ERDON: 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.
ERDON
Largest movements
- Cash +€48,767
up €48,767 (+12.1%), from €402,267 to €451,033
mainly Net result for the year (+€73,626) and Receivables within one year (+€21,817)
- Receivables within one year -€21,817
down €21,817 (-24.2%), from €90,008 to €68,191
of which Trade receivables: -€24,575
- Tangible fixed assets -€17,378
down €17,378 (-49.3%), from €35,213 to €17,836
- Reserves +€15,336
up €15,336 (+4.0%), from €380,403 to €395,740
of which Distributable reserves: +€15,336
- Gross operating margin -€24,037
down €24,037 (-17.0%), from €141,722 to €117,685
- Financial income +€2,188
new in 2025: €2,188
- Taxes -€1,950
down €1,950 (-6.4%), from €30,659 to €28,709
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 | €527,488 | €537,060 | +€9,572 | +1.8% |
| Fixed assets | 21/28 | €35,213 | €17,836 | -€17,378 | -49.3% |
| Tangible fixed assets | 22/27 | €35,213 | €17,836 | -€17,378 | -49.3% |
| Furniture and vehicles | 24 | €35,213 | €17,836 | -€17,378 | -49.3% |
| Current assets | 29/58 | €492,275 | €519,225 | +€26,950 | +5.5% |
| Amounts receivable within one year | 40/41 | €90,008 | €68,191 | -€21,817 | -24.2% |
| Trade receivables | 40 | €60,347 | €35,772 | -€24,575 | -40.7% |
| Other amounts receivable | 41 | €29,661 | €32,419 | +€2,758 | +9.3% |
| Cash at bank and in hand | 54/58 | €402,267 | €451,033 | +€48,767 | +12.1% |
| Total equity and liabilities | 10/49 | €527,488 | €537,060 | +€9,572 | +1.8% |
| Equity | 10/15 | €493,187 | €508,523 | +€15,336 | +3.1% |
| Contributions | 10/11 | €15,900 | €15,900 | = | 0.0% |
| Reserves | 13 | €380,403 | €395,740 | +€15,336 | +4.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €378,543 | €393,880 | +€15,336 | +4.1% |
| Profit (loss) carried forward | 14 | €96,884 | €96,884 | = | 0.0% |
| Amounts payable | 17/49 | €34,301 | €28,537 | -€5,764 | -16.8% |
| Amounts payable within one year | 42/48 | €32,435 | €26,671 | -€5,764 | -17.8% |
| Trade debts | 44 | €2,776 | €2,171 | -€605 | -21.8% |
| Suppliers | 440/4 | €2,776 | €2,171 | -€605 | -21.8% |
| Taxes, remuneration and social security | 45 | €29,659 | €24,500 | -€5,159 | -17.4% |
| Taxes | 450/3 | €29,659 | €24,500 | -€5,159 | -17.4% |
| Accrued charges and deferred income | 492/3 | €1,866 | €1,866 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,378 | €17,378 | = | 0.0% |
| Gross operating margin | 9900 | €141,722 | €117,685 | -€24,037 | -17.0% |
| Operating profit (loss) | 9901 | €124,344 | €100,308 | -€24,037 | -19.3% |
| Financial income | 75/76B | - | €2,188 | +€2,188 | |
| Recurring financial income | 75 | - | €2,188 | +€2,188 | |
| Financial charges | 65/66B | €142 | €161 | +€19 | +13.1% |
| Recurring financial charges | 65 | €142 | €161 | +€19 | +13.1% |
| Profit (loss) for the period before taxes | 9903 | €124,202 | €102,335 | -€21,867 | -17.6% |
| Income taxes | 67/77 | €30,659 | €28,709 | -€1,950 | -6.4% |
| Profit (loss) for the period | 9904 | €93,543 | €73,626 | -€19,917 | -21.3% |
| Profit (loss) for the period to be appropriated | 9905 | €93,543 | €73,626 | -€19,917 | -21.3% |
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 23 October 2026 via checked.be.