ERGE: 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.
ERGE
Largest movements
- Cash +€164,187
up €164,187 (+2290.4%), from €7,168 to €171,355
mainly Net result for the year (+€223,777) and Investment in fixed assets (net) (+€58,080)
- Receivables within one year +€58,735
up €58,735 (+164.9%), from €35,621 to €94,356
of which Other amounts receivable: +€59,885
- Tangible fixed assets -€58,080
down €58,080 (-26.6%), from €218,295 to €160,216
of which Land and buildings: -€57,004
- Reserves +€147,933
up €147,933 (+84.9%), from €174,206 to €322,140
- Profit (loss) carried forward +€35,844
up €35,844, from -€35,844 to €0
- Revaluation surpluses -€27,230
down €27,230 (-26.2%), from €103,763 to €76,533
- Other debts +€7,915
new in 2025: €7,915
- Gross operating margin +€372,881
up €372,881, from -€16,258 to €356,623
- Taxes +€105,320
up €105,320 (+32567.6%), from €323 to €105,644
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 | €261,647 | €426,607 | +€164,960 | +63.0% |
| Fixed assets | 21/28 | €218,295 | €160,216 | -€58,080 | -26.6% |
| Tangible fixed assets | 22/27 | €218,295 | €160,216 | -€58,080 | -26.6% |
| Land and buildings | 22 | €217,219 | €160,216 | -€57,004 | -26.2% |
| Furniture and vehicles | 24 | €1,076 | €0 | -€1,076 | -100.0% |
| Current assets | 29/58 | €43,352 | €266,391 | +€223,040 | +514.5% |
| Amounts receivable within one year | 40/41 | €35,621 | €94,356 | +€58,735 | +164.9% |
| Trade receivables | 40 | €1,150 | €0 | -€1,150 | -100.0% |
| Other amounts receivable | 41 | €34,471 | €94,356 | +€59,885 | +173.7% |
| Cash at bank and in hand | 54/58 | €7,168 | €171,355 | +€164,187 | +2290.4% |
| Deferred charges and accrued income | 490/1 | €562 | €680 | +€117 | +20.8% |
| Total equity and liabilities | 10/49 | €261,647 | €426,607 | +€164,960 | +63.0% |
| Equity | 10/15 | €260,725 | €417,273 | +€156,547 | +60.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €103,763 | €76,533 | -€27,230 | -26.2% |
| Reserves | 13 | €174,206 | €322,140 | +€147,933 | +84.9% |
| Distributable reserves | 133 | €174,206 | €322,140 | +€147,933 | +84.9% |
| Profit (loss) carried forward | 14 | -€35,844 | €0 | +€35,844 | |
| Amounts payable | 17/49 | €922 | €9,334 | +€8,413 | +912.9% |
| Amounts payable within one year | 42/48 | €922 | €9,334 | +€8,413 | +912.9% |
| Trade debts | 44 | €598 | €1,420 | +€822 | +137.4% |
| Suppliers | 440/4 | €598 | €1,420 | +€822 | +137.4% |
| Taxes, remuneration and social security | 45 | €323 | €0 | -€323 | -100.0% |
| Taxes | 450/3 | €323 | €0 | -€323 | -100.0% |
| Other amounts payable | 47/48 | - | €7,915 | +€7,915 | |
| Non-recurring operating income | 76A | - | €379,601 | +€379,601 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €538 | €0 | -€538 | -100.0% |
| Other operating charges | 640/8 | €1,034 | €1,103 | +€70 | +6.7% |
| Non-recurring operating charges | 66A | - | €26,331 | +€26,331 | |
| Gross operating margin | 9900 | -€16,258 | €356,623 | +€372,881 | |
| Operating profit (loss) | 9901 | -€17,830 | €329,188 | +€347,018 | |
| Financial income | 75/76B | €1,925 | €557 | -€1,368 | -71.1% |
| Recurring financial income | 75 | €1,925 | €557 | -€1,368 | -71.1% |
| Financial charges | 65/66B | €108 | €324 | +€216 | +199.8% |
| Recurring financial charges | 65 | €108 | €324 | +€216 | +199.8% |
| Profit (loss) for the period before taxes | 9903 | -€16,013 | €329,421 | +€345,434 | |
| Income taxes | 67/77 | €323 | €105,644 | +€105,320 | +32567.6% |
| Profit (loss) for the period | 9904 | -€16,337 | €223,777 | +€240,114 | |
| Profit (loss) for the period to be appropriated | 9905 | -€16,337 | €223,777 | +€240,114 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.