L’ELEPHANT & CO: 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.
L’ELEPHANT & CO
Largest movements
- Cash -€7,155
down €7,155 (-45.6%), from €15,700 to €8,545
mainly Stocks and contracts (-€3,084) and Tax, wage and social debts (-€2,925)
- Stocks and contracts +€3,084
up €3,084 (+385%), from €801 to €3,885
- Tangible fixed assets -€2,863
down €2,863 (-23.1%), from €12,406 to €9,544
of which Plant, machinery and equipment: -€1,437
- Deferred charges and accrued income +€1,063
up €1,063 (+330%), from €322 to €1,384
- Tax, wage and social debts -€2,925
down €2,925 (-20.3%), from €14,415 to €11,490
of which Taxes: -€1,971
- Profit (loss) carried forward -€1,183
down €1,183 (-8.1%), from €14,659 to €13,476
- Other debts -€1,118
down €1,118 (-51.1%), from €2,186 to €1,068
- Trade debts -€712
down €712 (-49.9%), from €1,426 to €714
- Gross operating margin -€14,368
down €14,368 (-27.3%), from €52,702 to €38,334
- Staff costs -€7,593
down €7,593 (-25.2%), from €30,089 to €22,496
- Other operating charges +€6,931
up €6,931 (+220%), from €3,148 to €10,079
- Taxes -€1,586
down €1,586 (-51.1%), from €3,104 to €1,518
- Depreciation +€593
up €593 (+17.6%), from €3,368 to €3,961
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 | €34,686 | €28,747 | -€5,938 | -17.1% |
| Fixed assets | 21/28 | €17,042 | €14,030 | -€3,012 | -17.7% |
| Intangible fixed assets | 21 | €219 | €69 | -€150 | -68.3% |
| Tangible fixed assets | 22/27 | €12,406 | €9,544 | -€2,863 | -23.1% |
| Land and buildings | 22 | €1,066 | €936 | -€130 | -12.2% |
| Plant, machinery and equipment | 23 | €4,933 | €3,496 | -€1,437 | -29.1% |
| Furniture and vehicles | 24 | €6,407 | €5,112 | -€1,296 | -20.2% |
| Financial fixed assets | 28 | €4,417 | €4,417 | = | 0.0% |
| Current assets | 29/58 | €17,644 | €14,718 | -€2,926 | -16.6% |
| Stocks and contracts in progress | 3 | €801 | €3,885 | +€3,084 | +385% |
| Stocks | 30/36 | €801 | €3,885 | +€3,084 | +385% |
| Amounts receivable within one year | 40/41 | €822 | €904 | +€82 | +10.0% |
| Trade receivables | 40 | - | €99 | +€99 | |
| Other amounts receivable | 41 | €822 | €805 | -€17 | -2.0% |
| Cash at bank and in hand | 54/58 | €15,700 | €8,545 | -€7,155 | -45.6% |
| Deferred charges and accrued income | 490/1 | €322 | €1,384 | +€1,063 | +330% |
| Total equity and liabilities | 10/49 | €34,686 | €28,747 | -€5,938 | -17.1% |
| Equity | 10/15 | €16,659 | €15,476 | -€1,183 | -7.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,659 | €13,476 | -€1,183 | -8.1% |
| Amounts payable | 17/49 | €18,027 | €13,272 | -€4,755 | -26.4% |
| Amounts payable within one year | 42/48 | €18,027 | €13,272 | -€4,755 | -26.4% |
| Trade debts | 44 | €1,426 | €714 | -€712 | -49.9% |
| Suppliers | 440/4 | €1,426 | €714 | -€712 | -49.9% |
| Taxes, remuneration and social security | 45 | €14,415 | €11,490 | -€2,925 | -20.3% |
| Taxes | 450/3 | €12,181 | €10,209 | -€1,971 | -16.2% |
| Remuneration and social security | 454/9 | €2,234 | €1,281 | -€954 | -42.7% |
| Other amounts payable | 47/48 | €2,186 | €1,068 | -€1,118 | -51.1% |
| Remuneration, social security and pensions | 62 | €30,089 | €22,496 | -€7,593 | -25.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,368 | €3,961 | +€593 | +17.6% |
| Other operating charges | 640/8 | €3,148 | €10,079 | +€6,931 | +220% |
| Gross operating margin | 9900 | €52,702 | €38,334 | -€14,368 | -27.3% |
| Operating profit (loss) | 9901 | €16,097 | €1,797 | -€14,300 | -88.8% |
| Financial income | 75/76B | €0 | €6 | +€6 | +4,377% |
| Recurring financial income | 75 | €0 | €6 | +€6 | +4,377% |
| Financial charges | 65/66B | €1,497 | €1,468 | -€29 | -1.9% |
| Recurring financial charges | 65 | €1,497 | €1,468 | -€29 | -1.9% |
| Profit (loss) for the period before taxes | 9903 | €14,600 | €335 | -€14,266 | -97.7% |
| Income taxes | 67/77 | €3,104 | €1,518 | -€1,586 | -51.1% |
| Profit (loss) for the period | 9904 | €11,496 | -€1,183 | -€12,680 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,496 | -€1,183 | -€12,680 |
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 30 October 2026 via checked.be.