ER-EXPRESS: 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.
ER-EXPRESS
Largest movements
- Receivables within one year +€65,284
up €65,284 (+62.9%), from €103,847 to €169,131
of which Trade receivables: +€66,669
- Cash +€12,551
up €12,551 (+5.5%), from €228,378 to €240,929
mainly Net result for the year (+€82,076) and Trade debts (+€44,070)
- Tangible fixed assets +€9,768
up €9,768 (+2.1%), from €472,729 to €482,497
of which Furniture and vehicles: +€29,273
- Reserves +€82,076
up €82,076 (+14.9%), from €550,079 to €632,155
of which Distributable reserves: +€82,076
- Other debts -€61,571
down €61,571 (-37.3%), from €164,899 to €103,328
- Trade debts +€44,070
up €44,070 (+84.2%), from €52,353 to €96,423
- Tax, wage and social debts +€23,028
up €23,028 (+121.1%), from €19,023 to €42,051
of which Taxes: +€22,890
- Gross operating margin +€63,014
up €63,014 (+65.8%), from €95,793 to €158,807
- Taxes +€22,184
up €22,184 (+209.1%), from €10,608 to €32,792
- Depreciation -€13,992
down €13,992 (-30.6%), from €45,771 to €31,779
- Staff costs -€7,864
down €7,864 (-65.6%), from €11,990 to €4,126
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €804,954 | €892,557 | +€87,603 | +10.9% |
| Fixed assets | 21/28 | €472,729 | €482,497 | +€9,768 | +2.1% |
| Tangible fixed assets | 22/27 | €472,729 | €482,497 | +€9,768 | +2.1% |
| Land and buildings | 22 | €454,404 | €431,891 | -€22,512 | -5.0% |
| Plant, machinery and equipment | 23 | €1,824 | €4,832 | +€3,008 | +165.0% |
| Furniture and vehicles | 24 | €16,502 | €45,774 | +€29,273 | +177.4% |
| Current assets | 29/58 | €332,225 | €410,060 | +€77,835 | +23.4% |
| Amounts receivable within one year | 40/41 | €103,847 | €169,131 | +€65,284 | +62.9% |
| Trade receivables | 40 | €84,884 | €151,552 | +€66,669 | +78.5% |
| Other amounts receivable | 41 | €18,963 | €17,579 | -€1,385 | -7.3% |
| Cash at bank and in hand | 54/58 | €228,378 | €240,929 | +€12,551 | +5.5% |
| Total equity and liabilities | 10/49 | €804,954 | €892,557 | +€87,603 | +10.9% |
| Equity | 10/15 | €568,679 | €650,755 | +€82,076 | +14.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €550,079 | €632,155 | +€82,076 | +14.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €548,219 | €630,295 | +€82,076 | +15.0% |
| Amounts payable | 17/49 | €236,275 | €241,802 | +€5,527 | +2.3% |
| Amounts payable within one year | 42/48 | €236,275 | €241,802 | +€5,527 | +2.3% |
| Trade debts | 44 | €52,353 | €96,423 | +€44,070 | +84.2% |
| Suppliers | 440/4 | €52,353 | €96,423 | +€44,070 | +84.2% |
| Taxes, remuneration and social security | 45 | €19,023 | €42,051 | +€23,028 | +121.1% |
| Taxes | 450/3 | €13,151 | €36,041 | +€22,890 | +174.1% |
| Remuneration and social security | 454/9 | €5,872 | €6,010 | +€138 | +2.4% |
| Other amounts payable | 47/48 | €164,899 | €103,328 | -€61,571 | -37.3% |
| Non-recurring operating income | 76A | - | €248 | +€248 | |
| Remuneration, social security and pensions | 62 | €11,990 | €4,126 | -€7,864 | -65.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,771 | €31,779 | -€13,992 | -30.6% |
| Other operating charges | 640/8 | €1,493 | €1,288 | -€205 | -13.7% |
| Non-recurring operating charges | 66A | - | €6,589 | +€6,589 | |
| Gross operating margin | 9900 | €95,793 | €158,807 | +€63,014 | +65.8% |
| Operating profit (loss) | 9901 | €36,540 | €115,025 | +€78,485 | +214.8% |
| Financial income | 75/76B | €3 | €1 | -€2 | -75.2% |
| Recurring financial income | 75 | €3 | €1 | -€2 | -75.2% |
| Financial charges | 65/66B | €222 | €157 | -€65 | -29.1% |
| Recurring financial charges | 65 | €222 | €157 | -€65 | -29.1% |
| Profit (loss) for the period before taxes | 9903 | €36,321 | €114,868 | +€78,548 | +216.3% |
| Income taxes | 67/77 | €10,608 | €32,792 | +€22,184 | +209.1% |
| Profit (loss) for the period | 9904 | €25,713 | €82,076 | +€56,363 | +219.2% |
| Profit (loss) for the period to be appropriated | 9905 | €25,713 | €82,076 | +€56,363 | +219.2% |
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 7 October 2026 via checked.be.