ERDE: 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.
ERDE
Largest movements
- Receivables within one year +€73,898
up €73,898 (+4027.7%), from €1,835 to €75,733
of which Other amounts receivable: +€62,298
- Tangible fixed assets -€58,734
down €58,734 (-20.0%), from €293,927 to €235,193
of which Land and buildings: -€58,232
- Deferred charges and accrued income +€4,156
new in 2025: €4,156
- Other debts +€83,426
up €83,426 (+142.5%), from €58,539 to €141,965
- Profit (loss) carried forward -€35,336
down €35,336 (-14.0%), from -€253,098 to -€288,434
- Debts after one year -€30,485
down €30,485 (-8.5%), from €360,487 to €330,003
of which Financial debts: -€30,485
- Trade debts +€8,867
up €8,867 (+109.3%), from €8,115 to €16,982
- Current portion of long-term debt -€8,701
down €8,701 (-22.2%), from €39,185 to €30,485
- Gross operating margin -€18,736
down €18,736 (-33.5%), from €55,905 to €37,169
- Financial charges -€13,263
down €13,263 (-70.8%), from €18,735 to €5,472
- Depreciation -€8,014
down €8,014 (-11.8%), from €68,068 to €60,053
- Other operating charges +€6,474
up €6,474 (+1281.1%), from €505 to €6,979
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 | €300,167 | €317,870 | +€17,703 | +5.9% |
| Fixed assets | 21/28 | €293,927 | €235,193 | -€58,734 | -20.0% |
| Tangible fixed assets | 22/27 | €293,927 | €235,193 | -€58,734 | -20.0% |
| Land and buildings | 22 | €286,312 | €228,080 | -€58,232 | -20.3% |
| Furniture and vehicles | 24 | €7,615 | €5,838 | -€1,777 | -23.3% |
| Leasing and similar rights | 25 | €0 | - | -€0 | |
| Other tangible fixed assets | 26 | - | €1,275 | +€1,275 | |
| Current assets | 29/58 | €6,241 | €82,677 | +€76,436 | +1224.8% |
| Amounts receivable within one year | 40/41 | €1,835 | €75,733 | +€73,898 | +4027.7% |
| Trade receivables | 40 | €545 | €12,144 | +€11,600 | +2130.3% |
| Other amounts receivable | 41 | €1,290 | €63,589 | +€62,298 | +4828.4% |
| Cash at bank and in hand | 54/58 | €4,406 | €2,788 | -€1,618 | -36.7% |
| Deferred charges and accrued income | 490/1 | - | €4,156 | +€4,156 | |
| Total equity and liabilities | 10/49 | €300,167 | €317,870 | +€17,703 | +5.9% |
| Equity | 10/15 | -€188,804 | -€224,140 | -€35,336 | -18.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | €18,592 | €18,592 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €45,702 | €45,702 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €43,843 | €43,843 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€253,098 | -€288,434 | -€35,336 | -14.0% |
| Provisions and deferred taxes | 16 | €22,576 | €22,576 | = | 0.0% |
| Deferred taxes | 168 | €22,576 | €22,576 | = | 0.0% |
| Amounts payable | 17/49 | €466,396 | €519,434 | +€53,039 | +11.4% |
| Amounts payable after more than one year | 17 | €360,487 | €330,003 | -€30,485 | -8.5% |
| Financial debts | 170/4 | €276,499 | €246,014 | -€30,485 | -11.0% |
| Other amounts payable | 178/9 | €83,988 | €83,988 | = | 0.0% |
| Amounts payable within one year | 42/48 | €105,908 | €189,432 | +€83,523 | +78.9% |
| Current portion of amounts payable after more than one year | 42 | €39,185 | €30,485 | -€8,701 | -22.2% |
| Trade debts | 44 | €8,115 | €16,982 | +€8,867 | +109.3% |
| Suppliers | 440/4 | €8,115 | €16,982 | +€8,867 | +109.3% |
| Taxes, remuneration and social security | 45 | €69 | - | -€69 | |
| Taxes | 450/3 | €69 | - | -€69 | |
| Other amounts payable | 47/48 | €58,539 | €141,965 | +€83,426 | +142.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,068 | €60,053 | -€8,014 | -11.8% |
| Other operating charges | 640/8 | €505 | €6,979 | +€6,474 | +1281.1% |
| Gross operating margin | 9900 | €55,905 | €37,169 | -€18,736 | -33.5% |
| Operating profit (loss) | 9901 | -€12,668 | -€29,864 | -€17,196 | -135.7% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €18,735 | €5,472 | -€13,263 | -70.8% |
| Recurring financial charges | 65 | €18,735 | €5,472 | -€13,263 | -70.8% |
| Profit (loss) for the period before taxes | 9903 | -€31,402 | -€35,336 | -€3,934 | -12.5% |
| Profit (loss) for the period | 9904 | -€31,402 | -€35,336 | -€3,934 | -12.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€31,402 | -€35,336 | -€3,934 | -12.5% |
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 30 September 2026 via checked.be.