ELVICOR: 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.
ELVICOR
Largest movements
- Cash -€15,177
down €15,177 (-71.3%), from €21,283 to €6,105
mainly Contributions, distributions and other (-€70,000) and Debts after one year (-€37,359)
- Tangible fixed assets -€12,908
down €12,908 (-4.4%), from €294,320 to €281,412
of which Furniture and vehicles: -€19,519
- Current investments -€9,970
down €9,970 (-52.9%), from €18,850 to €8,880
- Debts after one year -€37,359
down €37,359 (-22.9%), from €163,387 to €126,028
- Other debts +€3,781
up €3,781 (+3.0%), from €124,486 to €128,267
- Depreciation +€3,035
up €3,035 (+11.1%), from €27,396 to €30,431
- Gross operating margin -€1,608
down €1,608 (-1.2%), from €132,249 to €130,641
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 | €353,672 | €318,830 | -€34,842 | -9.9% |
| Fixed assets | 21/28 | €294,320 | €281,412 | -€12,908 | -4.4% |
| Tangible fixed assets | 22/27 | €294,320 | €281,412 | -€12,908 | -4.4% |
| Land and buildings | 22 | €226,727 | €219,697 | -€7,030 | -3.1% |
| Plant, machinery and equipment | 23 | €1,492 | €2,198 | +€707 | +47.4% |
| Furniture and vehicles | 24 | €63,438 | €43,918 | -€19,519 | -30.8% |
| Other tangible fixed assets | 26 | €2,663 | €15,598 | +€12,935 | +486% |
| Current assets | 29/58 | €59,353 | €37,418 | -€21,934 | -37.0% |
| Amounts receivable within one year | 40/41 | €17,494 | €20,594 | +€3,100 | +17.7% |
| Trade receivables | 40 | €16,091 | €20,000 | +€3,909 | +24.3% |
| Other amounts receivable | 41 | €1,403 | €594 | -€809 | -57.7% |
| Current investments | 50/53 | €18,850 | €8,880 | -€9,970 | -52.9% |
| Cash at bank and in hand | 54/58 | €21,283 | €6,105 | -€15,177 | -71.3% |
| Deferred charges and accrued income | 490/1 | €1,725 | €1,839 | +€114 | +6.6% |
| Total equity and liabilities | 10/49 | €353,672 | €318,830 | -€34,842 | -9.9% |
| Equity | 10/15 | €18,600 | €18,704 | +€104 | +0.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | - | €104 | +€104 | |
| Distributable reserves | 133 | - | €104 | +€104 | |
| Amounts payable | 17/49 | €335,072 | €300,127 | -€34,946 | -10.4% |
| Amounts payable after more than one year | 17 | €163,387 | €126,028 | -€37,359 | -22.9% |
| Financial debts | 170/4 | €163,387 | €126,028 | -€37,359 | -22.9% |
| Amounts payable within one year | 42/48 | €167,798 | €169,892 | +€2,094 | +1.2% |
| Current portion of amounts payable after more than one year | 42 | €36,846 | €37,359 | +€513 | +1.4% |
| Trade debts | 44 | €4,448 | €1,699 | -€2,749 | -61.8% |
| Suppliers | 440/4 | €4,448 | €1,699 | -€2,749 | -61.8% |
| Taxes, remuneration and social security | 45 | €2,019 | €2,567 | +€548 | +27.2% |
| Taxes | 450/3 | €2,019 | €2,567 | +€548 | +27.2% |
| Other amounts payable | 47/48 | €124,486 | €128,267 | +€3,781 | +3.0% |
| Accrued charges and deferred income | 492/3 | €3,887 | €4,206 | +€319 | +8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,396 | €30,431 | +€3,035 | +11.1% |
| Other operating charges | 640/8 | €3,285 | €2,483 | -€802 | -24.4% |
| Non-recurring operating charges | 66A | - | €1,492 | +€1,492 | |
| Gross operating margin | 9900 | €132,249 | €130,641 | -€1,608 | -1.2% |
| Operating profit (loss) | 9901 | €101,568 | €96,235 | -€5,333 | -5.3% |
| Financial income | 75/76B | €45 | €269 | +€224 | +499% |
| Recurring financial income | 75 | €45 | €269 | +€224 | +499% |
| Financial charges | 65/66B | €7,269 | €7,784 | +€515 | +7.1% |
| Recurring financial charges | 65 | €7,269 | €7,784 | +€515 | +7.1% |
| Profit (loss) for the period before taxes | 9903 | €94,344 | €88,721 | -€5,623 | -6.0% |
| Income taxes | 67/77 | €19,911 | €18,617 | -€1,294 | -6.5% |
| Profit (loss) for the period | 9904 | €74,433 | €70,104 | -€4,329 | -5.8% |
| Profit (loss) for the period to be appropriated | 9905 | €74,433 | €70,104 | -€4,329 | -5.8% |
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 16 October 2026 via checked.be.