ERARD: 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
ERARD
NACE 46.499, Wholesale of other household goods
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€182,222
2024 · €84,023+€98,199
Equity
€2.0m
2024 · €1.8m+€182,222
Cash
€26,423
2024 · €56,462-€30,039
Balance sheet total
€4.7m
2024 · €4.7m+€3,578
Largest movements
Assets
- Stocks and contracts +€725,269
up €725,269 (+27.3%), from €2.7m to €3.4m
- Receivables within one year -€618,884
down €618,884 (-50.6%), from €1.2m to €605,318
of which Other amounts receivable: -€485,037
- Tangible fixed assets -€71,317
down €71,317 (-9.4%), from €759,467 to €688,150
of which Plant, machinery and equipment: -€104,243
Equity and liabilities
- Short-term financial debts -€200,000
down €200,000 (-22.2%), from €900,000 to €700,000
- Profit (loss) carried forward +€182,222
up €182,222 (+17.5%), from €1.0m to €1.2m
- Trade debts +€53,989
up €53,989 (+4.2%), from €1.3m to €1.3m
- Debts after one year -€48,636
down €48,636 (-10.4%), from €469,309 to €420,673
Income statement
- Gross operating margin +€90,996
up €90,996 (+5.5%), from €1.7m to €1.8m
- Taxes +€35,319
up €35,319 (+84.9%), from €41,592 to €76,911
- Financial charges -€31,193
down €31,193 (-19.5%), from €160,239 to €129,046
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
€84,023
Gross operating margin
+€90,996
Staff costs
+€5,191
Depreciation
+€8,573
Other operating charges
-€3,350
Other operating items
+€1,004
Financial income
-€89
Financial charges
+€31,193
Taxes
-€35,319
Result 2025
€182,222
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€268,818
Investment
-€58,614
Financing
-€240,243
Cash 2024
€56,462
From operations (derived)
+€268,818
Net result for the year
+€182,222
Depreciation
+€129,931
Stocks and contracts
-€725,269
Receivables within one year
+€618,884
Smaller working-capital items
+€1,803
Trade debts
+€53,989
Tax, wage and social debts
+€7,258
Investment (derived)
-€58,614
Investment in fixed assets (net)
-€58,614
Financing
-€240,243
Debts after one year
-€48,636
Current portion of long-term debt
+€8,393
Short-term financial debts
-€200,000
Cash 2025
€26,423
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,719,519 | €4,723,097 | +€3,578 | +0.1% |
| Fixed assets | 21/28 | €759,467 | €688,150 | -€71,317 | -9.4% |
| Tangible fixed assets | 22/27 | €759,467 | €688,150 | -€71,317 | -9.4% |
| Plant, machinery and equipment | 23 | €706,785 | €602,542 | -€104,243 | -14.7% |
| Furniture and vehicles | 24 | €48,582 | €35,914 | -€12,668 | -26.1% |
| Leasing and similar rights | 25 | - | €45,594 | +€45,594 | |
| Other tangible fixed assets | 26 | €4,100 | €4,100 | = | 0.0% |
| Current assets | 29/58 | €3,960,052 | €4,034,947 | +€74,895 | +1.9% |
| Stocks and contracts in progress | 3 | €2,657,012 | €3,382,281 | +€725,269 | +27.3% |
| Stocks | 30/36 | €2,657,012 | €3,382,281 | +€725,269 | +27.3% |
| Amounts receivable within one year | 40/41 | €1,224,202 | €605,318 | -€618,884 | -50.6% |
| Trade receivables | 40 | €663,065 | €529,218 | -€133,847 | -20.2% |
| Other amounts receivable | 41 | €561,137 | €76,100 | -€485,037 | -86.4% |
| Cash at bank and in hand | 54/58 | €56,462 | €26,423 | -€30,039 | -53.2% |
| Deferred charges and accrued income | 490/1 | €22,376 | €20,925 | -€1,451 | -6.5% |
| Total equity and liabilities | 10/49 | €4,719,519 | €4,723,097 | +€3,578 | +0.1% |
| Equity | 10/15 | €1,768,761 | €1,950,983 | +€182,222 | +10.3% |
| Contributions | 10/11 | €658,241 | €658,241 | = | 0.0% |
| Capital | 10 | €658,241 | €658,241 | = | 0.0% |
| Issued capital | 100 | €658,241 | €658,241 | = | 0.0% |
| Reserves | 13 | €70,253 | €70,253 | = | 0.0% |
| Non-distributable reserves | 130/1 | €68,500 | €68,500 | = | 0.0% |
| Legal reserve | 130 | €68,500 | €68,500 | = | 0.0% |
| Distributable reserves | 133 | €1,753 | €1,753 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,040,267 | €1,222,489 | +€182,222 | +17.5% |
| Amounts payable | 17/49 | €2,950,758 | €2,772,114 | -€178,644 | -6.1% |
| Amounts payable after more than one year | 17 | €469,309 | €420,673 | -€48,636 | -10.4% |
| Financial debts | 170/4 | €469,309 | €420,673 | -€48,636 | -10.4% |
| Amounts payable within one year | 42/48 | €2,481,449 | €2,351,441 | -€130,008 | -5.2% |
| Current portion of amounts payable after more than one year | 42 | €86,050 | €94,443 | +€8,393 | +9.8% |
| Financial debts | 43 | €900,000 | €700,000 | -€200,000 | -22.2% |
| Credit institutions | 430/8 | €900,000 | €700,000 | -€200,000 | -22.2% |
| Trade debts | 44 | €1,281,230 | €1,335,219 | +€53,989 | +4.2% |
| Suppliers | 440/4 | €1,281,230 | €1,335,219 | +€53,989 | +4.2% |
| Taxes, remuneration and social security | 45 | €214,169 | €221,427 | +€7,258 | +3.4% |
| Taxes | 450/3 | €95,856 | €101,248 | +€5,392 | +5.6% |
| Remuneration and social security | 454/9 | €118,313 | €120,179 | +€1,866 | +1.6% |
| Other amounts payable | 47/48 | - | €352 | +€352 | |
| Non-recurring operating income | 76A | €38,549 | €1,810 | -€36,739 | -95.3% |
| Remuneration, social security and pensions | 62 | €1,210,814 | €1,205,623 | -€5,191 | -0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €138,504 | €129,931 | -€8,573 | -6.2% |
| Other operating charges | 640/8 | €20,842 | €24,192 | +€3,350 | +16.1% |
| Non-recurring operating charges | 66A | €9,057 | €8,053 | -€1,004 | -11.1% |
| Gross operating margin | 9900 | €1,664,982 | €1,755,978 | +€90,996 | +5.5% |
| Operating profit (loss) | 9901 | €285,765 | €388,179 | +€102,414 | +35.8% |
| Financial income | 75/76B | €89 | - | -€89 | |
| Recurring financial income | 75 | €89 | - | -€89 | |
| Financial charges | 65/66B | €160,239 | €129,046 | -€31,193 | -19.5% |
| Recurring financial charges | 65 | €160,239 | €129,046 | -€31,193 | -19.5% |
| Profit (loss) for the period before taxes | 9903 | €125,615 | €259,133 | +€133,518 | +106% |
| Income taxes | 67/77 | €41,592 | €76,911 | +€35,319 | +84.9% |
| Profit (loss) for the period | 9904 | €84,023 | €182,222 | +€98,199 | +117% |
| Profit (loss) for the period to be appropriated | 9905 | €84,023 | €182,222 | +€98,199 | +117% |
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 15 October 2026 via checked.be.