Erebor Ventures: 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.
Erebor Ventures
Largest movements
- Cash +€77,600
up €77,600 (+262%), from €29,656 to €107,256
mainly Net result for the year (+€96,584) and Tax, wage and social debts (+€16,755)
- Tangible fixed assets +€29,866
up €29,866 (+1,062%), from €2,811 to €32,677
of which Furniture and vehicles: +€30,173
- Receivables within one year +€5,926
up €5,926 (+24.7%), from €23,976 to €29,902
- Reserves +€96,584
up €96,584 (+257%), from €37,634 to €134,218
- Tax, wage and social debts +€16,755
up €16,755 (+92.6%), from €18,095 to €34,850
- Gross operating margin +€82,695
up €82,695 (+174%), from €47,397 to €130,092
- Taxes +€16,688
up €16,688 (+177%), from €9,450 to €26,138
- Write-downs +€4,290
new in 2025: €4,290
- Depreciation +€2,366
up €2,366 (+848%), from €279 to €2,645
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 | €56,805 | €171,584 | +€114,779 | +202% |
| Fixed assets | 21/28 | €2,811 | €32,677 | +€29,866 | +1,062% |
| Tangible fixed assets | 22/27 | €2,811 | €32,677 | +€29,866 | +1,062% |
| Plant, machinery and equipment | 23 | €2,811 | €2,504 | -€307 | -10.9% |
| Furniture and vehicles | 24 | - | €30,173 | +€30,173 | |
| Current assets | 29/58 | €53,994 | €138,907 | +€84,913 | +157% |
| Amounts receivable within one year | 40/41 | €23,976 | €29,902 | +€5,926 | +24.7% |
| Trade receivables | 40 | €23,976 | €29,902 | +€5,926 | +24.7% |
| Cash at bank and in hand | 54/58 | €29,656 | €107,256 | +€77,600 | +262% |
| Deferred charges and accrued income | 490/1 | €362 | €1,749 | +€1,387 | +383% |
| Total equity and liabilities | 10/49 | €56,805 | €171,584 | +€114,779 | +202% |
| Equity | 10/15 | €38,634 | €135,218 | +€96,584 | +250% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €37,634 | €134,218 | +€96,584 | +257% |
| Distributable reserves | 133 | €37,634 | €134,218 | +€96,584 | +257% |
| Amounts payable | 17/49 | €18,171 | €36,366 | +€18,195 | +100% |
| Amounts payable within one year | 42/48 | €18,171 | €36,366 | +€18,195 | +100% |
| Trade debts | 44 | €13 | €155 | +€142 | +1,092% |
| Suppliers | 440/4 | €13 | €155 | +€142 | +1,092% |
| Taxes, remuneration and social security | 45 | €18,095 | €34,850 | +€16,755 | +92.6% |
| Taxes | 450/3 | €18,095 | €34,850 | +€16,755 | +92.6% |
| Other amounts payable | 47/48 | €63 | €1,361 | +€1,298 | +2,060% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €279 | €2,645 | +€2,366 | +848% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €4,290 | +€4,290 | |
| Other operating charges | 640/8 | €41 | €656 | +€615 | +1,500% |
| Gross operating margin | 9900 | €47,397 | €130,092 | +€82,695 | +174% |
| Operating profit (loss) | 9901 | €47,077 | €122,501 | +€75,424 | +160% |
| Financial income | 75/76B | €56 | €595 | +€539 | +963% |
| Recurring financial income | 75 | €56 | €595 | +€539 | +963% |
| Financial charges | 65/66B | €49 | €374 | +€325 | +663% |
| Recurring financial charges | 65 | €49 | €374 | +€325 | +663% |
| Profit (loss) for the period before taxes | 9903 | €47,084 | €122,722 | +€75,638 | +161% |
| Income taxes | 67/77 | €9,450 | €26,138 | +€16,688 | +177% |
| Profit (loss) for the period | 9904 | €37,634 | €96,584 | +€58,950 | +157% |
| Profit (loss) for the period to be appropriated | 9905 | €37,634 | €96,584 | +€58,950 | +157% |
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 14 October 2026 via checked.be.