Ellomay Capital Ltd. (ELLO) Balance Sheet
ELLO balance sheet, 2025
December 31, 2025 · euros€845.4M assets = €679.9M liabilities + €165.5M equity
Both columns are drawn to the same scale: what ELLO owns equals what it owes plus shareholders’ equity. Hover a block for its value.
ELLO financial health
Current ratio1.25
Adequate · current assets cover current liabilities 1.25×
Debt / equity4.53
High leverage · €4.53 of debt for each $1 of equity
Equity / assets16.7%
Thin equity · of assets funded by shareholders
Cash / debt13.8%
Low cash cover · cash & short-term investments vs total debt
Goodwill & intangibles0.0%
Mostly tangible · of total assets
Descriptive bands, not a rating. Fiscal 2025.
ELLO balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | €148.5M2016 | €845.4M2025 | +21.3%/yr | |
| Total liabilities | €64.1M2016 | €679.9M2025 | +30.0%/yr | |
| Shareholders’ equity | €84.4M2016 | €140.9M2025 | +5.9%/yr | |
| Cash & short-term investments | €23.5M2016 | €88.3M2025 | +15.9%/yr | |
| Total debt | €55.9M2016 | €637.8M2025 | +31.1%/yr | |
| Net cash (debt) | −€32.4M2016 | −€549.6M2025 | −€517.2M | |
| Working capital | €22.4M2016 | €23.2M2025 | +€810,118 | |
| Current ratio | 3.122016 | 1.252025 | −1.87 | |
| Debt / equity | 0.662016 | 4.532025 | +3.86 | |
| Shares outstanding | 10.7M2016 | 12.7M2025 | +1.9%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
ELLO assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
ELLO liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
ELLO debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
ELLO balance sheet in euros
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | €88.3M | €41.1M | €52.1M | €49.3M | €71.6M | €76.7M | €54.6M | €40.3M | €27.4M | €23.5M |
| Cash & equivalents | €88.3M | €41.1M | €51.1M | €46.5M | €41.2M | €66.8M | €44.5M | €36.9M | €24.0M | €22.5M |
| Short-term investments | €21.2M | €0 | €997,000 | €2.8M | €30.4M | €9.9M | €10.1M | €2.1M | €3.4M | €972,709 |
| Receivables | €22.1M | €19.8M | €10.5M | €12.4M | €9.9M | €10.9M | €2.3M | €13.4M | €13.5M | €9.5M |
| Inventory | €583,000 | €909,000 | €1.2M | €1.2M | €640,000 | €306,000 | €284,000 | €3.4M | €2.0M | −€9.2M |
| Other current assets | €3.2M | €980,000 | €29.9M | €1.8M | €1.7M | €78,000 | €26.0M | €0 | €0 | €9.2M |
| Total current assets | €114.2M | €62.8M | €93.8M | €64.7M | €83.9M | €88.0M | €83.1M | €55.5M | €42.6M | €32.9M |
| Property, plant & equipment (net) | €611.1M | €517.1M | €438.9M | €395.8M | €363.4M | €281.3M | €142.0M | €87.2M | €78.8M | €73.3M |
| Goodwill & intangible assets | €0 | €0 | €10.5M | €4.1M | €3.5M | €3.8M | €5.0M | €4.9M | €5.5M | €4.1M |
| Long-term investments | €59.5M | €41.3M | €31.8M | €30.0M | €34.0M | €32.2M | €33.6M | €27.7M | €27.7M | €29.3M |
| Other non-current assets | €60.5M | €56.0M | €37.8M | €81.6M | €66.3M | €54.8M | €46.4M | €35.8M | €43.5M | €8.9M |
