ERAS-MV: 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-MV
Largest movements
- Cash +€124,565
up €124,565 (+79.1%), from €157,391 to €281,956
mainly Net result for the year (+€70,060) and Investment in fixed assets (net) (+€44,832)
- Financial fixed assets -€43,786
down €43,786 (-100%), from €43,786 to €0
- Reserves +€51,657
up €51,657 (+31.4%), from €164,676 to €216,333
- Other debts +€15,592
up €15,592 (+31,185%), from €50 to €15,642
- Tax, wage and social debts +€9,945
up €9,945 (+41.5%), from €23,940 to €33,885
- Financial income +€145,273
new in 2025: €145,273
- Gross operating margin -€143,456
down €143,456, from €105,564 to -€37,892
- Taxes -€26,756
down €26,756 (-78.8%), from €33,940 to €7,184
- Financial charges +€26,346
up €26,346 (+1,890%), from €1,394 to €27,740
of which Non-recurring financial charges: +€27,667
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 | €207,266 | €285,063 | +€77,797 | +37.5% |
| Fixed assets | 21/28 | €47,060 | €1,400 | -€45,660 | -97.0% |
| Tangible fixed assets | 22/27 | €3,274 | €1,400 | -€1,874 | -57.2% |
| Plant, machinery and equipment | 23 | €1,046 | €0 | -€1,046 | -100% |
| Furniture and vehicles | 24 | €2,228 | €1,400 | -€828 | -37.2% |
| Financial fixed assets | 28 | €43,786 | €0 | -€43,786 | -100% |
| Current assets | 29/58 | €160,206 | €283,663 | +€123,457 | +77.1% |
| Amounts receivable within one year | 40/41 | €2,815 | €1,707 | -€1,108 | -39.4% |
| Trade receivables | 40 | €1,755 | €0 | -€1,755 | -100% |
| Other amounts receivable | 41 | €1,060 | €1,707 | +€647 | +61.1% |
| Cash at bank and in hand | 54/58 | €157,391 | €281,956 | +€124,565 | +79.1% |
| Total equity and liabilities | 10/49 | €207,266 | €285,063 | +€77,797 | +37.5% |
| Equity | 10/15 | €183,276 | €234,933 | +€51,657 | +28.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €164,676 | €216,333 | +€51,657 | +31.4% |
| Distributable reserves | 133 | €164,676 | €216,333 | +€51,657 | +31.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €23,990 | €50,130 | +€26,140 | +109% |
| Amounts payable within one year | 42/48 | €23,990 | €50,130 | +€26,140 | +109% |
| Trade debts | 44 | - | €603 | +€603 | |
| Suppliers | 440/4 | - | €603 | +€603 | |
| Taxes, remuneration and social security | 45 | €23,940 | €33,885 | +€9,945 | +41.5% |
| Taxes | 450/3 | €23,940 | €33,885 | +€9,945 | +41.5% |
| Other amounts payable | 47/48 | €50 | €15,642 | +€15,592 | +31,185% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,135 | €828 | -€307 | -27.1% |
| Other operating charges | 640/8 | €921 | €1,570 | +€649 | +70.5% |
| Gross operating margin | 9900 | €105,564 | -€37,892 | -€143,456 | |
| Operating profit (loss) | 9901 | €103,508 | -€40,290 | -€143,797 | |
| Financial income | 75/76B | - | €145,273 | +€145,273 | |
| Recurring financial income | 75 | - | €145,273 | +€145,273 | |
| Financial charges | 65/66B | €1,394 | €27,740 | +€26,346 | +1,890% |
| Recurring financial charges | 65 | €1,394 | €72 | -€1,322 | -94.8% |
| Non-recurring financial charges | 66B | - | €27,667 | +€27,667 | |
| Profit (loss) for the period before taxes | 9903 | €102,114 | €77,244 | -€24,870 | -24.4% |
| Income taxes | 67/77 | €33,940 | €7,184 | -€26,756 | -78.8% |
| Profit (loss) for the period | 9904 | €68,174 | €70,060 | +€1,886 | +2.8% |
| Profit (loss) for the period to be appropriated | 9905 | €68,174 | €70,060 | +€1,886 | +2.8% |
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 28 October 2026 via checked.be.