Erbu: 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.
What changed
Erbu
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€7,566
2024 · €4,017+€3,549
Equity
€1.2m
2024 · €1.2m+€7,566
Cash
€17,359
2024 · €15,304+€2,055
Balance sheet total
€2.4m
2024 · €2.5m-€78,259
Largest movements
Assets
- Tangible fixed assets -€73,940
down €73,940 (-3.0%), from €2.5m to €2.4m
of which Land and buildings: -€58,380
Equity and liabilities
- Debts after one year -€71,393
down €71,393 (-6.8%), from €1.0m to €973,175
Income statement
- Gross operating margin +€2,896
up €2,896 (+2.5%), from €114,557 to €117,452
- Financial charges -€1,543
down €1,543 (-5.5%), from €27,943 to €26,400
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.
Result 2024
€4,017
Gross operating margin
+€2,896
Depreciation
-€671
Other operating charges
-€242
Financial income
+€7
Financial charges
+€1,543
Taxes
+€17
Result 2025
€7,566
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.
From operations
+€81,311
Investment
-€1,321
Financing
-€77,934
Cash 2024
€15,304
From operations (derived)
+€81,311
Net result for the year
+€7,566
Depreciation
+€75,262
Receivables within one year
+€2,237
Deferred charges and accrued income
+€4,137
Trade debts
-€20,747
Tax, wage and social debts
+€948
Other debts
+€11,726
Accrued charges and deferred income
+€182
Investment (derived)
-€1,321
Investment in fixed assets (net)
-€1,321
Financing
-€77,934
Debts after one year
-€71,393
Current portion of long-term debt
-€6,541
Cash 2025
€17,359
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,510,771 | €2,432,512 | -€78,259 | -3.1% |
| Fixed assets | 21/28 | €2,458,592 | €2,384,651 | -€73,940 | -3.0% |
| Tangible fixed assets | 22/27 | €2,458,592 | €2,384,651 | -€73,940 | -3.0% |
| Land and buildings | 22 | €2,441,808 | €2,383,428 | -€58,380 | -2.4% |
| Furniture and vehicles | 24 | €16,784 | €1,223 | -€15,560 | -92.7% |
| Current assets | 29/58 | €52,179 | €47,860 | -€4,319 | -8.3% |
| Amounts receivable within one year | 40/41 | €32,738 | €30,501 | -€2,237 | -6.8% |
| Trade receivables | 40 | €32,670 | €30,466 | -€2,204 | -6.7% |
| Other amounts receivable | 41 | €68 | €35 | -€33 | -48.4% |
| Cash at bank and in hand | 54/58 | €15,304 | €17,359 | +€2,055 | +13.4% |
| Deferred charges and accrued income | 490/1 | €4,137 | - | -€4,137 | |
| Total equity and liabilities | 10/49 | €2,510,771 | €2,432,512 | -€78,259 | -3.1% |
| Equity | 10/15 | €1,199,823 | €1,207,390 | +€7,566 | +0.6% |
| Contributions | 10/11 | €1,283,000 | €1,283,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€83,177 | -€75,610 | +€7,566 | +9.1% |
| Amounts payable | 17/49 | €1,310,947 | €1,225,122 | -€85,825 | -6.5% |
| Amounts payable after more than one year | 17 | €1,044,568 | €973,175 | -€71,393 | -6.8% |
| Financial debts | 170/4 | €1,044,568 | €973,175 | -€71,393 | -6.8% |
| Amounts payable within one year | 42/48 | €261,437 | €246,822 | -€14,615 | -5.6% |
| Current portion of amounts payable after more than one year | 42 | €77,934 | €71,393 | -€6,541 | -8.4% |
| Trade debts | 44 | €21,425 | €678 | -€20,747 | -96.8% |
| Suppliers | 440/4 | €21,425 | €678 | -€20,747 | -96.8% |
| Advances received on contracts in progress | 46 | €2,594 | €2,594 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €3,708 | €4,655 | +€948 | +25.6% |
| Taxes | 450/3 | €3,708 | €4,655 | +€948 | +25.6% |
| Other amounts payable | 47/48 | €155,777 | €167,502 | +€11,726 | +7.5% |
| Accrued charges and deferred income | 492/3 | €4,942 | €5,124 | +€182 | +3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,591 | €75,262 | +€671 | +0.9% |
| Other operating charges | 640/8 | €7,778 | €8,020 | +€242 | +3.1% |
| Gross operating margin | 9900 | €114,557 | €117,452 | +€2,896 | +2.5% |
| Operating profit (loss) | 9901 | €32,188 | €34,171 | +€1,983 | +6.2% |
| Financial income | 75/76B | €4 | €11 | +€7 | +181.5% |
| Recurring financial income | 75 | €4 | €11 | +€7 | +181.5% |
| Financial charges | 65/66B | €27,943 | €26,400 | -€1,543 | -5.5% |
| Recurring financial charges | 65 | €27,943 | €26,400 | -€1,543 | -5.5% |
| Profit (loss) for the period before taxes | 9903 | €4,249 | €7,781 | +€3,532 | +83.1% |
| Income taxes | 67/77 | €232 | €215 | -€17 | -7.3% |
| Profit (loss) for the period | 9904 | €4,017 | €7,566 | +€3,549 | +88.4% |
| Profit (loss) for the period to be appropriated | 9905 | €4,017 | €7,566 | +€3,549 | +88.4% |
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 8 October 2026 via checked.be.