E.R.C.: what changed
Two fiscal 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
- Tangible fixed assets +€657,130
up €657,130 (+186.6%), from €352,098 to €1.0m
of which Land and buildings: +€657,400
- Deferred charges and accrued income +€40,000
new in 2025: €40,000
- Debts after one year +€600,000
new in 2025: €600,000
- Other debts +€90,000
up €90,000 (+2805.3%), from €3,208 to €93,208
- Other operating charges -€17,420
down €17,420 (-93.2%), from €18,685 to €1,266
- Gross operating margin +€11,417
up €11,417 (+55.2%), from €20,699 to €32,116
- Financial charges +€7,929
up €7,929 (+33036.9%), from €24 to €7,953
- Depreciation +€7,017
up €7,017 (+84.8%), from €8,278 to €15,295
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 | €352,098 | €1,049,700 | +€697,602 | +198.1% |
| Fixed assets | 21/28 | €352,098 | €1,009,228 | +€657,130 | +186.6% |
| Tangible fixed assets | 22/27 | €352,098 | €1,009,228 | +€657,130 | +186.6% |
| Land and buildings | 22 | €350,123 | €1,007,523 | +€657,400 | +187.8% |
| Plant, machinery and equipment | 23 | €1,975 | €1,705 | -€270 | -13.7% |
| Current assets | 29/58 | - | €40,472 | +€40,472 | |
| Cash at bank and in hand | 54/58 | - | €472 | +€472 | |
| Deferred charges and accrued income | 490/1 | - | €40,000 | +€40,000 | |
| Total equity and liabilities | 10/49 | €352,098 | €1,049,700 | +€697,602 | +198.1% |
| Equity | 10/15 | €348,890 | €356,492 | +€7,602 | +2.2% |
| Contributions | 10/11 | €407,940 | €407,940 | = | 0.0% |
| Capital | 10 | €407,940 | €407,940 | = | 0.0% |
| Issued capital | 100 | €407,940 | €407,940 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€59,050 | -€51,448 | +€7,602 | +12.9% |
| Amounts payable | 17/49 | €3,208 | €693,208 | +€690,000 | +21507.4% |
| Amounts payable after more than one year | 17 | - | €600,000 | +€600,000 | |
| Financial debts | 170/4 | - | €600,000 | +€600,000 | |
| Amounts payable within one year | 42/48 | €3,208 | €93,208 | +€90,000 | +2805.3% |
| Other amounts payable | 47/48 | €3,208 | €93,208 | +€90,000 | +2805.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,278 | €15,295 | +€7,017 | +84.8% |
| Other operating charges | 640/8 | €18,685 | €1,266 | -€17,420 | -93.2% |
| Gross operating margin | 9900 | €20,699 | €32,116 | +€11,417 | +55.2% |
| Operating profit (loss) | 9901 | -€6,264 | €15,555 | +€21,820 | |
| Financial income | 75/76B | €16 | - | -€16 | |
| Recurring financial income | 75 | €16 | - | -€16 | |
| Financial charges | 65/66B | €24 | €7,953 | +€7,929 | +33036.9% |
| Recurring financial charges | 65 | €24 | €7,953 | +€7,929 | +33036.9% |
| Profit (loss) for the period before taxes | 9903 | -€6,272 | €7,602 | +€13,875 | |
| Profit (loss) for the period | 9904 | -€6,272 | €7,602 | +€13,875 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,272 | €7,602 | +€13,875 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.