Elwin's: 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.
Elwin's
Largest movements
- Current investments +€103,955
new in 2025: €103,955
- Tangible fixed assets -€13,241
down €13,241 (-10.1%), from €131,156 to €117,915
of which Land and buildings: -€8,840
- Cash -€13,204
down €13,204 (-12.5%), from €105,765 to €92,561
mainly Current investments (-€103,955) and Investment in fixed assets (net) (-€17,331)
- Receivables within one year -€8,080
down €8,080 (-45.4%), from €17,804 to €9,724
- Reserves +€68,376
up €68,376 (+65.7%), from €104,128 to €172,504
of which Distributable reserves: +€68,376
- Other debts +€15,365
up €15,365 (+57.3%), from €26,819 to €42,184
- Debts after one year -€11,851
down €11,851 (-23.9%), from €49,684 to €37,833
- Trade debts +€8,948
up €8,948 (+790.5%), from €1,132 to €10,079
- Tax, wage and social debts -€8,120
down €8,120 (-20.6%), from €39,402 to €31,282
of which Remuneration and social security: -€6,421
- Staff costs +€8,843
up €8,843 (+4.7%), from €187,652 to €196,494
- Gross operating margin +€7,047
up €7,047 (+2.1%), from €329,684 to €336,731
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 | €263,977 | €336,009 | +€72,032 | +27.3% |
| Fixed assets | 21/28 | €133,989 | €119,748 | -€14,241 | -10.6% |
| Intangible fixed assets | 21 | €2,833 | €1,833 | -€1,000 | -35.3% |
| Tangible fixed assets | 22/27 | €131,156 | €117,915 | -€13,241 | -10.1% |
| Land and buildings | 22 | €56,320 | €47,480 | -€8,840 | -15.7% |
| Plant, machinery and equipment | 23 | €62,033 | €61,050 | -€984 | -1.6% |
| Furniture and vehicles | 24 | €12,802 | €9,385 | -€3,418 | -26.7% |
| Current assets | 29/58 | €129,988 | €216,261 | +€86,273 | +66.4% |
| Stocks and contracts in progress | 3 | €4,443 | €4,940 | +€497 | +11.2% |
| Stocks | 30/36 | €4,443 | €4,940 | +€497 | +11.2% |
| Amounts receivable within one year | 40/41 | €17,804 | €9,724 | -€8,080 | -45.4% |
| Other amounts receivable | 41 | €17,804 | €9,724 | -€8,080 | -45.4% |
| Current investments | 50/53 | - | €103,955 | +€103,955 | |
| Cash at bank and in hand | 54/58 | €105,765 | €92,561 | -€13,204 | -12.5% |
| Deferred charges and accrued income | 490/1 | €1,976 | €5,081 | +€3,105 | +157.2% |
| Total equity and liabilities | 10/49 | €263,977 | €336,009 | +€72,032 | +27.3% |
| Equity | 10/15 | €134,128 | €202,504 | +€68,376 | +51.0% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €104,128 | €172,504 | +€68,376 | +65.7% |
| Non-distributable reserves | 130/1 | €312 | €312 | = | 0.0% |
| Reserves not available under the articles | 1311 | €312 | €312 | = | 0.0% |
| Distributable reserves | 133 | €103,816 | €172,192 | +€68,376 | +65.9% |
| Amounts payable | 17/49 | €129,849 | €133,505 | +€3,656 | +2.8% |
| Amounts payable after more than one year | 17 | €49,684 | €37,833 | -€11,851 | -23.9% |
| Financial debts | 170/4 | €49,684 | €37,833 | -€11,851 | -23.9% |
| Amounts payable within one year | 42/48 | €79,165 | €95,397 | +€16,232 | +20.5% |
| Current portion of amounts payable after more than one year | 42 | €11,812 | €11,851 | +€40 | +0.3% |
| Trade debts | 44 | €1,132 | €10,079 | +€8,948 | +790.5% |
| Suppliers | 440/4 | €1,132 | €10,079 | +€8,948 | +790.5% |
| Taxes, remuneration and social security | 45 | €39,402 | €31,282 | -€8,120 | -20.6% |
| Taxes | 450/3 | €18,978 | €17,279 | -€1,699 | -9.0% |
| Remuneration and social security | 454/9 | €20,425 | €14,003 | -€6,421 | -31.4% |
| Other amounts payable | 47/48 | €26,819 | €42,184 | +€15,365 | +57.3% |
| Accrued charges and deferred income | 492/3 | €1,000 | €275 | -€725 | -72.5% |
| Remuneration, social security and pensions | 62 | €187,652 | €196,494 | +€8,843 | +4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,172 | €31,573 | +€1,401 | +4.6% |
| Other operating charges | 640/8 | €2,682 | €3,092 | +€410 | +15.3% |
| Non-recurring operating charges | 66A | - | €525 | +€525 | |
| Gross operating margin | 9900 | €329,684 | €336,731 | +€7,047 | +2.1% |
| Operating profit (loss) | 9901 | €109,178 | €105,046 | -€4,132 | -3.8% |
| Financial income | 75/76B | €88 | €278 | +€190 | +215.2% |
| Recurring financial income | 75 | €88 | €278 | +€190 | +215.2% |
| Financial charges | 65/66B | €5,919 | €3,128 | -€2,792 | -47.2% |
| Recurring financial charges | 65 | €5,919 | €3,128 | -€2,792 | -47.2% |
| Profit (loss) for the period before taxes | 9903 | €103,347 | €102,197 | -€1,150 | -1.1% |
| Income taxes | 67/77 | €35,351 | €33,821 | -€1,530 | -4.3% |
| Profit (loss) for the period | 9904 | €67,996 | €68,376 | +€380 | +0.6% |
| Profit (loss) for the period to be appropriated | 9905 | €67,996 | €68,376 | +€380 | +0.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.