ERDA: 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.
ERDA
Largest movements
- Cash +€43,680
up €43,680 (+76.1%), from €57,374 to €101,054
mainly Net result for the year (+€51,490) and Current portion of long-term debt (+€26,896)
- Receivables within one year +€15,571
new in 2025: €15,571
of which Other amounts receivable: +€13,619
- Intangible fixed assets -€10,972
down €10,972 (-13.1%), from €84,027 to €73,055
- Tangible fixed assets -€9,397
down €9,397 (-21.4%), from €43,904 to €34,508
of which Plant, machinery and equipment: -€8,000
- Other debts -€75,485
no longer reported in 2025 (was €75,485)
- Profit (loss) carried forward +€51,490
up €51,490 (+70.4%), from €73,131 to €124,621
- Current portion of long-term debt +€26,896
new in 2025: €26,896
- Debts after one year +€18,322
new in 2025: €18,322
- Tax, wage and social debts +€17,962
up €17,962 (+93.2%), from €19,279 to €37,241
of which Taxes: +€15,914
- Staff costs +€46,106
up €46,106 (+321%), from €14,372 to €60,478
- Gross operating margin +€37,068
up €37,068 (+32.8%), from €113,077 to €150,145
- Depreciation +€15,863
up €15,863 (+299%), from €5,304 to €21,167
- Taxes -€5,282
down €5,282 (-28.8%), from €18,326 to €13,045
- Financial charges +€2,779
up €2,779 (+9,772%), from €28 to €2,808
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.
Derived cash bridge
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 | €185,305 | €224,188 | +€38,883 | +21.0% |
| Fixed assets | 21/28 | €127,931 | €107,563 | -€20,369 | -15.9% |
| Intangible fixed assets | 21 | €84,027 | €73,055 | -€10,972 | -13.1% |
| Tangible fixed assets | 22/27 | €43,904 | €34,508 | -€9,397 | -21.4% |
| Plant, machinery and equipment | 23 | €35,962 | €27,962 | -€8,000 | -22.2% |
| Furniture and vehicles | 24 | €7,943 | €6,546 | -€1,397 | -17.6% |
| Current assets | 29/58 | €57,374 | €116,625 | +€59,251 | +103% |
| Amounts receivable within one year | 40/41 | - | €15,571 | +€15,571 | |
| Trade receivables | 40 | - | €1,952 | +€1,952 | |
| Other amounts receivable | 41 | - | €13,619 | +€13,619 | |
| Cash at bank and in hand | 54/58 | €57,374 | €101,054 | +€43,680 | +76.1% |
| Total equity and liabilities | 10/49 | €185,305 | €224,188 | +€38,883 | +21.0% |
| Equity | 10/15 | €77,131 | €128,621 | +€51,490 | +66.8% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €73,131 | €124,621 | +€51,490 | +70.4% |
| Amounts payable | 17/49 | €108,174 | €95,567 | -€12,607 | -11.7% |
| Amounts payable after more than one year | 17 | - | €18,322 | +€18,322 | |
| Financial debts | 170/4 | - | €18,322 | +€18,322 | |
| Amounts payable within one year | 42/48 | €108,174 | €71,994 | -€36,180 | -33.4% |
| Current portion of amounts payable after more than one year | 42 | - | €26,896 | +€26,896 | |
| Trade debts | 44 | €13,411 | €7,856 | -€5,554 | -41.4% |
| Suppliers | 440/4 | €13,411 | €7,856 | -€5,554 | -41.4% |
| Taxes, remuneration and social security | 45 | €19,279 | €37,241 | +€17,962 | +93.2% |
| Taxes | 450/3 | €19,279 | €35,193 | +€15,914 | +82.5% |
| Remuneration and social security | 454/9 | - | €2,048 | +€2,048 | |
| Other amounts payable | 47/48 | €75,485 | - | -€75,485 | |
| Accrued charges and deferred income | 492/3 | - | €5,251 | +€5,251 | |
| Non-recurring operating income | 76A | - | €521 | +€521 | |
| Remuneration, social security and pensions | 62 | €14,372 | €60,478 | +€46,106 | +321% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,304 | €21,167 | +€15,863 | +299% |
| Other operating charges | 640/8 | €1,920 | €1,545 | -€376 | -19.6% |
| Gross operating margin | 9900 | €113,077 | €150,145 | +€37,068 | +32.8% |
| Operating profit (loss) | 9901 | €91,480 | €66,955 | -€24,525 | -26.8% |
| Financial income | 75/76B | €6 | €387 | +€382 | +6,874% |
| Recurring financial income | 75 | €6 | €387 | +€382 | +6,874% |
| Financial charges | 65/66B | €28 | €2,808 | +€2,779 | +9,772% |
| Recurring financial charges | 65 | €28 | €2,808 | +€2,779 | +9,772% |
| Profit (loss) for the period before taxes | 9903 | €91,457 | €64,535 | -€26,923 | -29.4% |
| Income taxes | 67/77 | €18,326 | €13,045 | -€5,282 | -28.8% |
| Profit (loss) for the period | 9904 | €73,131 | €51,490 | -€21,641 | -29.6% |
| Profit (loss) for the period to be appropriated | 9905 | €73,131 | €51,490 | -€21,641 | -29.6% |
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 19 October 2026 via checked.be.