ERCOLAND: 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.
ERCOLAND
Largest movements
- Cash -€2.3m
down €2.3m (-86.6%), from €2.6m to €350,951
mainly Other debts (-€1.8m) and Investment in fixed assets (net) (-€1.2m)
- Financial fixed assets +€1.1m
up €1.1m (+29.9%), from €3.9m to €5.0m
- Tangible fixed assets -€401,653
down €401,653 (-2.6%), from €15.3m to €14.9m
- Other debts -€1.8m
down €1.8m (-85.8%), from €2.1m to €300,000
- Profit (loss) carried forward +€512,124
up €512,124 (+128.7%), from €397,959 to €910,083
- Financial income +€618,666
up €618,666 (+176.4%), from €350,799 to €969,465
- Financial charges -€79,054
down €79,054 (-93.0%), from €84,962 to €5,907
- Depreciation +€9,222
up €9,222 (+2.0%), from €452,555 to €461,777
- Other operating charges -€5,135
down €5,135 (-24.3%), from €21,165 to €16,030
- Gross operating margin -€4,365
down €4,365 (-14.2%), from €30,739 to €26,374
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 | €21,846,733 | €20,411,927 | -€1.4m | -6.6% |
| Fixed assets | 21/28 | €19,110,904 | €19,858,906 | +€748,002 | +3.9% |
| Tangible fixed assets | 22/27 | €15,260,106 | €14,858,452 | -€401,653 | -2.6% |
| Land and buildings | 22 | €15,025,324 | €14,827,049 | -€198,276 | -1.3% |
| Plant, machinery and equipment | 23 | €15,275 | €8,946 | -€6,329 | -41.4% |
| Furniture and vehicles | 24 | €26,160 | €22,458 | -€3,702 | -14.2% |
| Assets under construction and advance payments | 27 | €193,346 | €0 | -€193,346 | -100.0% |
| Financial fixed assets | 28 | €3,850,798 | €5,000,454 | +€1.1m | +29.9% |
| Current assets | 29/58 | €2,735,829 | €553,021 | -€2.2m | -79.8% |
| Amounts receivable within one year | 40/41 | €35,491 | €111,624 | +€76,133 | +214.5% |
| Other amounts receivable | 41 | €35,491 | €111,624 | +€76,133 | +214.5% |
| Cash at bank and in hand | 54/58 | €2,610,148 | €350,951 | -€2.3m | -86.6% |
| Deferred charges and accrued income | 490/1 | €90,190 | €90,446 | +€256 | +0.3% |
| Total equity and liabilities | 10/49 | €21,846,733 | €20,411,927 | -€1.4m | -6.6% |
| Equity | 10/15 | €19,571,095 | €20,083,219 | +€512,124 | +2.6% |
| Contributions | 10/11 | €17,505,508 | €17,505,508 | = | 0.0% |
| Reserves | 13 | €1,667,628 | €1,667,628 | = | 0.0% |
| Distributable reserves | 133 | €1,667,628 | €1,667,628 | = | 0.0% |
| Profit (loss) carried forward | 14 | €397,959 | €910,083 | +€512,124 | +128.7% |
| Amounts payable | 17/49 | €2,275,639 | €328,708 | -€1.9m | -85.6% |
| Amounts payable within one year | 42/48 | €2,183,702 | €321,479 | -€1.9m | -85.3% |
| Trade debts | 44 | €76,091 | €21,479 | -€54,612 | -71.8% |
| Suppliers | 440/4 | €76,091 | €21,479 | -€54,612 | -71.8% |
| Other amounts payable | 47/48 | €2,107,611 | €300,000 | -€1.8m | -85.8% |
| Accrued charges and deferred income | 492/3 | €91,937 | €7,229 | -€84,708 | -92.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €452,555 | €461,777 | +€9,222 | +2.0% |
| Other operating charges | 640/8 | €21,165 | €16,030 | -€5,135 | -24.3% |
| Gross operating margin | 9900 | €30,739 | €26,374 | -€4,365 | -14.2% |
| Operating profit (loss) | 9901 | -€442,981 | -€451,433 | -€8,453 | -1.9% |
| Financial income | 75/76B | €350,799 | €969,465 | +€618,666 | +176.4% |
| Recurring financial income | 75 | €350,799 | €370,819 | +€20,020 | +5.7% |
| Non-recurring financial income | 76B | €350,799 | €598,646 | +€247,847 | +70.7% |
| Financial charges | 65/66B | €84,962 | €5,907 | -€79,054 | -93.0% |
| Recurring financial charges | 65 | €84,962 | €5,907 | -€79,054 | -93.0% |
| Profit (loss) for the period before taxes | 9903 | -€177,144 | €512,124 | +€689,268 | |
| Profit (loss) for the period | 9904 | -€177,144 | €512,124 | +€689,268 | |
| Profit (loss) for the period to be appropriated | 9905 | -€177,144 | €512,124 | +€689,268 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.