EARTH: 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.
What changed
EARTH
NACE 43.211, General electrical installation work
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€144,222
2024 · -€2.9m+€3.0m
Equity
€2.4m
2024 · €2.3m+€144,222
Cash
€1.1m
2024 · €2.0m-€988,473
Balance sheet total
€39.2m
2024 · €37.5m+€1.7m
Largest movements
Assets
- Receivables within one year +€1.2m
up €1.2m (+6.8%), from €17.0m to €18.1m
of which Other amounts receivable: +€1.3m
- Cash -€988,473
down €988,473 (-48.4%), from €2.0m to €1.1m
mainly Other debts (-€7.4m) and Receivables within one year (-€1.2m)
- Stocks and contracts +€907,002
up €907,002 (+5.1%), from €17.6m to €18.5m
of which Stocks: +€1.8m
- Deferred charges and accrued income +€678,654
up €678,654 (+842.2%), from €80,577 to €759,231
Equity and liabilities
- Other debts -€7.4m
down €7.4m (-100.0%), from €7.4m to €1,246
- Advances received +€4.5m
up €4.5m (+118.3%), from €3.8m to €8.3m
- Short-term financial debts +€3.7m
up €3.7m (+25.3%), from €14.7m to €18.5m
- Trade debts +€1.1m
up €1.1m (+16.3%), from €6.5m to €7.5m
Income statement
- Turnover +€11.4m
up €11.4m (+33.5%), from €34.0m to €45.4m
- Goods and materials +€8.2m
up €8.2m (+27.2%), from €30.3m to €38.5m
of which Purchases: +€8.3m
- Write-downs -€4.6m
down €4.6m (-95.0%), from €4.8m to €242,364
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.
Result 2024
-€2.9m
Turnover
+€11.4m
Other operating income
+€413,819
Goods and materials
-€8.2m
Services and other goods
-€320,730
Staff costs
+€155,347
Depreciation
-€52,339
Write-downs
+€4.6m
Provisions
-€65,000
Other operating charges
-€267,055
Other operating items
-€4.5m
Financial income
+€63,503
Financial charges
-€137,234
Taxes
-€1,752
Result 2025
€144,222
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.
From operations
-€4.1m
Investment
-€178,869
Financing
+€3.3m
Cash 2024
€2.0m
From operations (derived)
-€4.1m
Net result for the year
+€144,222
Depreciation
+€231,424
Stocks and contracts
-€907,002
Receivables within one year
-€1.2m
Deferred charges and accrued income
-€678,654
Provisions
+€65,000
Trade debts
+€1.1m
Tax, wage and social debts
-€13,277
Advances received
+€4.5m
Other debts
-€7.4m
Accrued charges and deferred income
+€72,745
Investment (derived)
-€178,869
Investment in fixed assets (net)
-€178,869
Financing
+€3.3m
Debts after one year
-€240,105
Current portion of long-term debt
-€193,816
Short-term financial debts
+€3.7m
Cash 2025
€1.1m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €37,454,923 | €39,160,389 | +€1.7m | +4.6% |
| Formation expenses | 20 | €141,117 | €110,870 | -€30,247 | -21.4% |
| Fixed assets | 21/28 | €608,754 | €586,445 | -€22,309 | -3.7% |
| Intangible fixed assets | 21 | €457,620 | €459,389 | +€1,769 | +0.4% |
| Tangible fixed assets | 22/27 | €143,887 | €92,009 | -€51,878 | -36.1% |
| Plant, machinery and equipment | 23 | €38,530 | €29,122 | -€9,408 | -24.4% |
| Furniture and vehicles | 24 | €93,696 | €51,840 | -€41,856 | -44.7% |
| Other tangible fixed assets | 26 | €11,661 | €11,047 | -€614 | -5.3% |
| Financial fixed assets | 28 | €7,246 | €35,046 | +€27,800 | +383.7% |
| Other financial fixed assets | 284/8 | €7,246 | €35,046 | +€27,800 | +383.7% |
| Amounts receivable and cash guarantees | 285/8 | €7,246 | €35,046 | +€27,800 | +383.7% |
| Current assets | 29/58 | €36,705,053 | €38,463,074 | +€1.8m | +4.8% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Trade receivables | 290 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €17,625,564 | €18,532,566 | +€907,002 | +5.1% |
| Stocks | 30/36 | €6,422,720 | €8,226,302 | +€1.8m | +28.1% |
| Goods purchased for resale | 34 | €6,016,360 | €7,182,508 | +€1.2m | +19.4% |
| Advance payments | 36 | €406,360 | €1,043,795 | +€637,435 | +156.9% |
| Contracts in progress | 37 | €11,202,844 | €10,306,264 | -€896,580 | -8.0% |
| Amounts receivable within one year | 40/41 | €16,957,027 | €18,117,864 | +€1.2m | +6.8% |
| Trade receivables | 40 | €10,741,687 | €10,636,026 | -€105,661 | -1.0% |
| Other amounts receivable | 41 | €6,215,339 | €7,481,838 | +€1.3m | +20.4% |
| Cash at bank and in hand | 54/58 | €2,041,886 | €1,053,413 | -€988,473 | -48.4% |
| Deferred charges and accrued income | 490/1 | €80,577 | €759,231 | +€678,654 | +842.2% |
| Total equity and liabilities | 10/49 | €37,454,923 | €39,160,389 | +€1.7m | +4.6% |
