EDERS: 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
EDERS
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€406,834
2024 · €273,591+€133,243
Equity
€6.7m
2024 · €6.3m+€406,834
Cash
€359,894
2024 · €176,187+€183,707
Balance sheet total
€14.7m
2024 · €13.2m+€1.5m
Largest movements
Assets
- Tangible fixed assets +€1.3m
up €1.3m (+14.7%), from €9.1m to €10.4m
of which Assets under construction and advance payments: +€1.8m
- Cash +€183,707
up €183,707 (+104.3%), from €176,187 to €359,894
mainly Trade debts (+€789,757) and Depreciation (+€575,035)
Equity and liabilities
- Trade debts +€789,757
up €789,757 (+1933.2%), from €40,852 to €830,610
- Other debts +€450,830
up €450,830 (+12.1%), from €3.7m to €4.2m
- Profit (loss) carried forward +€410,139
up €410,139 (+11.1%), from €3.7m to €4.1m
- Debts after one year -€150,237
down €150,237 (-6.0%), from €2.5m to €2.4m
Income statement
- Provisions -€151,307
down €151,307, from €121,346 to -€29,961
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
€273,591
Depreciation
+€31,768
Provisions
+€151,307
Other operating charges
+€9,890
Other operating items
+€45,875
Financial income
+€2,639
Financial charges
-€55,582
Taxes
-€50,888
Deferred taxes and other
-€1,765
Result 2025
€406,834
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
+€2.2m
Investment
-€1.9m
Financing
-€144,291
Cash 2024
€176,187
From operations (derived)
+€2.2m
Net result for the year
+€406,834
Depreciation
+€575,035
Receivables within one year
+€39,151
Provisions
-€56,261
Trade debts
+€789,757
Tax, wage and social debts
+€34,026
Other debts
+€450,830
Accrued charges and deferred income
+€11
Investment (derived)
-€1.9m
Investment in fixed assets (net)
-€1.9m
Financing
-€144,291
Debts after one year
-€150,237
Current portion of long-term debt
+€5,947
Cash 2025
€359,894
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,236,855 | €14,717,761 | +€1.5m | +11.2% |
| Fixed assets | 21/28 | €12,912,683 | €14,249,033 | +€1.3m | +10.3% |
| Tangible fixed assets | 22/27 | €9,111,183 | €10,447,533 | +€1.3m | +14.7% |
| Land and buildings | 22 | €7,213,543 | €6,737,611 | -€475,932 | -6.6% |
| Assets under construction and advance payments | 27 | €1,897,640 | €3,709,923 | +€1.8m | +95.5% |
| Financial fixed assets | 28 | €3,801,500 | €3,801,500 | = | 0.0% |
| Affiliated companies | 280/1 | €3,800,000 | €3,800,000 | = | 0.0% |
| Participating interests | 280 | €3,800,000 | €3,800,000 | = | 0.0% |
| Other financial fixed assets | 284/8 | €1,500 | €1,500 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €324,172 | €468,728 | +€144,556 | +44.6% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €147,985 | €108,834 | -€39,151 | -26.5% |
| Trade receivables | 40 | €111 | €111 | = | 0.0% |
| Other amounts receivable | 41 | €147,873 | €108,723 | -€39,151 | -26.5% |
| Cash at bank and in hand | 54/58 | €176,187 | €359,894 | +€183,707 | +104.3% |
| Total equity and liabilities | 10/49 | €13,236,855 | €14,717,761 | +€1.5m | +11.2% |
| Equity | 10/15 | €6,280,273 | €6,687,107 | +€406,834 | +6.5% |
| Contributions | 10/11 | €1,706,713 | €1,706,713 | = | 0.0% |
| Capital | 10 | €1,706,713 | €1,706,713 | = | 0.0% |
| Issued capital | 100 | €1,706,713 | €1,706,713 | = | 0.0% |
| Reserves | 13 | €863,416 | €860,111 | -€3,305 | -0.4% |
| Non-distributable reserves | 130/1 | €55,441 | €78,511 | +€23,070 | +41.6% |
| Legal reserve | 130 | €55,441 | €78,511 | +€23,070 | +41.6% |
