IMMO - ELRO: 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.
IMMO - ELRO
Largest movements
- Stocks and contracts +€633,311
up €633,311 (+158.5%), from €399,501 to €1.0m
- Cash +€229,399
up €229,399 (+197.8%), from €115,947 to €345,346
mainly Short-term financial debts (+€790,000) and Trade debts (+€53,962)
- Receivables within one year +€20,191
new in 2025: €20,191
of which Trade receivables: +€12,510
- Short-term financial debts +€790,000
new in 2025: €790,000
- Trade debts +€53,962
up €53,962 (+2257.3%), from €2,391 to €56,353
- Profit (loss) carried forward +€33,585
up €33,585 (+29.6%), from -€113,339 to -€79,754
- Gross operating margin +€21,000
up €21,000 (+110.8%), from €18,959 to €39,959
- Financial income +€9,684
up €9,684 (+67484.3%), from €14 to €9,698
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 | €663,464 | €1,540,564 | +€877,100 | +132.2% |
| Fixed assets | 21/28 | €146,176 | €138,350 | -€7,826 | -5.4% |
| Tangible fixed assets | 22/27 | €145,640 | €137,814 | -€7,826 | -5.4% |
| Land and buildings | 22 | €136,057 | €129,227 | -€6,830 | -5.0% |
| Plant, machinery and equipment | 23 | €2,260 | €2,015 | -€245 | -10.8% |
| Furniture and vehicles | 24 | €7,323 | €6,572 | -€751 | -10.3% |
| Financial fixed assets | 28 | €536 | €536 | = | 0.0% |
| Current assets | 29/58 | €517,288 | €1,402,214 | +€884,926 | +171.1% |
| Stocks and contracts in progress | 3 | €399,501 | €1,032,812 | +€633,311 | +158.5% |
| Stocks | 30/36 | €399,501 | €1,032,812 | +€633,311 | +158.5% |
| Amounts receivable within one year | 40/41 | - | €20,191 | +€20,191 | |
| Trade receivables | 40 | - | €12,510 | +€12,510 | |
| Other amounts receivable | 41 | - | €7,682 | +€7,682 | |
| Cash at bank and in hand | 54/58 | €115,947 | €345,346 | +€229,399 | +197.8% |
| Deferred charges and accrued income | 490/1 | €1,840 | €3,865 | +€2,025 | +110.1% |
| Total equity and liabilities | 10/49 | €663,464 | €1,540,564 | +€877,100 | +132.2% |
| Equity | 10/15 | €484,501 | €518,086 | +€33,585 | +6.9% |
| Contributions | 10/11 | €436,570 | €436,570 | = | 0.0% |
| Capital | 10 | €436,570 | €436,570 | = | 0.0% |
| Issued capital | 100 | €436,570 | €436,570 | = | 0.0% |
| Reserves | 13 | €161,271 | €161,271 | = | 0.0% |
| Non-distributable reserves | 130/1 | €25,658 | €25,658 | = | 0.0% |
| Legal reserve | 130 | €25,658 | €25,658 | = | 0.0% |
| Distributable reserves | 133 | €135,613 | €135,613 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€113,339 | -€79,754 | +€33,585 | +29.6% |
| Amounts payable | 17/49 | €178,963 | €1,022,478 | +€843,515 | +471.3% |
| Amounts payable within one year | 42/48 | €170,219 | €1,022,478 | +€852,259 | +500.7% |
| Financial debts | 43 | - | €790,000 | +€790,000 | |
| Other loans | 439 | - | €790,000 | +€790,000 | |
| Trade debts | 44 | €2,391 | €56,353 | +€53,962 | +2257.3% |
| Suppliers | 440/4 | €2,391 | €56,353 | +€53,962 | +2257.3% |
| Other amounts payable | 47/48 | €167,829 | €176,125 | +€8,297 | +4.9% |
| Accrued charges and deferred income | 492/3 | €8,744 | €0 | -€8,744 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,728 | €7,826 | +€98 | +1.3% |
| Other operating charges | 640/8 | €8,462 | €8,162 | -€300 | -3.5% |
| Gross operating margin | 9900 | €18,959 | €39,959 | +€21,000 | +110.8% |
| Operating profit (loss) | 9901 | €2,770 | €23,971 | +€21,201 | +765.5% |
| Financial income | 75/76B | €14 | €9,698 | +€9,684 | +67484.3% |
| Recurring financial income | 75 | €14 | €9,698 | +€9,684 | +67484.3% |
| Financial charges | 65/66B | €31 | €84 | +€53 | +174.5% |
| Recurring financial charges | 65 | €31 | €84 | +€53 | +174.5% |
| Profit (loss) for the period before taxes | 9903 | €2,753 | €33,585 | +€30,832 | +1119.8% |
| Profit (loss) for the period | 9904 | €2,753 | €33,585 | +€30,832 | +1119.8% |
| Profit (loss) for the period to be appropriated | 9905 | €2,753 | €33,585 | +€30,832 | +1119.8% |
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 7 October 2026 via checked.be.