L'Eloge Du Temps: 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'Eloge Du Temps
Largest movements
- Stocks and contracts +€642,059
up €642,059 (+34.5%), from €1.9m to €2.5m
- Tangible fixed assets +€169,802
up €169,802 (+176%), from €96,306 to €266,108
of which Land and buildings: +€192,700
- Receivables within one year -€168,703
down €168,703 (-37.3%), from €452,818 to €284,115
of which Trade receivables: -€184,703
- Cash -€160,192
down €160,192 (-74.0%), from €216,397 to €56,204
mainly Stocks and contracts (-€642,059) and Contributions, distributions and other (-€200,000)
- Receivables after one year +€150,000
new in 2025: €150,000
- Debts after one year +€235,542
up €235,542 (+213%), from €110,506 to €346,047
of which Financial debts: +€346,047
- Current portion of long-term debt +€206,255
up €206,255 (+1,189%), from €17,353 to €223,608
- Other debts +€182,028
up €182,028 (+745%), from €24,442 to €206,471
- Tax, wage and social debts +€37,959
up €37,959 (+86.2%), from €44,034 to €81,993
of which Remuneration and social security: +€33,434
- Gross operating margin +€194,445
up €194,445 (+114%), from €171,156 to €365,600
- Taxes +€87,436
up €87,436 (+729%), from €12,000 to €99,436
- Staff costs -€22,371
down €22,371, from €15,488 to -€6,883
- Other operating charges +€21,742
up €21,742 (+571%), from €3,805 to €25,546
- Financial charges +€15,336
up €15,336 (+301%), from €5,101 to €20,437
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 | €2,627,317 | €3,270,610 | +€643,293 | +24.5% |
| Fixed assets | 21/28 | €98,006 | €266,108 | +€168,102 | +172% |
| Tangible fixed assets | 22/27 | €96,306 | €266,108 | +€169,802 | +176% |
| Land and buildings | 22 | - | €192,700 | +€192,700 | |
| Plant, machinery and equipment | 23 | €4,606 | €2,540 | -€2,066 | -44.9% |
| Furniture and vehicles | 24 | €1,865 | €1,760 | -€105 | -5.6% |
| Other tangible fixed assets | 26 | €89,835 | €69,108 | -€20,727 | -23.1% |
| Financial fixed assets | 28 | €1,700 | - | -€1,700 | |
| Current assets | 29/58 | €2,529,311 | €3,004,502 | +€475,191 | +18.8% |
| Amounts receivable after more than one year | 29 | - | €150,000 | +€150,000 | |
| Trade receivables | 290 | - | €150,000 | +€150,000 | |
| Stocks and contracts in progress | 3 | €1,859,881 | €2,501,940 | +€642,059 | +34.5% |
| Stocks | 30/36 | €1,859,881 | €2,501,940 | +€642,059 | +34.5% |
| Amounts receivable within one year | 40/41 | €452,818 | €284,115 | -€168,703 | -37.3% |
| Trade receivables | 40 | €452,818 | €268,115 | -€184,703 | -40.8% |
| Other amounts receivable | 41 | - | €16,000 | +€16,000 | |
| Cash at bank and in hand | 54/58 | €216,397 | €56,204 | -€160,192 | -74.0% |
| Deferred charges and accrued income | 490/1 | €216 | €12,244 | +€12,028 | +5,568% |
| Total equity and liabilities | 10/49 | €2,627,317 | €3,270,610 | +€643,293 | +24.5% |
| Equity | 10/15 | €1,747,344 | €1,748,001 | +€657 | 0.0% |
| Contributions | 10/11 | €55,000 | €55,000 | = | 0.0% |
| Capital | 10 | €55,000 | €55,000 | = | 0.0% |
| Issued capital | 100 | €55,000 | €55,000 | = | 0.0% |
| Reserves | 13 | €465,500 | €465,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,500 | €5,500 | = | 0.0% |
| Legal reserve | 130 | €5,500 | €5,500 | = | 0.0% |
| Distributable reserves | 133 | €460,000 | €460,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,226,844 | €1,227,501 | +€657 | +0.1% |
| Amounts payable | 17/49 | €879,973 | €1,522,609 | +€642,636 | +73.0% |
| Amounts payable after more than one year | 17 | €110,506 | €346,047 | +€235,542 | +213% |
| Financial debts | 170/4 | - | €346,047 | +€346,047 | |
| Other amounts payable | 178/9 | €110,506 | - | -€110,506 | |
| Amounts payable within one year | 42/48 | €769,467 | €1,176,562 | +€407,095 | +52.9% |
| Current portion of amounts payable after more than one year | 42 | €17,353 | €223,608 | +€206,255 | +1,189% |
| Trade debts | 44 | €683,637 | €664,490 | -€19,148 | -2.8% |
| Suppliers | 440/4 | €683,637 | €664,490 | -€19,148 | -2.8% |
| Taxes, remuneration and social security | 45 | €44,034 | €81,993 | +€37,959 | +86.2% |
| Taxes | 450/3 | €27,148 | €31,673 | +€4,525 | +16.7% |
| Remuneration and social security | 454/9 | €16,886 | €50,320 | +€33,434 | +198% |
| Other amounts payable | 47/48 | €24,442 | €206,471 | +€182,028 | +745% |
| Remuneration, social security and pensions | 62 | €15,488 | -€6,883 | -€22,371 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,994 | €26,415 | -€579 | -2.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €700 | - | -€700 | |
| Other operating charges | 640/8 | €3,805 | €25,546 | +€21,742 | +571% |
| Gross operating margin | 9900 | €171,156 | €365,600 | +€194,445 | +114% |
| Operating profit (loss) | 9901 | €124,170 | €320,523 | +€196,353 | +158% |
| Financial income | 75/76B | €0 | €8 | +€7 | +2,486% |
| Recurring financial income | 75 | €0 | €8 | +€7 | +2,486% |
| Financial charges | 65/66B | €5,101 | €20,437 | +€15,336 | +301% |
| Recurring financial charges | 65 | €5,101 | €20,437 | +€15,336 | +301% |
| Profit (loss) for the period before taxes | 9903 | €119,069 | €300,093 | +€181,024 | +152% |
| Income taxes | 67/77 | €12,000 | €99,436 | +€87,436 | +729% |
| Profit (loss) for the period | 9904 | €107,069 | €200,657 | +€93,588 | +87.4% |
| Profit (loss) for the period to be appropriated | 9905 | €107,069 | €200,657 | +€93,588 | +87.4% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.