TW Elek: what changed
Two fiscal 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.
TW Elek
Largest movements
- Tangible fixed assets +€42,593
up €42,593 (+171.3%), from €24,866 to €67,459
of which Furniture and vehicles: +€42,824
- Receivables within one year +€14,163
up €14,163 (+148.7%), from €9,528 to €23,691
of which Trade receivables: +€7,155
- Cash +€4,265
up €4,265 (+40.9%), from €10,418 to €14,683
mainly Net result for the year (+€33,241) and Debts after one year (+€20,302)
- Profit (loss) carried forward +€33,241
up €33,241 (+176.0%), from €18,885 to €52,126
- Debts after one year +€20,302
up €20,302 (+208.4%), from €9,739 to €30,041
- Current portion of long-term debt +€5,720
up €5,720 (+143.8%), from €3,979 to €9,698
- Trade debts +€2,127
up €2,127 (+89.1%), from €2,387 to €4,514
- Other debts -€2,105
down €2,105 (-40.2%), from €5,237 to €3,133
- Gross operating margin +€35,888
up €35,888 (+253.7%), from €14,146 to €50,034
- Taxes +€7,126
up €7,126 (+404.2%), from €1,763 to €8,890
- Depreciation +€4,887
up €4,887 (+353.6%), from €1,382 to €6,269
- Financial income +€806
up €806 (+100716.3%), from €1 to €807
- Staff costs -€634
down €634 (-75.9%), from €835 to €201
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 | €49,168 | €110,112 | +€60,944 | +124.0% |
| Fixed assets | 21/28 | €24,866 | €67,459 | +€42,593 | +171.3% |
| Tangible fixed assets | 22/27 | €24,866 | €67,459 | +€42,593 | +171.3% |
| Plant, machinery and equipment | 23 | €2,674 | €2,605 | -€69 | -2.6% |
| Furniture and vehicles | 24 | €21,484 | €64,308 | +€42,824 | +199.3% |
| Other tangible fixed assets | 26 | €708 | €547 | -€161 | -22.7% |
| Current assets | 29/58 | €24,302 | €42,653 | +€18,351 | +75.5% |
| Stocks and contracts in progress | 3 | €2,720 | €2,858 | +€138 | +5.1% |
| Stocks | 30/36 | €2,720 | €2,858 | +€138 | +5.1% |
| Amounts receivable within one year | 40/41 | €9,528 | €23,691 | +€14,163 | +148.7% |
| Trade receivables | 40 | €6,997 | €14,151 | +€7,155 | +102.3% |
| Other amounts receivable | 41 | €2,531 | €9,539 | +€7,008 | +276.9% |
| Cash at bank and in hand | 54/58 | €10,418 | €14,683 | +€4,265 | +40.9% |
| Deferred charges and accrued income | 490/1 | €1,637 | €1,421 | -€215 | -13.2% |
| Total equity and liabilities | 10/49 | €49,168 | €110,112 | +€60,944 | +124.0% |
| Equity | 10/15 | €23,885 | €57,126 | +€33,241 | +139.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,885 | €52,126 | +€33,241 | +176.0% |
| Amounts payable | 17/49 | €25,283 | €52,986 | +€27,703 | +109.6% |
| Amounts payable after more than one year | 17 | €9,739 | €30,041 | +€20,302 | +208.4% |
| Financial debts | 170/4 | €9,739 | €30,041 | +€20,302 | +208.4% |
| Amounts payable within one year | 42/48 | €15,544 | €22,945 | +€7,401 | +47.6% |
| Current portion of amounts payable after more than one year | 42 | €3,979 | €9,698 | +€5,720 | +143.8% |
| Trade debts | 44 | €2,387 | €4,514 | +€2,127 | +89.1% |
| Suppliers | 440/4 | €2,387 | €4,514 | +€2,127 | +89.1% |
| Taxes, remuneration and social security | 45 | €3,941 | €5,601 | +€1,659 | +42.1% |
| Taxes | 450/3 | €1,711 | €5,601 | +€3,890 | +227.3% |
| Remuneration and social security | 454/9 | €2,230 | €0 | -€2,230 | -100.0% |
| Other amounts payable | 47/48 | €5,237 | €3,133 | -€2,105 | -40.2% |
| Remuneration, social security and pensions | 62 | €835 | €201 | -€634 | -75.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,382 | €6,269 | +€4,887 | +353.6% |
| Other operating charges | 640/8 | €344 | €477 | +€134 | +39.0% |
| Non-recurring operating charges | 66A | €3,404 | €0 | -€3,404 | -100.0% |
| Gross operating margin | 9900 | €14,146 | €50,034 | +€35,888 | +253.7% |
| Operating profit (loss) | 9901 | €8,181 | €43,086 | +€34,905 | +426.7% |
| Financial income | 75/76B | €1 | €807 | +€806 | +100716.3% |
| Recurring financial income | 75 | €1 | €807 | +€806 | +100716.3% |
| Financial charges | 65/66B | €1,396 | €1,762 | +€366 | +26.2% |
| Recurring financial charges | 65 | €1,396 | €1,762 | +€366 | +26.2% |
| Profit (loss) for the period before taxes | 9903 | €6,785 | €42,131 | +€35,345 | +520.9% |
| Income taxes | 67/77 | €1,763 | €8,890 | +€7,126 | +404.2% |
| Profit (loss) for the period | 9904 | €5,022 | €33,241 | +€28,219 | +561.9% |
| Profit (loss) for the period to be appropriated | 9905 | €5,022 | €33,241 | +€28,219 | +561.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.