| Total assets | €845.4M | €677.3M | €612.9M | €576.2M | €551.1M | €460.2M | €310.2M | €211.2M | €198.1M | €148.5M |
| Liabilities | ||||||||||
| Accounts payable | €6.7M | €8.9M | €5.2M | €4.5M | €2.9M | €12.4M | €1.8M | €2.1M | €1.3M | €1.6M |
| Short-term debt | €59.0M | €63.6M | €50.7M | €42.3M | €166.7M | €25.3M | €31.1M | €14.6M | €7.9M | €5.8M |
| Deferred revenue | — | €902,000 | €1.1M | €1.8M | €2.8M | €3.2M | €2.0M | €126,000 | €1.8M | €2.5M |
| Total current liabilities | €91.0M | €86.7M | €88.6M | €91.2M | €205.2M | €42.7M | €37.7M | €19.9M | €11.3M | €10.6M |
| Long-term debt | €540.2M | €432.1M | €372.0M | €342.8M | €193.8M | €256.0M | €149.4M | €102.8M | €98.8M | €50.0M |
| Lease obligations | €36.3M | €26.0M | €24.4M | €22.8M | €20.1M | €17.8M | €15.6M | €0 | €3.7M | €4.0M |
| Other long-term liabilities | €48.7M | €29.2M | €27.1M | €59.1M | €38.6M | €36.4M | €15.5M | €11.5M | €10.5M | €3.5M |
| Total liabilities | €679.9M | €548.0M | €487.8M | €493.1M | €437.7M | €335.1M | €202.6M | €134.2M | €120.6M | €64.1M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | €28.0M | €25.6M | €25.6M | €25.6M | €25.6M | €25.1M | €22.0M | €20.0M | €20.0M | €25.3M |
| Retained earnings (deficit) | −€13.3M | −€11.6M | −€5.0M | −€7.3M | −€7.2M | €8.2M | €12.8M | €758,000 | −€299,000 | €4.0M |
| Treasury stock | — | — | — | — | — | — | −€1.7M | −€1.7M | −€1.7M | −€1.7M |
| Accumulated other comprehensive income | €31.4M | €20.0M | €10.0M | −€6.9M | €13.0M | €10.3M | €9.4M | €1.2M | €2.4M | −€16.2M |
| Minority interest | €24.6M | €10.7M | €10.1M | −€12.6M | — | — | €0 | €0 | €0 | €0 |
| Total shareholders' equity | €140.9M | €118.6M | €115.0M | €95.7M | €115.5M | €124.2M | €106.6M | €78.5M | €78.6M | €84.4M |
| Key figures | ||||||||||
| Total debt | €637.8M | €521.1M | €446.4M | €407.0M | €376.3M | €298.7M | €180.3M | €117.4M | €107.1M | €55.9M |
| Net cash (debt) | −€549.6M | −€479.9M | −€394.3M | −€357.7M | −€304.7M | −€222.0M | −€125.7M | −€77.1M | −€79.7M | −€32.4M |
| Working capital | €23.2M | −€23.8M | €5.2M | −€26.5M | −€121.4M | €45.3M | €45.4M | €35.7M | €31.3M | €22.4M |
| Tangible book value | €140.9M | €118.6M | €104.4M | €91.6M | €112.0M | €120.4M | €101.6M | €73.6M | €73.1M | €80.3M |
| Shares outstanding | 12.7M | 12.9M | 13.1M | 12.7M | 12.8M | 12.2M | 11.1M | 10.6M | 10.7M | 10.7M |
| Current ratio | 1.25 | 0.73 | 1.06 | 0.71 | 0.41 | 2.06 | 2.21 | 2.80 | 3.77 | 3.12 |
| Quick ratio | 1.21 | 0.70 | 0.71 | 0.68 | 0.40 | 2.05 | 1.51 | 2.70 | 3.62 | 3.12 |
| Debt / equity | 4.53 | 4.39 | 3.88 | 4.25 | 3.26 | 2.40 | 1.69 | 1.50 | 1.36 | 0.66 |
| Equity / assets | 16.7% | 17.5% | 18.8% | 16.6% | 21.0% | 27.0% | 34.4% | 37.2% | 39.7% | 56.8% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | €167.5M | €83.7M | €88.3M | €49.9M | €46.5M | €71.4M | €41.1M | €50.9M | €58.5M | €83.8M | €63.1M | €63.1M |
| Cash & equivalents | €114.1M | €83.7M | €88.3M | €49.9M | €46.5M | €35.1M | €41.1M | €48.5M | €56.0M | €82.7M | €62.1M | €62.1M |
