ELYSIUM: 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.
What changed
ELYSIUM
NACE 64.210, Activities of holding companies
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€186,759
2024 · €172,788+€13,971
Equity
€2.8m
2024 · €2.6m+€186,759
Cash
€1.2m
2024 · €736,573+€458,459
Balance sheet total
€25.9m
2024 · €26.9m-€1.0m
Largest movements
Assets
- Tangible fixed assets -€778,797
down €778,797 (-3.8%), from €20.4m to €19.6m
- Cash +€458,459
up €458,459 (+62.2%), from €736,573 to €1.2m
mainly Depreciation (+€778,797) and Receivables within one year (+€436,986)
- Receivables within one year -€436,986
down €436,986 (-42.1%), from €1.0m to €600,471
of which Trade receivables: -€429,076
Equity and liabilities
- Debts after one year -€1.1m
down €1.1m (-5.0%), from €22.6m to €21.5m
of which Financial debts: -€1.1m
Income statement
- Depreciation -€596,646
down €596,646 (-43.4%), from €1.4m to €778,797
- Gross operating margin -€341,537
down €341,537 (-14.5%), from €2.3m to €2.0m
- Financial charges +€149,296
up €149,296 (+18.2%), from €820,138 to €969,434
- Taxes +€51,100
up €51,100 (+433.7%), from €11,782 to €62,882
- Financial income -€30,502
down €30,502 (-9.6%), from €319,052 to €288,551
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.
Result 2024
€172,788
Gross operating margin
-€341,537
Depreciation
+€596,646
Other operating charges
-€22,863
Financial income
-€30,502
Financial charges
-€149,296
Taxes
-€51,100
Deferred taxes and other
+€12,623
Result 2025
€186,759
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.
From operations
+€1.3m
Investment
+€245,375
Financing
-€1.1m
Cash 2024
€736,573
From operations (derived)
+€1.3m
Net result for the year
+€186,759
Depreciation
+€778,797
Receivables within one year
+€436,986
Smaller working-capital items
+€1,551
Tax, wage and social debts
-€73,480
Other debts
+€15,798
Investment (derived)
+€245,375
Current investments
+€245,375
Financing
-€1.1m
Debts after one year
-€1.1m
Cash 2025
€1.2m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €26,931,419 | €25,929,719 | -€1.0m | -3.7% |
| Fixed assets | 21/28 | €24,662,014 | €23,883,216 | -€778,797 | -3.2% |
| Tangible fixed assets | 22/27 | €20,387,987 | €19,609,190 | -€778,797 | -3.8% |
| Land and buildings | 22 | €20,387,987 | €19,609,190 | -€778,797 | -3.8% |
| Financial fixed assets | 28 | €4,274,027 | €4,274,027 | = | 0.0% |
| Current assets | 29/58 | €2,269,405 | €2,046,503 | -€222,902 | -9.8% |
| Amounts receivable within one year | 40/41 | €1,037,457 | €600,471 | -€436,986 | -42.1% |
| Trade receivables | 40 | €714,483 | €285,407 | -€429,076 | -60.1% |
| Other amounts receivable | 41 | €322,974 | €315,064 | -€7,910 | -2.4% |
| Current investments | 50/53 | €495,375 | €250,000 | -€245,375 | -49.5% |
| Cash at bank and in hand | 54/58 | €736,573 | €1,195,032 | +€458,459 | +62.2% |
| Deferred charges and accrued income | 490/1 | - | €1,000 | +€1,000 | |
| Total equity and liabilities | 10/49 | €26,931,419 | €25,929,719 | -€1.0m | -3.7% |
| Equity | 10/15 | €2,626,212 | €2,812,971 | +€186,759 | +7.1% |
| Contributions | 10/11 | €848,641 | €848,641 | = | 0.0% |
| Capital | 10 | €260,000 | €260,000 | = | 0.0% |
| Issued capital | 100 | €260,000 | €260,000 | = | 0.0% |
| Outside capital | 11 | €588,641 | €588,641 | = | 0.0% |
| Share premium | 1100/10 | €588,641 | €588,641 | = | 0.0% |
| Reserves | 13 | €1,777,570 | €1,964,329 | +€186,759 | +10.5% |
| Non-distributable reserves | 130/1 | €22,609 | €26,000 | +€3,391 | +15.0% |
| Legal reserve | 130 | €22,609 | €26,000 | +€3,391 | +15.0% |
| Tax-exempt reserves | 132 | €35,982 | €34,096 | -€1,886 | -5.2% |
| Distributable reserves | 133 | €1,718,978 | €1,904,233 | +€185,255 | +10.8% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €11,994 | €11,365 | -€629 | -5.2% |
| Deferred taxes | 168 | €11,994 | €11,365 | -€629 | -5.2% |
| Amounts payable | 17/49 | €24,293,213 | €23,105,383 | -€1.2m | -4.9% |
| Amounts payable after more than one year | 17 | €22,627,788 | €21,494,460 | -€1.1m | -5.0% |
| Financial debts | 170/4 | €14,827,788 | €13,694,460 | -€1.1m | -7.6% |
| Other amounts payable | 178/9 | €7,800,000 | €7,800,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,665,425 | €1,609,925 | -€55,500 | -3.3% |
| Current portion of amounts payable after more than one year | 42 | €1,133,328 | €1,133,328 | = | 0.0% |
| Financial debts | 43 | €0 | - | = | |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €9,148 | €11,329 | +€2,181 | +23.8% |
| Suppliers | 440/4 | €9,148 | €11,329 | +€2,181 | +23.8% |
| Taxes, remuneration and social security | 45 | €164,197 | €90,718 | -€73,480 | -44.8% |
| Taxes | 450/3 | €164,197 | €90,718 | -€73,480 | -44.8% |
| Other amounts payable | 47/48 | €358,752 | €374,550 | +€15,798 | +4.4% |
| Accrued charges and deferred income | 492/3 | - | €998 | +€998 | |
| Non-recurring operating income | 76A | €50,299 | €0 | -€50,299 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,375,443 | €778,797 | -€596,646 | -43.4% |
| Other operating charges | 640/8 | €275,397 | €298,260 | +€22,863 | +8.3% |
| Gross operating margin | 9900 | €2,348,490 | €2,006,953 | -€341,537 | -14.5% |
| Operating profit (loss) | 9901 | €697,650 | €929,896 | +€232,246 | +33.3% |
| Financial income | 75/76B | €319,052 | €288,551 | -€30,502 | -9.6% |
| Recurring financial income | 75 | €319,052 | €288,551 | -€30,502 | -9.6% |
| Financial charges | 65/66B | €820,138 | €969,434 | +€149,296 | +18.2% |
| Recurring financial charges | 65 | €820,138 | €969,434 | +€149,296 | +18.2% |
| Profit (loss) for the period before taxes | 9903 | €196,564 | €249,012 | +€52,448 | +26.7% |
| Transfer from deferred taxes | 780 | €581 | €629 | +€48 | +8.3% |
| Transfer to deferred taxes | 680 | €12,575 | €0 | -€12,575 | -100.0% |
| Income taxes | 67/77 | €11,782 | €62,882 | +€51,100 | +433.7% |
| Profit (loss) for the period | 9904 | €172,788 | €186,759 | +€13,971 | +8.1% |
| Transfer from tax-exempt reserves | 789 | €1,742 | €1,886 | +€144 | +8.3% |
| Transfer to tax-exempt reserves | 689 | €37,724 | €0 | -€37,724 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €136,805 | €188,645 | +€51,840 | +37.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.