LABEL ELEC: 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.
LABEL ELEC
Largest movements
- Receivables within one year -€160,005
down €160,005 (-21.9%), from €729,961 to €569,956
of which Trade receivables: -€173,248
- Tangible fixed assets -€116,043
down €116,043 (-37.4%), from €310,535 to €194,493
of which Furniture and vehicles: -€69,479
- Receivables after one year -€52,020
down €52,020 (-12.0%), from €434,580 to €382,560
- Deferred charges and accrued income -€19,675
down €19,675 (-50.4%), from €39,054 to €19,379
- Cash +€17,133
up €17,133 (+9.3%), from €183,565 to €200,698
mainly Other debts (+€383,048) and Receivables within one year (+€160,005)
- Reserves -€449,304
down €449,304 (-36.1%), from €1.2m to €794,780
of which Distributable reserves: -€449,304
- Other debts +€383,048
up €383,048 (+831.3%), from €46,078 to €429,126
- Debts after one year -€93,856
down €93,856 (-49.1%), from €191,171 to €97,316
- Trade debts -€80,202
down €80,202 (-57.3%), from €139,997 to €59,795
- Profit (loss) carried forward -€70,766
down €70,766 (-35.9%), from -€196,930 to -€267,697
- Gross operating margin +€84,224
up €84,224 (+31.2%), from €269,632 to €353,856
- Depreciation -€11,221
down €11,221 (-8.0%), from €140,277 to €129,056
- Staff costs +€8,849
up €8,849 (+3.2%), from €273,901 to €282,750
- Financial charges -€3,881
down €3,881 (-27.7%), from €14,021 to €10,140
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 | €1,701,052 | €1,370,442 | -€330,610 | -19.4% |
| Fixed assets | 21/28 | €313,891 | €197,849 | -€116,043 | -37.0% |
| Tangible fixed assets | 22/27 | €310,535 | €194,493 | -€116,043 | -37.4% |
| Plant, machinery and equipment | 23 | €13,523 | €6,270 | -€7,253 | -53.6% |
| Furniture and vehicles | 24 | €239,415 | €169,936 | -€69,479 | -29.0% |
| Leasing and similar rights | 25 | €56,474 | €16,940 | -€39,533 | -70.0% |
| Other tangible fixed assets | 26 | €1,124 | €1,347 | +€223 | +19.8% |
| Financial fixed assets | 28 | €3,356 | €3,356 | = | 0.0% |
| Current assets | 29/58 | €1,387,161 | €1,172,593 | -€214,567 | -15.5% |
| Amounts receivable after more than one year | 29 | €434,580 | €382,560 | -€52,020 | -12.0% |
| Other amounts receivable | 291 | €434,580 | €382,560 | -€52,020 | -12.0% |
| Amounts receivable within one year | 40/41 | €729,961 | €569,956 | -€160,005 | -21.9% |
| Trade receivables | 40 | €571,164 | €397,916 | -€173,248 | -30.3% |
| Other amounts receivable | 41 | €158,797 | €172,040 | +€13,243 | +8.3% |
| Cash at bank and in hand | 54/58 | €183,565 | €200,698 | +€17,133 | +9.3% |
| Deferred charges and accrued income | 490/1 | €39,054 | €19,379 | -€19,675 | -50.4% |
| Total equity and liabilities | 10/49 | €1,701,052 | €1,370,442 | -€330,610 | -19.4% |
| Equity | 10/15 | €1,147,154 | €627,083 | -€520,071 | -45.3% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €1,244,084 | €794,780 | -€449,304 | -36.1% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €1,234,084 | €784,780 | -€449,304 | -36.4% |
| Profit (loss) carried forward | 14 | -€196,930 | -€267,697 | -€70,766 | -35.9% |
| Amounts payable | 17/49 | €553,898 | €743,359 | +€189,461 | +34.2% |
| Amounts payable after more than one year | 17 | €191,171 | €97,316 | -€93,856 | -49.1% |
| Financial debts | 170/4 | €191,171 | €97,316 | -€93,856 | -49.1% |
| Amounts payable within one year | 42/48 | €362,727 | €646,043 | +€283,316 | +78.1% |
| Current portion of amounts payable after more than one year | 42 | €134,173 | €98,207 | -€35,965 | -26.8% |
| Trade debts | 44 | €139,997 | €59,795 | -€80,202 | -57.3% |
| Suppliers | 440/4 | €139,997 | €59,795 | -€80,202 | -57.3% |
| Taxes, remuneration and social security | 45 | €42,479 | €58,914 | +€16,435 | +38.7% |
| Taxes | 450/3 | €9,309 | €26,613 | +€17,305 | +185.9% |
| Remuneration and social security | 454/9 | €33,170 | €32,301 | -€869 | -2.6% |
| Other amounts payable | 47/48 | €46,078 | €429,126 | +€383,048 | +831.3% |
| Non-recurring operating income | 76A | - | €1,250 | +€1,250 | |
| Remuneration, social security and pensions | 62 | €273,901 | €282,750 | +€8,849 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €140,277 | €129,056 | -€11,221 | -8.0% |
| Other operating charges | 640/8 | €3,485 | €2,524 | -€961 | -27.6% |
| Non-recurring operating charges | 66A | €38,345 | - | -€38,345 | |
| Gross operating margin | 9900 | €269,632 | €353,856 | +€84,224 | +31.2% |
| Operating profit (loss) | 9901 | -€186,375 | -€60,473 | +€125,902 | +67.6% |
| Financial income | 75/76B | €195 | - | -€195 | |
| Recurring financial income | 75 | €195 | - | -€195 | |
| Financial charges | 65/66B | €14,021 | €10,140 | -€3,881 | -27.7% |
| Recurring financial charges | 65 | €14,021 | €10,140 | -€3,881 | -27.7% |
| Profit (loss) for the period before taxes | 9903 | -€200,201 | -€70,613 | +€129,588 | +64.7% |
| Income taxes | 67/77 | €472 | €153 | -€318 | -67.5% |
| Profit (loss) for the period | 9904 | -€200,673 | -€70,766 | +€129,906 | +64.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€200,673 | -€70,766 | +€129,906 | +64.7% |
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 9 October 2026 via checked.be.