William Ellisworth: 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.
William Ellisworth
Largest movements
- Cash +€41,364
up €41,364 (+32.0%), from €129,394 to €170,758
mainly Net result for the year (+€102,751) and Current portion of long-term debt (+€6,837)
- Receivables within one year +€11,254
up €11,254 (+36.5%), from €30,849 to €42,103
of which Trade receivables: +€34,655
- Tangible fixed assets +€6,043
up €6,043 (+94.6%), from €6,386 to €12,430
- Reserves +€102,000
up €102,000 (+168%), from €60,860 to €162,860
- Other debts -€60,240
down €60,240 (-92.7%), from €65,000 to €4,760
- Current portion of long-term debt +€6,837
up €6,837 (+99.0%), from €6,909 to €13,746
- Tax, wage and social debts +€5,553
up €5,553 (+23.4%), from €23,728 to €29,281
- Trade debts +€4,013
up €4,013 (+81.4%), from €4,927 to €8,939
- Gross operating margin +€48,663
up €48,663 (+47.5%), from €102,392 to €151,055
- Taxes +€21,217
up €21,217 (+93.9%), from €22,589 to €43,805
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 | €168,257 | €227,170 | +€58,914 | +35.0% |
| Fixed assets | 21/28 | €6,386 | €12,430 | +€6,043 | +94.6% |
| Tangible fixed assets | 22/27 | €6,386 | €12,430 | +€6,043 | +94.6% |
| Furniture and vehicles | 24 | €6,386 | €12,430 | +€6,043 | +94.6% |
| Current assets | 29/58 | €161,870 | €214,741 | +€52,870 | +32.7% |
| Amounts receivable within one year | 40/41 | €30,849 | €42,103 | +€11,254 | +36.5% |
| Trade receivables | 40 | €7,447 | €42,103 | +€34,655 | +465% |
| Other amounts receivable | 41 | €23,401 | - | -€23,401 | |
| Cash at bank and in hand | 54/58 | €129,394 | €170,758 | +€41,364 | +32.0% |
| Deferred charges and accrued income | 490/1 | €1,628 | €1,880 | +€252 | +15.5% |
| Total equity and liabilities | 10/49 | €168,257 | €227,170 | +€58,914 | +35.0% |
| Equity | 10/15 | €67,693 | €170,444 | +€102,751 | +152% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €60,860 | €162,860 | +€102,000 | +168% |
| Distributable reserves | 133 | €60,860 | €162,860 | +€102,000 | +168% |
| Profit (loss) carried forward | 14 | €633 | €1,384 | +€751 | +119% |
| Amounts payable | 17/49 | €100,563 | €56,726 | -€43,837 | -43.6% |
| Amounts payable within one year | 42/48 | €100,563 | €56,726 | -€43,837 | -43.6% |
| Current portion of amounts payable after more than one year | 42 | €6,909 | €13,746 | +€6,837 | +99.0% |
| Trade debts | 44 | €4,927 | €8,939 | +€4,013 | +81.4% |
| Suppliers | 440/4 | €4,927 | €8,939 | +€4,013 | +81.4% |
| Taxes, remuneration and social security | 45 | €23,728 | €29,281 | +€5,553 | +23.4% |
| Taxes | 450/3 | €23,728 | €29,281 | +€5,553 | +23.4% |
| Other amounts payable | 47/48 | €65,000 | €4,760 | -€60,240 | -92.7% |
| Non-recurring operating income | 76A | - | €347 | +€347 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,045 | €2,514 | +€469 | +22.9% |
| Other operating charges | 640/8 | €1,408 | €644 | -€764 | -54.3% |
| Gross operating margin | 9900 | €102,392 | €151,055 | +€48,663 | +47.5% |
| Operating profit (loss) | 9901 | €98,939 | €147,898 | +€48,958 | +49.5% |
| Financial income | 75/76B | €982 | €0 | -€981 | -100.0% |
| Recurring financial income | 75 | €982 | €0 | -€981 | -100.0% |
| Financial charges | 65/66B | €828 | €1,342 | +€514 | +62.1% |
| Recurring financial charges | 65 | €828 | €1,342 | +€514 | +62.1% |
| Profit (loss) for the period before taxes | 9903 | €99,094 | €146,556 | +€47,463 | +47.9% |
| Income taxes | 67/77 | €22,589 | €43,805 | +€21,217 | +93.9% |
| Profit (loss) for the period | 9904 | €76,505 | €102,751 | +€26,246 | +34.3% |
| Profit (loss) for the period to be appropriated | 9905 | €76,505 | €102,751 | +€26,246 | +34.3% |
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 22 October 2026 via checked.be.