Erca: 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.
Erca
Largest movements
- Cash -€13,642
down €13,642 (-65.9%), from €20,699 to €7,057
mainly Other debts (-€23,238) and Receivables within one year (-€12,641)
- Receivables within one year +€12,641
up €12,641 (+4.8%), from €261,450 to €274,091
- Stocks and contracts -€5,235
down €5,235 (-9.9%), from €52,694 to €47,459
- Tangible fixed assets -€4,361
down €4,361 (-35.0%), from €12,466 to €8,104
of which Furniture and vehicles: -€3,936
- Trade debts +€25,089
up €25,089 (+123.3%), from €20,348 to €45,436
- Other debts -€23,238
down €23,238 (-11.9%), from €195,938 to €172,701
- Reserves -€12,236
down €12,236 (-23.8%), from €51,349 to €39,113
of which Distributable reserves: -€12,236
- Gross operating margin +€19,772
up €19,772 (+96.3%), from €20,530 to €40,302
- Staff costs +€4,237
up €4,237 (+10.6%), from €40,153 to €44,390
- Depreciation -€3,436
down €3,436 (-37.5%), from €9,161 to €5,724
- Financial charges -€428
down €428 (-19.2%), from €2,230 to €1,801
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 | €348,784 | €338,015 | -€10,769 | -3.1% |
| Fixed assets | 21/28 | €12,466 | €8,104 | -€4,361 | -35.0% |
| Tangible fixed assets | 22/27 | €12,466 | €8,104 | -€4,361 | -35.0% |
| Land and buildings | 22 | €4,527 | €3,832 | -€696 | -15.4% |
| Plant, machinery and equipment | 23 | €2,405 | €2,676 | +€271 | +11.2% |
| Furniture and vehicles | 24 | €5,533 | €1,597 | -€3,936 | -71.1% |
| Current assets | 29/58 | €336,318 | €329,911 | -€6,407 | -1.9% |
| Stocks and contracts in progress | 3 | €52,694 | €47,459 | -€5,235 | -9.9% |
| Stocks | 30/36 | €52,694 | €47,459 | -€5,235 | -9.9% |
| Amounts receivable within one year | 40/41 | €261,450 | €274,091 | +€12,641 | +4.8% |
| Trade receivables | 40 | €261,450 | €274,091 | +€12,641 | +4.8% |
| Cash at bank and in hand | 54/58 | €20,699 | €7,057 | -€13,642 | -65.9% |
| Deferred charges and accrued income | 490/1 | €1,475 | €1,304 | -€172 | -11.6% |
| Total equity and liabilities | 10/49 | €348,784 | €338,015 | -€10,769 | -3.1% |
| Equity | 10/15 | €121,503 | €109,267 | -€12,236 | -10.1% |
| Contributions | 10/11 | €70,154 | €70,154 | = | 0.0% |
| Reserves | 13 | €51,349 | €39,113 | -€12,236 | -23.8% |
| Non-distributable reserves | 130/1 | €7,015 | €7,015 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,015 | €7,015 | = | 0.0% |
| Distributable reserves | 133 | €44,333 | €32,098 | -€12,236 | -27.6% |
| Amounts payable | 17/49 | €227,281 | €228,748 | +€1,467 | +0.6% |
| Amounts payable within one year | 42/48 | €227,281 | €228,748 | +€1,467 | +0.6% |
| Current portion of amounts payable after more than one year | 42 | €2,265 | - | -€2,265 | |
| Trade debts | 44 | €20,348 | €45,436 | +€25,089 | +123.3% |
| Suppliers | 440/4 | €20,348 | €45,436 | +€25,089 | +123.3% |
| Taxes, remuneration and social security | 45 | €8,731 | €10,612 | +€1,881 | +21.5% |
| Taxes | 450/3 | €1,417 | €104 | -€1,313 | -92.7% |
| Remuneration and social security | 454/9 | €7,314 | €10,508 | +€3,194 | +43.7% |
| Other amounts payable | 47/48 | €195,938 | €172,701 | -€23,238 | -11.9% |
| Remuneration, social security and pensions | 62 | €40,153 | €44,390 | +€4,237 | +10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,161 | €5,724 | -€3,436 | -37.5% |
| Other operating charges | 640/8 | €934 | €636 | -€298 | -31.9% |
| Gross operating margin | 9900 | €20,530 | €40,302 | +€19,772 | +96.3% |
| Operating profit (loss) | 9901 | -€29,718 | -€10,449 | +€19,269 | +64.8% |
| Financial income | 75/76B | €7 | €14 | +€8 | +113.1% |
| Recurring financial income | 75 | €7 | €14 | +€8 | +113.1% |
| Financial charges | 65/66B | €2,230 | €1,801 | -€428 | -19.2% |
| Recurring financial charges | 65 | €2,230 | €1,801 | -€428 | -19.2% |
| Profit (loss) for the period before taxes | 9903 | -€31,941 | -€12,236 | +€19,705 | +61.7% |
| Profit (loss) for the period | 9904 | -€31,941 | -€12,236 | +€19,705 | +61.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€31,941 | -€12,236 | +€19,705 | +61.7% |
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.