EREDE: 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.
EREDE
Largest movements
- Tangible fixed assets +€1.3m
up €1.3m (+293%), from €440,214 to €1.7m
of which Land and buildings: +€1.2m
- Receivables within one year -€446,429
down €446,429 (-77.4%), from €576,655 to €130,225
of which Trade receivables: -€480,537
- Cash +€274,652
up €274,652 (+215%), from €127,903 to €402,555
mainly Debts after one year (+€877,343) and Receivables within one year (+€446,429)
- Debts after one year +€877,343
up €877,343 (+318%), from €275,775 to €1.2m
- Other debts +€246,063
up €246,063 (+579%), from €42,500 to €288,563
- Reserves -€85,781
down €85,781 (-12.5%), from €686,583 to €600,802
- Current portion of long-term debt +€60,739
up €60,739 (+281%), from €21,639 to €82,378
- Depreciation +€131,889
up €131,889 (+1,253%), from €10,525 to €142,414
- Gross operating margin -€91,998
down €91,998 (-20.7%), from €445,385 to €353,387
- Taxes -€62,217
down €62,217 (-60.9%), from €102,110 to €39,893
- Financial charges +€22,335
up €22,335 (+395%), from €5,652 to €27,987
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 | €1,151,788 | €2,261,069 | +€1.1m | +96.3% |
| Fixed assets | 21/28 | €440,214 | €1,728,288 | +€1.3m | +293% |
| Tangible fixed assets | 22/27 | €440,214 | €1,728,288 | +€1.3m | +293% |
| Land and buildings | 22 | €440,214 | €1,676,568 | +€1.2m | +281% |
| Furniture and vehicles | 24 | - | €51,720 | +€51,720 | |
| Current assets | 29/58 | €711,574 | €532,780 | -€178,794 | -25.1% |
| Amounts receivable within one year | 40/41 | €576,655 | €130,225 | -€446,429 | -77.4% |
| Trade receivables | 40 | €576,637 | €96,100 | -€480,537 | -83.3% |
| Other amounts receivable | 41 | €18 | €34,125 | +€34,107 | +189,486% |
| Cash at bank and in hand | 54/58 | €127,903 | €402,555 | +€274,652 | +215% |
| Deferred charges and accrued income | 490/1 | €7,016 | €0 | -€7,016 | -100% |
| Total equity and liabilities | 10/49 | €1,151,788 | €2,261,069 | +€1.1m | +96.3% |
| Equity | 10/15 | €705,183 | €619,402 | -€85,781 | -12.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €686,583 | €600,802 | -€85,781 | -12.5% |
| Distributable reserves | 133 | €686,583 | €600,802 | -€85,781 | -12.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €446,605 | €1,641,666 | +€1.2m | +268% |
| Amounts payable after more than one year | 17 | €275,775 | €1,153,118 | +€877,343 | +318% |
| Financial debts | 170/4 | €275,775 | €1,153,118 | +€877,343 | +318% |
| Amounts payable within one year | 42/48 | €170,830 | €488,549 | +€317,718 | +186% |
| Current portion of amounts payable after more than one year | 42 | €21,639 | €82,378 | +€60,739 | +281% |
| Trade debts | 44 | €12,654 | €22,593 | +€9,939 | +78.5% |
| Suppliers | 440/4 | €12,654 | €22,593 | +€9,939 | +78.5% |
| Taxes, remuneration and social security | 45 | €94,038 | €95,015 | +€978 | +1.0% |
| Taxes | 450/3 | €94,038 | €95,015 | +€978 | +1.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €42,500 | €288,563 | +€246,063 | +579% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,525 | €142,414 | +€131,889 | +1,253% |
| Other operating charges | 640/8 | €1,281 | €4,842 | +€3,561 | +278% |
| Gross operating margin | 9900 | €445,385 | €353,387 | -€91,998 | -20.7% |
| Operating profit (loss) | 9901 | €433,580 | €206,131 | -€227,448 | -52.5% |
| Financial income | 75/76B | €0 | €967 | +€967 | |
| Recurring financial income | 75 | €0 | €967 | +€967 | |
| Financial charges | 65/66B | €5,652 | €27,987 | +€22,335 | +395% |
| Recurring financial charges | 65 | €5,652 | €27,987 | +€22,335 | +395% |
| Profit (loss) for the period before taxes | 9903 | €427,928 | €179,112 | -€248,816 | -58.1% |
| Income taxes | 67/77 | €102,110 | €39,893 | -€62,217 | -60.9% |
| Profit (loss) for the period | 9904 | €325,818 | €139,219 | -€186,599 | -57.3% |
| Profit (loss) for the period to be appropriated | 9905 | €325,818 | €139,219 | -€186,599 | -57.3% |
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 1 November 2026 via checked.be.