ERIKA REDEL: what changed
ERIKA REDEL
Largest movements
- Current investments +€309,504
up €309,504 (+35.0%), from €884,461 to €1.2m
- Receivables within one year -€114,087
down €114,087 (-69.5%), from €164,087 to €50,000
of which Other amounts receivable: -€69,087
- Cash -€79,680
down €79,680 (-24.6%), from €324,436 to €244,756
mainly Current investments (-€309,504) and Contributions, distributions and other (-€218,484)
- Reserves +€68,593
up €68,593 (+5.1%), from €1.3m to €1.4m
of which Distributable reserves: +€68,593
- Tax, wage and social debts +€43,884
up €43,884 (+115%), from €38,268 to €82,152
of which Taxes: +€45,833
- Gross operating margin +€229,974
up €229,974 (+120%), from €191,832 to €421,806
- Taxes +€88,269
up €88,269 (+142%), from €62,289 to €150,558
- Financial income +€10,256
up €10,256 (+40.8%), from €25,117 to €35,373
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,409,150 | €1,525,533 | +€116,382 | +8.3% |
| Fixed assets | 21/28 | €31,926 | €22,968 | -€8,959 | -28.1% |
| Tangible fixed assets | 22/27 | €21,901 | €12,943 | -€8,959 | -40.9% |
| Furniture and vehicles | 24 | €21,901 | €12,943 | -€8,959 | -40.9% |
| Financial fixed assets | 28 | €10,025 | €10,025 | = | 0.0% |
| Current assets | 29/58 | €1,377,224 | €1,502,565 | +€125,341 | +9.1% |
| Amounts receivable within one year | 40/41 | €164,087 | €50,000 | -€114,087 | -69.5% |
| Trade receivables | 40 | €45,000 | - | -€45,000 | |
| Other amounts receivable | 41 | €119,087 | €50,000 | -€69,087 | -58.0% |
| Current investments | 50/53 | €884,461 | €1,193,965 | +€309,504 | +35.0% |
| Cash at bank and in hand | 54/58 | €324,436 | €244,756 | -€79,680 | -24.6% |
| Deferred charges and accrued income | 490/1 | €4,240 | €13,844 | +€9,604 | +227% |
| Total equity and liabilities | 10/49 | €1,409,150 | €1,525,533 | +€116,382 | +8.3% |
| Equity | 10/15 | €1,369,779 | €1,438,372 | +€68,593 | +5.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,349,779 | €1,418,372 | +€68,593 | +5.1% |
| Tax-exempt reserves | 132 | €3,672 | €3,672 | = | 0.0% |
| Distributable reserves | 133 | €1,346,107 | €1,414,700 | +€68,593 | +5.1% |
| Amounts payable | 17/49 | €39,371 | €87,161 | +€47,790 | +121% |
| Amounts payable within one year | 42/48 | €39,371 | €87,028 | +€47,657 | +121% |
| Trade debts | 44 | €1,104 | €3,247 | +€2,144 | +194% |
| Suppliers | 440/4 | €1,104 | €3,247 | +€2,144 | +194% |
| Taxes, remuneration and social security | 45 | €38,268 | €82,152 | +€43,884 | +115% |
| Taxes | 450/3 | €36,318 | €82,152 | +€45,833 | +126% |
| Remuneration and social security | 454/9 | €1,950 | - | -€1,950 | |
| Other amounts payable | 47/48 | - | €1,629 | +€1,629 | |
| Accrued charges and deferred income | 492/3 | - | €133 | +€133 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,311 | €17,650 | +€1,339 | +8.2% |
| Other operating charges | 640/8 | €1,940 | €1,829 | -€110 | -5.7% |
| Gross operating margin | 9900 | €191,832 | €421,806 | +€229,974 | +120% |
| Operating profit (loss) | 9901 | €173,582 | €402,327 | +€228,745 | +132% |
| Financial income | 75/76B | €25,117 | €35,373 | +€10,256 | +40.8% |
| Recurring financial income | 75 | €25,117 | €35,373 | +€10,256 | +40.8% |
| Financial charges | 65/66B | €1,441 | €65 | -€1,377 | -95.5% |
| Recurring financial charges | 65 | €1,441 | €65 | -€1,377 | -95.5% |
| Profit (loss) for the period before taxes | 9903 | €197,257 | €437,635 | +€240,378 | +122% |
| Income taxes | 67/77 | €62,289 | €150,558 | +€88,269 | +142% |
| Profit (loss) for the period | 9904 | €134,968 | €287,077 | +€152,109 | +113% |
| Profit (loss) for the period to be appropriated | 9905 | €134,968 | €287,077 | +€152,109 | +113% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.