| Short-term investments | €53.4M | — | €21.2M | — | — | €36.3M | €0 | €2.4M | €2.5M | €1.0M | €999,000 | €999,000 |
| Receivables | €18.7M | €22.9M | €22.1M | €24.9M | €18.3M | €21.4M | €19.8M | €17.8M | €706,000 | €12.2M | €14.0M | €14.0M |
| Inventory | €244,129 | €0 | €583,000 | €0 | €507,000 | €909,000 | €909,000 | €0 | €827,000 | €30.1M | €1.2M | €810,000 |
| Other current assets | €9.7M | €87.5M | €3.2M | €669,000 | €29.4M | €592,000 | €980,000 | €1.4M | €14.0M | €436,000 | €1.1M | €1.5M |
| Total current assets | €196.1M | €194.1M | €114.2M | €75.5M | €94.7M | €94.4M | €62.8M | €70.1M | €74.1M | €126.5M | €79.3M | €79.3M |
| Property, plant & equipment (net) | €703.7M | €630.7M | €611.1M | €570.5M | €541.3M | €528.4M | €517.1M | €480.3M | €475.7M | €452.9M | €433.3M | €433.3M |
| Goodwill & intangible assets | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €12.2M | €3.5M | €3.5M |
| Long-term investments | €0 | €0 | €59.5M | €57.5M | €39.6M | €40.1M | €41.3M | €35.0M | €33.5M | €33.4M | €31.8M | €32.1M |
| Other non-current assets | €59.8M | €60.7M | €60.5M | €56.0M | €53.7M | €58.4M | €56.0M | €54.7M | €51.4M | €41.8M | €64.4M | €64.1M |
| Total assets | €959.7M | €885.4M | €845.4M | €759.5M | €729.3M | €721.2M | €677.3M | €640.0M | €634.8M | €666.8M | €612.3M | €612.3M |
| Liabilities | ||||||||||||
| Accounts payable | €11.8M | €5.4M | €6.7M | €12.0M | €8.4M | €9.9M | €8.9M | €9.0M | €23.7M | €9.2M | €5.3M | €5.3M |
| Short-term debt | €108.3M | €106.0M | €59.0M | €32.6M | €54.2M | €74.6M | €63.6M | €58.6M | €50.0M | €49.9M | €53.0M | €53.0M |
| Deferred revenue | €3.5M | — | — | — | — | €902,000 | €902,000 | — | — | €14.4M | €1.1M | €15.7M |
| Total current liabilities | €158.7M | €138.4M | €91.0M | €63.9M | €76.5M | €95.2M | €86.7M | €80.9M | €85.0M | €90.9M | €76.2M | €76.2M |
| Long-term debt | €516.8M | €538.1M | €540.2M | €481.0M | €469.9M | €458.4M | €432.1M | €399.1M | €391.9M | €412.2M | €372.0M | €374.3M |
| Lease obligations | €40.2M | €37.2M | €36.3M | €34.1M | €33.7M | €33.4M | €26.0M | €26.1M | €26.4M | €25.2M | €24.4M | €25.9M |
| Other long-term liabilities | €51.8M | €50.1M | €48.7M | €45.5M | €36.7M | €36.4M | €29.2M | €29.0M | €30.3M | €31.5M | €38.9M | €36.5M |
| Total liabilities | €727.3M | €726.5M | €679.9M | €590.4M | €583.1M | €590.1M | €548.0M | €508.9M | €507.3M | €534.6M | €487.1M | €487.1M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | €28.0M | €28.0M | €28.0M | €28.0M | €25.6M | €25.6M | €25.6M | €25.6M | €25.6M | €25.6M | €25.6M | €25.6M |
| Retained earnings (deficit) | €48.2M | −€24.1M | −€13.3M | −€1.0M | −€11.3M | −€3.6M | −€11.6M | −€367,000 | −€6.5M | −€8.7M | €3.5M | €3.5M |
| Accumulated other comprehensive income | €39.2M | €35.6M | €31.4M | €21.5M | €20.2M | €13.1M | €20.0M | €8.7M | €12.7M | €16.7M | €4.8M | €4.8M |
| Minority interest | €21.9M | €24.5M | €24.6M | €25.9M | €27.1M | — | — | — | — | — | — | — |
