E.R.C.: 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.C.
Largest movements
- Stocks and contracts -€4,182
down €4,182 (-11.3%), from €36,996 to €32,814
- Tangible fixed assets -€3,140
down €3,140 (-47.3%), from €6,634 to €3,493
- Deferred charges and accrued income -€640
down €640 (-77.4%), from €826 to €186
- Profit (loss) carried forward -€9,290
down €9,290, from €1,475 to -€7,815
- Other debts +€4,214
up €4,214 (+48.1%), from €8,765 to €12,979
- Debts after one year -€3,394
down €3,394 (-85.6%), from €3,963 to €569
- Trade debts +€741
up €741 (+8.9%), from €8,306 to €9,047
- Gross operating margin +€6,569
up €6,569 (+61.4%), from -€10,692 to -€4,124
- Other operating charges +€204
up €204 (+18.4%), from €1,104 to €1,308
- Depreciation -€128
down €128 (-3.9%), from €3,268 to €3,140
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 | €54,697 | €46,686 | -€8,011 | -14.6% |
| Fixed assets | 21/28 | €13,201 | €10,060 | -€3,140 | -23.8% |
| Tangible fixed assets | 22/27 | €6,634 | €3,493 | -€3,140 | -47.3% |
| Furniture and vehicles | 24 | €6,634 | €3,493 | -€3,140 | -47.3% |
| Financial fixed assets | 28 | €6,567 | €6,567 | = | 0.0% |
| Current assets | 29/58 | €41,496 | €36,625 | -€4,871 | -11.7% |
| Stocks and contracts in progress | 3 | €36,996 | €32,814 | -€4,182 | -11.3% |
| Stocks | 30/36 | €36,996 | €32,814 | -€4,182 | -11.3% |
| Amounts receivable within one year | 40/41 | €1,861 | €1,703 | -€158 | -8.5% |
| Trade receivables | 40 | €1,861 | €1,703 | -€158 | -8.5% |
| Cash at bank and in hand | 54/58 | €1,813 | €1,923 | +€110 | +6.0% |
| Deferred charges and accrued income | 490/1 | €826 | €186 | -€640 | -77.4% |
| Total equity and liabilities | 10/49 | €54,697 | €46,686 | -€8,011 | -14.6% |
| Equity | 10/15 | €29,423 | €20,132 | -€9,290 | -31.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €9,355 | €9,355 | = | 0.0% |
| Distributable reserves | 133 | €9,355 | €9,355 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,475 | -€7,815 | -€9,290 | |
| Amounts payable | 17/49 | €25,274 | €26,553 | +€1,279 | +5.1% |
| Amounts payable after more than one year | 17 | €3,963 | €569 | -€3,394 | -85.6% |
| Financial debts | 170/4 | €3,963 | €569 | -€3,394 | -85.6% |
| Amounts payable within one year | 42/48 | €21,311 | €25,984 | +€4,673 | +21.9% |
| Current portion of amounts payable after more than one year | 42 | €3,344 | €3,394 | +€49 | +1.5% |
| Trade debts | 44 | €8,306 | €9,047 | +€741 | +8.9% |
| Suppliers | 440/4 | €8,306 | €9,047 | +€741 | +8.9% |
| Taxes, remuneration and social security | 45 | €896 | €565 | -€331 | -37.0% |
| Taxes | 450/3 | €896 | €565 | -€331 | -37.0% |
| Other amounts payable | 47/48 | €8,765 | €12,979 | +€4,214 | +48.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,268 | €3,140 | -€128 | -3.9% |
| Other operating charges | 640/8 | €1,104 | €1,308 | +€204 | +18.4% |
| Gross operating margin | 9900 | -€10,692 | -€4,124 | +€6,569 | +61.4% |
| Operating profit (loss) | 9901 | -€15,065 | -€8,572 | +€6,493 | +43.1% |
| Financial income | 75/76B | €247 | €281 | +€34 | +13.9% |
| Recurring financial income | 75 | €247 | €281 | +€34 | +13.9% |
| Financial charges | 65/66B | €806 | €855 | +€50 | +6.2% |
| Recurring financial charges | 65 | €806 | €855 | +€50 | +6.2% |
| Profit (loss) for the period before taxes | 9903 | -€15,624 | -€9,146 | +€6,477 | +41.5% |
| Income taxes | 67/77 | €149 | €144 | -€5 | -3.2% |
| Profit (loss) for the period | 9904 | -€15,772 | -€9,290 | +€6,482 | +41.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,772 | -€9,290 | +€6,482 | +41.1% |
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 18 October 2026 via checked.be.