ERAP: 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.
What changed
ERAP
NACE 25.999, Manufacture of fabricated metal products, except machinery and equipment
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€2.4m
2024 · €3.6m-€1.2m
Equity
€8.2m
2024 · €7.9m+€365,199
Cash
-
not filed
Balance sheet total
€24.9m
2024 · €22.8m+€2.0m
Largest movements
Assets
- Receivables within one year +€2.6m
up €2.6m (+14.5%), from €17.8m to €20.4m
of which Other amounts receivable: +€2.5m
- Stocks and contracts -€315,469
down €315,469 (-9.4%), from €3.3m to €3.0m
Equity and liabilities
- Other debts +€2.0m
up €2.0m (+57.1%), from €3.5m to €5.5m
- Trade debts -€697,998
down €697,998 (-59.8%), from €1.2m to €469,151
- Tax, wage and social debts +€370,916
up €370,916 (+32.7%), from €1.1m to €1.5m
of which Taxes: +€202,455
- Reserves +€333,431
up €333,431 (+4.6%), from €7.2m to €7.5m
of which Distributable reserves: +€333,431
Income statement
- Turnover -€3.7m
down €3.7m (-12.3%), from €29.9m to €26.2m
- Goods and materials -€2.2m
down €2.2m (-11.4%), from €19.5m to €17.2m
of which Purchases: -€2.2m
- Taxes -€441,172
down €441,172 (-34.8%), from €1.3m to €825,000
- Staff costs +€417,263
up €417,263 (+12.0%), from €3.5m to €3.9m
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
€3.6m
Turnover
-€3.7m
Other operating income
+€22,428
Goods and materials
+€2.2m
Services and other goods
+€200,187
Staff costs
-€417,263
Depreciation
-€14,661
Write-downs
+€67,102
Other operating charges
-€6,052
Other operating items
-€130,000
Financial income
-€2,084
Financial charges
+€108,445
Taxes
+€441,172
Result 2025
€2.4m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €22,848,305 | €24,880,914 | +€2.0m | +8.9% |
| Fixed assets | 21/28 | €1,701,579 | €1,470,472 | -€231,107 | -13.6% |
| Tangible fixed assets | 22/27 | €1,701,546 | €1,470,375 | -€231,171 | -13.6% |
| Land and buildings | 22 | €690,055 | €683,860 | -€6,194 | -0.9% |
| Plant, machinery and equipment | 23 | €988,066 | €776,305 | -€211,762 | -21.4% |
| Furniture and vehicles | 24 | €23,426 | €10,210 | -€13,215 | -56.4% |
| Financial fixed assets | 28 | €33 | €97 | +€64 | +195% |
| Affiliated companies | 280/1 | €33 | €97 | +€64 | +195% |
| Participating interests | 280 | €33 | €97 | +€64 | +195% |
| Current assets | 29/58 | €21,146,725 | €23,410,442 | +€2.3m | +10.7% |
| Stocks and contracts in progress | 3 | €3,348,830 | €3,033,361 | -€315,469 | -9.4% |
| Stocks | 30/36 | €3,348,830 | €3,033,361 | -€315,469 | -9.4% |
| Goods purchased for resale | 34 | €3,348,830 | €3,033,361 | -€315,469 | -9.4% |
| Amounts receivable within one year | 40/41 | €17,792,358 | €20,377,081 | +€2.6m | +14.5% |
| Trade receivables | 40 | €12,059,581 | €12,176,646 | +€117,065 | +1.0% |
| Other amounts receivable | 41 | €5,732,777 | €8,200,435 | +€2.5m | +43.0% |
| Deferred charges and accrued income | 490/1 | €5,537 | - | -€5,537 | |
| Total equity and liabilities | 10/49 | €22,848,305 | €24,880,914 | +€2.0m | +8.9% |
| Equity | 10/15 | €7,876,076 | €8,241,276 | +€365,199 | +4.6% |
| Contributions | 10/11 | €371,840 | €371,840 | = | 0.0% |
| Capital | 10 | €371,840 | €371,840 | = | 0.0% |
| Issued capital | 100 | €371,840 | €371,840 | = | 0.0% |
| Reserves | 13 | €7,170,805 | €7,504,236 | +€333,431 | +4.6% |
| Non-distributable reserves | 130/1 | €37,184 | €37,184 | = | 0.0% |
| Legal reserve | 130 | €37,184 | €37,184 | = | 0.0% |
