ER-WI: 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-WI
Largest movements
- Receivables within one year +€83,403
up €83,403 (+180.2%), from €46,289 to €129,692
of which Other amounts receivable: +€83,403
- Cash -€32,328
down €32,328 (-39.9%), from €80,968 to €48,640
mainly Receivables within one year (-€83,403) and Investment in fixed assets (net) (-€30,165)
- Tangible fixed assets -€11,005
down €11,005 (-4.3%), from €258,626 to €247,621
of which Land and buildings: -€12,001
- Reserves +€50,652
up €50,652 (+18.5%), from €274,235 to €324,886
- Other debts -€5,304
down €5,304 (-71.7%), from €7,394 to €2,090
- Gross operating margin +€13,651
up €13,651 (+12.7%), from €107,740 to €121,391
- Depreciation +€4,992
up €4,992 (+13.8%), from €36,179 to €41,171
- Taxes +€1,598
up €1,598 (+8.8%), from €18,071 to €19,668
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 | €392,460 | €434,577 | +€42,117 | +10.7% |
| Fixed assets | 21/28 | €263,251 | €252,246 | -€11,005 | -4.2% |
| Tangible fixed assets | 22/27 | €258,626 | €247,621 | -€11,005 | -4.3% |
| Land and buildings | 22 | €191,922 | €179,921 | -€12,001 | -6.3% |
| Furniture and vehicles | 24 | €66,704 | €67,700 | +€996 | +1.5% |
| Financial fixed assets | 28 | €4,625 | €4,625 | = | 0.0% |
| Current assets | 29/58 | €129,209 | €182,332 | +€53,123 | +41.1% |
| Amounts receivable within one year | 40/41 | €46,289 | €129,692 | +€83,403 | +180.2% |
| Trade receivables | 40 | €19,360 | €19,360 | = | 0.0% |
| Other amounts receivable | 41 | €26,929 | €110,332 | +€83,403 | +309.7% |
| Cash at bank and in hand | 54/58 | €80,968 | €48,640 | -€32,328 | -39.9% |
| Deferred charges and accrued income | 490/1 | €1,952 | €4,000 | +€2,048 | +104.9% |
| Total equity and liabilities | 10/49 | €392,460 | €434,577 | +€42,117 | +10.7% |
| Equity | 10/15 | €280,435 | €331,086 | +€50,652 | +18.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €274,235 | €324,886 | +€50,652 | +18.5% |
| Distributable reserves | 133 | €274,235 | €324,886 | +€50,652 | +18.5% |
| Amounts payable | 17/49 | €112,025 | €103,491 | -€8,534 | -7.6% |
| Amounts payable after more than one year | 17 | €75,035 | €72,300 | -€2,735 | -3.6% |
| Financial debts | 170/4 | €73,035 | €70,300 | -€2,735 | -3.7% |
| Other amounts payable | 178/9 | €2,000 | €2,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €36,990 | €30,858 | -€6,132 | -16.6% |
| Current portion of amounts payable after more than one year | 42 | €21,608 | €20,135 | -€1,473 | -6.8% |
| Trade debts | 44 | €3,126 | €3,255 | +€129 | +4.1% |
| Suppliers | 440/4 | €3,126 | €3,255 | +€129 | +4.1% |
| Taxes, remuneration and social security | 45 | €4,862 | €5,378 | +€516 | +10.6% |
| Taxes | 450/3 | €3,062 | €3,578 | +€516 | +16.9% |
| Remuneration and social security | 454/9 | €1,800 | €1,800 | = | 0.0% |
| Other amounts payable | 47/48 | €7,394 | €2,090 | -€5,304 | -71.7% |
| Accrued charges and deferred income | 492/3 | - | €333 | +€333 | |
| Non-recurring operating income | 76A | - | €7,600 | +€7,600 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,179 | €41,171 | +€4,992 | +13.8% |
| Other operating charges | 640/8 | €4,375 | €4,783 | +€409 | +9.3% |
| Gross operating margin | 9900 | €107,740 | €121,391 | +€13,651 | +12.7% |
| Operating profit (loss) | 9901 | €67,187 | €75,437 | +€8,251 | +12.3% |
| Financial income | 75/76B | €12 | - | -€12 | |
| Recurring financial income | 75 | €12 | - | -€12 | |
| Financial charges | 65/66B | €3,131 | €3,117 | -€13 | -0.4% |
| Recurring financial charges | 65 | €3,131 | €3,117 | -€13 | -0.4% |
| Profit (loss) for the period before taxes | 9903 | €64,068 | €72,320 | +€8,252 | +12.9% |
| Income taxes | 67/77 | €18,071 | €19,668 | +€1,598 | +8.8% |
| Profit (loss) for the period | 9904 | €45,997 | €52,652 | +€6,654 | +14.5% |
| Profit (loss) for the period to be appropriated | 9905 | €45,997 | €52,652 | +€6,654 | +14.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.