ERC BELGIUM: 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.
What changed
ERC BELGIUM
NACE 72.101, Research and development on biotechnology
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€574,631
2024 · -€215,987+€790,618
Equity
€2.5m
2024 · €2.0m+€574,631
Cash
€98
2024 · €246-€148
Balance sheet total
€11.6m
2024 · €10.6m+€1.0m
Largest movements
Assets
- Receivables within one year +€1.8m
up €1.8m (+272%), from €646,850 to €2.4m
of which Trade receivables: +€1.5m
- Intangible fixed assets -€732,303
down €732,303 (-11.6%), from €6.3m to €5.6m
Equity and liabilities
- Profit (loss) carried forward +€545,899
up €545,899, from -€472,825 to €73,074
- Other debts +€477,191
up €477,191 (+14.9%), from €3.2m to €3.7m
Income statement
- Turnover +€1.5m
new in 2025: €1.5m
- Gross operating margin +€896,048
up €896,048 (+101%), from €882,909 to €1.8m
- Purchases and services +€274,360
new in 2025: €274,360
- Staff costs -€94,501
down €94,501 (-49.8%), from €189,802 to €95,301
- Financial income -€58,389
down €58,389 (-72.6%), from €80,440 to €22,051
of which Non-recurring financial income: -€71,401
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
-€215,987
Gross operating margin
+€896,048
Staff costs
+€94,501
Depreciation
+€18,855
Other operating charges
+€9,070
Other operating items
-€174,917
Financial income
-€58,389
Financial charges
+€5,600
Taxes
-€151
Result 2025
€574,631
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€45,264
Investment
-€45,400
Financing
-€12
Cash 2024
€246
From operations (derived)
+€45,264
Net result for the year
+€574,631
Depreciation
+€785,199
Receivables within one year
-€1.8m
Trade debts
+€85,951
Tax, wage and social debts
-€115,857
Other debts
+€477,191
Accrued charges and deferred income
+€0
Investment (derived)
-€45,400
Investment in fixed assets (net)
-€45,400
Financing
-€12
Short-term financial debts
-€12
Contributions, distributions and other
+€0
Cash 2025
€98
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,565,486 | €11,587,390 | +€1.0m | +9.7% |
| Fixed assets | 21/28 | €9,918,390 | €9,178,592 | -€739,799 | -7.5% |
| Intangible fixed assets | 21 | €6,327,134 | €5,594,831 | -€732,303 | -11.6% |
| Tangible fixed assets | 22/27 | €3,475,518 | €3,468,023 | -€7,495 | -0.2% |
| Furniture and vehicles | 24 | €7,087 | - | -€7,087 | |
| Other tangible fixed assets | 26 | €3,468,431 | €3,468,023 | -€408 | 0.0% |
| Financial fixed assets | 28 | €115,738 | €115,738 | = | 0.0% |
| Current assets | 29/58 | €647,096 | €2,408,799 | +€1.8m | +272% |
| Amounts receivable within one year | 40/41 | €646,850 | €2,408,701 | +€1.8m | +272% |
| Trade receivables | 40 | €27,683 | €1,571,485 | +€1.5m | +5,577% |
| Other amounts receivable | 41 | €619,167 | €837,216 | +€218,049 | +35.2% |
| Cash at bank and in hand | 54/58 | €246 | €98 | -€148 | -60.1% |
| Total equity and liabilities | 10/49 | €10,565,486 | €11,587,390 | +€1.0m | +9.7% |
| Equity | 10/15 | €1,964,129 | €2,538,760 | +€574,631 | +29.3% |
| Contributions | 10/11 | €2,377,000 | €2,377,000 | +€0 | 0.0% |
| Capital | 10 | €2,377,000 | €2,377,000 | +€0 | 0.0% |
| Issued capital | 100 | €2,377,000 | €2,377,000 | +€0 | 0.0% |
| Reserves | 13 | €59,954 | €88,685 | +€28,732 | +47.9% |
| Non-distributable reserves | 130/1 | €59,954 | €88,685 | +€28,732 | +47.9% |
| Legal reserve | 130 | €59,954 | €88,685 | +€28,732 | +47.9% |
| Profit (loss) carried forward | 14 | -€472,825 | €73,074 | +€545,899 | |
| Amounts payable | 17/49 | €8,601,358 | €9,048,631 | +€447,273 | +5.2% |
| Amounts payable after more than one year | 17 | €1,466,901 | €1,466,901 | = | 0.0% |
| Financial debts | 170/4 | €1,466,901 | €1,466,901 | = | 0.0% |
| Amounts payable within one year | 42/48 | €7,086,039 | €7,533,312 | +€447,273 | +6.3% |
| Financial debts | 43 | €12 | - | -€12 | |
| Credit institutions | 430/8 | €12 | - | -€12 | |
| Trade debts | 44 | €3,671,094 | €3,757,046 | +€85,951 | +2.3% |
| Suppliers | 440/4 | €3,671,094 | €3,757,046 | +€85,951 | +2.3% |
| Taxes, remuneration and social security | 45 | €219,874 | €104,017 | -€115,857 | -52.7% |
| Taxes | 450/3 | €165,617 | €82,663 | -€82,954 | -50.1% |
| Remuneration and social security | 454/9 | €54,257 | €21,354 | -€32,903 | -60.6% |
| Other amounts payable | 47/48 | €3,195,059 | €3,672,250 | +€477,191 | +14.9% |
| Accrued charges and deferred income | 492/3 | €48,418 | €48,418 | +€0 | 0.0% |
| Turnover | 70 | - | €1,544,529 | +€1.5m | |
| Non-recurring operating income | 76A | €577,007 | €488,792 | -€88,214 | -15.3% |
| Goods, raw materials, services and sundry goods | 60/61 | - | €274,360 | +€274,360 | |
| Remuneration, social security and pensions | 62 | €189,802 | €95,301 | -€94,501 | -49.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €804,053 | €785,199 | -€18,855 | -2.3% |
| Other operating charges | 640/8 | €14,880 | €5,810 | -€9,070 | -61.0% |
| Non-recurring operating charges | 66A | €26,906 | €201,823 | +€174,917 | +650% |
| Gross operating margin | 9900 | €882,909 | €1,778,958 | +€896,048 | +101% |
| Operating profit (loss) | 9901 | -€152,732 | €690,826 | +€843,557 | |
| Financial income | 75/76B | €80,440 | €22,051 | -€58,389 | -72.6% |
| Recurring financial income | 75 | €9,039 | €22,051 | +€13,012 | +144% |
| Non-recurring financial income | 76B | €71,401 | - | -€71,401 | |
| Financial charges | 65/66B | €143,290 | €137,690 | -€5,600 | -3.9% |
| Recurring financial charges | 65 | €143,290 | €137,690 | -€5,600 | -3.9% |
| Profit (loss) for the period before taxes | 9903 | -€215,581 | €575,187 | +€790,768 | |
| Income taxes | 67/77 | €405 | €556 | +€151 | +37.2% |
| Profit (loss) for the period | 9904 | -€215,987 | €574,631 | +€790,618 | |
| Profit (loss) for the period to be appropriated | 9905 | -€215,987 | €574,631 | +€790,618 |
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 25 October 2026 via checked.be.