ERBA: 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.
ERBA
Largest movements
- Cash +€1.5m
up €1.5m (+190.9%), from €770,340 to €2.2m
mainly Current investments (+€899,984) and Net result for the year (+€428,314)
- Current investments -€899,984
down €899,984 (-99.6%), from €903,948 to €3,964
- Receivables within one year -€356,591
down €356,591 (-50.0%), from €713,030 to €356,439
of which Trade receivables: -€282,253
- Tangible fixed assets -€133,520
down €133,520 (-12.8%), from €1.0m to €909,325
of which Furniture and vehicles: -€90,062
- Stocks and contracts -€75,824
down €75,824 (-14.0%), from €542,983 to €467,159
of which Stocks: -€128,206
- Reserves +€134,327
up €134,327 (+4.3%), from €3.2m to €3.3m
of which Distributable reserves: +€134,327
- Debts after one year -€89,538
down €89,538 (-44.0%), from €203,283 to €113,746
- Short-term financial debts -€50,819
down €50,819 (-60.2%), from €84,462 to €33,643
- Gross operating margin +€255,536
up €255,536 (+7.0%), from €3.6m to €3.9m
- Staff costs +€190,332
up €190,332 (+6.6%), from €2.9m to €3.1m
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 | €3,976,340 | €3,979,674 | +€3,334 | +0.1% |
| Fixed assets | 21/28 | €1,046,039 | €911,462 | -€134,576 | -12.9% |
| Intangible fixed assets | 21 | €1,056 | - | -€1,056 | |
| Tangible fixed assets | 22/27 | €1,042,845 | €909,325 | -€133,520 | -12.8% |
| Land and buildings | 22 | €511,283 | €470,776 | -€40,507 | -7.9% |
| Plant, machinery and equipment | 23 | €49,296 | €46,345 | -€2,952 | -6.0% |
| Furniture and vehicles | 24 | €482,266 | €392,204 | -€90,062 | -18.7% |
| Financial fixed assets | 28 | €2,138 | €2,138 | = | 0.0% |
| Current assets | 29/58 | €2,930,302 | €3,068,212 | +€137,911 | +4.7% |
| Stocks and contracts in progress | 3 | €542,983 | €467,159 | -€75,824 | -14.0% |
| Stocks | 30/36 | €502,484 | €374,278 | -€128,206 | -25.5% |
| Contracts in progress | 37 | €40,499 | €92,882 | +€52,383 | +129.3% |
| Amounts receivable within one year | 40/41 | €713,030 | €356,439 | -€356,591 | -50.0% |
| Trade receivables | 40 | €568,762 | €286,508 | -€282,253 | -49.6% |
| Other amounts receivable | 41 | €144,268 | €69,931 | -€74,337 | -51.5% |
| Current investments | 50/53 | €903,948 | €3,964 | -€899,984 | -99.6% |
| Cash at bank and in hand | 54/58 | €770,340 | €2,240,650 | +€1.5m | +190.9% |
| Total equity and liabilities | 10/49 | €3,976,340 | €3,979,674 | +€3,334 | +0.1% |
| Equity | 10/15 | €3,214,180 | €3,348,507 | +€134,327 | +4.2% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €3,152,680 | €3,287,007 | +€134,327 | +4.3% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €3,146,530 | €3,280,857 | +€134,327 | +4.3% |
| Amounts payable | 17/49 | €762,160 | €631,168 | -€130,993 | -17.2% |
| Amounts payable after more than one year | 17 | €203,283 | €113,746 | -€89,538 | -44.0% |
| Financial debts | 170/4 | €203,283 | €113,746 | -€89,538 | -44.0% |
| Amounts payable within one year | 42/48 | €500,716 | €494,667 | -€6,049 | -1.2% |
| Current portion of amounts payable after more than one year | 42 | €98,868 | €89,538 | -€9,330 | -9.4% |
| Financial debts | 43 | €84,462 | €33,643 | -€50,819 | -60.2% |
| Credit institutions | 430/8 | €84,462 | €33,643 | -€50,819 | -60.2% |
| Trade debts | 44 | €202,341 | €234,029 | +€31,689 | +15.7% |
| Suppliers | 440/4 | €202,341 | €234,029 | +€31,689 | +15.7% |
| Taxes, remuneration and social security | 45 | €114,890 | €137,458 | +€22,567 | +19.6% |
| Taxes | 450/3 | - | €25,848 | +€25,848 | |
| Remuneration and social security | 454/9 | €114,890 | €111,609 | -€3,281 | -2.9% |
| Other amounts payable | 47/48 | €156 | - | -€156 | |
| Accrued charges and deferred income | 492/3 | €58,161 | €22,754 | -€35,406 | -60.9% |
| Remuneration, social security and pensions | 62 | €2,901,040 | €3,091,373 | +€190,332 | +6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €230,399 | €242,635 | +€12,236 | +5.3% |
| Other operating charges | 640/8 | €14,743 | €12,952 | -€1,791 | -12.1% |
| Gross operating margin | 9900 | €3,633,849 | €3,889,386 | +€255,536 | +7.0% |
| Operating profit (loss) | 9901 | €487,667 | €542,426 | +€54,759 | +11.2% |
| Financial income | 75/76B | €125,510 | €105,151 | -€20,359 | -16.2% |
| Recurring financial income | 75 | €125,510 | €105,151 | -€20,359 | -16.2% |
| Financial charges | 65/66B | €12,000 | €6,305 | -€5,695 | -47.5% |
| Recurring financial charges | 65 | €12,000 | €6,305 | -€5,695 | -47.5% |
| Profit (loss) for the period before taxes | 9903 | €601,177 | €641,272 | +€40,094 | +6.7% |
| Income taxes | 67/77 | €198,050 | €212,958 | +€14,909 | +7.5% |
| Profit (loss) for the period | 9904 | €403,128 | €428,314 | +€25,186 | +6.2% |
| Profit (loss) for the period to be appropriated | 9905 | €403,128 | €428,314 | +€25,186 | +6.2% |
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 1 October 2026 via checked.be.