ERGEVEST: 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.
ERGEVEST
Largest movements
- Receivables within one year -€30,424
down €30,424 (-37.4%), from €81,260 to €50,836
of which Other amounts receivable: -€20,000
- Tangible fixed assets -€22,388
down €22,388 (-2.4%), from €950,281 to €927,893
of which Land and buildings: -€30,670
- Cash -€17,083
down €17,083 (-80.2%), from €21,292 to €4,209
mainly Debts after one year (-€40,448) and Net result for the year (-€33,614)
- Debts after one year -€40,448
down €40,448 (-10.1%), from €401,422 to €360,974
- Profit (loss) carried forward -€33,614
down €33,614 (-31.2%), from -€107,617 to -€141,231
- Financial income -€4,661
down €4,661 (-97.1%), from €4,801 to €140
- Gross operating margin -€2,736
down €2,736 (-9.0%), from €30,388 to €27,652
- Depreciation -€1,946
down €1,946 (-5.2%), from €37,554 to €35,608
- Financial charges -€1,270
down €1,270 (-12.9%), from €9,820 to €8,550
- Other operating charges -€594
down €594 (-3.5%), from €16,973 to €16,379
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 | €1,054,137 | €983,178 | -€70,959 | -6.7% |
| Fixed assets | 21/28 | €950,521 | €928,133 | -€22,388 | -2.4% |
| Tangible fixed assets | 22/27 | €950,281 | €927,893 | -€22,388 | -2.4% |
| Land and buildings | 22 | €918,292 | €887,622 | -€30,670 | -3.3% |
| Plant, machinery and equipment | 23 | €1,940 | €1,605 | -€335 | -17.3% |
| Furniture and vehicles | 24 | €83 | €12,158 | +€12,075 | +14,543% |
| Other tangible fixed assets | 26 | €29,966 | €26,508 | -€3,458 | -11.5% |
| Financial fixed assets | 28 | €240 | €240 | = | 0.0% |
| Current assets | 29/58 | €103,616 | €55,045 | -€48,571 | -46.9% |
| Amounts receivable within one year | 40/41 | €81,260 | €50,836 | -€30,424 | -37.4% |
| Trade receivables | 40 | €11,519 | €1,095 | -€10,424 | -90.5% |
| Other amounts receivable | 41 | €69,741 | €49,741 | -€20,000 | -28.7% |
| Cash at bank and in hand | 54/58 | €21,292 | €4,209 | -€17,083 | -80.2% |
| Deferred charges and accrued income | 490/1 | €1,063 | - | -€1,063 | |
| Total equity and liabilities | 10/49 | €1,054,137 | €983,178 | -€70,959 | -6.7% |
| Equity | 10/15 | €605,570 | €571,955 | -€33,615 | -5.6% |
| Contributions | 10/11 | €20,625 | €20,625 | = | 0.0% |
| Contributions outside capital | 11 | €20,625 | - | -€20,625 | |
| Other | 1109/19 | €20,625 | - | -€20,625 | |
| Revaluation surpluses | 12 | €185,344 | €178,599 | -€6,745 | -3.6% |
| Reserves | 13 | €507,217 | €513,962 | +€6,745 | +1.3% |
| Distributable reserves | 133 | €507,217 | €513,962 | +€6,745 | +1.3% |
| Profit (loss) carried forward | 14 | -€107,617 | -€141,231 | -€33,614 | -31.2% |
| Amounts payable | 17/49 | €448,567 | €411,223 | -€37,344 | -8.3% |
| Amounts payable after more than one year | 17 | €401,422 | €360,974 | -€40,448 | -10.1% |
| Financial debts | 170/4 | €401,422 | €360,974 | -€40,448 | -10.1% |
| Amounts payable within one year | 42/48 | €43,694 | €50,249 | +€6,555 | +15.0% |
| Current portion of amounts payable after more than one year | 42 | €39,649 | €40,448 | +€799 | +2.0% |
| Trade debts | 44 | €3,628 | €8,950 | +€5,322 | +147% |
| Suppliers | 440/4 | €3,628 | €8,950 | +€5,322 | +147% |
| Taxes, remuneration and social security | 45 | €417 | €851 | +€435 | +104% |
| Taxes | 450/3 | €417 | €851 | +€435 | +104% |
| Accrued charges and deferred income | 492/3 | €3,451 | - | -€3,451 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,554 | €35,608 | -€1,946 | -5.2% |
| Other operating charges | 640/8 | €16,973 | €16,379 | -€594 | -3.5% |
| Gross operating margin | 9900 | €30,388 | €27,652 | -€2,736 | -9.0% |
| Operating profit (loss) | 9901 | -€24,140 | -€24,335 | -€195 | -0.8% |
| Financial income | 75/76B | €4,801 | €140 | -€4,661 | -97.1% |
| Recurring financial income | 75 | €4,801 | €140 | -€4,661 | -97.1% |
| Financial charges | 65/66B | €9,820 | €8,550 | -€1,270 | -12.9% |
| Recurring financial charges | 65 | €9,820 | €8,550 | -€1,270 | -12.9% |
| Profit (loss) for the period before taxes | 9903 | -€29,159 | -€32,745 | -€3,587 | -12.3% |
| Income taxes | 67/77 | €296 | €869 | +€573 | +194% |
| Profit (loss) for the period | 9904 | -€29,454 | -€33,614 | -€4,160 | -14.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€29,454 | -€33,614 | -€4,160 | -14.1% |
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 18 October 2026 via checked.be.