ERGUCO: 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.
ERGUCO
Largest movements
- Cash -€117,467
down €117,467 (-78.7%), from €149,273 to €31,806
mainly Receivables within one year (-€92,000) and Investment in fixed assets (net) (-€81,505)
No liability line moved by more than 1% of the balance sheet total.
- Turnover +€21,151
up €21,151 (+6.4%), from €331,822 to €352,973
- Gross operating margin +€20,847
up €20,847 (+6.3%), from €331,366 to €352,213
- Depreciation +€7,884
up €7,884 (+4.6%), from €171,691 to €179,575
- Financial income +€4,838
up €4,838 (+154.1%), from €3,140 to €7,978
of which Financial income: +€4,838
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 | €10,720,141 | €10,622,262 | -€97,879 | -0.9% |
| Fixed assets | 21/28 | €9,900,639 | €9,802,569 | -€98,070 | -1.0% |
| Tangible fixed assets | 22/27 | €5,134,144 | €5,036,074 | -€98,070 | -1.9% |
| Land and buildings | 22 | €5,030,709 | €4,876,095 | -€154,614 | -3.1% |
| Plant, machinery and equipment | 23 | €102,907 | €159,535 | +€56,628 | +55.0% |
| Furniture and vehicles | 24 | €528 | €444 | -€84 | -15.9% |
| Financial fixed assets | 28 | €4,766,495 | €4,766,495 | = | 0.0% |
| Current assets | 29/58 | €819,502 | €819,693 | +€191 | 0.0% |
| Amounts receivable within one year | 40/41 | €651,412 | €743,412 | +€92,000 | +14.1% |
| Other amounts receivable | 41 | €651,412 | €743,412 | +€92,000 | +14.1% |
| Cash at bank and in hand | 54/58 | €149,273 | €31,806 | -€117,467 | -78.7% |
| Deferred charges and accrued income | 490/1 | €18,817 | €44,475 | +€25,658 | +136.4% |
| Total equity and liabilities | 10/49 | €10,720,141 | €10,622,262 | -€97,879 | -0.9% |
| Equity | 10/15 | €6,765,089 | €6,739,309 | -€25,780 | -0.4% |
| Contributions | 10/11 | €2,000,000 | €2,000,000 | = | 0.0% |
| Capital | 10 | €2,000,000 | €2,000,000 | = | 0.0% |
| Issued capital | 100 | €2,000,000 | €2,000,000 | = | 0.0% |
| Reserves | 13 | €4,765,089 | €4,739,309 | -€25,780 | -0.5% |
| Non-distributable reserves | 130/1 | €200,000 | €200,000 | = | 0.0% |
| Legal reserve | 130 | €200,000 | €200,000 | = | 0.0% |
| Distributable reserves | 133 | €4,565,089 | €4,539,309 | -€25,780 | -0.6% |
| Amounts payable | 17/49 | €3,955,052 | €3,882,953 | -€72,099 | -1.8% |
| Amounts payable within one year | 42/48 | €3,922,577 | €3,863,557 | -€59,020 | -1.5% |
| Financial debts | 43 | €3,911,113 | €3,853,918 | -€57,195 | -1.5% |
| Other loans | 439 | €3,911,113 | €3,853,918 | -€57,195 | -1.5% |
| Taxes, remuneration and social security | 45 | €9,514 | €9,639 | +€125 | +1.3% |
| Remuneration and social security | 454/9 | €9,514 | €9,639 | +€125 | +1.3% |
| Other amounts payable | 47/48 | €1,950 | - | -€1,950 | |
| Accrued charges and deferred income | 492/3 | €32,475 | €19,396 | -€13,079 | -40.3% |
| Turnover | 70 | €331,822 | €352,973 | +€21,151 | +6.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €456 | €760 | +€304 | +66.7% |
| Remuneration, social security and pensions | 62 | €80,488 | €80,456 | -€32 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €171,691 | €179,575 | +€7,884 | +4.6% |
| Other operating charges | 640/8 | €125,622 | €125,880 | +€258 | +0.2% |
| Gross operating margin | 9900 | €331,366 | €352,213 | +€20,847 | +6.3% |
| Operating profit (loss) | 9901 | -€46,435 | -€33,698 | +€12,737 | +27.4% |
| Financial income | 75/76B | €3,140 | €7,978 | +€4,838 | +154.1% |
| Recurring financial income | 75 | €3,140 | €7,978 | +€4,838 | +154.1% |
| Non-recurring financial income | 76B | €3,140 | €7,978 | +€4,838 | +154.1% |
| Financial charges | 65/66B | €115 | €60 | -€55 | -47.8% |
| Recurring financial charges | 65 | €80 | €60 | -€20 | -25.0% |
| Non-recurring financial charges | 66B | €35 | - | -€35 | |
| Profit (loss) for the period before taxes | 9903 | -€43,410 | -€25,780 | +€17,630 | +40.6% |
| Profit (loss) for the period | 9904 | -€43,410 | -€25,780 | +€17,630 | +40.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€43,410 | -€25,780 | +€17,630 | +40.6% |
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 11 October 2026 via checked.be.