ELVI Partners: 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.
ELVI Partners
Largest movements
- Receivables within one year +€109,632
up €109,632 (+44.6%), from €245,990 to €355,622
of which Trade receivables: +€106,752
- Cash +€60,555
up €60,555 (+47.6%), from €127,160 to €187,716
mainly Net result for the year (+€84,905) and Trade debts (+€67,751)
- Reserves +€288,399
new in 2025: €288,399
- Profit (loss) carried forward -€217,334
no longer reported in 2025 (was €217,334)
- Trade debts +€67,751
up €67,751 (+54.9%), from €123,327 to €191,079
- Tax, wage and social debts +€14,510
up €14,510 (+40.3%), from €36,028 to €50,538
of which Remuneration and social security: +€10,789
- Other debts +€13,802
up €13,802 (+35,906%), from €38 to €13,841
- Staff costs +€86,659
new in 2025: €86,659
- Gross operating margin +€55,950
up €55,950 (+37.2%), from €150,394 to €206,344
- Taxes -€6,316
down €6,316 (-19.6%), from €32,202 to €25,887
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 | €386,728 | €553,856 | +€167,128 | +43.2% |
| Fixed assets | 21/28 | €9,159 | €4,766 | -€4,393 | -48.0% |
| Intangible fixed assets | 21 | €9,159 | €3,806 | -€5,353 | -58.4% |
| Financial fixed assets | 28 | - | €960 | +€960 | |
| Current assets | 29/58 | €377,569 | €549,091 | +€171,521 | +45.4% |
| Amounts receivable within one year | 40/41 | €245,990 | €355,622 | +€109,632 | +44.6% |
| Trade receivables | 40 | €242,757 | €349,509 | +€106,752 | +44.0% |
| Other amounts receivable | 41 | €3,233 | €6,113 | +€2,880 | +89.1% |
| Cash at bank and in hand | 54/58 | €127,160 | €187,716 | +€60,555 | +47.6% |
| Deferred charges and accrued income | 490/1 | €4,420 | €5,753 | +€1,334 | +30.2% |
| Total equity and liabilities | 10/49 | €386,728 | €553,856 | +€167,128 | +43.2% |
| Equity | 10/15 | €227,334 | €298,399 | +€71,064 | +31.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | - | €288,399 | +€288,399 | |
| Distributable reserves | 133 | - | €288,399 | +€288,399 | |
| Profit (loss) carried forward | 14 | €217,334 | - | -€217,334 | |
| Amounts payable | 17/49 | €159,394 | €255,458 | +€96,064 | +60.3% |
| Amounts payable within one year | 42/48 | €159,394 | €255,458 | +€96,064 | +60.3% |
| Trade debts | 44 | €123,327 | €191,079 | +€67,751 | +54.9% |
| Suppliers | 440/4 | €123,327 | €191,079 | +€67,751 | +54.9% |
| Taxes, remuneration and social security | 45 | €36,028 | €50,538 | +€14,510 | +40.3% |
| Taxes | 450/3 | €32,708 | €36,429 | +€3,721 | +11.4% |
| Remuneration and social security | 454/9 | €3,320 | €14,109 | +€10,789 | +325% |
| Other amounts payable | 47/48 | €38 | €13,841 | +€13,802 | +35,906% |
| Remuneration, social security and pensions | 62 | - | €86,659 | +€86,659 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,652 | €5,353 | +€702 | +15.1% |
| Other operating charges | 640/8 | €595 | €1,420 | +€825 | +139% |
| Gross operating margin | 9900 | €150,394 | €206,344 | +€55,950 | +37.2% |
| Operating profit (loss) | 9901 | €145,147 | €112,911 | -€32,236 | -22.2% |
| Financial income | 75/76B | €410 | €18 | -€392 | -95.7% |
| Recurring financial income | 75 | €410 | €18 | -€392 | -95.7% |
| Financial charges | 65/66B | €2,039 | €2,137 | +€98 | +4.8% |
| Recurring financial charges | 65 | €2,039 | €2,137 | +€98 | +4.8% |
| Profit (loss) for the period before taxes | 9903 | €143,518 | €110,792 | -€32,726 | -22.8% |
| Income taxes | 67/77 | €32,202 | €25,887 | -€6,316 | -19.6% |
| Profit (loss) for the period | 9904 | €111,315 | €84,905 | -€26,410 | -23.7% |
| Profit (loss) for the period to be appropriated | 9905 | €111,315 | €84,905 | -€26,410 | -23.7% |
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 29 October 2026 via checked.be.