 | €23,442 | -€5,730 | -19.6% |
| Profit (loss) for the period | 9904 | €87,516 | €70,327 | -€17,189 | -19.6% |
| Profit (loss) for the period to be appropriated | 9905 | €87,516 | €70,327 | -€17,189 | -19.6% |
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 28 September 2026 via checked.be.