ERDAB: 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.
ERDAB
Largest movements
- Tangible fixed assets +€254,332
up €254,332 (+141%), from €180,390 to €434,722
of which Plant, machinery and equipment: +€270,904
- Cash -€157,906
down €157,906 (-35.4%), from €446,296 to €288,390
mainly Investment in fixed assets (net) (-€368,216) and Contributions, distributions and other (-€275,000)
- Receivables within one year +€97,198
up €97,198 (+494%), from €19,685 to €116,883
of which Other amounts receivable: +€86,380
- Other debts +€245,759
up €245,759 (+564%), from €43,550 to €289,310
- Reserves -€175,000
down €175,000 (-30.1%), from €581,071 to €406,071
of which Distributable reserves: -€175,000
- Trade debts +€112,481
up €112,481 (+172%), from €65,301 to €177,781
- Tax, wage and social debts +€24,091
up €24,091 (+24,359%), from €99 to €24,190
of which Taxes: +€24,091
- Gross operating margin -€200,258
down €200,258 (-43.1%), from €464,836 to €264,578
- Taxes -€46,515
down €46,515 (-45.6%), from €101,978 to €55,464
- Depreciation +€31,038
up €31,038 (+43.8%), from €70,846 to €101,884
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 | €1,340,700 | €1,551,192 | +€210,492 | +15.7% |
| Fixed assets | 21/28 | €870,425 | €1,136,757 | +€266,332 | +30.6% |
| Tangible fixed assets | 22/27 | €180,390 | €434,722 | +€254,332 | +141% |
| Plant, machinery and equipment | 23 | €104,996 | €375,900 | +€270,904 | +258% |
| Furniture and vehicles | 24 | €75,394 | €58,822 | -€16,572 | -22.0% |
| Financial fixed assets | 28 | €690,035 | €702,035 | +€12,000 | +1.7% |
| Current assets | 29/58 | €470,275 | €414,435 | -€55,840 | -11.9% |
| Amounts receivable within one year | 40/41 | €19,685 | €116,883 | +€97,198 | +494% |
| Trade receivables | 40 | €9,704 | €20,522 | +€10,818 | +111% |
| Other amounts receivable | 41 | €9,981 | €96,361 | +€86,380 | +865% |
| Cash at bank and in hand | 54/58 | €446,296 | €288,390 | -€157,906 | -35.4% |
| Deferred charges and accrued income | 490/1 | €4,295 | €9,163 | +€4,868 | +113% |
| Total equity and liabilities | 10/49 | €1,340,700 | €1,551,192 | +€210,492 | +15.7% |
| Equity | 10/15 | €1,231,750 | €1,059,911 | -€171,839 | -14.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €581,071 | €406,071 | -€175,000 | -30.1% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €871 | €871 | = | 0.0% |
| Distributable reserves | 133 | €574,000 | €399,000 | -€175,000 | -30.5% |
| Profit (loss) carried forward | 14 | €588,679 | €591,840 | +€3,161 | +0.5% |
| Amounts payable | 17/49 | €108,950 | €491,281 | +€382,332 | +351% |
| Amounts payable within one year | 42/48 | €108,950 | €491,281 | +€382,332 | +351% |
| Trade debts | 44 | €65,301 | €177,781 | +€112,481 | +172% |
| Suppliers | 440/4 | €65,301 | €177,781 | +€112,481 | +172% |
| Taxes, remuneration and social security | 45 | €99 | €24,190 | +€24,091 | +24,359% |
| Taxes | 450/3 | €99 | €24,190 | +€24,091 | +24,359% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €43,550 | €289,310 | +€245,759 | +564% |
| Turnover | 70 | €0 | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,846 | €101,884 | +€31,038 | +43.8% |
| Other operating charges | 640/8 | €2,914 | €2,380 | -€535 | -18.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €464,836 | €264,578 | -€200,258 | -43.1% |
| Operating profit (loss) | 9901 | €391,076 | €160,314 | -€230,762 | -59.0% |
| Financial income | 75/76B | €0 | €41 | +€41 | +135,933% |
| Recurring financial income | 75 | €0 | €41 | +€41 | +135,933% |
| Financial charges | 65/66B | €151 | €1,731 | +€1,579 | +1,043% |
| Recurring financial charges | 65 | €151 | €1,731 | +€1,579 | +1,043% |
| Profit (loss) for the period before taxes | 9903 | €390,925 | €158,624 | -€232,300 | -59.4% |
| Income taxes | 67/77 | €101,978 | €55,464 | -€46,515 | -45.6% |
| Profit (loss) for the period | 9904 | €288,946 | €103,161 | -€185,785 | -64.3% |
| Profit (loss) for the period to be appropriated | 9905 | €288,946 | €103,161 | -€185,785 | -64.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.