Edero: 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
Edero
NACE 64.210, Activities of holding companies
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€74,725
2024 · €173,023-€98,299
Equity
€1.5m
2024 · €1.4m+€74,725
Cash
€172,728
2024 · €2,628+€170,101
Balance sheet total
€25.9m
2024 · €20.3m+€5.6m
Largest movements
Assets
- Receivables within one year +€4.9m
up €4.9m (+42.1%), from €11.7m to €16.6m
of which Other amounts receivable: +€4.9m
- Tangible fixed assets +€527,186
up €527,186 (+18.0%), from €2.9m to €3.5m
of which Land and buildings: +€516,262
Equity and liabilities
- Other debts +€6.4m
up €6.4m (+93.6%), from €6.9m to €13.3m
- Debts after one year -€1.8m
down €1.8m (-16.8%), from €10.5m to €8.7m
- Current portion of long-term debt +€776,144
new in 2025: €776,144
Income statement
- Financial charges +€370,618
up €370,618 (+52.1%), from €710,717 to €1.1m
- Financial income +€178,362
up €178,362 (+16.8%), from €1.1m to €1.2m
- Gross operating margin +€125,026
up €125,026, from -€14,429 to €110,597
- Staff costs +€18,395
up €18,395 (+21.2%), from €86,770 to €105,165
- Depreciation +€5,811
up €5,811 (+6.8%), from €86,080 to €91,891
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
€173,023
Gross operating margin
+€125,026
Staff costs
-€18,395
Depreciation
-€5,811
Other operating charges
-€1,631
Financial income
+€178,362
Financial charges
-€370,618
Taxes
-€5,231
Result 2025
€74,725
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
+€1.8m
Investment
-€619,077
Financing
-€979,479
Cash 2024
€2,628
From operations (derived)
+€1.8m
Net result for the year
+€74,725
Depreciation
+€91,891
Receivables within one year
-€4.9m
Smaller working-capital items
-€17,160
Trade debts
+€92,045
Other debts
+€6.4m
Investment (derived)
-€619,077
Investment in fixed assets (net)
-€619,077
Financing
-€979,479
Debts after one year
-€1.8m
Current portion of long-term debt
+€776,144
Cash 2025
€172,728
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €20,250,482 | €25,862,790 | +€5.6m | +27.7% |
| Fixed assets | 21/28 | €8,560,194 | €9,087,380 | +€527,186 | +6.2% |
| Tangible fixed assets | 22/27 | €2,928,894 | €3,456,080 | +€527,186 | +18.0% |
| Land and buildings | 22 | €2,912,707 | €3,428,969 | +€516,262 | +17.7% |
| Plant, machinery and equipment | 23 | €1,557 | €1,338 | -€220 | -14.1% |
| Furniture and vehicles | 24 | €14,630 | €25,774 | +€11,144 | +76.2% |
| Financial fixed assets | 28 | €5,631,300 | €5,631,300 | = | 0.0% |
| Current assets | 29/58 | €11,690,288 | €16,775,411 | +€5.1m | +43.5% |
| Amounts receivable within one year | 40/41 | €11,686,289 | €16,601,284 | +€4.9m | +42.1% |
| Trade receivables | 40 | €171,669 | €186,453 | +€14,784 | +8.6% |
| Other amounts receivable | 41 | €11,514,620 | €16,414,832 | +€4.9m | +42.6% |
| Cash at bank and in hand | 54/58 | €2,628 | €172,728 | +€170,101 | +6473.9% |
| Deferred charges and accrued income | 490/1 | €1,371 | €1,398 | +€27 | +2.0% |
| Total equity and liabilities | 10/49 | €20,250,482 | €25,862,790 | +€5.6m | +27.7% |
| Equity | 10/15 | €1,435,367 | €1,510,092 | +€74,725 | +5.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,415,367 | €1,490,092 | +€74,725 | +5.3% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,086,477 | €1,051,276 | -€35,201 | -3.2% |
| Distributable reserves | 133 | €326,890 | €436,816 | +€109,926 | +33.6% |
| Provisions and deferred taxes | 16 | €455,778 | €440,952 | -€14,826 | -3.3% |
| Deferred taxes | 168 | €455,778 | €440,952 | -€14,826 | -3.3% |
| Amounts payable | 17/49 | €18,359,337 | €23,911,747 | +€5.6m | +30.2% |
| Amounts payable after more than one year | 17 | €10,450,000 | €8,694,377 | -€1.8m | -16.8% |
| Financial debts | 170/4 | €10,450,000 | €8,694,377 | -€1.8m | -16.8% |
| Amounts payable within one year | 42/48 | €7,858,035 | €15,178,178 | +€7.3m | +93.2% |
| Current portion of amounts payable after more than one year | 42 | - | €776,144 | +€776,144 | |
| Financial debts | 43 | €950,000 | €950,000 | = | 0.0% |
| Credit institutions | 430/8 | €950,000 | €950,000 | = | 0.0% |
| Trade debts | 44 | €16,804 | €108,849 | +€92,045 | +547.8% |
| Suppliers | 440/4 | €16,804 | €108,849 | +€92,045 | +547.8% |
| Taxes, remuneration and social security | 45 | €9,352 | €19,155 | +€9,803 | +104.8% |
| Taxes | 450/3 | €265 | €8,437 | +€8,172 | +3079.0% |
| Remuneration and social security | 454/9 | €9,086 | €10,718 | +€1,631 | +18.0% |
| Other amounts payable | 47/48 | €6,881,879 | €13,324,030 | +€6.4m | +93.6% |
| Accrued charges and deferred income | 492/3 | €51,302 | €39,192 | -€12,110 | -23.6% |
| Remuneration, social security and pensions | 62 | €86,770 | €105,165 | +€18,395 | +21.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,080 | €91,891 | +€5,811 | +6.8% |
| Other operating charges | 640/8 | €2,174 | €3,805 | +€1,631 | +75.0% |
| Gross operating margin | 9900 | -€14,429 | €110,597 | +€125,026 | |
| Operating profit (loss) | 9901 | -€189,453 | -€90,264 | +€99,189 | +52.4% |
| Financial income | 75/76B | €1,058,634 | €1,236,996 | +€178,362 | +16.8% |
| Recurring financial income | 75 | €1,058,634 | €1,236,996 | +€178,362 | +16.8% |
| Financial charges | 65/66B | €710,717 | €1,081,335 | +€370,618 | +52.1% |
| Recurring financial charges | 65 | €710,717 | €1,081,335 | +€370,618 | +52.1% |
| Profit (loss) for the period before taxes | 9903 | €158,464 | €65,397 | -€93,067 | -58.7% |
| Transfer from deferred taxes | 780 | €14,826 | €14,826 | = | 0.0% |
| Income taxes | 67/77 | €267 | €5,498 | +€5,231 | +1961.2% |
| Profit (loss) for the period | 9904 | €173,023 | €74,725 | -€98,299 | -56.8% |
| Transfer from tax-exempt reserves | 789 | €35,201 | €35,201 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €208,224 | €109,926 | -€98,299 | -47.2% |
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 6 October 2026 via checked.be.