ERFE
Dissolved and wound up on 27-03-2026Financials · financial year 2025, micro format
Annual accounts 2025 filed on 26-02-2026 PDF all 32 filings
Equity
-€324,187▼ 3.0%
2024 · -€314,667
Total assets
€9,016▲ 3.4%
2024 · €8,721
Net result
-€9,520▼ 12.5%
2024 · -€8,464
Working capital
-€42,863▼ 28.6%
2024 · -€33,344
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
-€9,277
▼ 12.8%
2025
20192025
Net result
-€9,520
▼ 12.5%
2025
20192025
Equity
-€324,187
▼ 3.0%
2025
20192025
Total assets
€9,016
▲ 3.4%
2025
20192025
Debt
€333,203
▲ 3.0%
2025
20192025
Working capital
-€42,863
▼ 28.6%
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€16--€527-€4,711▼ 794%-€2,087▲ 55.7%-€11,136▼ 434%-€8,221▲ 26.2%-€9,277▼ 12.8%
Net result-€56--€595▼ 957%-€4,747▼ 698%-€2,132▲ 55.1%-€11,183▼ 425%-€8,464▲ 24.3%-€9,520▼ 12.5%
Equity-€287,547--€288,142▼ 0.2%-€292,888▼ 1.6%-€295,020▼ 0.7%-€306,203▼ 3.8%-€314,667▼ 2.8%-€324,187▼ 3.0%
Total assets€11,824-€9,950▼ 15.9%€9,257▼ 7.0%€9,256=€8,737▼ 5.6%€8,721▼ 0.2%€9,016▲ 3.4%
Debt€299,371-€298,092▼ 0.4%€302,145▲ 1.4%€304,277▲ 0.7%€314,940▲ 3.5%€323,389▲ 2.7%€333,203▲ 3.0%
Working capital-€12,473--€13,068▼ 4.8%-€11,815▲ 9.6%-€13,947▼ 18.0%-€24,879▼ 78.4%-€33,344▼ 34.0%-€42,863▼ 28.6%
The operating result for 2025 is a loss of €9,277, larger than the loss of €8,221 in 2024.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €9,016
Fixed assets
€8,676 =
Current assets
€340 ▲ 653%
Equity and liabilities
Equity-€324,187
Debt€333,203
Equity is negative. Debt (€333,203) exceeds the balance-sheet total (€9,016).
Key figures and ratios
Current ratio
0.01▲
2024 · 0.00
ROA
-105.6%▼
2024 · -97.1%
Debt ≤ 1 year
€43,203▲
2024 · €33,389
Debt > 1 year
€290,000=
2024 · €290,000
A ratio outside any meaningful range has been withheld (balance sheet total €9,016, equity -€324,187).
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Other operating charges640/8 | - | - | - | €90 | €4,364 | €2,561 | €2,661 | ▲ 3.9% |
| Gross operating margin9900 | €2,186 | €1,670 | -€2,501 | -€1,997 | -€6,773 | -€5,661 | -€6,617 | ▼ 16.9% |
| Operating profit (loss)9901 | €16 | -€527 | -€4,711 | -€2,087 | -€11,136 | -€8,221 | -€9,277 | ▼ 12.8% |
| Financial charges65/66B | - | - | - | €45 | €46 | €243 | €243 | ▼ 0.2% |
| Recurring financial charges65 | €72 | €68 | €36 | €45 | €46 | €243 | €243 | ▼ 0.2% |
| Profit (loss) for the period before taxes9903 | -€56 | -€595 | -€4,747 | -€2,132 | -€11,183 | -€8,464 | -€9,520 | ▼ 12.5% |
| Profit (loss) for the period9904 | -€56 | -€595 | -€4,747 | -€2,132 | -€11,183 | -€8,464 | -€9,520 | ▼ 12.5% |
| Profit (loss) for the period to be appropriated9905 | -€56 | -€595 | -€4,747 | -€2,132 | -€11,183 | -€8,464 | -€9,520 | ▼ 12.5% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €11,824 | €9,950 | €9,257 | €9,256 | €8,737 | €8,721 | €9,016 | ▲ 3.4% |
| Fixed assets21/28 | €8,926 | €8,926 | €8,926 | €8,926 | €8,676 | €8,676 | €8,676 | = |
