HS ELEVENGO: 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.
HS ELEVENGO
Largest movements
- Receivables within one year +€63,904
up €63,904 (+223%), from €28,659 to €92,563
of which Trade receivables: +€58,842
- Tangible fixed assets +€22,173
up €22,173 (+1,138%), from €1,948 to €24,121
- Financial fixed assets +€5,000
new in 2025: €5,000
- Deferred charges and accrued income +€1,656
up €1,656 (+3,357%), from €49 to €1,705
- Profit (loss) carried forward +€26,611
up €26,611, from -€1,424 to €25,187
- Tax, wage and social debts +€20,205
up €20,205 (+76.8%), from €26,319 to €46,524
of which Remuneration and social security: +€13,462
- Debts after one year +€20,024
new in 2025: €20,024
- Trade debts +€13,873
up €13,873 (+337%), from €4,111 to €17,985
- Current portion of long-term debt +€12,801
new in 2025: €12,801
- Gross operating margin +€136,132
up €136,132 (+132%), from €102,958 to €239,090
- Staff costs +€96,890
up €96,890 (+97.9%), from €98,972 to €195,862
- Taxes +€6,080
up €6,080 (+552%), from €1,101 to €7,181
- Depreciation +€3,177
up €3,177 (+489%), from €650 to €3,827
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 | €33,472 | €125,522 | +€92,050 | +275% |
| Fixed assets | 21/28 | €1,948 | €29,121 | +€27,173 | +1,395% |
| Tangible fixed assets | 22/27 | €1,948 | €24,121 | +€22,173 | +1,138% |
| Furniture and vehicles | 24 | €1,948 | €24,121 | +€22,173 | +1,138% |
| Financial fixed assets | 28 | - | €5,000 | +€5,000 | |
| Current assets | 29/58 | €31,524 | €96,400 | +€64,877 | +206% |
| Amounts receivable within one year | 40/41 | €28,659 | €92,563 | +€63,904 | +223% |
| Trade receivables | 40 | €28,659 | €87,501 | +€58,842 | +205% |
| Other amounts receivable | 41 | - | €5,062 | +€5,062 | |
| Cash at bank and in hand | 54/58 | €2,815 | €2,132 | -€683 | -24.3% |
| Deferred charges and accrued income | 490/1 | €49 | €1,705 | +€1,656 | +3,357% |
| Total equity and liabilities | 10/49 | €33,472 | €125,522 | +€92,050 | +275% |
| Equity | 10/15 | €1,576 | €28,187 | +€26,611 | +1,688% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,424 | €25,187 | +€26,611 | |
| Amounts payable | 17/49 | €31,896 | €97,334 | +€65,439 | +205% |
| Amounts payable after more than one year | 17 | - | €20,024 | +€20,024 | |
| Financial debts | 170/4 | - | €20,024 | +€20,024 | |
| Amounts payable within one year | 42/48 | €31,896 | €77,310 | +€45,414 | +142% |
| Current portion of amounts payable after more than one year | 42 | - | €12,801 | +€12,801 | |
| Trade debts | 44 | €4,111 | €17,985 | +€13,873 | +337% |
| Suppliers | 440/4 | €4,111 | €17,985 | +€13,873 | +337% |
| Taxes, remuneration and social security | 45 | €26,319 | €46,524 | +€20,205 | +76.8% |
| Taxes | 450/3 | €10,970 | €17,712 | +€6,742 | +61.5% |
| Remuneration and social security | 454/9 | €15,350 | €28,812 | +€13,462 | +87.7% |
| Other amounts payable | 47/48 | €1,465 | - | -€1,465 | |
| Remuneration, social security and pensions | 62 | €98,972 | €195,862 | +€96,890 | +97.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €650 | €3,827 | +€3,177 | +489% |
| Other operating charges | 640/8 | €4,356 | €4,198 | -€158 | -3.6% |
| Gross operating margin | 9900 | €102,958 | €239,090 | +€136,132 | +132% |
| Operating profit (loss) | 9901 | -€1,019 | €35,203 | +€36,222 | |
| Financial income | 75/76B | - | €84 | +€84 | |
| Recurring financial income | 75 | - | €84 | +€84 | |
| Financial charges | 65/66B | €560 | €1,495 | +€936 | +167% |
| Recurring financial charges | 65 | €560 | €1,495 | +€936 | +167% |
| Profit (loss) for the period before taxes | 9903 | -€1,579 | €33,792 | +€35,371 | |
| Income taxes | 67/77 | €1,101 | €7,181 | +€6,080 | +552% |
| Profit (loss) for the period | 9904 | -€2,680 | €26,611 | +€29,291 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,680 | €26,611 | +€29,291 |
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 17 October 2026 via checked.be.