ERCAL: 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.
ERCAL
Largest movements
- Tangible fixed assets -€5,819
down €5,819 (-27.9%), from €20,873 to €15,054
of which Leasing and similar rights: -€5,408
- Receivables within one year -€4,126
down €4,126 (-55.7%), from €7,411 to €3,285
of which Trade receivables: -€4,162
- Cash -€1,332
down €1,332 (-75.0%), from €1,775 to €443
mainly Net result for the year (-€7,463) and Debts after one year (-€4,493)
- Deferred charges and accrued income +€329
new in 2025: €329
- Profit (loss) carried forward -€7,463
down €7,463 (-144.2%), from -€5,175 to -€12,637
- Debts after one year -€4,493
down €4,493 (-35.3%), from €12,715 to €8,222
- Other debts +€2,495
up €2,495 (+1198.9%), from €208 to €2,703
- Tax, wage and social debts -€2,097
down €2,097 (-84.5%), from €2,480 to €383
- Trade debts +€410
up €410 (+77.3%), from €530 to €940
- Gross operating margin -€3,672
down €3,672 (-80.5%), from €4,560 to €888
- Taxes -€1,039
down €1,039 (-73.0%), from €1,423 to €383
- Depreciation -€422
down €422 (-6.6%), from €6,441 to €6,019
- Other operating charges +€307
up €307 (+40.9%), from €750 to €1,057
- Financial charges -€229
down €229 (-20.4%), from €1,120 to €892
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 | €30,558 | €19,410 | -€11,148 | -36.5% |
| Fixed assets | 21/28 | €21,371 | €15,352 | -€6,019 | -28.2% |
| Intangible fixed assets | 21 | €499 | €299 | -€200 | -40.1% |
| Tangible fixed assets | 22/27 | €20,873 | €15,054 | -€5,819 | -27.9% |
| Plant, machinery and equipment | 23 | €411 | - | -€411 | |
| Leasing and similar rights | 25 | €20,462 | €15,054 | -€5,408 | -26.4% |
| Current assets | 29/58 | €9,186 | €4,058 | -€5,129 | -55.8% |
| Amounts receivable within one year | 40/41 | €7,411 | €3,285 | -€4,126 | -55.7% |
| Trade receivables | 40 | €6,313 | €2,151 | -€4,162 | -65.9% |
| Other amounts receivable | 41 | €1,098 | €1,134 | +€36 | +3.3% |
| Cash at bank and in hand | 54/58 | €1,775 | €443 | -€1,332 | -75.0% |
| Deferred charges and accrued income | 490/1 | - | €329 | +€329 | |
| Total equity and liabilities | 10/49 | €30,558 | €19,410 | -€11,148 | -36.5% |
| Equity | 10/15 | €9,357 | €1,895 | -€7,463 | -79.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €13,532 | €13,532 | = | 0.0% |
| Distributable reserves | 133 | €13,532 | €13,532 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,175 | -€12,637 | -€7,463 | -144.2% |
| Amounts payable | 17/49 | €21,200 | €17,515 | -€3,685 | -17.4% |
| Amounts payable after more than one year | 17 | €12,715 | €8,222 | -€4,493 | -35.3% |
| Financial debts | 170/4 | €12,715 | €8,222 | -€4,493 | -35.3% |
| Amounts payable within one year | 42/48 | €8,486 | €9,294 | +€808 | +9.5% |
| Current portion of amounts payable after more than one year | 42 | €5,267 | €5,267 | = | 0.0% |
| Trade debts | 44 | €530 | €940 | +€410 | +77.3% |
| Suppliers | 440/4 | €530 | €940 | +€410 | +77.3% |
| Taxes, remuneration and social security | 45 | €2,480 | €383 | -€2,097 | -84.5% |
| Taxes | 450/3 | €2,480 | €383 | -€2,097 | -84.5% |
| Other amounts payable | 47/48 | €208 | €2,703 | +€2,495 | +1198.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,441 | €6,019 | -€422 | -6.6% |
| Other operating charges | 640/8 | €750 | €1,057 | +€307 | +40.9% |
| Gross operating margin | 9900 | €4,560 | €888 | -€3,672 | -80.5% |
| Operating profit (loss) | 9901 | -€2,631 | -€6,188 | -€3,556 | -135.1% |
| Financial charges | 65/66B | €1,120 | €892 | -€229 | -20.4% |
| Recurring financial charges | 65 | €1,120 | €892 | -€229 | -20.4% |
| Profit (loss) for the period before taxes | 9903 | -€3,752 | -€7,079 | -€3,327 | -88.7% |
| Income taxes | 67/77 | €1,423 | €383 | -€1,039 | -73.0% |
| Profit (loss) for the period | 9904 | -€5,175 | -€7,463 | -€2,288 | -44.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,175 | -€7,463 | -€2,288 | -44.2% |
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 28 September 2026 via checked.be.