ELZOL: 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.
ELZOL
Largest movements
- Tangible fixed assets +€46,206
up €46,206 (+409%), from €11,299 to €57,505
- Cash +€6,012
up €6,012 (+133%), from €4,535 to €10,548
mainly Debts after one year (+€73,287) and Depreciation (+€32,929)
- Stocks and contracts -€4,788
down €4,788 (-15.4%), from €31,142 to €26,353
- Deferred charges and accrued income -€3,528
no longer reported in 2024 (was €3,528)
- Receivables within one year -€2,689
down €2,689 (-3.2%), from €83,575 to €80,886
of which Trade receivables: -€15,726
- Debts after one year +€73,287
new in 2024: €73,287
- Profit (loss) carried forward -€69,505
no longer reported in 2024 (was €69,505)
- Revaluation surpluses +€50,444
new in 2024: €50,444
- Trade debts -€17,064
down €17,064 (-52.9%), from €32,267 to €15,203
- Tax, wage and social debts +€2,704
new in 2024: €2,704
- Depreciation +€25,285
up €25,285 (+331%), from €7,644 to €32,929
- Staff costs -€23,125
down €23,125 (-25.2%), from €91,591 to €68,466
- Gross operating margin -€16,447
down €16,447 (-15.5%), from €106,098 to €89,651
- Financial charges +€3,758
up €3,758 (+262%), from €1,436 to €5,194
- Other operating charges -€1,262
down €1,262 (-50.6%), from €2,495 to €1,234
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €134,760 | €176,453 | +€41,693 | +30.9% |
| Fixed assets | 21/28 | €11,979 | €58,665 | +€46,686 | +390% |
| Tangible fixed assets | 22/27 | €11,299 | €57,505 | +€46,206 | +409% |
| Furniture and vehicles | 24 | €11,299 | €57,505 | +€46,206 | +409% |
| Financial fixed assets | 28 | €681 | €1,161 | +€480 | +70.5% |
| Current assets | 29/58 | €122,780 | €117,787 | -€4,993 | -4.1% |
| Stocks and contracts in progress | 3 | €31,142 | €26,353 | -€4,788 | -15.4% |
| Stocks | 30/36 | €31,142 | €26,353 | -€4,788 | -15.4% |
| Amounts receivable within one year | 40/41 | €83,575 | €80,886 | -€2,689 | -3.2% |
| Trade receivables | 40 | €41,597 | €25,871 | -€15,726 | -37.8% |
| Other amounts receivable | 41 | €41,978 | €55,015 | +€13,037 | +31.1% |
| Cash at bank and in hand | 54/58 | €4,535 | €10,548 | +€6,012 | +133% |
| Deferred charges and accrued income | 490/1 | €3,528 | - | -€3,528 | |
| Total equity and liabilities | 10/49 | €134,760 | €176,453 | +€41,693 | +30.9% |
| Equity | 10/15 | €90,290 | €71,229 | -€19,062 | -21.1% |
| Contributions | 10/11 | €18,600 | €20,785 | +€2,185 | +11.7% |
| Capital | 10 | €18,600 | - | -€18,600 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Revaluation surpluses | 12 | - | €50,444 | +€50,444 | |
| Reserves | 13 | €2,185 | - | -€2,185 | |
| Non-distributable reserves | 130/1 | €2,185 | - | -€2,185 | |
| Legal reserve | 130 | €2,185 | - | -€2,185 | |
| Profit (loss) carried forward | 14 | €69,505 | - | -€69,505 | |
| Amounts payable | 17/49 | €44,469 | €105,224 | +€60,754 | +137% |
| Amounts payable after more than one year | 17 | - | €73,287 | +€73,287 | |
| Financial debts | 170/4 | - | €73,287 | +€73,287 | |
| Amounts payable within one year | 42/48 | €44,469 | €31,937 | -€12,533 | -28.2% |
| Current portion of amounts payable after more than one year | 42 | €11,769 | €13,598 | +€1,829 | +15.5% |
| Financial debts | 43 | €433 | €431 | -€1 | -0.3% |
| Credit institutions | 430/8 | €433 | €431 | -€1 | -0.3% |
| Trade debts | 44 | €32,267 | €15,203 | -€17,064 | -52.9% |
| Suppliers | 440/4 | €32,267 | €15,203 | -€17,064 | -52.9% |
| Taxes, remuneration and social security | 45 | - | €2,704 | +€2,704 | |
| Taxes | 450/3 | - | €2,704 | +€2,704 | |
| Remuneration, social security and pensions | 62 | €91,591 | €68,466 | -€23,125 | -25.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,644 | €32,929 | +€25,285 | +331% |
| Other operating charges | 640/8 | €2,495 | €1,234 | -€1,262 | -50.6% |
| Non-recurring operating charges | 66A | - | €646 | +€646 | |
| Gross operating margin | 9900 | €106,098 | €89,651 | -€16,447 | -15.5% |
| Operating profit (loss) | 9901 | €4,368 | -€13,624 | -€17,991 | |
| Financial income | 75/76B | €3 | €26 | +€23 | +760% |
| Recurring financial income | 75 | €3 | €26 | +€23 | +760% |
| Financial charges | 65/66B | €1,436 | €5,194 | +€3,758 | +262% |
| Recurring financial charges | 65 | €1,436 | €5,194 | +€3,758 | +262% |
| Profit (loss) for the period before taxes | 9903 | €2,935 | -€18,791 | -€21,726 | |
| Income taxes | 67/77 | €1,250 | €270 | -€980 | -78.4% |
| Profit (loss) for the period | 9904 | €1,685 | -€19,062 | -€20,746 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,685 | -€19,062 | -€20,746 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.