ERAY: 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.
ERAY
Largest movements
- Tangible fixed assets -€16,442
down €16,442 (-39.4%), from €41,718 to €25,275
of which Furniture and vehicles: -€14,612
- Receivables within one year +€12,999
up €12,999 (+64.7%), from €20,092 to €33,091
of which Trade receivables: +€15,135
- Cash -€10,115
down €10,115 (-78.1%), from €12,957 to €2,842
mainly Net result for the year (-€15,064) and Receivables within one year (-€12,999)
- Deferred charges and accrued income -€2,525
no longer reported in 2025 (was €2,525)
- Profit (loss) carried forward -€15,064
down €15,064 (-41.0%), from €36,736 to €21,673
- Trade debts +€10,261
up €10,261 (+84.0%), from €12,217 to €22,478
- Debts after one year -€8,817
no longer reported in 2025 (was €8,817)
- Current portion of long-term debt -€4,036
down €4,036 (-31.4%), from €12,853 to €8,817
- Accrued charges and deferred income +€1,000
new in 2025: €1,000
- Gross operating margin -€7,839
down €7,839 (-62.2%), from €12,609 to €4,770
- Depreciation -€700
down €700 (-4.1%), from €17,142 to €16,442
- Financial charges -€360
down €360 (-28.0%), from €1,287 to €927
- Write-downs +€326
new in 2025: €326
- Financial income +€243
up €243 (+62.7%), from €388 to €632
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 | €84,419 | €67,695 | -€16,724 | -19.8% |
| Fixed assets | 21/28 | €41,718 | €25,275 | -€16,442 | -39.4% |
| Tangible fixed assets | 22/27 | €41,718 | €25,275 | -€16,442 | -39.4% |
| Plant, machinery and equipment | 23 | €3,687 | €1,857 | -€1,831 | -49.7% |
| Furniture and vehicles | 24 | €38,030 | €23,419 | -€14,612 | -38.4% |
| Current assets | 29/58 | €42,702 | €42,420 | -€282 | -0.7% |
| Stocks and contracts in progress | 3 | €7,128 | €6,486 | -€642 | -9.0% |
| Stocks | 30/36 | €7,128 | €6,486 | -€642 | -9.0% |
| Amounts receivable within one year | 40/41 | €20,092 | €33,091 | +€12,999 | +64.7% |
| Trade receivables | 40 | €7,369 | €22,504 | +€15,135 | +205.4% |
| Other amounts receivable | 41 | €12,723 | €10,587 | -€2,136 | -16.8% |
| Cash at bank and in hand | 54/58 | €12,957 | €2,842 | -€10,115 | -78.1% |
| Deferred charges and accrued income | 490/1 | €2,525 | - | -€2,525 | |
| Total equity and liabilities | 10/49 | €84,419 | €67,695 | -€16,724 | -19.8% |
| Equity | 10/15 | €44,064 | €29,000 | -€15,064 | -34.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,128 | €1,128 | = | 0.0% |
| Distributable reserves | 133 | €1,128 | €1,128 | = | 0.0% |
| Profit (loss) carried forward | 14 | €36,736 | €21,673 | -€15,064 | -41.0% |
| Amounts payable | 17/49 | €40,355 | €38,695 | -€1,660 | -4.1% |
| Amounts payable after more than one year | 17 | €8,817 | - | -€8,817 | |
| Financial debts | 170/4 | €8,817 | - | -€8,817 | |
| Amounts payable within one year | 42/48 | €31,538 | €37,695 | +€6,157 | +19.5% |
| Current portion of amounts payable after more than one year | 42 | €12,853 | €8,817 | -€4,036 | -31.4% |
| Trade debts | 44 | €12,217 | €22,478 | +€10,261 | +84.0% |
| Suppliers | 440/4 | €12,217 | €22,478 | +€10,261 | +84.0% |
| Taxes, remuneration and social security | 45 | €6,468 | €6,400 | -€68 | -1.1% |
| Taxes | 450/3 | €4,468 | €4,400 | -€68 | -1.5% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €1,000 | +€1,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,142 | €16,442 | -€700 | -4.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €326 | +€326 | |
| Other operating charges | 640/8 | €1,566 | €1,502 | -€64 | -4.1% |
| Gross operating margin | 9900 | €12,609 | €4,770 | -€7,839 | -62.2% |
| Operating profit (loss) | 9901 | -€6,099 | -€13,500 | -€7,401 | -121.3% |
| Financial income | 75/76B | €388 | €632 | +€243 | +62.7% |
| Recurring financial income | 75 | €388 | €632 | +€243 | +62.7% |
| Financial charges | 65/66B | €1,287 | €927 | -€360 | -28.0% |
| Recurring financial charges | 65 | €1,287 | €927 | -€360 | -28.0% |
| Profit (loss) for the period before taxes | 9903 | -€6,998 | -€13,795 | -€6,797 | -97.1% |
| Income taxes | 67/77 | €1,382 | €1,269 | -€113 | -8.2% |
| Profit (loss) for the period | 9904 | -€8,380 | -€15,064 | -€6,684 | -79.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,380 | -€15,064 | -€6,684 | -79.8% |
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 9 October 2026 via checked.be.