| Tangible fixed assets22/27 | €8,676 | €8,676 | €8,676 | €8,676 | €8,676 | €8,676 | €8,676 | = |
| Land and buildings22 | - | - | - | €8,676 | €8,676 | €8,676 | €8,676 | = |
| Financial fixed assets28 | €250 | €250 | €250 | €250 | - | - | - | - |
| Current assets29/58 | €2,898 | €1,023 | €330 | €330 | €60 | €45 | €340 | ▲ 653% |
| Cash at bank and in hand54/58 | €2,840 | €964 | €268 | €291 | €17 | - | €0 | - |
| Deferred charges and accrued income490/1 | - | - | - | €39 | €44 | €45 | €340 | ▲ 653% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €11,824 | €9,950 | €9,257 | €9,256 | €8,737 | €8,721 | €9,016 | ▲ 3.4% |
| Equity10/15 | -€287,547 | -€288,142 | -€292,888 | -€295,020 | -€306,203 | -€314,667 | -€324,187 | ▼ 3.0% |
| Contributions10/11 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Capital10 | - | - | - | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Issued capital100 | - | - | - | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Profit (loss) carried forward14 | -€349,520 | -€350,115 | -€354,862 | -€356,994 | -€368,176 | -€376,641 | -€386,161 | ▼ 2.5% |
| Amounts payable17/49 | €299,371 | €298,092 | €302,145 | €304,277 | €314,940 | €323,389 | €333,203 | ▲ 3.0% |
| Amounts payable after more than one year17 | €284,000 | €284,000 | €290,000 | €290,000 | €290,000 | €290,000 | €290,000 | = |
| Financial debts170/4 | - | - | - | €290,000 | €290,000 | €290,000 | €290,000 | = |
| Amounts payable within one year42/48 | €15,371 | €14,092 | €12,145 | €14,277 | €24,940 | €33,389 | €43,203 | ▲ 29.4% |
| Financial debts43 | - | - | - | - | - | €50 | - | - |
| Credit institutions430/8 | - | - | - | - | - | €50 | - | - |
| Trade debts44 | €4,049 | €4,012 | €4,025 | €387 | - | €3,948 | €4,712 | ▲ 19.4% |
| Suppliers440/4 | - | - | - | €387 | - | €3,948 | €4,712 | ▲ 19.4% |
| Other amounts payable47/48 | - | - | - | €13,890 | €24,940 | €29,391 | €38,491 | ▲ 31.0% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€56 | -€595 | -€4,747 | -€2,132 | -€11,183 | -€8,464 | -€9,520 | ▼ 12.5% |
| Operating cash flow (approximation) | -€56 | -€595 | -€4,747 | -€2,132 | -€11,183 | -€8,464 | -€9,520 | ▼ 12.5% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €250 | €0 | €0 | - |
| Change in cash | - | -€1,877 | -€695 | €23 | -€274 | - | - | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 32 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 26-02-2026 | 2026-00044026 | |
| 30-09-2024 | micro format | 29-01-2025 | 2025-00013933 | |
| 30-09-2023 | micro format | 31-01-2024 | 2024-00020190 | |
| 30-09-2022 | micro format | 01-03-2023 | 2023-00033431 | |
| 30-09-2021 | micro format | 22-02-2022 | 2022-06100058 | |
| 30-09-2020 | micro format | 18-02-2021 | 2021-05600371 | |
| 30-09-2019 | micro format | 25-02-2020 | 2020-05600511 | |
| 30-09-2018 | micro format | 27-02-2019 | 2019-06100228 | |
| 30-09-2017 | micro format | 23-02-2018 | 2018-05700046 | |
| 30-09-2016 | full format | 30-03-2017 | 2017-08500088 |