| Tax-exempt reserves | 132 | €325,160 | €270,588 | -€54,571 | -16.8% |
| Distributable reserves | 133 | €482,816 | €511,012 | +€28,196 | +5.8% |
| Profit (loss) carried forward | 14 | €3,710,143 | €4,120,282 | +€410,139 | +11.1% |
| Provisions and deferred taxes | 16 | €492,724 | €436,464 | -€56,261 | -11.4% |
| Provisions for liabilities and charges | 160/5 | €359,530 | €329,569 | -€29,961 | -8.3% |
| Major repairs and maintenance | 162 | €359,530 | €329,569 | -€29,961 | -8.3% |
| Deferred taxes | 168 | €133,194 | €106,894 | -€26,300 | -19.7% |
| Amounts payable | 17/49 | €6,463,857 | €7,594,191 | +€1.1m | +17.5% |
| Amounts payable after more than one year | 17 | €2,517,130 | €2,366,892 | -€150,237 | -6.0% |
| Financial debts | 170/4 | €2,517,130 | €2,366,892 | -€150,237 | -6.0% |
| Credit institutions | 173 | €2,517,130 | €2,366,892 | -€150,237 | -6.0% |
| Amounts payable within one year | 42/48 | €3,945,798 | €5,226,357 | +€1.3m | +32.5% |
| Current portion of amounts payable after more than one year | 42 | €144,291 | €150,237 | +€5,947 | +4.1% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €40,852 | €830,610 | +€789,757 | +1933.2% |
| Suppliers | 440/4 | €40,852 | €830,610 | +€789,757 | +1933.2% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €33,974 | €68,000 | +€34,026 | +100.2% |
| Taxes | 450/3 | €33,974 | €68,000 | +€34,026 | +100.2% |
| Other amounts payable | 47/48 | €3,726,681 | €4,177,510 | +€450,830 | +12.1% |
| Accrued charges and deferred income | 492/3 | €930 | €941 | +€11 | +1.2% |
| Operating income | 70/76A | €1,355,912 | €1,396,840 | +€40,928 | +3.0% |
| Other operating income | 74 | €1,355,912 | €1,396,128 | +€40,217 | +3.0% |
| Non-recurring operating income | 76A | - | €711 | +€711 | |
| Operating charges | 60/66A | €857,888 | €659,976 | -€197,912 | -23.1% |
| Services and other goods | 61 | €101,501 | €96,554 | -€4,948 | -4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €606,803 | €575,035 | -€31,768 | -5.2% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €121,346 | -€29,961 | -€151,307 | |
| Other operating charges | 640/8 | €28,238 | €18,348 | -€9,890 | -35.0% |
| Operating profit (loss) | 9901 | €498,024 | €736,864 | +€238,840 | +48.0% |
| Financial income | 75/76B | €0 | €2,639 | +€2,639 | |
| Recurring financial income | 75 | €0 | €2,639 | +€2,639 | |
| Income from current assets | 751 | €0 | €2,639 | +€2,639 | |
| Financial charges | 65/66B | €150,524 | €206,106 | +€55,582 | +36.9% |
| Recurring financial charges | 65 | €150,524 | €206,106 | +€55,582 | +36.9% |
| Debt charges | 650 | €149,330 | €205,055 | +€55,725 | +37.3% |
| Other financial charges | 652/9 | €1,194 | €1,051 | -€142 | -11.9% |
| Profit (loss) for the period before taxes | 9903 | €347,500 | €533,396 | +€185,896 | +53.5% |
| Transfer from deferred taxes | 780 | €28,065 | €26,300 | -€1,765 | -6.3% |
| Income taxes | 67/77 | €101,974 | €152,862 | +€50,888 | +49.9% |
| Taxes | 670/3 | €102,000 | €153,113 | +€51,113 | +50.1% |
| Tax adjustments and reversals of tax provisions | 77 | €26 | €251 | +€225 | +857.7% |
| Profit (loss) for the period | 9904 | €273,591 | €406,834 | +€133,243 | +48.7% |
| Transfer from tax-exempt reserves | 789 | €164,242 | €54,571 | -€109,671 | -66.8% |
| Profit (loss) for the period to be appropriated | 9905 | €437,833 | €461,405 | +€23,572 | +5.4% |
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 30 September 2026 via checked.be.