ERICARD: 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.
ERICARD
Largest movements
- Cash +€389,664
up €389,664 (+54.0%), from €721,849 to €1.1m
mainly Net result for the year (+€232,454) and Current investments (+€192,624)
- Current investments -€192,624
down €192,624 (-59.3%), from €324,681 to €132,057
- Reserves +€232,532
up €232,532 (+16.2%), from €1.4m to €1.7m
of which Distributable reserves: +€172,300
- Debts after one year -€20,000
down €20,000 (-20.3%), from €98,333 to €78,333
- Financial income +€12,291
up €12,291 (+318.5%), from €3,859 to €16,150
- Depreciation +€6,317
up €6,317 (+15.4%), from €41,076 to €47,393
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 | €1,611,746 | €1,807,933 | +€196,187 | +12.2% |
| Fixed assets | 21/28 | €532,077 | €532,004 | -€73 | 0.0% |
| Tangible fixed assets | 22/27 | €527,072 | €526,999 | -€73 | 0.0% |
| Land and buildings | 22 | €496,008 | €465,393 | -€30,614 | -6.2% |
| Plant, machinery and equipment | 23 | €18,851 | €57,214 | +€38,363 | +203.5% |
| Furniture and vehicles | 24 | €12,213 | €4,392 | -€7,822 | -64.0% |
| Financial fixed assets | 28 | €5,005 | €5,005 | = | 0.0% |
| Current assets | 29/58 | €1,079,670 | €1,275,929 | +€196,260 | +18.2% |
| Amounts receivable within one year | 40/41 | €29,447 | €28,502 | -€944 | -3.2% |
| Other amounts receivable | 41 | €29,447 | €28,502 | -€944 | -3.2% |
| Current investments | 50/53 | €324,681 | €132,057 | -€192,624 | -59.3% |
| Cash at bank and in hand | 54/58 | €721,849 | €1,111,513 | +€389,664 | +54.0% |
| Deferred charges and accrued income | 490/1 | €3,693 | €3,857 | +€164 | +4.4% |
| Total equity and liabilities | 10/49 | €1,611,746 | €1,807,933 | +€196,187 | +12.2% |
| Equity | 10/15 | €1,452,427 | €1,684,881 | +€232,454 | +16.0% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | €1,433,513 | €1,666,045 | +€232,532 | +16.2% |
| Tax-exempt reserves | 132 | €189,913 | €250,145 | +€60,232 | +31.7% |
| Distributable reserves | 133 | €1,243,600 | €1,415,900 | +€172,300 | +13.9% |
| Profit (loss) carried forward | 14 | €164 | €85 | -€79 | -48.0% |
| Amounts payable | 17/49 | €159,320 | €123,053 | -€36,267 | -22.8% |
| Amounts payable after more than one year | 17 | €98,333 | €78,333 | -€20,000 | -20.3% |
| Financial debts | 170/4 | €98,333 | €78,333 | -€20,000 | -20.3% |
| Amounts payable within one year | 42/48 | €60,987 | €44,720 | -€16,267 | -26.7% |
| Current portion of amounts payable after more than one year | 42 | €35,040 | €20,000 | -€15,040 | -42.9% |
| Trade debts | 44 | €477 | €5,010 | +€4,533 | +951.3% |
| Suppliers | 440/4 | €477 | €5,010 | +€4,533 | +951.3% |
| Taxes, remuneration and social security | 45 | €25,470 | €19,710 | -€5,760 | -22.6% |
| Taxes | 450/3 | €25,470 | €19,710 | -€5,760 | -22.6% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,076 | €47,393 | +€6,317 | +15.4% |
| Other operating charges | 640/8 | €3,584 | €7,022 | +€3,438 | +95.9% |
| Gross operating margin | 9900 | €365,352 | €364,655 | -€697 | -0.2% |
| Operating profit (loss) | 9901 | €320,692 | €310,240 | -€10,452 | -3.3% |
| Financial income | 75/76B | €3,859 | €16,150 | +€12,291 | +318.5% |
| Recurring financial income | 75 | €3,859 | €16,150 | +€12,291 | +318.5% |
| Financial charges | 65/66B | €6,334 | €4,318 | -€2,017 | -31.8% |
| Recurring financial charges | 65 | €6,334 | €4,318 | -€2,017 | -31.8% |
| Profit (loss) for the period before taxes | 9903 | €318,217 | €322,072 | +€3,856 | +1.2% |
| Income taxes | 67/77 | €89,362 | €89,619 | +€257 | +0.3% |
| Profit (loss) for the period | 9904 | €228,855 | €232,454 | +€3,599 | +1.6% |
| Transfer from tax-exempt reserves | 789 | €71,200 | €45,018 | -€26,182 | -36.8% |
| Transfer to tax-exempt reserves | 689 | €105,250 | €105,250 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €194,805 | €172,222 | -€22,583 | -11.6% |
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 29 September 2026 via checked.be.