ELVERE: 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.
ELVERE
Largest movements
- Current investments +€25,000
new in 2025: €25,000
- Cash +€21,031
up €21,031 (+32.5%), from €64,676 to €85,708
mainly Net result for the year (+€39,636) and Receivables within one year (+€12,610)
- Receivables within one year -€12,610
no longer reported in 2025 (was €12,610)
- Tangible fixed assets -€7,675
down €7,675 (-19.0%), from €40,494 to €32,819
of which Furniture and vehicles: -€8,364
- Reserves +€39,636
up €39,636 (+56.5%), from €70,131 to €109,767
- Tax, wage and social debts -€8,560
down €8,560 (-33.9%), from €25,267 to €16,706
- Debts after one year -€3,178
down €3,178 (-24.8%), from €12,831 to €9,653
- Accrued charges and deferred income -€2,113
down €2,113 (-82.5%), from €2,560 to €447
- Gross operating margin -€38,810
down €38,810 (-39.7%), from €97,735 to €58,925
- Taxes -€11,940
down €11,940 (-53.6%), from €22,289 to €10,349
- Depreciation +€7,193
up €7,193 (+542.7%), from €1,325 to €8,519
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 | €120,230 | €145,988 | +€25,758 | +21.4% |
| Fixed assets | 21/28 | €40,494 | €32,819 | -€7,675 | -19.0% |
| Tangible fixed assets | 22/27 | €40,494 | €32,819 | -€7,675 | -19.0% |
| Plant, machinery and equipment | 23 | - | €689 | +€689 | |
| Furniture and vehicles | 24 | €40,494 | €32,130 | -€8,364 | -20.7% |
| Current assets | 29/58 | €79,736 | €113,169 | +€33,433 | +41.9% |
| Amounts receivable within one year | 40/41 | €12,610 | - | -€12,610 | |
| Trade receivables | 40 | €12,610 | - | -€12,610 | |
| Current investments | 50/53 | - | €25,000 | +€25,000 | |
| Cash at bank and in hand | 54/58 | €64,676 | €85,708 | +€21,031 | +32.5% |
| Deferred charges and accrued income | 490/1 | €2,450 | €2,461 | +€12 | +0.5% |
| Total equity and liabilities | 10/49 | €120,230 | €145,988 | +€25,758 | +21.4% |
| Equity | 10/15 | €75,131 | €114,767 | +€39,636 | +52.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €70,131 | €109,767 | +€39,636 | +56.5% |
| Distributable reserves | 133 | €70,131 | €109,767 | +€39,636 | +56.5% |
| Amounts payable | 17/49 | €45,100 | €31,222 | -€13,878 | -30.8% |
| Amounts payable after more than one year | 17 | €12,831 | €9,653 | -€3,178 | -24.8% |
| Financial debts | 170/4 | €12,831 | €9,653 | -€3,178 | -24.8% |
| Amounts payable within one year | 42/48 | €29,709 | €21,122 | -€8,587 | -28.9% |
| Current portion of amounts payable after more than one year | 42 | €3,065 | €3,178 | +€113 | +3.7% |
| Trade debts | 44 | €1,106 | €1,034 | -€72 | -6.5% |
| Suppliers | 440/4 | €1,106 | €1,034 | -€72 | -6.5% |
| Taxes, remuneration and social security | 45 | €25,267 | €16,706 | -€8,560 | -33.9% |
| Taxes | 450/3 | €25,267 | €16,706 | -€8,560 | -33.9% |
| Other amounts payable | 47/48 | €271 | €204 | -€67 | -24.9% |
| Accrued charges and deferred income | 492/3 | €2,560 | €447 | -€2,113 | -82.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,325 | €8,519 | +€7,193 | +542.7% |
| Other operating charges | 640/8 | €493 | €168 | -€325 | -65.9% |
| Non-recurring operating charges | 66A | €3,225 | - | -€3,225 | |
| Gross operating margin | 9900 | €97,735 | €58,925 | -€38,810 | -39.7% |
| Operating profit (loss) | 9901 | €92,691 | €50,238 | -€42,453 | -45.8% |
| Financial income | 75/76B | €62 | €393 | +€331 | +531.5% |
| Recurring financial income | 75 | €62 | €393 | +€331 | +531.5% |
| Financial charges | 65/66B | €334 | €646 | +€313 | +93.8% |
| Recurring financial charges | 65 | €334 | €646 | +€313 | +93.8% |
| Profit (loss) for the period before taxes | 9903 | €92,420 | €49,985 | -€42,435 | -45.9% |
| Income taxes | 67/77 | €22,289 | €10,349 | -€11,940 | -53.6% |
| Profit (loss) for the period | 9904 | €70,131 | €39,636 | -€30,495 | -43.5% |
| Profit (loss) for the period to be appropriated | 9905 | €70,131 | €39,636 | -€30,495 | -43.5% |
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.