Erica: 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.
Erica
Largest movements
- Current investments +€2.3m
up €2.3m (+24.9%), from €9.2m to €11.5m
- Cash -€623,917
down €623,917 (-94.6%), from €659,582 to €35,665
mainly Contributions, distributions and other (-€3.0m) and Current investments (-€2.3m)
- Reserves +€5.3m
up €5.3m (+76.3%), from €7.0m to €12.3m
of which Distributable reserves: +€5.3m
- Contributions -€3.0m
down €3.0m (-24.0%), from €12.5m to €9.5m
- Other debts -€999,817
down €999,817 (-100.0%), from €1.0m to €183
- Financial income -€866,370
down €866,370 (-14.0%), from €6.2m to €5.3m
- Depreciation -€66,217
down €66,217 (-26.5%), from €249,992 to €183,775
- Financial charges +€38,206
up €38,206 (+248.2%), from €15,394 to €53,599
- Taxes +€29,342
up €29,342 (+43.6%), from €67,269 to €96,610
- Gross operating margin +€16,828
up €16,828 (+3.4%), from €501,879 to €518,707
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 | €25,799,749 | €27,281,448 | +€1.5m | +5.7% |
| Fixed assets | 21/28 | €15,887,091 | €15,703,316 | -€183,775 | -1.2% |
| Tangible fixed assets | 22/27 | €4,027,616 | €3,843,841 | -€183,775 | -4.6% |
| Land and buildings | 22 | €3,879,717 | €3,703,973 | -€175,745 | -4.5% |
| Plant, machinery and equipment | 23 | €147,898 | €139,868 | -€8,030 | -5.4% |
| Financial fixed assets | 28 | €11,859,476 | €11,859,476 | = | 0.0% |
| Current assets | 29/58 | €9,912,658 | €11,578,132 | +€1.7m | +16.8% |
| Amounts receivable within one year | 40/41 | €14,476 | €7,032 | -€7,443 | -51.4% |
| Trade receivables | 40 | €5,712 | €7,032 | +€1,320 | +23.1% |
| Other amounts receivable | 41 | €8,764 | - | -€8,764 | |
| Current investments | 50/53 | €9,238,600 | €11,535,435 | +€2.3m | +24.9% |
| Cash at bank and in hand | 54/58 | €659,582 | €35,665 | -€623,917 | -94.6% |
| Total equity and liabilities | 10/49 | €25,799,749 | €27,281,448 | +€1.5m | +5.7% |
| Equity | 10/15 | €24,798,291 | €27,276,968 | +€2.5m | +10.0% |
| Contributions | 10/11 | €12,482,513 | €9,482,513 | -€3.0m | -24.0% |
| Capital | 10 | €12,482,513 | €9,482,513 | -€3.0m | -24.0% |
| Issued capital | 100 | €12,482,513 | €9,482,513 | -€3.0m | -24.0% |
| Reserves | 13 | €6,985,793 | €12,315,478 | +€5.3m | +76.3% |
| Non-distributable reserves | 130/1 | €1,907,429 | €1,907,429 | = | 0.0% |
| Legal reserve | 130 | €1,248,251 | €1,248,251 | = | 0.0% |
| Own shares acquired | 1312 | €659,178 | €659,178 | = | 0.0% |
| Tax-exempt reserves | 132 | €13,248 | €12,948 | -€300 | -2.3% |
| Distributable reserves | 133 | €5,065,116 | €10,395,100 | +€5.3m | +105.2% |
| Profit (loss) carried forward | 14 | €5,329,984 | €5,478,977 | +€148,993 | +2.8% |
| Provisions and deferred taxes | 16 | €340 | €240 | -€100 | -29.4% |
| Deferred taxes | 168 | €340 | €240 | -€100 | -29.4% |
| Amounts payable | 17/49 | €1,001,119 | €4,240 | -€996,878 | -99.6% |
| Amounts payable within one year | 42/48 | €1,001,119 | €4,240 | -€996,878 | -99.6% |
| Financial debts | 43 | €37 | - | -€37 | |
| Credit institutions | 430/8 | €37 | - | -€37 | |
| Trade debts | 44 | €968 | €1,026 | +€58 | +6.0% |
| Suppliers | 440/4 | €968 | €1,026 | +€58 | +6.0% |
| Taxes, remuneration and social security | 45 | €114 | €3,032 | +€2,918 | +2554.7% |
| Taxes | 450/3 | €114 | €3,032 | +€2,918 | +2554.7% |
| Other amounts payable | 47/48 | €1,000,000 | €183 | -€999,817 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €249,992 | €183,775 | -€66,217 | -26.5% |
| Other operating charges | 640/8 | €43,288 | €43,422 | +€135 | +0.3% |
| Gross operating margin | 9900 | €501,879 | €518,707 | +€16,828 | +3.4% |
| Operating profit (loss) | 9901 | €208,599 | €291,509 | +€82,910 | +39.7% |
| Financial income | 75/76B | €6,203,647 | €5,337,277 | -€866,370 | -14.0% |
| Recurring financial income | 75 | €6,203,647 | €5,337,277 | -€866,370 | -14.0% |
| Financial charges | 65/66B | €15,394 | €53,599 | +€38,206 | +248.2% |
| Recurring financial charges | 65 | €15,394 | €53,599 | +€38,206 | +248.2% |
| Profit (loss) for the period before taxes | 9903 | €6,396,853 | €5,575,187 | -€821,666 | -12.8% |
| Transfer from deferred taxes | 780 | €100 | €100 | = | 0.0% |
| Income taxes | 67/77 | €67,269 | €96,610 | +€29,342 | +43.6% |
| Profit (loss) for the period | 9904 | €6,329,684 | €5,478,677 | -€851,007 | -13.4% |
| Transfer from tax-exempt reserves | 789 | €300 | €300 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €6,329,984 | €5,478,977 | -€851,007 | -13.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.