ELVEDE: 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.
ELVEDE
Largest movements
- Cash -€31,424
down €31,424 (-39.4%), from €79,798 to €48,374
mainly Contributions, distributions and other (-€148,682) and Trade debts (-€907)
- Receivables within one year -€5,915
down €5,915 (-24.7%), from €23,915 to €18,000
- Tangible fixed assets -€1,337
down €1,337 (-30.2%), from €4,430 to €3,093
- Reserves -€92,823
down €92,823 (-100.0%), from €92,823 to €0
- Other debts +€55,958
up €55,958 (+7950.4%), from €704 to €56,662
- Gross operating margin +€13,175
up €13,175 (+21.4%), from €61,423 to €74,598
- Taxes +€2,327
up €2,327 (+18.2%), from €12,775 to €15,102
- Financial income -€983
down €983 (-100.0%), from €983 to €0
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 | €108,952 | €70,721 | -€38,231 | -35.1% |
| Fixed assets | 21/28 | €4,430 | €3,516 | -€914 | -20.6% |
| Tangible fixed assets | 22/27 | €4,430 | €3,093 | -€1,337 | -30.2% |
| Furniture and vehicles | 24 | €4,430 | €3,093 | -€1,337 | -30.2% |
| Financial fixed assets | 28 | - | €424 | +€424 | |
| Current assets | 29/58 | €104,523 | €67,205 | -€37,317 | -35.7% |
| Amounts receivable within one year | 40/41 | €23,915 | €18,000 | -€5,915 | -24.7% |
| Trade receivables | 40 | €23,915 | €18,000 | -€5,915 | -24.7% |
| Cash at bank and in hand | 54/58 | €79,798 | €48,374 | -€31,424 | -39.4% |
| Deferred charges and accrued income | 490/1 | €810 | €832 | +€22 | +2.7% |
| Total equity and liabilities | 10/49 | €108,952 | €70,721 | -€38,231 | -35.1% |
| Equity | 10/15 | €93,823 | €1,000 | -€92,823 | -98.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €92,823 | €0 | -€92,823 | -100.0% |
| Distributable reserves | 133 | €92,823 | €0 | -€92,823 | -100.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €15,129 | €69,721 | +€54,592 | +360.8% |
| Amounts payable within one year | 42/48 | €14,899 | €69,721 | +€54,823 | +368.0% |
| Trade debts | 44 | €1,260 | €353 | -€907 | -72.0% |
| Suppliers | 440/4 | €1,260 | €353 | -€907 | -72.0% |
| Taxes, remuneration and social security | 45 | €12,935 | €12,706 | -€228 | -1.8% |
| Taxes | 450/3 | €9,865 | €12,706 | +€2,842 | +28.8% |
| Remuneration and social security | 454/9 | €3,070 | €0 | -€3,070 | -100.0% |
| Other amounts payable | 47/48 | €704 | €56,662 | +€55,958 | +7950.4% |
| Accrued charges and deferred income | 492/3 | €231 | €0 | -€231 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,337 | €1,337 | = | 0.0% |
| Other operating charges | 640/8 | €636 | €1,007 | +€371 | +58.3% |
| Gross operating margin | 9900 | €61,423 | €74,598 | +€13,175 | +21.4% |
| Operating profit (loss) | 9901 | €59,449 | €72,254 | +€12,804 | +21.5% |
| Financial income | 75/76B | €983 | €0 | -€983 | -100.0% |
| Recurring financial income | 75 | €983 | €0 | -€983 | -100.0% |
| Financial charges | 65/66B | €1,987 | €1,293 | -€694 | -34.9% |
| Recurring financial charges | 65 | €1,987 | €1,293 | -€694 | -34.9% |
| Profit (loss) for the period before taxes | 9903 | €58,445 | €70,961 | +€12,516 | +21.4% |
| Income taxes | 67/77 | €12,775 | €15,102 | +€2,327 | +18.2% |
| Profit (loss) for the period | 9904 | €45,670 | €55,859 | +€10,189 | +22.3% |
| Profit (loss) for the period to be appropriated | 9905 | €45,670 | €55,859 | +€10,189 | +22.3% |
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 10 October 2026 via checked.be.