| Tax-exempt reserves | 132 | €61,092 | €61,092 | = | 0.0% |
| Distributable reserves | 133 | €7,072,529 | €7,405,960 | +€333,431 | +4.7% |
| Profit (loss) carried forward | 14 | €333,431 | €365,199 | +€31,769 | +9.5% |
| Provisions and deferred taxes | 16 | €30,000 | €30,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €30,000 | €30,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €30,000 | €30,000 | = | 0.0% |
| Amounts payable | 17/49 | €14,942,228 | €16,609,638 | +€1.7m | +11.2% |
| Amounts payable within one year | 42/48 | €14,942,088 | €16,609,482 | +€1.7m | +11.2% |
| Financial debts | 43 | €9,141,011 | €9,135,487 | -€5,524 | -0.1% |
| Other loans | 439 | €9,141,011 | €9,135,487 | -€5,524 | -0.1% |
| Trade debts | 44 | €1,167,149 | €469,151 | -€697,998 | -59.8% |
| Suppliers | 440/4 | €1,167,149 | €469,151 | -€697,998 | -59.8% |
| Taxes, remuneration and social security | 45 | €1,133,929 | €1,504,845 | +€370,916 | +32.7% |
| Taxes | 450/3 | €746,170 | €948,625 | +€202,455 | +27.1% |
| Remuneration and social security | 454/9 | €387,759 | €556,220 | +€168,461 | +43.4% |
| Other amounts payable | 47/48 | €3,500,000 | €5,500,000 | +€2.0m | +57.1% |
| Accrued charges and deferred income | 492/3 | €140 | €156 | +€16 | +11.5% |
| Operating income | 70/76A | €30,274,277 | €26,471,380 | -€3.8m | -12.6% |
| Turnover | 70 | €29,940,286 | €26,244,961 | -€3.7m | -12.3% |
| Other operating income | 74 | €203,991 | €226,419 | +€22,428 | +11.0% |
| Non-recurring operating income | 76A | €130,000 | - | -€130,000 | |
| Operating charges | 60/66A | €25,212,573 | €23,165,136 | -€2.0m | -8.1% |
| Goods for resale, raw materials and consumables | 60 | €19,452,858 | €17,234,735 | -€2.2m | -11.4% |
| Purchases | 600/8 | €19,054,040 | €16,815,209 | -€2.2m | -11.7% |
| Change in stocks: decrease (increase) | 609 | €398,818 | €419,526 | +€20,708 | +5.2% |
| Services and other goods | 61 | €1,708,009 | €1,507,822 | -€200,187 | -11.7% |
| Remuneration, social security and pensions | 62 | €3,481,893 | €3,899,156 | +€417,263 | +12.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €389,508 | €404,169 | +€14,661 | +3.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€36,955 | -€104,057 | -€67,102 | -182% |
| Other operating charges | 640/8 | €217,260 | €223,312 | +€6,052 | +2.8% |
| Operating profit (loss) | 9901 | €5,061,704 | €3,306,244 | -€1.8m | -34.7% |
| Financial income | 75/76B | €508,674 | €506,590 | -€2,084 | -0.4% |
| Recurring financial income | 75 | €508,674 | €506,590 | -€2,084 | -0.4% |
| Other financial income | 752/9 | €508,674 | €506,590 | -€2,084 | -0.4% |
| Financial charges | 65/66B | €731,080 | €622,635 | -€108,445 | -14.8% |
| Recurring financial charges | 65 | €731,080 | €622,635 | -€108,445 | -14.8% |
| Debt charges | 650 | €729,981 | €621,545 | -€108,436 | -14.9% |
| Other financial charges | 652/9 | €1,099 | €1,090 | -€9 | -0.8% |
| Profit (loss) for the period before taxes | 9903 | €4,839,298 | €3,190,199 | -€1.6m | -34.1% |
| Income taxes | 67/77 | €1,266,172 | €825,000 | -€441,172 | -34.8% |
| Taxes | 670/3 | €1,266,172 | €825,000 | -€441,172 | -34.8% |
| Profit (loss) for the period | 9904 | €3,573,126 | €2,365,199 | -€1.2m | -33.8% |
| Profit (loss) for the period to be appropriated | 9905 | €3,573,126 | €2,365,199 | -€1.2m | -33.8% |
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 13 October 2026 via checked.be.