ERD CONSULT: 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.
ERD CONSULT
Largest movements
- Current investments +€36,000
up €36,000 (+63.2%), from €57,000 to €93,000
- Receivables within one year -€15,324
down €15,324 (-94.2%), from €16,268 to €944
of which Trade receivables: -€15,713
- Cash +€8,975
up €8,975 (+3.6%), from €249,459 to €258,434
mainly Net result for the year (+€64,855) and Receivables within one year (+€15,324)
- Tangible fixed assets +€6,644
up €6,644 (+806.3%), from €824 to €7,468
of which Plant, machinery and equipment: +€3,813
- Profit (loss) carried forward +€64,855
up €64,855 (+24.4%), from €265,380 to €330,235
- Tax, wage and social debts -€22,907
down €22,907 (-44.6%), from €51,385 to €28,478
- Gross operating margin -€98,450
down €98,450 (-54.5%), from €180,657 to €82,207
- Taxes -€23,821
down €23,821 (-57.1%), from €41,729 to €17,908
- Financial income +€4,148
up €4,148 (+587.5%), from €706 to €4,854
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 | €323,700 | €362,496 | +€38,796 | +12.0% |
| Fixed assets | 21/28 | €824 | €7,468 | +€6,644 | +806.3% |
| Tangible fixed assets | 22/27 | €824 | €7,468 | +€6,644 | +806.3% |
| Plant, machinery and equipment | 23 | - | €3,813 | +€3,813 | |
| Furniture and vehicles | 24 | €824 | €3,655 | +€2,831 | +343.6% |
| Current assets | 29/58 | €322,876 | €355,028 | +€32,152 | +10.0% |
| Amounts receivable within one year | 40/41 | €16,268 | €944 | -€15,324 | -94.2% |
| Trade receivables | 40 | €16,258 | €545 | -€15,713 | -96.6% |
| Other amounts receivable | 41 | €10 | €399 | +€389 | +3890.0% |
| Current investments | 50/53 | €57,000 | €93,000 | +€36,000 | +63.2% |
| Cash at bank and in hand | 54/58 | €249,459 | €258,434 | +€8,975 | +3.6% |
| Deferred charges and accrued income | 490/1 | €149 | €2,650 | +€2,501 | +1678.5% |
| Total equity and liabilities | 10/49 | €323,700 | €362,496 | +€38,796 | +12.0% |
| Equity | 10/15 | €266,380 | €331,235 | +€64,855 | +24.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €265,380 | €330,235 | +€64,855 | +24.4% |
| Amounts payable | 17/49 | €57,320 | €31,261 | -€26,059 | -45.5% |
| Amounts payable within one year | 42/48 | €57,172 | €31,261 | -€25,911 | -45.3% |
| Trade debts | 44 | €4,040 | €1,924 | -€2,116 | -52.4% |
| Suppliers | 440/4 | €4,040 | €1,924 | -€2,116 | -52.4% |
| Taxes, remuneration and social security | 45 | €51,385 | €28,478 | -€22,907 | -44.6% |
| Taxes | 450/3 | €51,385 | €28,478 | -€22,907 | -44.6% |
| Other amounts payable | 47/48 | €1,747 | €859 | -€888 | -50.8% |
| Accrued charges and deferred income | 492/3 | €148 | - | -€148 | |
| Remuneration, social security and pensions | 62 | €426 | €742 | +€316 | +74.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €427 | €1,695 | +€1,268 | +297.0% |
| Other operating charges | 640/8 | €676 | €565 | -€111 | -16.4% |
| Gross operating margin | 9900 | €180,657 | €82,207 | -€98,450 | -54.5% |
| Operating profit (loss) | 9901 | €179,128 | €79,205 | -€99,923 | -55.8% |
| Financial income | 75/76B | €706 | €4,854 | +€4,148 | +587.5% |
| Recurring financial income | 75 | €706 | €4,854 | +€4,148 | +587.5% |
| Financial charges | 65/66B | €1,924 | €1,296 | -€628 | -32.6% |
| Recurring financial charges | 65 | €1,924 | €1,296 | -€628 | -32.6% |
| Profit (loss) for the period before taxes | 9903 | €177,910 | €82,763 | -€95,147 | -53.5% |
| Income taxes | 67/77 | €41,729 | €17,908 | -€23,821 | -57.1% |
| Profit (loss) for the period | 9904 | €136,181 | €64,855 | -€71,326 | -52.4% |
| Profit (loss) for the period to be appropriated | 9905 | €136,181 | €64,855 | -€71,326 | -52.4% |
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 29 September 2026 via checked.be.