E & R Group: 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 Group
Largest movements
- Cash -€18,285
down €18,285 (-97.7%), from €18,712 to €427
mainly Investment in fixed assets (net) (-€25,915) and Other debts (-€22,233)
- Tangible fixed assets +€4,491
up €4,491 (+7.0%), from €64,070 to €68,561
of which Plant, machinery and equipment: +€8,309
- Financial fixed assets -€4,350
no longer reported in 2025 (was €4,350)
- Receivables within one year -€3,356
down €3,356 (-14.7%), from €22,760 to €19,404
of which Trade receivables: -€7,597
- Deferred charges and accrued income -€1,450
no longer reported in 2025 (was €1,450)
- Other debts -€22,233
down €22,233 (-39.3%), from €56,574 to €34,341
- Profit (loss) carried forward +€12,392
up €12,392 (+51.1%), from €24,250 to €36,642
- Tax, wage and social debts -€11,819
down €11,819 (-58.0%), from €20,389 to €8,570
- Trade debts -€1,290
down €1,290 (-32.8%), from €3,930 to €2,639
- Staff costs -€35,808
down €35,808 (-85.3%), from €41,965 to €6,157
- Gross operating margin -€33,221
down €33,221 (-35.0%), from €94,882 to €61,660
- Write-downs +€9,360
new in 2025: €9,360
- Financial charges -€8,307
down €8,307 (-95.0%), from €8,746 to €439
of which Non-recurring financial charges: -€5,504
- Depreciation +€6,594
up €6,594 (+34.4%), from €19,179 to €25,774
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 | €111,342 | €88,392 | -€22,950 | -20.6% |
| Fixed assets | 21/28 | €68,420 | €68,561 | +€141 | +0.2% |
| Tangible fixed assets | 22/27 | €64,070 | €68,561 | +€4,491 | +7.0% |
| Plant, machinery and equipment | 23 | €20,566 | €28,875 | +€8,309 | +40.4% |
| Furniture and vehicles | 24 | €43,504 | €39,686 | -€3,818 | -8.8% |
| Financial fixed assets | 28 | €4,350 | - | -€4,350 | |
| Current assets | 29/58 | €42,922 | €19,831 | -€23,091 | -53.8% |
| Amounts receivable within one year | 40/41 | €22,760 | €19,404 | -€3,356 | -14.7% |
| Trade receivables | 40 | €22,760 | €15,163 | -€7,597 | -33.4% |
| Other amounts receivable | 41 | - | €4,241 | +€4,241 | |
| Cash at bank and in hand | 54/58 | €18,712 | €427 | -€18,285 | -97.7% |
| Deferred charges and accrued income | 490/1 | €1,450 | - | -€1,450 | |
| Total equity and liabilities | 10/49 | €111,342 | €88,392 | -€22,950 | -20.6% |
| Equity | 10/15 | €30,450 | €42,842 | +€12,392 | +40.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | - | €6,200 | +€6,200 | |
| Issued capital | 100 | - | €6,200 | +€6,200 | |
| Profit (loss) carried forward | 14 | €24,250 | €36,642 | +€12,392 | +51.1% |
| Amounts payable | 17/49 | €80,893 | €45,550 | -€35,342 | -43.7% |
| Amounts payable within one year | 42/48 | €80,893 | €45,550 | -€35,342 | -43.7% |
| Trade debts | 44 | €3,930 | €2,639 | -€1,290 | -32.8% |
| Suppliers | 440/4 | €3,930 | €2,639 | -€1,290 | -32.8% |
| Taxes, remuneration and social security | 45 | €20,389 | €8,570 | -€11,819 | -58.0% |
| Taxes | 450/3 | €20,389 | €8,570 | -€11,819 | -58.0% |
| Other amounts payable | 47/48 | €56,574 | €34,341 | -€22,233 | -39.3% |
| Remuneration, social security and pensions | 62 | €41,965 | €6,157 | -€35,808 | -85.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,179 | €25,774 | +€6,594 | +34.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €9,360 | +€9,360 | |
| Other operating charges | 640/8 | €1,677 | €3,817 | +€2,140 | +127.6% |
| Gross operating margin | 9900 | €94,882 | €61,660 | -€33,221 | -35.0% |
| Operating profit (loss) | 9901 | €32,060 | €16,553 | -€15,508 | -48.4% |
| Financial charges | 65/66B | €8,746 | €439 | -€8,307 | -95.0% |
| Recurring financial charges | 65 | €3,242 | €439 | -€2,803 | -86.5% |
| Non-recurring financial charges | 66B | €5,504 | - | -€5,504 | |
| Profit (loss) for the period before taxes | 9903 | €23,314 | €16,114 | -€7,200 | -30.9% |
| Income taxes | 67/77 | €4,853 | €3,722 | -€1,131 | -23.3% |
| Profit (loss) for the period | 9904 | €18,461 | €12,392 | -€6,069 | -32.9% |
| Profit (loss) for the period to be appropriated | 9905 | €18,461 | €12,392 | -€6,069 | -32.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.