ERGOT-BROGNON: 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.
ERGOT-BROGNON
Largest movements
- Stocks and contracts +€29,228
up €29,228 (+16.5%), from €177,361 to €206,590
- Tangible fixed assets +€27,689
up €27,689 (+41.6%), from €66,621 to €94,310
of which Furniture and vehicles: +€27,137
- Cash +€18,625
up €18,625 (+315.9%), from €5,897 to €24,521
mainly Debts after one year (+€78,314) and Net result for the year (+€16,906)
- Receivables within one year -€11,313
down €11,313 (-55.8%), from €20,278 to €8,965
of which Trade receivables: -€9,585
- Debts after one year +€78,314
up €78,314 (+161.1%), from €48,622 to €126,936
of which Other amounts payable: +€100,000
- Other debts -€58,506
down €58,506 (-49.7%), from €117,626 to €59,120
- Trade debts +€14,995
up €14,995 (+32.4%), from €46,342 to €61,336
- Reserves +€14,067
up €14,067 (+166.4%), from €8,453 to €22,520
- Accrued charges and deferred income +€7,710
up €7,710 (+5242.6%), from €147 to €7,857
- Gross operating margin +€33,695
up €33,695 (+178.8%), from €18,840 to €52,536
- Depreciation -€10,726
down €10,726 (-41.4%), from €25,921 to €15,195
- Other operating charges -€6,879
down €6,879 (-90.2%), from €7,623 to €744
- Financial charges +€537
up €537 (+18.6%), from €2,895 to €3,432
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 | €277,118 | €341,697 | +€64,579 | +23.3% |
| Fixed assets | 21/28 | €70,720 | €98,409 | +€27,689 | +39.2% |
| Tangible fixed assets | 22/27 | €66,621 | €94,310 | +€27,689 | +41.6% |
| Plant, machinery and equipment | 23 | €21,537 | €22,090 | +€552 | +2.6% |
| Furniture and vehicles | 24 | €45,084 | €72,220 | +€27,137 | +60.2% |
| Financial fixed assets | 28 | €4,099 | €4,099 | = | 0.0% |
| Current assets | 29/58 | €206,398 | €243,288 | +€36,890 | +17.9% |
| Stocks and contracts in progress | 3 | €177,361 | €206,590 | +€29,228 | +16.5% |
| Stocks | 30/36 | €177,361 | €206,590 | +€29,228 | +16.5% |
| Amounts receivable within one year | 40/41 | €20,278 | €8,965 | -€11,313 | -55.8% |
| Trade receivables | 40 | €18,550 | €8,965 | -€9,585 | -51.7% |
| Other amounts receivable | 41 | €1,728 | - | -€1,728 | |
| Current investments | 50/53 | €124 | €124 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €5,897 | €24,521 | +€18,625 | +315.9% |
| Deferred charges and accrued income | 490/1 | €2,738 | €3,088 | +€350 | +12.8% |
| Total equity and liabilities | 10/49 | €277,118 | €341,697 | +€64,579 | +23.3% |
| Equity | 10/15 | €25,563 | €42,469 | +€16,906 | +66.1% |
| Contributions | 10/11 | €34,000 | €34,000 | = | 0.0% |
| Reserves | 13 | €8,453 | €22,520 | +€14,067 | +166.4% |
| Tax-exempt reserves | 132 | €8,453 | €22,520 | +€14,067 | +166.4% |
| Profit (loss) carried forward | 14 | -€16,890 | -€14,051 | +€2,840 | +16.8% |
| Provisions and deferred taxes | 16 | €2,818 | €7,507 | +€4,689 | +166.4% |
| Deferred taxes | 168 | €2,818 | €7,507 | +€4,689 | +166.4% |
| Amounts payable | 17/49 | €248,738 | €291,722 | +€42,984 | +17.3% |
| Amounts payable after more than one year | 17 | €48,622 | €126,936 | +€78,314 | +161.1% |
| Financial debts | 170/4 | €48,622 | €26,936 | -€21,686 | -44.6% |
| Other amounts payable | 178/9 | - | €100,000 | +€100,000 | |
| Amounts payable within one year | 42/48 | €199,969 | €156,929 | -€43,040 | -21.5% |
| Current portion of amounts payable after more than one year | 42 | €35,971 | €35,971 | = | 0.0% |
| Trade debts | 44 | €46,342 | €61,336 | +€14,995 | +32.4% |
| Suppliers | 440/4 | €46,342 | €61,336 | +€14,995 | +32.4% |
| Taxes, remuneration and social security | 45 | €30 | €502 | +€471 | +1558.8% |
| Taxes | 450/3 | €30 | €502 | +€471 | +1558.8% |
| Other amounts payable | 47/48 | €117,626 | €59,120 | -€58,506 | -49.7% |
| Accrued charges and deferred income | 492/3 | €147 | €7,857 | +€7,710 | +5242.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,921 | €15,195 | -€10,726 | -41.4% |
| Other operating charges | 640/8 | €7,623 | €744 | -€6,879 | -90.2% |
| Non-recurring operating charges | 66A | - | €11,580 | +€11,580 | |
| Gross operating margin | 9900 | €18,840 | €52,536 | +€33,695 | +178.8% |
| Operating profit (loss) | 9901 | -€14,704 | €25,017 | +€39,721 | |
| Financial income | 75/76B | €105 | €43 | -€62 | -59.2% |
| Recurring financial income | 75 | €105 | €43 | -€62 | -59.2% |
| Financial charges | 65/66B | €2,895 | €3,432 | +€537 | +18.6% |
| Recurring financial charges | 65 | €2,895 | €3,432 | +€537 | +18.6% |
| Profit (loss) for the period before taxes | 9903 | -€17,494 | €21,628 | +€39,122 | |
| Transfer from deferred taxes | 780 | €536 | €536 | = | 0.0% |
| Transfer to deferred taxes | 680 | - | €5,225 | +€5,225 | |
| Income taxes | 67/77 | -€8 | €33 | +€41 | |
| Profit (loss) for the period | 9904 | -€16,950 | €16,906 | +€33,856 | |
| Transfer from tax-exempt reserves | 789 | €1,608 | €1,608 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | - | €15,674 | +€15,674 | |
| Profit (loss) for the period to be appropriated | 9905 | -€15,342 | €2,840 | +€18,182 |
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 8 October 2026 via checked.be.