ERASMUS: what changed
Two fiscal 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.
ERASMUS
Largest movements
- Cash +€289,025
up €289,025 (+101.0%), from €286,159 to €575,184
mainly Net result for the year (+€425,141) and Investment in fixed assets (net) (+€70,925)
- Tangible fixed assets -€70,925
down €70,925 (-100.0%), from €70,925 to €0
- Reserves +€425,141
up €425,141 (+1704.8%), from €24,938 to €450,078
- Other debts -€183,491
down €183,491 (-63.6%), from €288,545 to €105,053
- Investment grants -€17,461
down €17,461 (-100.0%), from €17,461 to €0
- Provisions -€5,820
down €5,820 (-100.0%), from €5,820 to €0
- Gross operating margin +€586,361
up €586,361 (+4481.9%), from €13,083 to €599,444
- Taxes +€194,795
up €194,795 (+3477.5%), from €5,602 to €200,396
- Financial income +€12,765
up €12,765 (+139.6%), from €9,143 to €21,909
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.
Cash bridge derived
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 | €357,950 | €576,499 | +€218,549 | +61.1% |
| Fixed assets | 21/28 | €70,925 | €0 | -€70,925 | -100.0% |
| Tangible fixed assets | 22/27 | €70,925 | €0 | -€70,925 | -100.0% |
| Land and buildings | 22 | €70,925 | €0 | -€70,925 | -100.0% |
| Current assets | 29/58 | €287,025 | €576,499 | +€289,474 | +100.9% |
| Amounts receivable within one year | 40/41 | - | €900 | +€900 | |
| Other amounts receivable | 41 | - | €900 | +€900 | |
| Cash at bank and in hand | 54/58 | €286,159 | €575,184 | +€289,025 | +101.0% |
| Deferred charges and accrued income | 490/1 | €865 | €415 | -€451 | -52.1% |
| Total equity and liabilities | 10/49 | €357,950 | €576,499 | +€218,549 | +61.1% |
| Equity | 10/15 | €62,399 | €470,078 | +€407,680 | +653.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €24,938 | €450,078 | +€425,141 | +1704.8% |
| Distributable reserves | 133 | €24,938 | €450,078 | +€425,141 | +1704.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Investment grants | 15 | €17,461 | €0 | -€17,461 | -100.0% |
| Provisions and deferred taxes | 16 | €5,820 | €0 | -€5,820 | -100.0% |
| Deferred taxes | 168 | €5,820 | €0 | -€5,820 | -100.0% |
| Amounts payable | 17/49 | €289,730 | €106,420 | -€183,310 | -63.3% |
| Amounts payable within one year | 42/48 | €289,679 | €106,296 | -€183,383 | -63.3% |
| Trade debts | 44 | €934 | €1,243 | +€309 | +33.1% |
| Suppliers | 440/4 | €934 | €1,243 | +€309 | +33.1% |
| Taxes, remuneration and social security | 45 | €200 | €0 | -€200 | -100.0% |
| Taxes | 450/3 | €200 | €0 | -€200 | -100.0% |
| Other amounts payable | 47/48 | €288,545 | €105,053 | -€183,491 | -63.6% |
| Accrued charges and deferred income | 492/3 | €52 | €124 | +€73 | +140.3% |
| Non-recurring operating income | 76A | - | €603,366 | +€603,366 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,717 | €0 | -€4,717 | -100.0% |
| Other operating charges | 640/8 | €118 | €568 | +€450 | +380.9% |
| Gross operating margin | 9900 | €13,083 | €599,444 | +€586,361 | +4481.9% |
| Operating profit (loss) | 9901 | €8,247 | €598,876 | +€590,629 | +7161.4% |
| Financial income | 75/76B | €9,143 | €21,909 | +€12,765 | +139.6% |
| Recurring financial income | 75 | €9,143 | €21,909 | +€12,765 | +139.6% |
| Financial charges | 65/66B | €119 | €1,068 | +€950 | +801.7% |
| Recurring financial charges | 65 | €119 | €1,068 | +€950 | +801.7% |
| Profit (loss) for the period before taxes | 9903 | €17,272 | €619,716 | +€602,444 | +3488.0% |
| Transfer from deferred taxes | 780 | €326 | €5,820 | +€5,494 | +1683.9% |
| Income taxes | 67/77 | €5,602 | €200,396 | +€194,795 | +3477.5% |
| Profit (loss) for the period | 9904 | €11,997 | €425,141 | +€413,144 | +3443.8% |
| Profit (loss) for the period to be appropriated | 9905 | €11,997 | €425,141 | +€413,144 | +3443.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.