EREN: 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.
EREN
Largest movements
- Tangible fixed assets -€58,033
down €58,033 (-15.5%), from €374,646 to €316,613
of which Furniture and vehicles: -€34,704
- Receivables after one year +€30,000
up €30,000 (+27.3%), from €110,000 to €140,000
- Cash -€22,260
down €22,260 (-41.5%), from €53,681 to €31,421
mainly Other debts (-€42,797) and Debts after one year (-€30,573)
- Receivables within one year +€14,060
up €14,060 (+168.3%), from €8,356 to €22,416
of which Trade receivables: +€18,539
- Other debts -€42,797
down €42,797 (-73.6%), from €58,152 to €15,355
- Debts after one year -€30,573
down €30,573 (-14.0%), from €218,736 to €188,163
- Reserves +€29,922
up €29,922 (+19.5%), from €153,261 to €183,183
of which Distributable reserves: +€29,922
- Advances received +€21,919
new in 2025: €21,919
- Tax, wage and social debts -€12,201
down €12,201 (-41.1%), from €29,710 to €17,509
of which Remuneration and social security: -€12,443
- Financial income +€4,384
up €4,384 (+251.6%), from €1,743 to €6,127
- Gross operating margin -€3,153
down €3,153 (-2.4%), from €128,958 to €125,804
- Financial charges +€2,632
up €2,632 (+29.5%), from €8,916 to €11,548
- Depreciation +€1,593
up €1,593 (+2.8%), from €56,440 to €58,033
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 | €548,986 | €510,793 | -€38,193 | -7.0% |
| Fixed assets | 21/28 | €375,031 | €316,955 | -€58,076 | -15.5% |
| Tangible fixed assets | 22/27 | €374,646 | €316,613 | -€58,033 | -15.5% |
| Land and buildings | 22 | €232,801 | €217,460 | -€15,341 | -6.6% |
| Plant, machinery and equipment | 23 | €12,685 | €4,698 | -€7,987 | -63.0% |
| Furniture and vehicles | 24 | €129,160 | €94,455 | -€34,704 | -26.9% |
| Financial fixed assets | 28 | €385 | €342 | -€43 | -11.2% |
| Current assets | 29/58 | €173,955 | €193,838 | +€19,883 | +11.4% |
| Amounts receivable after more than one year | 29 | €110,000 | €140,000 | +€30,000 | +27.3% |
| Other amounts receivable | 291 | €110,000 | €140,000 | +€30,000 | +27.3% |
| Amounts receivable within one year | 40/41 | €8,356 | €22,416 | +€14,060 | +168.3% |
| Trade receivables | 40 | €3,877 | €22,416 | +€18,539 | +478.2% |
| Other amounts receivable | 41 | €4,479 | - | -€4,479 | |
| Cash at bank and in hand | 54/58 | €53,681 | €31,421 | -€22,260 | -41.5% |
| Deferred charges and accrued income | 490/1 | €1,918 | - | -€1,918 | |
| Total equity and liabilities | 10/49 | €548,986 | €510,793 | -€38,193 | -7.0% |
| Equity | 10/15 | €171,861 | €201,783 | +€29,922 | +17.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €153,261 | €183,183 | +€29,922 | +19.5% |
| 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 | €151,401 | €181,323 | +€29,922 | +19.8% |
| Amounts payable | 17/49 | €377,125 | €309,010 | -€68,115 | -18.1% |
| Amounts payable after more than one year | 17 | €218,736 | €188,163 | -€30,573 | -14.0% |
| Financial debts | 170/4 | €218,736 | €188,163 | -€30,573 | -14.0% |
| Amounts payable within one year | 42/48 | €158,389 | €120,847 | -€37,542 | -23.7% |
| Current portion of amounts payable after more than one year | 42 | €38,289 | €29,289 | -€9,000 | -23.5% |
| Trade debts | 44 | €32,237 | €36,774 | +€4,537 | +14.1% |
| Suppliers | 440/4 | €32,237 | €36,774 | +€4,537 | +14.1% |
| Advances received on contracts in progress | 46 | - | €21,919 | +€21,919 | |
| Taxes, remuneration and social security | 45 | €29,710 | €17,509 | -€12,201 | -41.1% |
| Taxes | 450/3 | €16,998 | €17,241 | +€242 | +1.4% |
| Remuneration and social security | 454/9 | €12,712 | €269 | -€12,443 | -97.9% |
| Other amounts payable | 47/48 | €58,152 | €15,355 | -€42,797 | -73.6% |
| Remuneration, social security and pensions | 62 | €13,845 | €12,775 | -€1,070 | -7.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,440 | €58,033 | +€1,593 | +2.8% |
| Other operating charges | 640/8 | €4,378 | €4,081 | -€297 | -6.8% |
| Gross operating margin | 9900 | €128,958 | €125,804 | -€3,153 | -2.4% |
| Operating profit (loss) | 9901 | €54,294 | €50,915 | -€3,379 | -6.2% |
| Financial income | 75/76B | €1,743 | €6,127 | +€4,384 | +251.6% |
| Recurring financial income | 75 | €1,743 | €6,127 | +€4,384 | +251.6% |
| Financial charges | 65/66B | €8,916 | €11,548 | +€2,632 | +29.5% |
| Recurring financial charges | 65 | €8,916 | €11,548 | +€2,632 | +29.5% |
| Profit (loss) for the period before taxes | 9903 | €47,121 | €45,495 | -€1,627 | -3.5% |
| Income taxes | 67/77 | €16,013 | €15,572 | -€440 | -2.8% |
| Profit (loss) for the period | 9904 | €31,108 | €29,922 | -€1,186 | -3.8% |
| Profit (loss) for the period to be appropriated | 9905 | €31,108 | €29,922 | -€1,186 | -3.8% |
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 5 October 2026 via checked.be.