ELVERDI: 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.
ELVERDI
Largest movements
- Current investments +€89,999
up €89,999 (+300%), from €30,000 to €119,999
- Cash -€54,489
down €54,489 (-63.0%), from €86,544 to €32,055
mainly Current investments (-€89,999) and Tax, wage and social debts (-€24,742)
- Tangible fixed assets +€5,814
up €5,814 (+14.0%), from €41,508 to €47,322
of which Furniture and vehicles: +€15,566
- Reserves +€68,071
up €68,071 (+56.9%), from €119,640 to €187,711
- Tax, wage and social debts -€24,742
down €24,742 (-46.6%), from €53,042 to €28,300
of which Taxes: -€22,704
- Gross operating margin -€75,688
down €75,688 (-41.6%), from €181,796 to €106,109
- Taxes -€23,239
down €23,239 (-45.5%), from €51,065 to €27,826
- Depreciation +€2,593
up €2,593 (+30.3%), from €8,570 to €11,163
- Financial charges -€2,011
down €2,011, from €1,011 to -€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.
Derived cash bridge
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 | €180,263 | €222,737 | +€42,474 | +23.6% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €41,508 | €47,322 | +€5,814 | +14.0% |
| Tangible fixed assets | 22/27 | €41,508 | €47,322 | +€5,814 | +14.0% |
| Land and buildings | 22 | €2,977 | €2,359 | -€618 | -20.8% |
| Plant, machinery and equipment | 23 | €38,531 | €29,397 | -€9,134 | -23.7% |
| Furniture and vehicles | 24 | - | €15,566 | +€15,566 | |
| Current assets | 29/58 | €138,755 | €175,415 | +€36,660 | +26.4% |
| Amounts receivable within one year | 40/41 | €21,658 | €21,296 | -€362 | -1.7% |
| Trade receivables | 40 | €20,328 | €21,296 | +€968 | +4.8% |
| Other amounts receivable | 41 | €1,330 | - | -€1,330 | |
| Current investments | 50/53 | €30,000 | €119,999 | +€89,999 | +300% |
| Cash at bank and in hand | 54/58 | €86,544 | €32,055 | -€54,489 | -63.0% |
| Deferred charges and accrued income | 490/1 | €553 | €2,064 | +€1,512 | +273% |
| Total equity and liabilities | 10/49 | €180,263 | €222,737 | +€42,474 | +23.6% |
| Equity | 10/15 | €124,640 | €192,711 | +€68,071 | +54.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €119,640 | €187,711 | +€68,071 | +56.9% |
| Distributable reserves | 133 | €119,640 | €187,711 | +€68,071 | +56.9% |
| Amounts payable | 17/49 | €55,623 | €30,026 | -€25,597 | -46.0% |
| Amounts payable within one year | 42/48 | €54,982 | €30,026 | -€24,956 | -45.4% |
| Trade debts | 44 | €1,085 | €821 | -€264 | -24.3% |
| Suppliers | 440/4 | €1,085 | €821 | -€264 | -24.3% |
| Taxes, remuneration and social security | 45 | €53,042 | €28,300 | -€24,742 | -46.6% |
| Taxes | 450/3 | €51,003 | €28,300 | -€22,704 | -44.5% |
| Remuneration and social security | 454/9 | €2,039 | - | -€2,039 | |
| Other amounts payable | 47/48 | €855 | €905 | +€50 | +5.8% |
| Accrued charges and deferred income | 492/3 | €641 | - | -€641 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,570 | €11,163 | +€2,593 | +30.3% |
| Other operating charges | 640/8 | €1,717 | €760 | -€957 | -55.7% |
| Non-recurring operating charges | 66A | - | €68 | +€68 | |
| Gross operating margin | 9900 | €181,796 | €106,109 | -€75,688 | -41.6% |
| Operating profit (loss) | 9901 | €171,509 | €94,118 | -€77,391 | -45.1% |
| Financial income | 75/76B | €206 | €778 | +€572 | +277% |
| Recurring financial income | 75 | €206 | €778 | +€572 | +277% |
| Financial charges | 65/66B | €1,011 | -€1,000 | -€2,011 | |
| Recurring financial charges | 65 | €1,011 | -€1,000 | -€2,011 | |
| Profit (loss) for the period before taxes | 9903 | €170,705 | €95,896 | -€74,809 | -43.8% |
| Income taxes | 67/77 | €51,065 | €27,826 | -€23,239 | -45.5% |
| Profit (loss) for the period | 9904 | €119,640 | €68,071 | -€51,569 | -43.1% |
| Profit (loss) for the period to be appropriated | 9905 | €119,640 | €68,071 | -€51,569 | -43.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.