ERCA: 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.
ERCA
Largest movements
- Receivables within one year +€34,085
up €34,085 (+92.2%), from €36,980 to €71,064
of which Trade receivables: +€37,945
- Tangible fixed assets -€23,734
down €23,734 (-27.2%), from €87,375 to €63,641
of which Furniture and vehicles: -€19,803
- Cash -€20,399
down €20,399 (-66.7%), from €30,576 to €10,177
mainly Receivables within one year (-€34,085) and Debts after one year (-€9,233)
- Debts after one year -€9,233
down €9,233 (-85.4%), from €10,809 to €1,576
- Trade debts +€8,325
up €8,325 (+54.7%), from €15,224 to €23,548
- Other debts -€6,838
down €6,838 (-12.2%), from €56,195 to €49,357
- Gross operating margin -€9,802
down €9,802 (-22.8%), from €42,987 to €33,185
- Taxes -€2,198
down €2,198 (-60.0%), from €3,662 to €1,464
- Depreciation +€1,086
up €1,086 (+4.1%), from €26,209 to €27,295
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 | €172,085 | €164,006 | -€8,080 | -4.7% |
| Fixed assets | 21/28 | €87,375 | €63,641 | -€23,734 | -27.2% |
| Tangible fixed assets | 22/27 | €87,375 | €63,641 | -€23,734 | -27.2% |
| Land and buildings | 22 | €27,355 | €25,674 | -€1,681 | -6.1% |
| Plant, machinery and equipment | 23 | €13,095 | €10,845 | -€2,251 | -17.2% |
| Furniture and vehicles | 24 | €46,925 | €27,123 | -€19,803 | -42.2% |
| Current assets | 29/58 | €84,710 | €100,365 | +€15,654 | +18.5% |
| Stocks and contracts in progress | 3 | €8,414 | €9,407 | +€993 | +11.8% |
| Stocks | 30/36 | €8,414 | €9,407 | +€993 | +11.8% |
| Amounts receivable within one year | 40/41 | €36,980 | €71,064 | +€34,085 | +92.2% |
| Trade receivables | 40 | €24,017 | €61,961 | +€37,945 | +158.0% |
| Other amounts receivable | 41 | €12,963 | €9,103 | -€3,860 | -29.8% |
| Cash at bank and in hand | 54/58 | €30,576 | €10,177 | -€20,399 | -66.7% |
| Deferred charges and accrued income | 490/1 | €8,741 | €9,716 | +€975 | +11.2% |
| Total equity and liabilities | 10/49 | €172,085 | €164,006 | -€8,080 | -4.7% |
| Equity | 10/15 | €80,738 | €80,153 | -€585 | -0.7% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €64,121 | €64,121 | = | 0.0% |
| Distributable reserves | 133 | €64,121 | €64,121 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,933 | -€2,518 | -€585 | -30.3% |
| Amounts payable | 17/49 | €91,347 | €83,852 | -€7,495 | -8.2% |
| Amounts payable after more than one year | 17 | €10,809 | €1,576 | -€9,233 | -85.4% |
| Financial debts | 170/4 | €10,809 | €1,576 | -€9,233 | -85.4% |
| Amounts payable within one year | 42/48 | €80,538 | €82,276 | +€1,738 | +2.2% |
| Current portion of amounts payable after more than one year | 42 | €8,861 | €9,233 | +€372 | +4.2% |
| Trade debts | 44 | €15,224 | €23,548 | +€8,325 | +54.7% |
| Suppliers | 440/4 | €15,224 | €23,548 | +€8,325 | +54.7% |
| Taxes, remuneration and social security | 45 | €258 | €138 | -€120 | -46.5% |
| Taxes | 450/3 | €258 | €138 | -€120 | -46.5% |
| Other amounts payable | 47/48 | €56,195 | €49,357 | -€6,838 | -12.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,209 | €27,295 | +€1,086 | +4.1% |
| Other operating charges | 640/8 | €4,331 | €4,375 | +€45 | +1.0% |
| Gross operating margin | 9900 | €42,987 | €33,185 | -€9,802 | -22.8% |
| Operating profit (loss) | 9901 | €12,447 | €1,515 | -€10,933 | -87.8% |
| Financial income | 75/76B | €439 | €525 | +€86 | +19.6% |
| Recurring financial income | 75 | €439 | €525 | +€86 | +19.6% |
| Financial charges | 65/66B | €1,339 | €1,161 | -€177 | -13.3% |
| Recurring financial charges | 65 | €1,339 | €1,161 | -€177 | -13.3% |
| Profit (loss) for the period before taxes | 9903 | €11,548 | €879 | -€10,669 | -92.4% |
| Income taxes | 67/77 | €3,662 | €1,464 | -€2,198 | -60.0% |
| Profit (loss) for the period | 9904 | €7,886 | -€585 | -€8,471 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,886 | -€585 | -€8,471 |
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 12 October 2026 via checked.be.