Maison Elfa: 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.
Maison Elfa
Largest movements
- Cash -€53,606
down €53,606 (-51.1%), from €104,817 to €51,211
mainly Investment in fixed assets (net) (-€74,478) and Receivables within one year (-€23,403)
- Tangible fixed assets +€36,102
up €36,102 (+16.6%), from €217,598 to €253,700
of which Plant, machinery and equipment: +€63,811
- Receivables within one year +€23,403
up €23,403 (+736%), from €3,182 to €26,585
of which Other amounts receivable: +€24,766
- Deferred charges and accrued income +€7,238
new in 2025: €7,238
- Stocks and contracts +€5,520
up €5,520 (+45.5%), from €12,125 to €17,645
- Trade debts +€31,866
up €31,866 (+711%), from €4,485 to €36,351
- Debts after one year -€7,781
down €7,781 (-4.7%), from €166,582 to €158,802
- Other debts -€5,725
down €5,725 (-100%), from €5,725 to €0
- Tax, wage and social debts +€3,760
up €3,760 (+43.3%), from €8,677 to €12,437
of which Taxes: +€2,090
- Gross operating margin -€88,020
down €88,020 (-64.5%), from €136,557 to €48,537
- Taxes -€19,641
down €19,641, from €17,283 to -€2,358
- Depreciation -€6,936
down €6,936 (-17.2%), from €40,255 to €33,319
- Staff costs +€2,758
up €2,758 (+42.9%), from €6,422 to €9,181
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 | €338,143 | €361,857 | +€23,714 | +7.0% |
| Fixed assets | 21/28 | €218,019 | €259,178 | +€41,159 | +18.9% |
| Intangible fixed assets | 21 | €372 | €5,479 | +€5,107 | +1,375% |
| Tangible fixed assets | 22/27 | €217,598 | €253,700 | +€36,102 | +16.6% |
| Land and buildings | 22 | €187,329 | €165,803 | -€21,526 | -11.5% |
| Plant, machinery and equipment | 23 | €8,057 | €71,868 | +€63,811 | +792% |
| Furniture and vehicles | 24 | €22,212 | €16,029 | -€6,183 | -27.8% |
| Financial fixed assets | 28 | €50 | €0 | -€50 | -100% |
| Current assets | 29/58 | €120,124 | €102,679 | -€17,445 | -14.5% |
| Stocks and contracts in progress | 3 | €12,125 | €17,645 | +€5,520 | +45.5% |
| Stocks | 30/36 | €12,125 | €17,645 | +€5,520 | +45.5% |
| Amounts receivable within one year | 40/41 | €3,182 | €26,585 | +€23,403 | +736% |
| Trade receivables | 40 | €2,338 | €975 | -€1,363 | -58.3% |
| Other amounts receivable | 41 | €844 | €25,610 | +€24,766 | +2,936% |
| Cash at bank and in hand | 54/58 | €104,817 | €51,211 | -€53,606 | -51.1% |
| Deferred charges and accrued income | 490/1 | - | €7,238 | +€7,238 | |
| Total equity and liabilities | 10/49 | €338,143 | €361,857 | +€23,714 | +7.0% |
| Equity | 10/15 | €118,093 | €119,062 | +€969 | +0.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €99,493 | €100,462 | +€969 | +1.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €97,633 | €98,602 | +€969 | +1.0% |
| Amounts payable | 17/49 | €220,050 | €242,795 | +€22,745 | +10.3% |
| Amounts payable after more than one year | 17 | €166,582 | €158,802 | -€7,781 | -4.7% |
| Financial debts | 170/4 | €166,582 | €158,802 | -€7,781 | -4.7% |
| Amounts payable within one year | 42/48 | €53,468 | €83,993 | +€30,525 | +57.1% |
| Current portion of amounts payable after more than one year | 42 | €33,229 | €34,063 | +€833 | +2.5% |
| Financial debts | 43 | €1,352 | €1,142 | -€209 | -15.5% |
| Credit institutions | 430/8 | €1,352 | €1,142 | -€209 | -15.5% |
| Trade debts | 44 | €4,485 | €36,351 | +€31,866 | +711% |
| Suppliers | 440/4 | €4,485 | €36,351 | +€31,866 | +711% |
| Taxes, remuneration and social security | 45 | €8,677 | €12,437 | +€3,760 | +43.3% |
| Taxes | 450/3 | €8,448 | €10,538 | +€2,090 | +24.7% |
| Remuneration and social security | 454/9 | €228 | €1,899 | +€1,671 | +731% |
| Other amounts payable | 47/48 | €5,725 | €0 | -€5,725 | -100% |
| Remuneration, social security and pensions | 62 | €6,422 | €9,181 | +€2,758 | +42.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,255 | €33,319 | -€6,936 | -17.2% |
| Other operating charges | 640/8 | €1,041 | €936 | -€105 | -10.1% |
| Gross operating margin | 9900 | €136,557 | €48,537 | -€88,020 | -64.5% |
| Operating profit (loss) | 9901 | €88,839 | €5,102 | -€83,737 | -94.3% |
| Financial income | 75/76B | €6 | €64 | +€58 | +1,028% |
| Recurring financial income | 75 | €6 | €64 | +€58 | +1,028% |
| Financial charges | 65/66B | €6,158 | €6,555 | +€397 | +6.4% |
| Recurring financial charges | 65 | €6,158 | €6,555 | +€397 | +6.4% |
| Profit (loss) for the period before taxes | 9903 | €82,687 | -€1,389 | -€84,076 | |
| Income taxes | 67/77 | €17,283 | -€2,358 | -€19,641 | |
| Profit (loss) for the period | 9904 | €65,403 | €969 | -€64,434 | -98.5% |
| Profit (loss) for the period to be appropriated | 9905 | €65,403 | €969 | -€64,434 | -98.5% |
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 14 October 2026 via checked.be.