| Equity | 10/15 | €2,303,806 | €2,448,028 | +€144,222 | +6.3% |
| Contributions | 10/11 | €375,000 | €375,000 | = | 0.0% |
| Reserves | 13 | €1,928,806 | €2,073,028 | +€144,222 | +7.5% |
| Distributable reserves | 133 | €1,928,806 | €2,073,028 | +€144,222 | +7.5% |
| Provisions and deferred taxes | 16 | - | €65,000 | +€65,000 | |
| Provisions for liabilities and charges | 160/5 | - | €65,000 | +€65,000 | |
| Environmental obligations | 163 | - | €65,000 | +€65,000 | |
| Amounts payable | 17/49 | €35,151,117 | €36,647,361 | +€1.5m | +4.3% |
| Amounts payable after more than one year | 17 | €1,458,748 | €1,218,643 | -€240,105 | -16.5% |
| Financial debts | 170/4 | €1,458,748 | €1,218,643 | -€240,105 | -16.5% |
| Credit institutions | 173 | €1,458,748 | €1,218,643 | -€240,105 | -16.5% |
| Amounts payable within one year | 42/48 | €33,590,562 | €35,254,165 | +€1.7m | +5.0% |
| Current portion of amounts payable after more than one year | 42 | €498,339 | €304,523 | -€193,816 | -38.9% |
| Financial debts | 43 | €14,726,918 | €18,452,829 | +€3.7m | +25.3% |
| Credit institutions | 430/8 | €14,726,918 | €18,452,829 | +€3.7m | +25.3% |
| Trade debts | 44 | €6,487,159 | €7,541,766 | +€1.1m | +16.3% |
| Suppliers | 440/4 | €6,487,159 | €7,541,766 | +€1.1m | +16.3% |
| Advances received on contracts in progress | 46 | €3,805,446 | €8,307,195 | +€4.5m | +118.3% |
| Taxes, remuneration and social security | 45 | €659,882 | €646,605 | -€13,277 | -2.0% |
| Taxes | 450/3 | €108,668 | €100,185 | -€8,482 | -7.8% |
| Remuneration and social security | 454/9 | €551,214 | €546,420 | -€4,795 | -0.9% |
| Other amounts payable | 47/48 | €7,412,818 | €1,246 | -€7.4m | -100.0% |
| Accrued charges and deferred income | 492/3 | €101,807 | €174,553 | +€72,745 | +71.5% |
| Operating income | 70/76A | €41,214,077 | €53,144,261 | +€11.9m | +28.9% |
| Turnover | 70 | €34,012,390 | €45,406,030 | +€11.4m | +33.5% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €6,964,335 | €1,343,988 | -€5.6m | -80.7% |
| Other operating income | 74 | €237,352 | €651,171 | +€413,819 | +174.3% |
| Non-recurring operating income | 76A | - | €5,743,072 | +€5.7m | |
| Operating charges | 60/66A | €43,463,339 | €52,289,984 | +€8.8m | +20.3% |
| Goods for resale, raw materials and consumables | 60 | €30,254,939 | €38,485,669 | +€8.2m | +27.2% |
| Purchases | 600/8 | €31,350,354 | €39,651,816 | +€8.3m | +26.5% |
| Change in stocks: decrease (increase) | 609 | -€1,095,414 | -€1,166,147 | -€70,733 | -6.5% |
| Services and other goods | 61 | €3,670,801 | €3,991,531 | +€320,730 | +8.7% |
| Remuneration, social security and pensions | 62 | €4,440,621 | €4,285,274 | -€155,347 | -3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €179,085 | €231,424 | +€52,339 | +29.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,820,361 | €242,364 | -€4.6m | -95.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €65,000 | +€65,000 | |
| Other operating charges | 640/8 | €248,765 | €515,821 | +€267,055 | +107.4% |
| Operating charges capitalised as restructuring costs | 649 | -€151,233 | €0 | +€151,233 | |
| Non-recurring operating charges | 66A | - | €4,472,902 | +€4.5m | |
| Operating profit (loss) | 9901 | -€2,249,262 | €854,277 | +€3.1m | |
| Financial income | 75/76B | €125,949 | €189,451 | +€63,503 | +50.4% |
| Recurring financial income | 75 | €125,949 | €189,451 | +€63,503 | +50.4% |
| Income from current assets | 751 | €111,772 | €184,372 | +€72,600 | +65.0% |
| Other financial income | 752/9 | €14,176 | €5,079 | -€9,097 | -64.2% |
| Financial charges | 65/66B | €757,538 | €894,772 | +€137,234 | +18.1% |
| Recurring financial charges | 65 | €757,538 | €894,772 | +€137,234 | +18.1% |
| Debt charges | 650 | €756,626 | €890,495 | +€133,869 | +17.7% |
| Other financial charges | 652/9 | €912 | €4,277 | +€3,365 | +368.9% |
| Profit (loss) for the period before taxes | 9903 | -€2,880,852 | €148,956 | +€3.0m | |
| Income taxes | 67/77 | €2,982 | €4,734 | +€1,752 | +58.8% |
| Taxes | 670/3 | €5,495 | €4,734 | -€761 | -13.8% |
| Tax adjustments and reversals of tax provisions | 77 | €2,513 | €0 | -€2,513 | -100.0% |
| Profit (loss) for the period | 9904 | -€2,883,834 | €144,222 | +€3.0m | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,883,834 | €144,222 | +€3.0m |
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 4 October 2026 via checked.be.