E.R.L.: 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.L.
Largest movements
- Tangible fixed assets -€19,762
down €19,762 (-26.7%), from €73,932 to €54,169
of which Plant, machinery and equipment: -€20,877
- Cash +€14,929
up €14,929 (+200%), from €7,466 to €22,395
mainly Depreciation (+€21,530) and Tax, wage and social debts (+€4,745)
- Receivables within one year -€1,448
down €1,448 (-4.3%), from €33,491 to €32,042
of which Other amounts receivable: -€1,527
- Trade debts -€8,804
down €8,804 (-40.1%), from €21,964 to €13,160
- Tax, wage and social debts +€4,745
up €4,745 (+159%), from €2,976 to €7,722
of which Remuneration and social security: +€2,618
- Profit (loss) carried forward -€4,441
down €4,441 (-14.5%), from -€30,646 to -€35,087
- Other debts +€2,436
up €2,436 (+27.0%), from €9,036 to €11,472
- Gross operating margin +€14,309
up €14,309 (+29.5%), from €48,499 to €62,808
- Staff costs +€3,750
up €3,750 (+9.2%), from €40,764 to €44,514
- Depreciation -€1,272
down €1,272 (-5.6%), from €22,801 to €21,530
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 | €120,330 | €114,266 | -€6,064 | -5.0% |
| Fixed assets | 21/28 | €73,932 | €54,169 | -€19,762 | -26.7% |
| Tangible fixed assets | 22/27 | €73,932 | €54,169 | -€19,762 | -26.7% |
| Plant, machinery and equipment | 23 | €73,591 | €52,714 | -€20,877 | -28.4% |
| Furniture and vehicles | 24 | €340 | €1,455 | +€1,115 | +328% |
| Current assets | 29/58 | €46,398 | €60,097 | +€13,699 | +29.5% |
| Stocks and contracts in progress | 3 | €5,339 | €5,562 | +€223 | +4.2% |
| Stocks | 30/36 | €5,339 | €5,562 | +€223 | +4.2% |
| Amounts receivable within one year | 40/41 | €33,491 | €32,042 | -€1,448 | -4.3% |
| Trade receivables | 40 | €31,515 | €31,594 | +€79 | +0.2% |
| Other amounts receivable | 41 | €1,976 | €449 | -€1,527 | -77.3% |
| Cash at bank and in hand | 54/58 | €7,466 | €22,395 | +€14,929 | +200% |
| Deferred charges and accrued income | 490/1 | €102 | €97 | -€5 | -5.1% |
| Total equity and liabilities | 10/49 | €120,330 | €114,266 | -€6,064 | -5.0% |
| Equity | 10/15 | -€8,646 | -€13,087 | -€4,441 | -51.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€30,646 | -€35,087 | -€4,441 | -14.5% |
| Amounts payable | 17/49 | €128,976 | €127,353 | -€1,623 | -1.3% |
| Amounts payable after more than one year | 17 | €95,000 | €95,000 | = | 0.0% |
| Financial debts | 170/4 | €95,000 | €95,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €33,976 | €32,353 | -€1,623 | -4.8% |
| Trade debts | 44 | €21,964 | €13,160 | -€8,804 | -40.1% |
| Suppliers | 440/4 | €21,964 | €13,160 | -€8,804 | -40.1% |
| Taxes, remuneration and social security | 45 | €2,976 | €7,722 | +€4,745 | +159% |
| Taxes | 450/3 | €3 | €2,130 | +€2,127 | +64,848% |
| Remuneration and social security | 454/9 | €2,973 | €5,592 | +€2,618 | +88.1% |
| Other amounts payable | 47/48 | €9,036 | €11,472 | +€2,436 | +27.0% |
| Remuneration, social security and pensions | 62 | €40,764 | €44,514 | +€3,750 | +9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,801 | €21,530 | -€1,272 | -5.6% |
| Other operating charges | 640/8 | €899 | €928 | +€30 | +3.3% |
| Gross operating margin | 9900 | €48,499 | €62,808 | +€14,309 | +29.5% |
| Operating profit (loss) | 9901 | -€15,966 | -€4,164 | +€11,802 | +73.9% |
| Financial charges | 65/66B | €95 | €69 | -€27 | -27.8% |
| Recurring financial charges | 65 | €95 | €69 | -€27 | -27.8% |
| Profit (loss) for the period before taxes | 9903 | -€16,061 | -€4,233 | +€11,828 | +73.6% |
| Income taxes | 67/77 | €198 | €208 | +€10 | +5.0% |
| Profit (loss) for the period | 9904 | -€16,259 | -€4,441 | +€11,818 | +72.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,259 | -€4,441 | +€11,818 | +72.7% |
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 13 October 2026 via checked.be.