ERES-BOUTENS: 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.
ERES-BOUTENS
Largest movements
- Current investments -€67,976
down €67,976 (-96.2%), from €70,673 to €2,697
- Cash +€40,167
up €40,167 (+89.8%), from €44,734 to €84,901
mainly Current investments (+€67,976) and Receivables within one year (+€40,146)
- Receivables within one year -€40,146
down €40,146 (-35.7%), from €112,501 to €72,354
of which Trade receivables: -€37,743
- Stocks and contracts +€7,778
up €7,778 (+14.5%), from €53,822 to €61,600
- Deferred charges and accrued income -€4,062
down €4,062 (-15.6%), from €26,054 to €21,992
- Other debts -€64,399
down €64,399 (-89.1%), from €72,256 to €7,857
- Trade debts +€11,087
up €11,087 (+458%), from €2,423 to €13,510
- Reserves -€7,531
down €7,531 (-5.6%), from €135,335 to €127,804
of which Distributable reserves: -€7,531
- Accrued charges and deferred income -€5,790
down €5,790 (-68.8%), from €8,412 to €2,622
- Gross operating margin -€31,601
down €31,601 (-41.1%), from €76,929 to €45,328
- Financial income -€15,192
down €15,192 (-83.4%), from €18,224 to €3,032
- Write-downs -€13,652
down €13,652 (-96.1%), from €14,211 to €559
- Taxes -€10,947
down €10,947 (-83.8%), from €13,061 to €2,114
- Financial charges -€3,180
down €3,180 (-48.9%), from €6,497 to €3,317
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 | €309,619 | €243,938 | -€65,681 | -21.2% |
| Fixed assets | 21/28 | €1,836 | €394 | -€1,442 | -78.6% |
| Tangible fixed assets | 22/27 | €1,636 | €194 | -€1,442 | -88.2% |
| Plant, machinery and equipment | 23 | €1,636 | €194 | -€1,442 | -88.2% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €307,784 | €243,545 | -€64,239 | -20.9% |
| Stocks and contracts in progress | 3 | €53,822 | €61,600 | +€7,778 | +14.5% |
| Stocks | 30/36 | €53,822 | €61,600 | +€7,778 | +14.5% |
| Amounts receivable within one year | 40/41 | €112,501 | €72,354 | -€40,146 | -35.7% |
| Trade receivables | 40 | €98,958 | €61,216 | -€37,743 | -38.1% |
| Other amounts receivable | 41 | €13,542 | €11,139 | -€2,403 | -17.7% |
| Current investments | 50/53 | €70,673 | €2,697 | -€67,976 | -96.2% |
| Cash at bank and in hand | 54/58 | €44,734 | €84,901 | +€40,167 | +89.8% |
| Deferred charges and accrued income | 490/1 | €26,054 | €21,992 | -€4,062 | -15.6% |
| Total equity and liabilities | 10/49 | €309,619 | €243,938 | -€65,681 | -21.2% |
| Equity | 10/15 | €208,335 | €200,804 | -€7,531 | -3.6% |
| Contributions | 10/11 | €73,000 | €73,000 | = | 0.0% |
| Capital | 10 | €73,000 | €73,000 | = | 0.0% |
| Issued capital | 100 | €73,000 | €73,000 | = | 0.0% |
| Reserves | 13 | €135,335 | €127,804 | -€7,531 | -5.6% |
| Non-distributable reserves | 130/1 | €7,310 | €7,310 | = | 0.0% |
| Legal reserve | 130 | €7,300 | €7,300 | = | 0.0% |
| Own shares acquired | 1312 | €10 | €10 | = | 0.0% |
| Distributable reserves | 133 | €128,025 | €120,494 | -€7,531 | -5.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €101,284 | €43,134 | -€58,150 | -57.4% |
| Amounts payable within one year | 42/48 | €92,872 | €40,512 | -€52,360 | -56.4% |
| Financial debts | 43 | - | €2,713 | +€2,713 | |
| Credit institutions | 430/8 | - | €2,713 | +€2,713 | |
| Trade debts | 44 | €2,423 | €13,510 | +€11,087 | +458% |
| Suppliers | 440/4 | €2,423 | €13,510 | +€11,087 | +458% |
| Taxes, remuneration and social security | 45 | €18,193 | €16,432 | -€1,762 | -9.7% |
| Taxes | 450/3 | €10,599 | €8,096 | -€2,503 | -23.6% |
| Remuneration and social security | 454/9 | €7,595 | €8,336 | +€741 | +9.8% |
| Other amounts payable | 47/48 | €72,256 | €7,857 | -€64,399 | -89.1% |
| Accrued charges and deferred income | 492/3 | €8,412 | €2,622 | -€5,790 | -68.8% |
| Remuneration, social security and pensions | 62 | €25,602 | €27,537 | +€1,935 | +7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,442 | €1,442 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €14,211 | €559 | -€13,652 | -96.1% |
| Other operating charges | 640/8 | €1,566 | €1,948 | +€383 | +24.4% |
| Gross operating margin | 9900 | €76,929 | €45,328 | -€31,601 | -41.1% |
| Operating profit (loss) | 9901 | €34,109 | €13,842 | -€20,267 | -59.4% |
| Financial income | 75/76B | €18,224 | €3,032 | -€15,192 | -83.4% |
| Recurring financial income | 75 | €18,224 | €3,032 | -€15,192 | -83.4% |
| Financial charges | 65/66B | €6,497 | €3,317 | -€3,180 | -48.9% |
| Recurring financial charges | 65 | €6,497 | €3,317 | -€3,180 | -48.9% |
| Profit (loss) for the period before taxes | 9903 | €45,836 | €13,558 | -€32,279 | -70.4% |
| Income taxes | 67/77 | €13,061 | €2,114 | -€10,947 | -83.8% |
| Profit (loss) for the period | 9904 | €32,775 | €11,443 | -€21,332 | -65.1% |
| Profit (loss) for the period to be appropriated | 9905 | €32,775 | €11,443 | -€21,332 | -65.1% |
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 20 October 2026 via checked.be.