ERAS: 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.
ERAS
Largest movements
- Receivables within one year -€602,656
down €602,656 (-46.5%), from €1.3m to €693,485
- Cash +€282,744
up €282,744 (+110%), from €256,184 to €538,928
mainly Receivables within one year (+€602,656) and Net result for the year (+€459,019)
- Tangible fixed assets -€183,275
down €183,275 (-7.8%), from €2.4m to €2.2m
of which Land and buildings: -€192,818
- Debts after one year -€667,814
no longer reported in 2025 (was €667,814)
- Reserves +€429,019
up €429,019 (+18.6%), from €2.3m to €2.7m
of which Distributable reserves: +€429,019
- Other debts -€269,503
down €269,503 (-89.3%), from €301,661 to €32,158
- Accrued charges and deferred income +€133,437
new in 2025: €133,437
- Trade debts -€69,907
down €69,907 (-29.6%), from €235,888 to €165,981
- Gross operating margin +€180,308
up €180,308 (+24.1%), from €747,960 to €928,268
- Financial income -€34,413
no longer reported in 2025 (was €34,413)
- Taxes +€32,930
up €32,930 (+28.6%), from €115,253 to €148,183
- Financial charges -€20,557
down €20,557 (-54.8%), from €37,480 to €16,923
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 | €3,931,270 | €3,427,810 | -€503,460 | -12.8% |
| Fixed assets | 21/28 | €2,362,444 | €2,178,896 | -€183,547 | -7.8% |
| Intangible fixed assets | 21 | €272 | - | -€272 | |
| Tangible fixed assets | 22/27 | €2,362,172 | €2,178,896 | -€183,275 | -7.8% |
| Land and buildings | 22 | €2,362,135 | €2,169,317 | -€192,818 | -8.2% |
| Furniture and vehicles | 24 | €37 | €9,580 | +€9,543 | +25,953% |
| Current assets | 29/58 | €1,568,826 | €1,248,913 | -€319,913 | -20.4% |
| Amounts receivable within one year | 40/41 | €1,296,141 | €693,485 | -€602,656 | -46.5% |
| Other amounts receivable | 41 | €1,296,141 | €693,485 | -€602,656 | -46.5% |
| Cash at bank and in hand | 54/58 | €256,184 | €538,928 | +€282,744 | +110% |
| Deferred charges and accrued income | 490/1 | €16,500 | €16,500 | = | 0.0% |
| Total equity and liabilities | 10/49 | €3,931,270 | €3,427,810 | -€503,460 | -12.8% |
| Equity | 10/15 | €2,481,414 | €2,910,433 | +€429,019 | +17.3% |
| Contributions | 10/11 | €179,971 | €179,971 | = | 0.0% |
| Capital | 10 | €179,971 | €179,971 | = | 0.0% |
| Issued capital | 100 | €179,971 | €179,971 | = | 0.0% |
| Reserves | 13 | €2,301,443 | €2,730,462 | +€429,019 | +18.6% |
| Non-distributable reserves | 130/1 | €17,997 | €17,997 | = | 0.0% |
| Legal reserve | 130 | €17,997 | €17,997 | = | 0.0% |
| Distributable reserves | 133 | €2,283,446 | €2,712,465 | +€429,019 | +18.8% |
| Amounts payable | 17/49 | €1,449,855 | €517,376 | -€932,479 | -64.3% |
| Amounts payable after more than one year | 17 | €667,814 | - | -€667,814 | |
| Financial debts | 170/4 | €667,814 | - | -€667,814 | |
| Amounts payable within one year | 42/48 | €782,041 | €383,939 | -€398,102 | -50.9% |
| Current portion of amounts payable after more than one year | 42 | €111,472 | €67,989 | -€43,484 | -39.0% |
| Trade debts | 44 | €235,888 | €165,981 | -€69,907 | -29.6% |
| Suppliers | 440/4 | €235,888 | €165,981 | -€69,907 | -29.6% |
| Advances received on contracts in progress | 46 | €116,521 | €97,990 | -€18,531 | -15.9% |
| Taxes, remuneration and social security | 45 | €16,499 | €19,821 | +€3,323 | +20.1% |
| Taxes | 450/3 | €15,000 | €16,000 | +€1,000 | +6.7% |
| Remuneration and social security | 454/9 | €1,499 | €3,821 | +€2,323 | +155% |
| Other amounts payable | 47/48 | €301,661 | €32,158 | -€269,503 | -89.3% |
| Accrued charges and deferred income | 492/3 | - | €133,437 | +€133,437 | |
| Remuneration, social security and pensions | 62 | €21,197 | €24,314 | +€3,117 | +14.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €210,415 | €210,790 | +€375 | +0.2% |
| Other operating charges | 640/8 | €67,376 | €69,040 | +€1,664 | +2.5% |
| Gross operating margin | 9900 | €747,960 | €928,268 | +€180,308 | +24.1% |
| Operating profit (loss) | 9901 | €448,971 | €624,125 | +€175,153 | +39.0% |
| Financial income | 75/76B | €34,413 | - | -€34,413 | |
| Recurring financial income | 75 | €34,413 | - | -€34,413 | |
| Financial charges | 65/66B | €37,480 | €16,923 | -€20,557 | -54.8% |
| Recurring financial charges | 65 | €37,480 | €16,923 | -€20,557 | -54.8% |
| Profit (loss) for the period before taxes | 9903 | €445,904 | €607,202 | +€161,298 | +36.2% |
| Income taxes | 67/77 | €115,253 | €148,183 | +€32,930 | +28.6% |
| Profit (loss) for the period | 9904 | €330,651 | €459,019 | +€128,368 | +38.8% |
| Profit (loss) for the period to be appropriated | 9905 | €330,651 | €459,019 | +€128,368 | +38.8% |
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 15 October 2026 via checked.be.