ELVETICO +: 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.
ELVETICO +
Largest movements
- Tangible fixed assets +€343,293
up €343,293 (+52.2%), from €658,216 to €1.0m
of which Assets under construction and advance payments: +€383,478
- Receivables within one year +€39,247
up €39,247 (+52.8%), from €74,271 to €113,518
of which Other amounts receivable: +€47,424
- Debts after one year +€201,611
up €201,611 (+46.3%), from €435,608 to €637,219
of which Financial debts: +€202,661
- Current portion of long-term debt +€146,731
up €146,731 (+457.8%), from €32,053 to €178,785
- Trade debts +€17,870
up €17,870 (+520.6%), from €3,432 to €21,302
- Profit (loss) carried forward +€14,238
up €14,238 (+31.1%), from -€45,716 to -€31,478
- Other debts +€12,447
up €12,447 (+5.3%), from €233,553 to €245,999
- Depreciation -€52,246
down €52,246 (-55.6%), from €94,033 to €41,787
- Gross operating margin +€27,517
up €27,517 (+43.0%), from €63,986 to €91,504
- Financial charges +€11,264
up €11,264 (+78.4%), from €14,367 to €25,632
- Other operating charges +€8,525
up €8,525 (+751.0%), from €1,135 to €9,660
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 | €743,825 | €1,134,064 | +€390,240 | +52.5% |
| Fixed assets | 21/28 | €658,366 | €1,001,659 | +€343,293 | +52.1% |
| Tangible fixed assets | 22/27 | €658,216 | €1,001,509 | +€343,293 | +52.2% |
| Land and buildings | 22 | €464,465 | €446,854 | -€17,611 | -3.8% |
| Plant, machinery and equipment | 23 | €774 | €1,113 | +€339 | +43.8% |
| Furniture and vehicles | 24 | €19,111 | €15,516 | -€3,595 | -18.8% |
| Other tangible fixed assets | 26 | €173,867 | €154,548 | -€19,319 | -11.1% |
| Assets under construction and advance payments | 27 | - | €383,478 | +€383,478 | |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €85,458 | €132,405 | +€46,947 | +54.9% |
| Amounts receivable within one year | 40/41 | €74,271 | €113,518 | +€39,247 | +52.8% |
| Trade receivables | 40 | €16,908 | €8,731 | -€8,177 | -48.4% |
| Other amounts receivable | 41 | €57,363 | €104,787 | +€47,424 | +82.7% |
| Cash at bank and in hand | 54/58 | €10,051 | €14,866 | +€4,814 | +47.9% |
| Deferred charges and accrued income | 490/1 | €1,136 | €4,021 | +€2,885 | +254.0% |
| Total equity and liabilities | 10/49 | €743,825 | €1,134,064 | +€390,240 | +52.5% |
| Equity | 10/15 | €31,631 | €45,869 | +€14,238 | +45.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €71,147 | €71,147 | = | 0.0% |
| Tax-exempt reserves | 132 | €304 | €304 | = | 0.0% |
| Distributable reserves | 133 | €70,842 | €70,842 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€45,716 | -€31,478 | +€14,238 | +31.1% |
| Amounts payable | 17/49 | €712,194 | €1,088,195 | +€376,002 | +52.8% |
| Amounts payable after more than one year | 17 | €435,608 | €637,219 | +€201,611 | +46.3% |
| Financial debts | 170/4 | €434,558 | €637,219 | +€202,661 | +46.6% |
| Other amounts payable | 178/9 | €1,050 | - | -€1,050 | |
| Amounts payable within one year | 42/48 | €276,562 | €449,118 | +€172,556 | +62.4% |
| Current portion of amounts payable after more than one year | 42 | €32,053 | €178,785 | +€146,731 | +457.8% |
| Trade debts | 44 | €3,432 | €21,302 | +€17,870 | +520.6% |
| Suppliers | 440/4 | €3,432 | €21,302 | +€17,870 | +520.6% |
| Taxes, remuneration and social security | 45 | €7,523 | €3,032 | -€4,492 | -59.7% |
| Taxes | 450/3 | €4,693 | €186 | -€4,507 | -96.0% |
| Remuneration and social security | 454/9 | €2,830 | €2,845 | +€15 | +0.5% |
| Other amounts payable | 47/48 | €233,553 | €245,999 | +€12,447 | +5.3% |
| Accrued charges and deferred income | 492/3 | €24 | €1,858 | +€1,834 | +7625.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €94,033 | €41,787 | -€52,246 | -55.6% |
| Other operating charges | 640/8 | €1,135 | €9,660 | +€8,525 | +751.0% |
| Gross operating margin | 9900 | €63,986 | €91,504 | +€27,517 | +43.0% |
| Operating profit (loss) | 9901 | -€31,182 | €40,056 | +€71,238 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €14,367 | €25,632 | +€11,264 | +78.4% |
| Recurring financial charges | 65 | €14,367 | €25,632 | +€11,264 | +78.4% |
| Profit (loss) for the period before taxes | 9903 | -€45,549 | €14,424 | +€59,974 | |
| Income taxes | 67/77 | €167 | €186 | +€20 | +11.7% |
| Profit (loss) for the period | 9904 | -€45,716 | €14,238 | +€59,954 | |
| Profit (loss) for the period to be appropriated | 9905 | -€45,716 | €14,238 | +€59,954 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.