ELYSARA: 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.
ELYSARA
Largest movements
- Current investments -€1.7m
down €1.7m (-39.8%), from €4.2m to €2.5m
- Financial fixed assets +€490,214
up €490,214 (+19.3%), from €2.5m to €3.0m
- Reserves -€822,401
down €822,401 (-8.8%), from €9.4m to €8.6m
of which Distributable reserves: -€822,401
- Tax, wage and social debts -€370,322
down €370,322 (-85.8%), from €431,376 to €61,054
of which Taxes: -€371,412
- Financial charges +€757,807
up €757,807 (+402%), from €188,337 to €946,144
- Financial income -€369,370
down €369,370 (-65.9%), from €560,218 to €190,848
- Taxes -€271,932
down €271,932 (-44.6%), from €609,822 to €337,890
- Gross operating margin +€127,677
up €127,677 (+9.0%), from €1.4m to €1.5m
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 | €9,870,593 | €8,663,560 | -€1.2m | -12.2% |
| Fixed assets | 21/28 | €4,554,102 | €5,064,407 | +€510,305 | +11.2% |
| Tangible fixed assets | 22/27 | €2,010,040 | €2,030,131 | +€20,091 | +1.0% |
| Land and buildings | 22 | €519,315 | €503,648 | -€15,667 | -3.0% |
| Plant, machinery and equipment | 23 | €580,485 | €547,567 | -€32,918 | -5.7% |
| Furniture and vehicles | 24 | €910,239 | €978,916 | +€68,676 | +7.5% |
| Financial fixed assets | 28 | €2,544,062 | €3,034,276 | +€490,214 | +19.3% |
| Current assets | 29/58 | €5,316,491 | €3,599,154 | -€1.7m | -32.3% |
| Amounts receivable within one year | 40/41 | €85,041 | €133,302 | +€48,261 | +56.7% |
| Trade receivables | 40 | €532 | - | -€532 | |
| Other amounts receivable | 41 | €84,509 | €133,302 | +€48,793 | +57.7% |
| Current investments | 50/53 | €4,215,922 | €2,538,342 | -€1.7m | -39.8% |
| Cash at bank and in hand | 54/58 | €1,002,847 | €922,987 | -€79,861 | -8.0% |
| Deferred charges and accrued income | 490/1 | €12,680 | €4,523 | -€8,157 | -64.3% |
| Total equity and liabilities | 10/49 | €9,870,593 | €8,663,560 | -€1.2m | -12.2% |
| Equity | 10/15 | €9,400,539 | €8,578,138 | -€822,401 | -8.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €9,388,139 | €8,565,738 | -€822,401 | -8.8% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,134 | €4,134 | = | 0.0% |
| Distributable reserves | 133 | €9,382,151 | €8,559,749 | -€822,401 | -8.8% |
| Amounts payable | 17/49 | €470,053 | €85,422 | -€384,631 | -81.8% |
| Amounts payable within one year | 42/48 | €470,053 | €85,422 | -€384,631 | -81.8% |
| Trade debts | 44 | €14,131 | €24,368 | +€10,238 | +72.4% |
| Suppliers | 440/4 | €14,131 | €24,368 | +€10,238 | +72.4% |
| Taxes, remuneration and social security | 45 | €431,376 | €61,054 | -€370,322 | -85.8% |
| Taxes | 450/3 | €428,439 | €57,026 | -€371,412 | -86.7% |
| Remuneration and social security | 454/9 | €2,937 | €4,028 | +€1,090 | +37.1% |
| Other amounts payable | 47/48 | €24,547 | - | -€24,547 | |
| Non-recurring operating income | 76A | - | €83 | +€83 | |
| Remuneration, social security and pensions | 62 | €33,740 | €47,159 | +€13,419 | +39.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,453 | €97,327 | +€11,874 | +13.9% |
| Other operating charges | 640/8 | €6,663 | €6,837 | +€174 | +2.6% |
| Gross operating margin | 9900 | €1,411,760 | €1,539,437 | +€127,677 | +9.0% |
| Operating profit (loss) | 9901 | €1,285,904 | €1,388,113 | +€102,210 | +7.9% |
| Financial income | 75/76B | €560,218 | €190,848 | -€369,370 | -65.9% |
| Recurring financial income | 75 | €560,218 | €190,848 | -€369,370 | -65.9% |
| Financial charges | 65/66B | €188,337 | €946,144 | +€757,807 | +402% |
| Recurring financial charges | 65 | €188,337 | €946,144 | +€757,807 | +402% |
| Profit (loss) for the period before taxes | 9903 | €1,657,785 | €632,817 | -€1.0m | -61.8% |
| Income taxes | 67/77 | €609,822 | €337,890 | -€271,932 | -44.6% |
| Profit (loss) for the period | 9904 | €1,047,963 | €294,928 | -€753,035 | -71.9% |
| Profit (loss) for the period to be appropriated | 9905 | €1,047,963 | €294,928 | -€753,035 | -71.9% |
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 18 October 2026 via checked.be.