ERDAN: 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.
ERDAN
Largest movements
- Cash -€14,839
down €14,839 (-34.3%), from €43,233 to €28,394
mainly Debts after one year (-€25,542) and Net result for the year (-€7,102)
- Tangible fixed assets -€13,014
down €13,014 (-36.1%), from €36,049 to €23,035
of which Plant, machinery and equipment: -€10,475
- Receivables within one year +€2,750
up €2,750 (+3172.6%), from €87 to €2,837
of which Other amounts receivable: +€2,706
- Stocks and contracts -€1,162
down €1,162 (-74.8%), from €1,553 to €391
- Intangible fixed assets -€1,150
down €1,150 (-14.8%), from €7,757 to €6,607
- Debts after one year -€25,542
down €25,542 (-42.7%), from €59,789 to €34,247
- Profit (loss) carried forward -€7,102
down €7,102 (-66.1%), from €10,737 to €3,635
- Tax, wage and social debts +€3,002
up €3,002 (+179.9%), from €1,669 to €4,671
of which Taxes: +€1,502
- Trade debts +€1,751
up €1,751 (+100.4%), from €1,745 to €3,496
- Gross operating margin -€32,851
down €32,851 (-74.7%), from €43,954 to €11,103
- Taxes -€6,462
down €6,462 (-96.9%), from €6,669 to €207
- Depreciation -€2,063
down €2,063 (-12.7%), from €16,227 to €14,164
- Financial charges -€1,013
down €1,013 (-32.1%), from €3,152 to €2,139
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 | €91,152 | €63,868 | -€27,284 | -29.9% |
| Fixed assets | 21/28 | €43,899 | €29,735 | -€14,164 | -32.3% |
| Intangible fixed assets | 21 | €7,757 | €6,607 | -€1,150 | -14.8% |
| Tangible fixed assets | 22/27 | €36,049 | €23,035 | -€13,014 | -36.1% |
| Plant, machinery and equipment | 23 | €28,656 | €18,181 | -€10,475 | -36.6% |
| Furniture and vehicles | 24 | €1,741 | - | -€1,741 | |
| Other tangible fixed assets | 26 | €5,652 | €4,854 | -€798 | -14.1% |
| Financial fixed assets | 28 | €94 | €94 | = | 0.0% |
| Current assets | 29/58 | €47,253 | €34,133 | -€13,120 | -27.8% |
| Stocks and contracts in progress | 3 | €1,553 | €391 | -€1,162 | -74.8% |
| Stocks | 30/36 | €1,553 | €391 | -€1,162 | -74.8% |
| Amounts receivable within one year | 40/41 | €87 | €2,837 | +€2,750 | +3172.6% |
| Trade receivables | 40 | - | €44 | +€44 | |
| Other amounts receivable | 41 | €87 | €2,793 | +€2,706 | +3121.5% |
| Cash at bank and in hand | 54/58 | €43,233 | €28,394 | -€14,839 | -34.3% |
| Deferred charges and accrued income | 490/1 | €2,381 | €2,511 | +€131 | +5.5% |
| Total equity and liabilities | 10/49 | €91,152 | €63,868 | -€27,284 | -29.9% |
| Equity | 10/15 | €16,937 | €9,835 | -€7,102 | -41.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,737 | €3,635 | -€7,102 | -66.1% |
| Amounts payable | 17/49 | €74,216 | €54,033 | -€20,182 | -27.2% |
| Amounts payable after more than one year | 17 | €59,789 | €34,247 | -€25,542 | -42.7% |
| Financial debts | 170/4 | €30,913 | €21,371 | -€9,542 | -30.9% |
| Trade debts | 175 | €6,000 | - | -€6,000 | |
| Other amounts payable | 178/9 | €22,876 | €12,876 | -€10,000 | -43.7% |
| Amounts payable within one year | 42/48 | €12,520 | €17,709 | +€5,189 | +41.4% |
| Current portion of amounts payable after more than one year | 42 | €9,106 | €9,542 | +€436 | +4.8% |
| Trade debts | 44 | €1,745 | €3,496 | +€1,751 | +100.4% |
| Suppliers | 440/4 | €1,745 | €3,496 | +€1,751 | +100.4% |
| Taxes, remuneration and social security | 45 | €1,669 | €4,671 | +€3,002 | +179.9% |
| Taxes | 450/3 | €1,669 | €3,171 | +€1,502 | +90.0% |
| Remuneration and social security | 454/9 | - | €1,500 | +€1,500 | |
| Accrued charges and deferred income | 492/3 | €1,907 | €2,077 | +€170 | +8.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,227 | €14,164 | -€2,063 | -12.7% |
| Other operating charges | 640/8 | €1,236 | €1,637 | +€402 | +32.5% |
| Non-recurring operating charges | 66A | - | €57 | +€57 | |
| Gross operating margin | 9900 | €43,954 | €11,103 | -€32,851 | -74.7% |
| Operating profit (loss) | 9901 | €26,491 | -€4,755 | -€31,246 | |
| Financial income | 75/76B | €61 | - | -€61 | |
| Recurring financial income | 75 | €61 | - | -€61 | |
| Financial charges | 65/66B | €3,152 | €2,139 | -€1,013 | -32.1% |
| Recurring financial charges | 65 | €3,152 | €2,139 | -€1,013 | -32.1% |
| Profit (loss) for the period before taxes | 9903 | €23,399 | -€6,895 | -€30,294 | |
| Income taxes | 67/77 | €6,669 | €207 | -€6,462 | -96.9% |
| Profit (loss) for the period | 9904 | €16,730 | -€7,102 | -€23,832 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,730 | -€7,102 | -€23,832 |
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 9 October 2026 via checked.be.