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
- Receivables within one year -€342,836
down €342,836 (-73.8%), from €464,345 to €121,510
of which Other amounts receivable: -€302,966
- Cash +€102,637
up €102,637 (+15.4%), from €665,199 to €767,836
mainly Receivables within one year (+€342,836) and Net result for the year (+€180,163)
- Other debts -€193,727
down €193,727 (-42.2%), from €458,994 to €265,267
- Trade debts -€41,939
down €41,939 (-9.7%), from €433,577 to €391,638
- Gross operating margin -€77,635
down €77,635 (-5.4%), from €1.4m to €1.4m
- Staff costs +€45,668
up €45,668 (+4.4%), from €1.0m to €1.1m
- Other operating charges +€42,067
up €42,067 (+415.3%), from €10,129 to €52,196
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 | €1,188,948 | €953,672 | -€235,276 | -19.8% |
| Fixed assets | 21/28 | €18,511 | €24,385 | +€5,874 | +31.7% |
| Tangible fixed assets | 22/27 | €17,134 | €23,008 | +€5,874 | +34.3% |
| Plant, machinery and equipment | 23 | - | €1,265 | +€1,265 | |
| Furniture and vehicles | 24 | €17,134 | €21,744 | +€4,609 | +26.9% |
| Financial fixed assets | 28 | €1,376 | €1,376 | = | 0.0% |
| Current assets | 29/58 | €1,170,437 | €929,287 | -€241,150 | -20.6% |
| Stocks and contracts in progress | 3 | €29,449 | €27,651 | -€1,798 | -6.1% |
| Stocks | 30/36 | €29,449 | €27,651 | -€1,798 | -6.1% |
| Amounts receivable within one year | 40/41 | €464,345 | €121,510 | -€342,836 | -73.8% |
| Trade receivables | 40 | €112,741 | €72,872 | -€39,870 | -35.4% |
| Other amounts receivable | 41 | €351,604 | €48,638 | -€302,966 | -86.2% |
| Cash at bank and in hand | 54/58 | €665,199 | €767,836 | +€102,637 | +15.4% |
| Deferred charges and accrued income | 490/1 | €11,444 | €12,291 | +€847 | +7.4% |
| Total equity and liabilities | 10/49 | €1,188,948 | €953,672 | -€235,276 | -19.8% |
| Equity | 10/15 | €131,467 | €131,629 | +€163 | +0.1% |
| Contributions | 10/11 | €31,000 | €31,000 | = | 0.0% |
| Reserves | 13 | €100,467 | €100,629 | +€163 | +0.2% |
| Non-distributable reserves | 130/1 | €3,100 | €3,100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,100 | €3,100 | = | 0.0% |
| Tax-exempt reserves | 132 | €7,400 | €7,400 | = | 0.0% |
| Distributable reserves | 133 | €89,967 | €90,129 | +€163 | +0.2% |
| Amounts payable | 17/49 | €1,057,481 | €822,043 | -€235,438 | -22.3% |
| Amounts payable within one year | 42/48 | €1,056,208 | €822,043 | -€234,166 | -22.2% |
| Current portion of amounts payable after more than one year | 42 | €1,450 | - | -€1,450 | |
| Trade debts | 44 | €433,577 | €391,638 | -€41,939 | -9.7% |
| Suppliers | 440/4 | €433,577 | €391,638 | -€41,939 | -9.7% |
| Taxes, remuneration and social security | 45 | €162,187 | €165,137 | +€2,950 | +1.8% |
| Taxes | 450/3 | €7,922 | €2,823 | -€5,100 | -64.4% |
| Remuneration and social security | 454/9 | €154,265 | €162,315 | +€8,050 | +5.2% |
| Other amounts payable | 47/48 | €458,994 | €265,267 | -€193,727 | -42.2% |
| Accrued charges and deferred income | 492/3 | €1,273 | - | -€1,273 | |
| Remuneration, social security and pensions | 62 | €1,036,082 | €1,081,750 | +€45,668 | +4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,794 | €9,113 | +€4,319 | +90.1% |
| Other operating charges | 640/8 | €10,129 | €52,196 | +€42,067 | +415.3% |
| Gross operating margin | 9900 | €1,428,562 | €1,350,926 | -€77,635 | -5.4% |
| Operating profit (loss) | 9901 | €377,556 | €207,867 | -€169,689 | -44.9% |
| Financial income | 75/76B | €6,944 | €4,668 | -€2,277 | -32.8% |
| Recurring financial income | 75 | €6,944 | €4,668 | -€2,277 | -32.8% |
| Financial charges | 65/66B | €18,236 | €17,180 | -€1,056 | -5.8% |
| Recurring financial charges | 65 | €18,236 | €17,180 | -€1,056 | -5.8% |
| Profit (loss) for the period before taxes | 9903 | €366,264 | €195,354 | -€170,910 | -46.7% |
| Income taxes | 67/77 | €5,200 | €15,192 | +€9,992 | +192.2% |
| Profit (loss) for the period | 9904 | €361,065 | €180,163 | -€180,902 | -50.1% |
| Profit (loss) for the period to be appropriated | 9905 | €361,065 | €180,163 | -€180,902 | -50.1% |
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 3 October 2026 via checked.be.