E.R.A. Express: 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.
E.R.A. Express
Largest movements
- Stocks and contracts -€93,318
no longer reported in 2025 (was €93,318)
- Receivables within one year +€41,525
up €41,525 (+42.4%), from €98,018 to €139,543
of which Trade receivables: +€49,202
- Receivables after one year -€37,194
down €37,194 (-31.2%), from €119,238 to €82,044
- Tangible fixed assets -€12,989
no longer reported in 2025 (was €12,989)
- Cash -€6,429
down €6,429 (-54.1%), from €11,885 to €5,455
mainly Net result for the year (-€93,089) and Other debts (-€74,615)
- Profit (loss) carried forward -€93,089
down €93,089 (-47.1%), from -€197,663 to -€290,752
- Trade debts +€92,746
up €92,746 (+28.6%), from €324,758 to €417,504
- Other debts -€74,615
down €74,615 (-88.2%), from €84,615 to €10,000
- Short-term financial debts -€19,895
no longer reported in 2025 (was €19,895)
- Tax, wage and social debts -€14,858
down €14,858 (-46.4%), from €32,029 to €17,171
- Gross operating margin -€59,402
down €59,402 (-30.3%), from €195,995 to €136,592
- Staff costs +€31,992
up €31,992 (+18.0%), from €177,558 to €209,550
- Depreciation -€18,631
no longer reported in 2025 (was €18,631)
- Financial income -€4,594
down €4,594 (-91.9%), from €5,002 to €408
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 | €363,972 | €255,637 | -€108,335 | -29.8% |
| Fixed assets | 21/28 | €12,989 | - | -€12,989 | |
| Tangible fixed assets | 22/27 | €12,989 | - | -€12,989 | |
| Plant, machinery and equipment | 23 | €12,989 | - | -€12,989 | |
| Current assets | 29/58 | €350,983 | €255,637 | -€95,345 | -27.2% |
| Amounts receivable after more than one year | 29 | €119,238 | €82,044 | -€37,194 | -31.2% |
| Other amounts receivable | 291 | €119,238 | €82,044 | -€37,194 | -31.2% |
| Stocks and contracts in progress | 3 | €93,318 | - | -€93,318 | |
| Stocks | 30/36 | €93,318 | - | -€93,318 | |
| Amounts receivable within one year | 40/41 | €98,018 | €139,543 | +€41,525 | +42.4% |
| Trade receivables | 40 | €8,208 | €57,411 | +€49,202 | +599.4% |
| Other amounts receivable | 41 | €89,809 | €82,133 | -€7,677 | -8.5% |
| Cash at bank and in hand | 54/58 | €11,885 | €5,455 | -€6,429 | -54.1% |
| Deferred charges and accrued income | 490/1 | €28,525 | €28,595 | +€70 | +0.2% |
| Total equity and liabilities | 10/49 | €363,972 | €255,637 | -€108,335 | -29.8% |
| Equity | 10/15 | -€109,663 | -€202,752 | -€93,089 | -84.9% |
| Contributions | 10/11 | €80,000 | €80,000 | = | 0.0% |
| Reserves | 13 | €8,000 | €8,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,000 | €8,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €8,000 | €8,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€197,663 | -€290,752 | -€93,089 | -47.1% |
| Amounts payable | 17/49 | €473,635 | €458,390 | -€15,245 | -3.2% |
| Amounts payable within one year | 42/48 | €461,297 | €444,676 | -€16,621 | -3.6% |
| Financial debts | 43 | €19,895 | - | -€19,895 | |
| Credit institutions | 430/8 | €19,895 | - | -€19,895 | |
| Trade debts | 44 | €324,758 | €417,504 | +€92,746 | +28.6% |
| Suppliers | 440/4 | €324,758 | €417,504 | +€92,746 | +28.6% |
| Taxes, remuneration and social security | 45 | €32,029 | €17,171 | -€14,858 | -46.4% |
| Remuneration and social security | 454/9 | €32,029 | €17,171 | -€14,858 | -46.4% |
| Other amounts payable | 47/48 | €84,615 | €10,000 | -€74,615 | -88.2% |
| Accrued charges and deferred income | 492/3 | €12,338 | €13,714 | +€1,376 | +11.2% |
| Remuneration, social security and pensions | 62 | €177,558 | €209,550 | +€31,992 | +18.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,631 | - | -€18,631 | |
| Other operating charges | 640/8 | €1,930 | €282 | -€1,648 | -85.4% |
| Gross operating margin | 9900 | €195,995 | €136,592 | -€59,402 | -30.3% |
| Operating profit (loss) | 9901 | -€2,123 | -€73,239 | -€71,116 | -3349.7% |
| Financial income | 75/76B | €5,002 | €408 | -€4,594 | -91.9% |
| Recurring financial income | 75 | €5,002 | €408 | -€4,594 | -91.9% |
| Financial charges | 65/66B | €18,613 | €20,258 | +€1,645 | +8.8% |
| Recurring financial charges | 65 | €18,613 | €20,258 | +€1,645 | +8.8% |
| Profit (loss) for the period before taxes | 9903 | -€15,734 | -€93,089 | -€77,355 | -491.6% |
| Profit (loss) for the period | 9904 | -€15,734 | -€93,089 | -€77,355 | -491.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,734 | -€93,089 | -€77,355 | -491.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.