T'ELISE: 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.
T'ELISE
Largest movements
- Receivables within one year -€44,056
down €44,056 (-99.6%), from €44,229 to €173
of which Trade receivables: -€40,355
- Cash +€8,755
up €8,755 (+182%), from €4,820 to €13,575
mainly Receivables within one year (+€44,056) and Depreciation (+€4,630)
- Tangible fixed assets -€1,590
down €1,590 (-12.2%), from €13,018 to €11,428
of which Other tangible fixed assets: -€2,025
- Profit (loss) carried forward -€41,458
down €41,458 (-70.3%), from €59,014 to €17,556
- Trade debts +€2,644
up €2,644 (+2,299%), from €115 to €2,759
- Tax, wage and social debts +€1,925
up €1,925 (+2,637%), from €73 to €1,998
- Gross operating margin -€36,267
down €36,267, from €6,395 to -€29,872
- Financial charges +€3,174
up €3,174 (+398%), from €797 to €3,971
- Taxes +€2,585
new in 2025: €2,585
- Depreciation +€1,536
up €1,536 (+49.6%), from €3,094 to €4,630
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 | €65,402 | €28,513 | -€36,889 | -56.4% |
| Fixed assets | 21/28 | €13,018 | €11,428 | -€1,590 | -12.2% |
| Tangible fixed assets | 22/27 | €13,018 | €11,428 | -€1,590 | -12.2% |
| Plant, machinery and equipment | 23 | €2,883 | €3,599 | +€716 | +24.8% |
| Furniture and vehicles | 24 | €425 | €144 | -€281 | -66.1% |
| Other tangible fixed assets | 26 | €9,710 | €7,685 | -€2,025 | -20.9% |
| Current assets | 29/58 | €52,384 | €17,085 | -€35,299 | -67.4% |
| Stocks and contracts in progress | 3 | €3,039 | €3,039 | = | 0.0% |
| Stocks | 30/36 | €3,039 | €3,039 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €44,229 | €173 | -€44,056 | -99.6% |
| Trade receivables | 40 | €40,528 | €173 | -€40,355 | -99.6% |
| Other amounts receivable | 41 | €3,701 | - | -€3,701 | |
| Cash at bank and in hand | 54/58 | €4,820 | €13,575 | +€8,755 | +182% |
| Deferred charges and accrued income | 490/1 | €296 | €298 | +€2 | +0.7% |
| Total equity and liabilities | 10/49 | €65,402 | €28,513 | -€36,889 | -56.4% |
| Equity | 10/15 | €65,214 | €23,756 | -€41,458 | -63.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €59,014 | €17,556 | -€41,458 | -70.3% |
| Amounts payable | 17/49 | €188 | €4,757 | +€4,569 | +2,430% |
| Amounts payable within one year | 42/48 | €188 | €4,757 | +€4,569 | +2,430% |
| Trade debts | 44 | €115 | €2,759 | +€2,644 | +2,299% |
| Suppliers | 440/4 | €115 | €2,759 | +€2,644 | +2,299% |
| Taxes, remuneration and social security | 45 | €73 | €1,998 | +€1,925 | +2,637% |
| Taxes | 450/3 | €73 | €1,998 | +€1,925 | +2,637% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,094 | €4,630 | +€1,536 | +49.6% |
| Other operating charges | 640/8 | €387 | €400 | +€13 | +3.4% |
| Gross operating margin | 9900 | €6,395 | -€29,872 | -€36,267 | |
| Operating profit (loss) | 9901 | €2,914 | -€34,902 | -€37,816 | |
| Financial charges | 65/66B | €797 | €3,971 | +€3,174 | +398% |
| Recurring financial charges | 65 | €797 | €3,971 | +€3,174 | +398% |
| Profit (loss) for the period before taxes | 9903 | €2,117 | -€38,873 | -€40,990 | |
| Income taxes | 67/77 | - | €2,585 | +€2,585 | |
| Profit (loss) for the period | 9904 | €2,117 | -€41,458 | -€43,575 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,117 | -€41,458 | -€43,575 |
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 20 October 2026 via checked.be.