ELZENDREEF: 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.
ELZENDREEF
Largest movements
- Receivables within one year -€5,016
down €5,016 (-21.0%), from €23,859 to €18,843
of which Trade receivables: -€7,632
- Tangible fixed assets +€2,118
up €2,118 (+120.6%), from €1,756 to €3,874
- Cash -€538
down €538 (-74.8%), from €720 to €181
mainly Investment in fixed assets (net) (-€3,895) and Other debts (-€2,086)
- Other debts -€2,086
down €2,086 (-0.6%), from €360,964 to €358,878
- Profit (loss) carried forward -€1,007
down €1,007 (-0.3%), from -€377,885 to -€378,892
- Trade debts -€326
down €326 (-10.4%), from €3,118 to €2,793
- Gross operating margin -€33,995
down €33,995 (-74.4%), from €45,717 to €11,722
- Financial charges -€1,351
down €1,351 (-11.6%), from €11,662 to €10,311
- Other operating charges -€1,171
down €1,171 (-64.6%), from €1,812 to €640
- Depreciation +€597
up €597 (+50.6%), from €1,180 to €1,778
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 | €26,335 | €22,917 | -€3,418 | -13.0% |
| Fixed assets | 21/28 | €1,756 | €3,874 | +€2,118 | +120.6% |
| Tangible fixed assets | 22/27 | €1,756 | €3,874 | +€2,118 | +120.6% |
| Furniture and vehicles | 24 | €1,756 | €3,874 | +€2,118 | +120.6% |
| Current assets | 29/58 | €24,579 | €19,043 | -€5,536 | -22.5% |
| Amounts receivable within one year | 40/41 | €23,859 | €18,843 | -€5,016 | -21.0% |
| Trade receivables | 40 | €22,840 | €15,208 | -€7,632 | -33.4% |
| Other amounts receivable | 41 | €1,019 | €3,634 | +€2,615 | +256.7% |
| Cash at bank and in hand | 54/58 | €720 | €181 | -€538 | -74.8% |
| Deferred charges and accrued income | 490/1 | - | €19 | +€19 | |
| Total equity and liabilities | 10/49 | €26,335 | €22,917 | -€3,418 | -13.0% |
| Equity | 10/15 | -€337,747 | -€338,754 | -€1,007 | -0.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €21,538 | €21,538 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Tax-exempt reserves | 132 | €19,678 | €19,678 | = | 0.0% |
| Distributable reserves | 133 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | -€377,885 | -€378,892 | -€1,007 | -0.3% |
| Amounts payable | 17/49 | €364,082 | €361,671 | -€2,411 | -0.7% |
| Amounts payable within one year | 42/48 | €364,082 | €361,671 | -€2,411 | -0.7% |
| Trade debts | 44 | €3,118 | €2,793 | -€326 | -10.4% |
| Suppliers | 440/4 | €3,118 | €2,793 | -€326 | -10.4% |
| Other amounts payable | 47/48 | €360,964 | €358,878 | -€2,086 | -0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,180 | €1,778 | +€597 | +50.6% |
| Other operating charges | 640/8 | €1,812 | €640 | -€1,171 | -64.6% |
| Gross operating margin | 9900 | €45,717 | €11,722 | -€33,995 | -74.4% |
| Operating profit (loss) | 9901 | €42,725 | €9,304 | -€33,421 | -78.2% |
| Financial income | 75/76B | €0 | €0 | +€0 | +1100.0% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +1100.0% |
| Financial charges | 65/66B | €11,662 | €10,311 | -€1,351 | -11.6% |
| Recurring financial charges | 65 | €11,662 | €10,311 | -€1,351 | -11.6% |
| Profit (loss) for the period before taxes | 9903 | €31,064 | -€1,007 | -€32,070 | |
| Profit (loss) for the period | 9904 | €31,064 | -€1,007 | -€32,070 | |
| Profit (loss) for the period to be appropriated | 9905 | €31,064 | -€1,007 | -€32,070 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.