ERIC GENREITH: 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.
ERIC GENREITH
Largest movements
- Cash -€97,517
down €97,517 (-47.5%), from €205,257 to €107,740
mainly Investment in fixed assets (net) (-€68,786) and Net result for the year (-€26,048)
- Tangible fixed assets +€25,291
up €25,291 (+5.8%), from €434,509 to €459,800
of which Furniture and vehicles: +€50,628
- Stocks and contracts +€13,810
up €13,810 (+39.0%), from €35,420 to €49,230
- Receivables within one year +€11,066
up €11,066 (+17.2%), from €64,307 to €75,373
of which Trade receivables: +€10,778
- Profit (loss) carried forward -€26,048
down €26,048 (-79.6%), from €32,704 to €6,656
- Debts after one year -€17,688
down €17,688 (-10.1%), from €174,891 to €157,203
- Other debts -€11,641
down €11,641 (-2.9%), from €404,578 to €392,937
- Gross operating margin -€24,951
down €24,951 (-16.5%), from €150,822 to €125,871
- Financial charges +€18,891
up €18,891 (+41.9%), from €45,081 to €63,972
- Other operating charges -€17,509
down €17,509 (-90.6%), from €19,317 to €1,808
- Depreciation +€12,779
up €12,779 (+41.6%), from €30,715 to €43,495
- Staff costs -€3,443
down €3,443 (-6.3%), from €54,772 to €51,329
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 | €741,617 | €692,258 | -€49,358 | -6.7% |
| Fixed assets | 21/28 | €434,624 | €459,915 | +€25,291 | +5.8% |
| Tangible fixed assets | 22/27 | €434,509 | €459,800 | +€25,291 | +5.8% |
| Land and buildings | 22 | €341,019 | €332,195 | -€8,824 | -2.6% |
| Plant, machinery and equipment | 23 | €56,469 | €41,994 | -€14,475 | -25.6% |
| Furniture and vehicles | 24 | €20,580 | €71,208 | +€50,628 | +246% |
| Other tangible fixed assets | 26 | €16,442 | €14,403 | -€2,038 | -12.4% |
| Financial fixed assets | 28 | €115 | €115 | = | 0.0% |
| Current assets | 29/58 | €306,993 | €232,343 | -€74,650 | -24.3% |
| Stocks and contracts in progress | 3 | €35,420 | €49,230 | +€13,810 | +39.0% |
| Stocks | 30/36 | €35,420 | €49,230 | +€13,810 | +39.0% |
| Amounts receivable within one year | 40/41 | €64,307 | €75,373 | +€11,066 | +17.2% |
| Trade receivables | 40 | €55,726 | €66,505 | +€10,778 | +19.3% |
| Other amounts receivable | 41 | €8,580 | €8,868 | +€288 | +3.4% |
| Cash at bank and in hand | 54/58 | €205,257 | €107,740 | -€97,517 | -47.5% |
| Deferred charges and accrued income | 490/1 | €2,009 | €0 | -€2,009 | -100% |
| Total equity and liabilities | 10/49 | €741,617 | €692,258 | -€49,358 | -6.7% |
| Equity | 10/15 | €119,204 | €93,156 | -€26,048 | -21.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €66,500 | €66,500 | = | 0.0% |
| Distributable reserves | 133 | €66,500 | €66,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €32,704 | €6,656 | -€26,048 | -79.6% |
| Amounts payable | 17/49 | €622,413 | €599,103 | -€23,310 | -3.7% |
| Amounts payable after more than one year | 17 | €174,891 | €157,203 | -€17,688 | -10.1% |
| Financial debts | 170/4 | €174,891 | €157,203 | -€17,688 | -10.1% |
| Amounts payable within one year | 42/48 | €447,522 | €441,900 | -€5,623 | -1.3% |
| Current portion of amounts payable after more than one year | 42 | €17,486 | €17,688 | +€202 | +1.2% |
| Trade debts | 44 | €19,712 | €18,385 | -€1,327 | -6.7% |
| Suppliers | 440/4 | €19,712 | €18,385 | -€1,327 | -6.7% |
| Taxes, remuneration and social security | 45 | €5,746 | €12,890 | +€7,144 | +124% |
| Taxes | 450/3 | €4,079 | €12,793 | +€8,714 | +214% |
| Remuneration and social security | 454/9 | €1,667 | €97 | -€1,570 | -94.2% |
| Other amounts payable | 47/48 | €404,578 | €392,937 | -€11,641 | -2.9% |
| Remuneration, social security and pensions | 62 | €54,772 | €51,329 | -€3,443 | -6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,715 | €43,495 | +€12,779 | +41.6% |
| Other operating charges | 640/8 | €19,317 | €1,808 | -€17,509 | -90.6% |
| Gross operating margin | 9900 | €150,822 | €125,871 | -€24,951 | -16.5% |
| Operating profit (loss) | 9901 | €46,018 | €29,239 | -€16,779 | -36.5% |
| Financial income | 75/76B | €9,159 | €8,817 | -€343 | -3.7% |
| Recurring financial income | 75 | €9,159 | €8,817 | -€343 | -3.7% |
| Financial charges | 65/66B | €45,081 | €63,972 | +€18,891 | +41.9% |
| Recurring financial charges | 65 | €45,081 | €63,972 | +€18,891 | +41.9% |
| Profit (loss) for the period before taxes | 9903 | €10,097 | -€25,916 | -€36,013 | |
| Income taxes | 67/77 | €2,355 | €132 | -€2,223 | -94.4% |
| Profit (loss) for the period | 9904 | €7,742 | -€26,048 | -€33,790 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,742 | -€26,048 | -€33,790 |
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 13 October 2026 via checked.be.