ELLIPS: what changed
ELLIPS
Largest movements
- Tangible fixed assets +€41,802
up €41,802 (+61.8%), from €67,653 to €109,454
of which Plant, machinery and equipment: +€31,596
- Cash -€33,320
down €33,320 (-9.1%), from €367,184 to €333,864
mainly Investment in fixed assets (net) (-€61,253) and Trade debts (-€51,052)
- Receivables within one year +€7,737
up €7,737 (+1,131%), from €684 to €8,421
of which Other amounts receivable: +€5,800
- Stocks and contracts -€7,376
down €7,376 (-21.4%), from €34,494 to €27,118
- Reserves +€70,000
up €70,000 (+97.4%), from €71,860 to €141,860
of which Distributable reserves: +€70,000
- Trade debts -€51,052
down €51,052 (-58.4%), from €87,405 to €36,353
- Tax, wage and social debts -€11,845
down €11,845 (-23.1%), from €51,363 to €39,518
of which Taxes: -€32,131
- Profit (loss) carried forward +€9,005
up €9,005 (+3.9%), from €231,110 to €240,114
- Debts after one year -€7,115
no longer reported in 2025 (was €7,115)
- Turnover +€54,624
up €54,624 (+6.7%), from €810,554 to €865,178
- Purchases and services +€28,984
up €28,984 (+5.1%), from €570,201 to €599,185
- Gross operating margin +€23,403
up €23,403 (+9.3%), from €252,950 to €276,353
- Staff costs +€21,954
up €21,954 (+19.2%), from €114,618 to €136,572
- Depreciation +€9,240
up €9,240 (+90.5%), from €10,211 to €19,451
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €470,015 | €478,858 | +€8,844 | +1.9% |
| Fixed assets | 21/28 | €67,653 | €109,454 | +€41,802 | +61.8% |
| Tangible fixed assets | 22/27 | €67,653 | €109,454 | +€41,802 | +61.8% |
| Land and buildings | 22 | €25,386 | €29,909 | +€4,523 | +17.8% |
| Plant, machinery and equipment | 23 | €41,514 | €73,110 | +€31,596 | +76.1% |
| Furniture and vehicles | 24 | €752 | €6,435 | +€5,682 | +755% |
| Current assets | 29/58 | €402,362 | €369,404 | -€32,958 | -8.2% |
| Stocks and contracts in progress | 3 | €34,494 | €27,118 | -€7,376 | -21.4% |
| Stocks | 30/36 | €34,494 | €27,118 | -€7,376 | -21.4% |
| Amounts receivable within one year | 40/41 | €684 | €8,421 | +€7,737 | +1,131% |
| Trade receivables | 40 | €684 | €2,621 | +€1,937 | +283% |
| Other amounts receivable | 41 | - | €5,800 | +€5,800 | |
| Cash at bank and in hand | 54/58 | €367,184 | €333,864 | -€33,320 | -9.1% |
| Total equity and liabilities | 10/49 | €470,015 | €478,858 | +€8,844 | +1.9% |
| Equity | 10/15 | €321,570 | €400,574 | +€79,005 | +24.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €71,860 | €141,860 | +€70,000 | +97.4% |
| 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 | €70,000 | €140,000 | +€70,000 | +100% |
| Profit (loss) carried forward | 14 | €231,110 | €240,114 | +€9,005 | +3.9% |
| Amounts payable | 17/49 | €148,445 | €78,284 | -€70,161 | -47.3% |
| Amounts payable after more than one year | 17 | €7,115 | - | -€7,115 | |
| Financial debts | 170/4 | €7,115 | - | -€7,115 | |
| Amounts payable within one year | 42/48 | €141,330 | €78,284 | -€63,046 | -44.6% |
| Current portion of amounts payable after more than one year | 42 | €2,562 | €2,413 | -€149 | -5.8% |
| Trade debts | 44 | €87,405 | €36,353 | -€51,052 | -58.4% |
| Suppliers | 440/4 | €87,405 | €36,353 | -€51,052 | -58.4% |
| Taxes, remuneration and social security | 45 | €51,363 | €39,518 | -€11,845 | -23.1% |
| Taxes | 450/3 | €38,543 | €6,412 | -€32,131 | -83.4% |
| Remuneration and social security | 454/9 | €12,820 | €33,106 | +€20,286 | +158% |
| Turnover | 70 | €810,554 | €865,178 | +€54,624 | +6.7% |
| Non-recurring operating income | 76A | - | €0 | +€0 | |
| Goods, raw materials, services and sundry goods | 60/61 | €570,201 | €599,185 | +€28,984 | +5.1% |
| Remuneration, social security and pensions | 62 | €114,618 | €136,572 | +€21,954 | +19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,211 | €19,451 | +€9,240 | +90.5% |
| Other operating charges | 640/8 | €8,026 | €10,103 | +€2,077 | +25.9% |
| Non-recurring operating charges | 66A | €0 | €0 | -€0 | -84.8% |
| Gross operating margin | 9900 | €252,950 | €276,353 | +€23,403 | +9.3% |
| Operating profit (loss) | 9901 | €120,094 | €110,227 | -€9,868 | -8.2% |
| Financial income | 75/76B | €903 | €3,523 | +€2,620 | +290% |
| Recurring financial income | 75 | €903 | €3,523 | +€2,620 | +290% |
| Financial charges | 65/66B | €1,920 | €282 | -€1,638 | -85.3% |
| Recurring financial charges | 65 | €1,920 | €282 | -€1,638 | -85.3% |
| Non-recurring financial charges | 66B | €0 | - | -€0 | |
| Profit (loss) for the period before taxes | 9903 | €119,078 | €113,468 | -€5,610 | -4.7% |
| Income taxes | 67/77 | €34,261 | €34,463 | +€202 | +0.6% |
| Profit (loss) for the period | 9904 | €84,817 | €79,005 | -€5,812 | -6.9% |
| Profit (loss) for the period to be appropriated | 9905 | €84,817 | €79,005 | -€5,812 | -6.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.