ERH MANAGEMENT: 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.
ERH MANAGEMENT
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Reserves +€24,882
up €24,882 (+10.5%), from €236,398 to €261,280
- Other debts -€15,795
down €15,795 (-7.5%), from €210,549 to €194,754
- Debts after one year -€10,419
down €10,419 (-34.4%), from €30,283 to €19,865
- Advances received +€10,400
up €10,400 (+48.2%), from €21,585 to €31,985
- Trade debts +€7,214
up €7,214 (+48.8%), from €14,792 to €22,006
- Other operating charges -€2,718
down €2,718 (-68.4%), from €3,974 to €1,256
- Taxes +€2,288
up €2,288 (+15.5%), from €14,713 to €17,001
- Financial charges +€1,044
up €1,044 (+81.0%), from €1,289 to €2,333
- Depreciation -€848
down €848 (-32.5%), from €2,611 to €1,763
- Gross operating margin -€730
down €730 (-1.5%), from €47,965 to €47,235
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 | €566,606 | €569,794 | +€3,188 | +0.6% |
| Fixed assets | 21/28 | €564,709 | €564,045 | -€664 | -0.1% |
| Tangible fixed assets | 22/27 | €3,557 | €2,893 | -€664 | -18.7% |
| Furniture and vehicles | 24 | €2,844 | €2,608 | -€236 | -8.3% |
| Other tangible fixed assets | 26 | €713 | €285 | -€428 | -60.0% |
| Financial fixed assets | 28 | €561,152 | €561,152 | = | 0.0% |
| Current assets | 29/58 | €1,896 | €5,748 | +€3,852 | +203% |
| Cash at bank and in hand | 54/58 | €1,580 | €5,416 | +€3,836 | +243% |
| Deferred charges and accrued income | 490/1 | €317 | €332 | +€15 | +4.9% |
| Total equity and liabilities | 10/49 | €566,606 | €569,794 | +€3,188 | +0.6% |
| Equity | 10/15 | €242,598 | €267,480 | +€24,882 | +10.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €236,398 | €261,280 | +€24,882 | +10.5% |
| Distributable reserves | 133 | €236,398 | €261,280 | +€24,882 | +10.5% |
| Amounts payable | 17/49 | €324,008 | €302,314 | -€21,694 | -6.7% |
| Amounts payable after more than one year | 17 | €30,283 | €19,865 | -€10,419 | -34.4% |
| Financial debts | 170/4 | €30,283 | €19,865 | -€10,419 | -34.4% |
| Amounts payable within one year | 42/48 | €293,725 | €282,449 | -€11,275 | -3.8% |
| Current portion of amounts payable after more than one year | 42 | €16,303 | €10,419 | -€5,884 | -36.1% |
| Financial debts | 43 | €14 | €6 | -€8 | -58.6% |
| Credit institutions | 430/8 | €14 | €6 | -€8 | -58.6% |
| Trade debts | 44 | €14,792 | €22,006 | +€7,214 | +48.8% |
| Suppliers | 440/4 | €14,792 | €22,006 | +€7,214 | +48.8% |
| Advances received on contracts in progress | 46 | €21,585 | €31,985 | +€10,400 | +48.2% |
| Taxes, remuneration and social security | 45 | €30,482 | €23,281 | -€7,201 | -23.6% |
| Taxes | 450/3 | €30,482 | €20,781 | -€9,701 | -31.8% |
| Remuneration and social security | 454/9 | - | €2,500 | +€2,500 | |
| Other amounts payable | 47/48 | €210,549 | €194,754 | -€15,795 | -7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,611 | €1,763 | -€848 | -32.5% |
| Other operating charges | 640/8 | €3,974 | €1,256 | -€2,718 | -68.4% |
| Gross operating margin | 9900 | €47,965 | €47,235 | -€730 | -1.5% |
| Operating profit (loss) | 9901 | €41,381 | €44,216 | +€2,835 | +6.9% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €1,289 | €2,333 | +€1,044 | +81.0% |
| Recurring financial charges | 65 | €1,289 | €2,333 | +€1,044 | +81.0% |
| Profit (loss) for the period before taxes | 9903 | €40,092 | €41,883 | +€1,791 | +4.5% |
| Income taxes | 67/77 | €14,713 | €17,001 | +€2,288 | +15.5% |
| Profit (loss) for the period | 9904 | €25,379 | €24,882 | -€497 | -2.0% |
| Profit (loss) for the period to be appropriated | 9905 | €25,379 | €24,882 | -€497 | -2.0% |
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 17 October 2026 via checked.be.