ERGON: 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.
ERGON
Largest movements
- Receivables within one year +€192,978
up €192,978 (+99.8%), from €193,338 to €386,315
of which Trade receivables: +€268,785
- Tangible fixed assets -€34,838
down €34,838 (-4.9%), from €712,954 to €678,116
- Profit (loss) carried forward +€99,343
no longer reported in 2024 (was -€99,343)
- Tax, wage and social debts +€28,999
up €28,999 (+172.7%), from €16,792 to €45,791
of which Taxes: +€30,973
- Reserves +€24,290
up €24,290 (+783.9%), from €3,099 to €27,389
of which Distributable reserves: +€23,076
- Staff costs -€65,375
down €65,375, from €65,265 to -€109
- Gross operating margin +€14,062
up €14,062 (+7.8%), from €180,469 to €194,531
- Financial charges -€9,757
down €9,757 (-33.5%), from €29,089 to €19,332
- Taxes +€4,158
new in 2024: €4,158
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €912,008 | €1,069,735 | +€157,727 | +17.3% |
| Fixed assets | 21/28 | €712,954 | €678,116 | -€34,838 | -4.9% |
| Tangible fixed assets | 22/27 | €712,954 | €678,116 | -€34,838 | -4.9% |
| Land and buildings | 22 | €712,954 | €678,116 | -€34,838 | -4.9% |
| Current assets | 29/58 | €199,054 | €391,619 | +€192,566 | +96.7% |
| Amounts receivable within one year | 40/41 | €193,338 | €386,315 | +€192,978 | +99.8% |
| Trade receivables | 40 | €115,987 | €384,772 | +€268,785 | +231.7% |
| Other amounts receivable | 41 | €77,351 | €1,543 | -€75,807 | -98.0% |
| Cash at bank and in hand | 54/58 | €5,312 | €4,880 | -€432 | -8.1% |
| Deferred charges and accrued income | 490/1 | €404 | €424 | +€19 | +4.8% |
| Total equity and liabilities | 10/49 | €912,008 | €1,069,735 | +€157,727 | +17.3% |
| Equity | 10/15 | €240,243 | €363,876 | +€123,633 | +51.5% |
| Contributions | 10/11 | €336,487 | €336,487 | = | 0.0% |
| Capital | 10 | €336,487 | €336,487 | = | 0.0% |
| Issued capital | 100 | €336,487 | €336,487 | = | 0.0% |
| Reserves | 13 | €3,099 | €27,389 | +€24,290 | +783.9% |
| Non-distributable reserves | 130/1 | €3,099 | €4,313 | +€1,215 | +39.2% |
| Legal reserve | 130 | €3,099 | €4,313 | +€1,215 | +39.2% |
| Distributable reserves | 133 | - | €23,076 | +€23,076 | |
| Profit (loss) carried forward | 14 | -€99,343 | - | +€99,343 | |
| Amounts payable | 17/49 | €671,765 | €705,860 | +€34,094 | +5.1% |
| Amounts payable after more than one year | 17 | €60,062 | €60,062 | = | 0.0% |
| Financial debts | 170/4 | €60,062 | €60,062 | = | 0.0% |
| Amounts payable within one year | 42/48 | €611,704 | €645,798 | +€34,094 | +5.6% |
| Trade debts | 44 | €32,528 | €32,485 | -€43 | -0.1% |
| Suppliers | 440/4 | €32,528 | €32,485 | -€43 | -0.1% |
| Advances received on contracts in progress | 46 | €34,792 | €32,444 | -€2,348 | -6.7% |
| Taxes, remuneration and social security | 45 | €16,792 | €45,791 | +€28,999 | +172.7% |
| Taxes | 450/3 | €14,818 | €45,791 | +€30,973 | +209.0% |
| Remuneration and social security | 454/9 | €1,974 | - | -€1,974 | |
| Other amounts payable | 47/48 | €527,591 | €535,078 | +€7,487 | +1.4% |
| Remuneration, social security and pensions | 62 | €65,265 | -€109 | -€65,375 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,838 | €34,838 | = | 0.0% |
| Other operating charges | 640/8 | €12,130 | €12,679 | +€550 | +4.5% |
| Gross operating margin | 9900 | €180,469 | €194,531 | +€14,062 | +7.8% |
| Operating profit (loss) | 9901 | €68,236 | €147,123 | +€78,887 | +115.6% |
| Financial charges | 65/66B | €29,089 | €19,332 | -€9,757 | -33.5% |
| Recurring financial charges | 65 | €29,089 | €19,332 | -€9,757 | -33.5% |
| Profit (loss) for the period before taxes | 9903 | €39,146 | €127,791 | +€88,645 | +226.4% |
| Income taxes | 67/77 | - | €4,158 | +€4,158 | |
| Profit (loss) for the period | 9904 | €39,146 | €123,633 | +€84,487 | +215.8% |
| Profit (loss) for the period to be appropriated | 9905 | €39,146 | €123,633 | +€84,487 | +215.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.