ELWY: 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.
ELWY
Largest movements
- Receivables within one year +€42,350
new in 2025: €42,350
- Cash +€6,757
up €6,757 (+6.5%), from €103,927 to €110,684
mainly Net result for the year (+€56,300) and Other debts (+€15,000)
- Stocks and contracts -€6,121
down €6,121 (-8.0%), from €76,664 to €70,543
- Deferred charges and accrued income +€5,290
new in 2025: €5,290
- Reserves +€41,300
up €41,300 (+68.3%), from €60,446 to €101,746
of which Distributable reserves: +€41,300
- Other debts +€15,000
up €15,000 (+88.6%), from €16,925 to €31,925
- Trade debts -€13,992
down €13,992 (-57.2%), from €24,466 to €10,474
- Tax, wage and social debts +€5,968
up €5,968 (+14.2%), from €41,959 to €47,927
of which Taxes: +€6,759
- Gross operating margin +€28,697
up €28,697 (+15.4%), from €186,274 to €214,971
- Taxes +€4,104
up €4,104 (+118.6%), from €3,459 to €7,563
- Staff costs +€3,899
up €3,899 (+2.7%), from €142,863 to €146,762
- Other operating charges +€3,646
up €3,646 (+687.9%), from €530 to €4,176
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 | €180,980 | €229,256 | +€48,276 | +26.7% |
| Fixed assets | 21/28 | €389 | €389 | = | 0.0% |
| Financial fixed assets | 28 | €389 | €389 | = | 0.0% |
| Current assets | 29/58 | €180,591 | €228,867 | +€48,276 | +26.7% |
| Stocks and contracts in progress | 3 | €76,664 | €70,543 | -€6,121 | -8.0% |
| Stocks | 30/36 | €76,664 | €70,543 | -€6,121 | -8.0% |
| Amounts receivable within one year | 40/41 | - | €42,350 | +€42,350 | |
| Trade receivables | 40 | - | €42,350 | +€42,350 | |
| Cash at bank and in hand | 54/58 | €103,927 | €110,684 | +€6,757 | +6.5% |
| Deferred charges and accrued income | 490/1 | - | €5,290 | +€5,290 | |
| Total equity and liabilities | 10/49 | €180,980 | €229,256 | +€48,276 | +26.7% |
| Equity | 10/15 | €97,630 | €138,930 | +€41,300 | +42.3% |
| Contributions | 10/11 | €37,184 | €37,184 | = | 0.0% |
| Reserves | 13 | €60,446 | €101,746 | +€41,300 | +68.3% |
| Non-distributable reserves | 130/1 | €10,830 | €10,830 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,830 | €10,830 | = | 0.0% |
| Distributable reserves | 133 | €49,616 | €90,916 | +€41,300 | +83.2% |
| Amounts payable | 17/49 | €83,350 | €90,326 | +€6,976 | +8.4% |
| Amounts payable within one year | 42/48 | €83,350 | €90,326 | +€6,976 | +8.4% |
| Trade debts | 44 | €24,466 | €10,474 | -€13,992 | -57.2% |
| Suppliers | 440/4 | €24,466 | €10,474 | -€13,992 | -57.2% |
| Taxes, remuneration and social security | 45 | €41,959 | €47,927 | +€5,968 | +14.2% |
| Taxes | 450/3 | €14,349 | €21,108 | +€6,759 | +47.1% |
| Remuneration and social security | 454/9 | €27,610 | €26,819 | -€791 | -2.9% |
| Other amounts payable | 47/48 | €16,925 | €31,925 | +€15,000 | +88.6% |
| Remuneration, social security and pensions | 62 | €142,863 | €146,762 | +€3,899 | +2.7% |
| Other operating charges | 640/8 | €530 | €4,176 | +€3,646 | +687.9% |
| Gross operating margin | 9900 | €186,274 | €214,971 | +€28,697 | +15.4% |
| Operating profit (loss) | 9901 | €42,881 | €64,033 | +€21,152 | +49.3% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €172 | €170 | -€2 | -1.2% |
| Recurring financial charges | 65 | €172 | €170 | -€2 | -1.2% |
| Profit (loss) for the period before taxes | 9903 | €42,710 | €63,863 | +€21,153 | +49.5% |
| Income taxes | 67/77 | €3,459 | €7,563 | +€4,104 | +118.6% |
| Profit (loss) for the period | 9904 | €39,251 | €56,300 | +€17,049 | +43.4% |
| Profit (loss) for the period to be appropriated | 9905 | €39,251 | €56,300 | +€17,049 | +43.4% |
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 11 October 2026 via checked.be.