ERICA ROSA: 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.
ERICA ROSA
Largest movements
- Tangible fixed assets -€56,987
down €56,987 (-20.6%), from €276,561 to €219,573
of which Land and buildings: -€40,130
- Receivables within one year +€39,563
up €39,563 (+45.4%), from €87,137 to €126,700
of which Trade receivables: +€39,563
- Stocks and contracts +€21,522
up €21,522 (+21.1%), from €102,216 to €123,738
- Profit (loss) carried forward +€55,929
up €55,929 (+39.5%), from -€141,427 to -€85,498
- Current portion of long-term debt -€28,125
down €28,125 (-46.7%), from €60,237 to €32,112
- Debts after one year -€27,912
down €27,912 (-7.7%), from €363,013 to €335,102
- Trade debts +€20,474
up €20,474 (+3,241%), from €632 to €21,105
- Investment grants -€5,915
down €5,915 (-21.2%), from €27,901 to €21,987
- Gross operating margin +€54,668
up €54,668 (+45.7%), from €119,754 to €174,422
- Staff costs +€14,227
up €14,227 (+68.9%), from €20,651 to €34,878
- Depreciation -€2,995
down €2,995 (-4.3%), from €69,215 to €66,220
- Financial income -€2,565
down €2,565 (-30.2%), from €8,479 to €5,915
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 | €567,187 | €574,931 | +€7,744 | +1.4% |
| Fixed assets | 21/28 | €276,561 | €222,373 | -€54,187 | -19.6% |
| Tangible fixed assets | 22/27 | €276,561 | €219,573 | -€56,987 | -20.6% |
| Land and buildings | 22 | €179,549 | €139,419 | -€40,130 | -22.4% |
| Plant, machinery and equipment | 23 | €65,148 | €62,501 | -€2,648 | -4.1% |
| Furniture and vehicles | 24 | €31,864 | €17,654 | -€14,210 | -44.6% |
| Financial fixed assets | 28 | - | €2,800 | +€2,800 | |
| Current assets | 29/58 | €290,627 | €352,558 | +€61,931 | +21.3% |
| Stocks and contracts in progress | 3 | €102,216 | €123,738 | +€21,522 | +21.1% |
| Stocks | 30/36 | €102,216 | €123,738 | +€21,522 | +21.1% |
| Amounts receivable within one year | 40/41 | €87,137 | €126,700 | +€39,563 | +45.4% |
| Trade receivables | 40 | €87,130 | €126,693 | +€39,563 | +45.4% |
| Other amounts receivable | 41 | €8 | €8 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €94,536 | €91,859 | -€2,677 | -2.8% |
| Deferred charges and accrued income | 490/1 | €6,737 | €10,260 | +€3,523 | +52.3% |
| Total equity and liabilities | 10/49 | €567,187 | €574,931 | +€7,744 | +1.4% |
| Equity | 10/15 | €12,975 | €62,989 | +€50,015 | +385% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €1,500 | €1,500 | = | 0.0% |
| Distributable reserves | 133 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€141,427 | -€85,498 | +€55,929 | +39.5% |
| Investment grants | 15 | €27,901 | €21,987 | -€5,915 | -21.2% |
| Amounts payable | 17/49 | €554,213 | €511,942 | -€42,271 | -7.6% |
| Amounts payable after more than one year | 17 | €363,013 | €335,102 | -€27,912 | -7.7% |
| Financial debts | 170/4 | €363,013 | €335,102 | -€27,912 | -7.7% |
| Amounts payable within one year | 42/48 | €191,200 | €176,840 | -€14,359 | -7.5% |
| Current portion of amounts payable after more than one year | 42 | €60,237 | €32,112 | -€28,125 | -46.7% |
| Financial debts | 43 | €0 | €25 | +€25 | +5,652% |
| Credit institutions | 430/8 | €0 | €25 | +€25 | +5,652% |
| Trade debts | 44 | €632 | €21,105 | +€20,474 | +3,241% |
| Suppliers | 440/4 | €632 | €21,105 | +€20,474 | +3,241% |
| Taxes, remuneration and social security | 45 | €7,009 | €5,456 | -€1,554 | -22.2% |
| Taxes | 450/3 | €6,010 | €5,387 | -€623 | -10.4% |
| Remuneration and social security | 454/9 | €1,000 | €69 | -€931 | -93.1% |
| Other amounts payable | 47/48 | €123,321 | €118,142 | -€5,179 | -4.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €20,651 | €34,878 | +€14,227 | +68.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,215 | €66,220 | -€2,995 | -4.3% |
| Other operating charges | 640/8 | €7,748 | €7,680 | -€69 | -0.9% |
| Gross operating margin | 9900 | €119,754 | €174,422 | +€54,668 | +45.7% |
| Operating profit (loss) | 9901 | €22,139 | €65,644 | +€43,505 | +197% |
| Financial income | 75/76B | €8,479 | €5,915 | -€2,565 | -30.2% |
| Recurring financial income | 75 | €8,479 | €5,915 | -€2,565 | -30.2% |
| Financial charges | 65/66B | €15,314 | €15,175 | -€139 | -0.9% |
| Recurring financial charges | 65 | €15,314 | €15,175 | -€139 | -0.9% |
| Profit (loss) for the period before taxes | 9903 | €15,304 | €56,383 | +€41,079 | +268% |
| Income taxes | 67/77 | €533 | €454 | -€79 | -14.7% |
| Profit (loss) for the period | 9904 | €14,771 | €55,929 | +€41,158 | +279% |
| Profit (loss) for the period to be appropriated | 9905 | €14,771 | €55,929 | +€41,158 | +279% |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.