EERDEKENS: 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.
EERDEKENS
Largest movements
- Cash +€42,516
up €42,516 (+9.4%), from €450,654 to €493,170
mainly Net result for the year (+€94,612) and Debts after one year (+€42,958)
- Receivables within one year -€39,764
down €39,764 (-23.0%), from €172,981 to €133,217
of which Trade receivables: -€33,880
- Tangible fixed assets +€36,240
up €36,240 (+58.4%), from €62,016 to €98,256
of which Leasing and similar rights: +€54,260
- Trade debts -€61,523
down €61,523 (-66.8%), from €92,082 to €30,560
- Debts after one year +€42,958
new in 2025: €42,958
- Tax, wage and social debts +€40,762
up €40,762 (+89.7%), from €45,421 to €86,183
of which Taxes: +€38,518
- Reserves +€11,472
up €11,472 (+2.2%), from €515,445 to €526,917
- Current portion of long-term debt +€11,090
new in 2025: €11,090
- Gross operating margin +€64,463
up €64,463 (+23.4%), from €275,837 to €340,299
- Staff costs +€34,216
up €34,216 (+24.0%), from €142,330 to €176,546
- Taxes +€6,616
up €6,616 (+20.3%), from €32,657 to €39,273
- Depreciation +€5,145
up €5,145 (+26.0%), from €19,809 to €24,954
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 | €688,547 | €730,141 | +€41,594 | +6.0% |
| Fixed assets | 21/28 | €62,411 | €98,651 | +€36,240 | +58.1% |
| Tangible fixed assets | 22/27 | €62,016 | €98,256 | +€36,240 | +58.4% |
| Plant, machinery and equipment | 23 | €38,846 | €28,044 | -€10,803 | -27.8% |
| Furniture and vehicles | 24 | €23,170 | €15,952 | -€7,217 | -31.2% |
| Leasing and similar rights | 25 | - | €54,260 | +€54,260 | |
| Financial fixed assets | 28 | €395 | €395 | = | 0.0% |
| Current assets | 29/58 | €626,135 | €631,489 | +€5,354 | +0.9% |
| Stocks and contracts in progress | 3 | €2,500 | €2,400 | -€100 | -4.0% |
| Stocks | 30/36 | €2,500 | €2,400 | -€100 | -4.0% |
| Amounts receivable within one year | 40/41 | €172,981 | €133,217 | -€39,764 | -23.0% |
| Trade receivables | 40 | €161,029 | €127,149 | -€33,880 | -21.0% |
| Other amounts receivable | 41 | €11,953 | €6,068 | -€5,884 | -49.2% |
| Cash at bank and in hand | 54/58 | €450,654 | €493,170 | +€42,516 | +9.4% |
| Deferred charges and accrued income | 490/1 | - | €2,701 | +€2,701 | |
| Total equity and liabilities | 10/49 | €688,547 | €730,141 | +€41,594 | +6.0% |
| Equity | 10/15 | €527,845 | €539,317 | +€11,472 | +2.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €515,445 | €526,917 | +€11,472 | +2.2% |
| Distributable reserves | 133 | €515,445 | €526,917 | +€11,472 | +2.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €160,702 | €190,824 | +€30,122 | +18.7% |
| Amounts payable after more than one year | 17 | - | €42,958 | +€42,958 | |
| Financial debts | 170/4 | - | €42,958 | +€42,958 | |
| Amounts payable within one year | 42/48 | €160,639 | €147,866 | -€12,773 | -8.0% |
| Current portion of amounts payable after more than one year | 42 | - | €11,090 | +€11,090 | |
| Trade debts | 44 | €92,082 | €30,560 | -€61,523 | -66.8% |
| Suppliers | 440/4 | €92,082 | €30,560 | -€61,523 | -66.8% |
| Taxes, remuneration and social security | 45 | €45,421 | €86,183 | +€40,762 | +89.7% |
| Taxes | 450/3 | €34,594 | €73,112 | +€38,518 | +111% |
| Remuneration and social security | 454/9 | €10,827 | €13,071 | +€2,244 | +20.7% |
| Other amounts payable | 47/48 | €23,136 | €20,033 | -€3,103 | -13.4% |
| Accrued charges and deferred income | 492/3 | €63 | €0 | -€63 | -100% |
| Non-recurring operating income | 76A | €1,000 | €0 | -€1,000 | -100% |
| Remuneration, social security and pensions | 62 | €142,330 | €176,546 | +€34,216 | +24.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,809 | €24,954 | +€5,145 | +26.0% |
| Other operating charges | 640/8 | €2,622 | €3,058 | +€435 | +16.6% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €275,837 | €340,299 | +€64,463 | +23.4% |
| Operating profit (loss) | 9901 | €111,075 | €135,742 | +€24,666 | +22.2% |
| Financial income | 75/76B | €875 | €1,850 | +€975 | +111% |
| Recurring financial income | 75 | €875 | €1,850 | +€975 | +111% |
| Financial charges | 65/66B | €2,225 | €3,707 | +€1,482 | +66.6% |
| Recurring financial charges | 65 | €2,225 | €3,642 | +€1,417 | +63.7% |
| Non-recurring financial charges | 66B | - | €65 | +€65 | |
| Profit (loss) for the period before taxes | 9903 | €109,726 | €133,885 | +€24,159 | +22.0% |
| Income taxes | 67/77 | €32,657 | €39,273 | +€6,616 | +20.3% |
| Profit (loss) for the period | 9904 | €77,069 | €94,612 | +€17,543 | +22.8% |
| Profit (loss) for the period to be appropriated | 9905 | €77,069 | €94,612 | +€17,543 | +22.8% |
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 28 October 2026 via checked.be.