| Total shareholders' equity | €210.5M | €134.4M | €140.9M | €143.2M | €119.1M | €119.7M | €118.6M | €118.4M | €116.3M | €118.1M | €118.3M | €118.3M |
| Key figures | ||||||||||||
| Total debt | €664.6M | €680.3M | €637.8M | €547.0M | €557.0M | €565.7M | €521.1M | €483.0M | €467.6M | €486.7M | €452.4M | €452.4M |
| Net cash (debt) | −€497.2M | −€596.6M | −€549.6M | −€497.0M | −€510.5M | −€494.3M | −€479.9M | −€432.1M | −€409.0M | −€402.9M | −€389.3M | −€389.3M |
| Working capital | €37.5M | €55.7M | €23.2M | €11.6M | €18.2M | −€835,000 | −€23.8M | −€10.8M | −€10.9M | €35.7M | €3.1M | €3.1M |
| Tangible book value | €210.5M | €134.4M | €140.9M | €143.2M | €119.1M | €119.7M | €118.6M | €118.4M | €116.3M | €105.8M | €114.8M | €114.8M |
| Shares outstanding | 13.8M | 13.7M | 12.9M | 12.8M | 12.8M | 12.9M | 12.8M | 13.0M | 12.9M | 12.9M | 12.8M | 12.8M |
| Current ratio | 1.24 | 1.40 | 1.25 | 1.18 | 1.24 | 0.99 | 0.73 | 0.87 | 0.87 | 1.39 | 1.04 | 1.04 |
| Quick ratio | 1.17 | 0.77 | 1.21 | 1.17 | 0.85 | 0.98 | 0.70 | 0.85 | 0.70 | 1.06 | 1.01 | 1.01 |
| Debt / equity | 3.16 | 5.06 | 4.53 | 3.82 | 4.68 | 4.73 | 4.39 | 4.08 | 4.02 | 4.12 | 3.82 | 3.82 |
| Equity / assets | 21.9% | 15.2% | 16.7% | 18.9% | 16.3% | 16.6% | 17.5% | 18.5% | 18.3% | 17.7% | 19.3% | 19.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in euros as reported (latest annual report filed March 31, 2026); data from EODHD.
ELLO financial position
At the end of fiscal 2025 (December 31, 2025), Ellomay Capital had total assets of €845.4 million (up 24.8% from a year earlier), total liabilities of €679.9 million and shareholders' equity of €140.9 million. It held €88.3 million in cash and short-term investments against €637.8 million of debt, net debt of €549.6 million. Its current ratio was 1.25. In the latest quarter (ended June 30, 2026) total assets were €959.7 million and equity €210.5 million.
Related: ELLO income statement, ELLO cash flow statement, ELLO key metrics. See the ELLO stock overview for the latest quote and news.
ELLO balance sheet FAQ
What are Ellomay Capital's total assets?
Ellomay Capital reported total assets of €845.4 million at the end of fiscal 2025 (December 31, 2025), compared with €677.3 million a year earlier.
How much debt does Ellomay Capital have?
Ellomay Capital had €637.8 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 4.53.
How much cash does Ellomay Capital have?
Ellomay Capital held €88.3 million in cash and short-term investments at the end of fiscal 2025; with €637.8 million of debt that is net debt of €549.6 million.
What is Ellomay Capital's book value?
Ellomay Capital's shareholders' equity (book value) was €140.9 million at the end of fiscal 2025.
What is Ellomay Capital's current ratio?
Ellomay Capital had current assets of €114.2 million and current liabilities of €91.0 million, a current ratio of 1.25 (it can cover its short-term obligations).