ERALY PAUL: 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.
ERALY PAUL
Largest movements
- Tangible fixed assets -€40,192
down €40,192 (-4.8%), from €838,141 to €797,948
of which Land and buildings: -€39,591
- Receivables within one year -€24,000
down €24,000 (-4.2%), from €570,348 to €546,348
of which Trade receivables: -€24,000
- Other debts -€138,831
down €138,831 (-39.7%), from €349,303 to €210,472
- Reserves +€61,843
up €61,843 (+4.8%), from €1.3m to €1.4m
of which Distributable reserves: +€61,843
- Gross operating margin +€33,102
up €33,102 (+34.0%), from €97,239 to €130,340
- Taxes +€6,566
up €6,566 (+38.0%), from €17,293 to €23,860
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 | €1,732,299 | €1,666,519 | -€65,780 | -3.8% |
| Fixed assets | 21/28 | €998,141 | €957,948 | -€40,192 | -4.0% |
| Tangible fixed assets | 22/27 | €838,141 | €797,948 | -€40,192 | -4.8% |
| Land and buildings | 22 | €837,539 | €797,948 | -€39,591 | -4.7% |
| Plant, machinery and equipment | 23 | €602 | - | -€602 | |
| Financial fixed assets | 28 | €160,000 | €160,000 | = | 0.0% |
| Current assets | 29/58 | €734,158 | €708,571 | -€25,587 | -3.5% |
| Amounts receivable within one year | 40/41 | €570,348 | €546,348 | -€24,000 | -4.2% |
| Trade receivables | 40 | €24,000 | - | -€24,000 | |
| Other amounts receivable | 41 | €546,348 | €546,348 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €160,624 | €161,083 | +€458 | +0.3% |
| Deferred charges and accrued income | 490/1 | €3,187 | €1,141 | -€2,046 | -64.2% |
| Total equity and liabilities | 10/49 | €1,732,299 | €1,666,519 | -€65,780 | -3.8% |
| Equity | 10/15 | €1,317,800 | €1,379,643 | +€61,843 | +4.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,299,208 | €1,361,051 | +€61,843 | +4.8% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,297,349 | €1,359,192 | +€61,843 | +4.8% |
| Amounts payable | 17/49 | €414,499 | €286,876 | -€127,623 | -30.8% |
| Amounts payable within one year | 42/48 | €414,499 | €286,876 | -€127,623 | -30.8% |
| Trade debts | 44 | €28,443 | €32,985 | +€4,543 | +16.0% |
| Suppliers | 440/4 | €28,443 | €32,985 | +€4,543 | +16.0% |
| Taxes, remuneration and social security | 45 | €36,753 | €43,419 | +€6,666 | +18.1% |
| Taxes | 450/3 | €36,753 | €43,419 | +€6,666 | +18.1% |
| Other amounts payable | 47/48 | €349,303 | €210,472 | -€138,831 | -39.7% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,164 | €40,192 | -€971 | -2.4% |
| Other operating charges | 640/8 | €4,466 | €4,993 | +€527 | +11.8% |
| Gross operating margin | 9900 | €97,239 | €130,340 | +€33,102 | +34.0% |
| Operating profit (loss) | 9901 | €51,609 | €85,155 | +€33,546 | +65.0% |
| Financial income | 75/76B | €181 | €967 | +€786 | +433% |
| Recurring financial income | 75 | €181 | €967 | +€786 | +433% |
| Financial charges | 65/66B | €826 | €419 | -€406 | -49.2% |
| Recurring financial charges | 65 | €826 | €419 | -€406 | -49.2% |
| Profit (loss) for the period before taxes | 9903 | €50,965 | €85,703 | +€34,738 | +68.2% |
| Income taxes | 67/77 | €17,293 | €23,860 | +€6,566 | +38.0% |
| Profit (loss) for the period | 9904 | €33,671 | €61,843 | +€28,172 | +83.7% |
| Profit (loss) for the period to be appropriated | 9905 | €33,671 | €61,843 | +€28,172 | +83.7% |
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 27 October 2026 via checked.be.