ERGL: 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.
ERGL
Largest movements
- Cash -€51,085
down €51,085 (-35.6%), from €143,415 to €92,330
mainly Contributions, distributions and other (-€125,064) and Receivables after one year (-€35,000)
- Receivables after one year +€35,000
new in 2025: €35,000
- Receivables within one year +€20,775
up €20,775 (+108.7%), from €19,117 to €39,891
of which Trade receivables: +€17,158
- Other debts +€66,564
new in 2025: €66,564
- Reserves -€58,500
down €58,500 (-42.3%), from €138,413 to €79,913
- Tax, wage and social debts -€2,621
down €2,621 (-48.6%), from €5,397 to €2,775
of which Remuneration and social security: -€2,400
- Trade debts -€1,729
down €1,729 (-89.0%), from €1,943 to €214
- Taxes +€9,121
up €9,121 (+102.6%), from €8,889 to €18,010
- Gross operating margin +€1,112
up €1,112 (+1.3%), from €85,779 to €86,891
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 | €164,562 | €168,172 | +€3,610 | +2.2% |
| Fixed assets | 21/28 | €2,030 | €950 | -€1,079 | -53.2% |
| Tangible fixed assets | 22/27 | €2,030 | €950 | -€1,079 | -53.2% |
| Furniture and vehicles | 24 | €2,030 | €950 | -€1,079 | -53.2% |
| Current assets | 29/58 | €162,532 | €167,222 | +€4,690 | +2.9% |
| Amounts receivable after more than one year | 29 | - | €35,000 | +€35,000 | |
| Other amounts receivable | 291 | - | €35,000 | +€35,000 | |
| Amounts receivable within one year | 40/41 | €19,117 | €39,891 | +€20,775 | +108.7% |
| Trade receivables | 40 | - | €17,158 | +€17,158 | |
| Other amounts receivable | 41 | €19,117 | €22,734 | +€3,617 | +18.9% |
| Cash at bank and in hand | 54/58 | €143,415 | €92,330 | -€51,085 | -35.6% |
| Total equity and liabilities | 10/49 | €164,562 | €168,172 | +€3,610 | +2.2% |
| Equity | 10/15 | €157,013 | €98,513 | -€58,500 | -37.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €138,413 | €79,913 | -€58,500 | -42.3% |
| Distributable reserves | 133 | €138,413 | €79,913 | -€58,500 | -42.3% |
| Amounts payable | 17/49 | €7,549 | €69,659 | +€62,111 | +822.8% |
| Amounts payable within one year | 42/48 | €7,339 | €69,553 | +€62,214 | +847.7% |
| Trade debts | 44 | €1,943 | €214 | -€1,729 | -89.0% |
| Suppliers | 440/4 | €1,943 | €214 | -€1,729 | -89.0% |
| Taxes, remuneration and social security | 45 | €5,397 | €2,775 | -€2,621 | -48.6% |
| Taxes | 450/3 | €2,997 | €2,775 | -€221 | -7.4% |
| Remuneration and social security | 454/9 | €2,400 | - | -€2,400 | |
| Other amounts payable | 47/48 | - | €66,564 | +€66,564 | |
| Accrued charges and deferred income | 492/3 | €209 | €106 | -€103 | -49.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €918 | €1,079 | +€161 | +17.6% |
| Other operating charges | 640/8 | €951 | €1,160 | +€209 | +22.0% |
| Gross operating margin | 9900 | €85,779 | €86,891 | +€1,112 | +1.3% |
| Operating profit (loss) | 9901 | €83,910 | €84,652 | +€742 | +0.9% |
| Financial income | 75/76B | €35 | - | -€35 | |
| Recurring financial income | 75 | €35 | - | -€35 | |
| Financial charges | 65/66B | €83 | €78 | -€5 | -6.0% |
| Recurring financial charges | 65 | €83 | €78 | -€5 | -6.0% |
| Profit (loss) for the period before taxes | 9903 | €83,862 | €84,574 | +€712 | +0.8% |
| Income taxes | 67/77 | €8,889 | €18,010 | +€9,121 | +102.6% |
| Profit (loss) for the period | 9904 | €74,973 | €66,564 | -€8,409 | -11.2% |
| Profit (loss) for the period to be appropriated | 9905 | €74,973 | €66,564 | -€8,409 | -11.2% |
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 29 September 2026 via checked.be.