ERH2: 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.
ERH2
Largest movements
- Current investments +€50,000
new in 2025: €50,000
- Tangible fixed assets -€35,038
down €35,038 (-26.3%), from €133,473 to €98,435
of which Furniture and vehicles: -€34,007
- Reserves +€48,754
up €48,754 (+27.0%), from €180,414 to €229,168
- Tax, wage and social debts -€19,527
down €19,527 (-83.3%), from €23,444 to €3,917
- Debts after one year -€16,810
down €16,810 (-56.4%), from €29,815 to €13,005
- Gross operating margin -€22,817
down €22,817 (-17.5%), from €130,612 to €107,795
- Depreciation +€15,810
up €15,810 (+82.2%), from €19,228 to €35,038
- Taxes -€12,104
down €12,104 (-36.6%), from €33,060 to €20,956
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 | €271,531 | €283,680 | +€12,149 | +4.5% |
| Fixed assets | 21/28 | €134,123 | €99,085 | -€35,038 | -26.1% |
| Tangible fixed assets | 22/27 | €133,473 | €98,435 | -€35,038 | -26.3% |
| Plant, machinery and equipment | 23 | €1,473 | €667 | -€806 | -54.7% |
| Furniture and vehicles | 24 | €130,646 | €96,639 | -€34,007 | -26.0% |
| Other tangible fixed assets | 26 | €1,354 | €1,129 | -€225 | -16.6% |
| Financial fixed assets | 28 | €650 | €650 | = | 0.0% |
| Current assets | 29/58 | €137,408 | €184,595 | +€47,187 | +34.3% |
| Amounts receivable within one year | 40/41 | €25,362 | €25,240 | -€122 | -0.5% |
| Trade receivables | 40 | €23,698 | €24,023 | +€325 | +1.4% |
| Other amounts receivable | 41 | €1,664 | €1,217 | -€447 | -26.9% |
| Current investments | 50/53 | - | €50,000 | +€50,000 | |
| Cash at bank and in hand | 54/58 | €109,961 | €107,230 | -€2,731 | -2.5% |
| Deferred charges and accrued income | 490/1 | €2,085 | €2,125 | +€40 | +1.9% |
| Total equity and liabilities | 10/49 | €271,531 | €283,680 | +€12,149 | +4.5% |
| Equity | 10/15 | €200,414 | €249,168 | +€48,754 | +24.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €180,414 | €229,168 | +€48,754 | +27.0% |
| Distributable reserves | 133 | €180,414 | €229,168 | +€48,754 | +27.0% |
| Amounts payable | 17/49 | €71,117 | €34,512 | -€36,605 | -51.5% |
| Amounts payable after more than one year | 17 | €29,815 | €13,005 | -€16,810 | -56.4% |
| Financial debts | 170/4 | €29,815 | €13,005 | -€16,810 | -56.4% |
| Amounts payable within one year | 42/48 | €41,302 | €21,507 | -€19,795 | -47.9% |
| Current portion of amounts payable after more than one year | 42 | €16,220 | €16,809 | +€589 | +3.6% |
| Trade debts | 44 | €1,638 | €781 | -€857 | -52.3% |
| Suppliers | 440/4 | €1,638 | €781 | -€857 | -52.3% |
| Taxes, remuneration and social security | 45 | €23,444 | €3,917 | -€19,527 | -83.3% |
| Taxes | 450/3 | €23,444 | €3,917 | -€19,527 | -83.3% |
| Non-recurring operating income | 76A | €22,993 | - | -€22,993 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,228 | €35,038 | +€15,810 | +82.2% |
| Other operating charges | 640/8 | €1,018 | €1,710 | +€692 | +68.0% |
| Gross operating margin | 9900 | €130,612 | €107,795 | -€22,817 | -17.5% |
| Operating profit (loss) | 9901 | €110,366 | €71,047 | -€39,319 | -35.6% |
| Financial income | 75/76B | €564 | €446 | -€118 | -20.9% |
| Recurring financial income | 75 | €564 | €446 | -€118 | -20.9% |
| Financial charges | 65/66B | €983 | €1,784 | +€801 | +81.5% |
| Recurring financial charges | 65 | €983 | €1,784 | +€801 | +81.5% |
| Profit (loss) for the period before taxes | 9903 | €109,947 | €69,709 | -€40,238 | -36.6% |
| Income taxes | 67/77 | €33,060 | €20,956 | -€12,104 | -36.6% |
| Profit (loss) for the period | 9904 | €76,887 | €48,753 | -€28,134 | -36.6% |
| Profit (loss) for the period to be appropriated | 9905 | €76,887 | €48,753 | -€28,134 | -36.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.