ERINA: 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.
What changed
ERINA
NACE 47.512, Retail sale of household textiles and bedding
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€46,294
2024 · €27,077+€19,217
Equity
€139,007
2024 · €92,712+€46,294
Cash
€160,918
2024 · €120,549+€40,369
Balance sheet total
€458,626
2024 · €349,669+€108,957
Largest movements
Assets
- Tangible fixed assets +€51,189
up €51,189 (+322%), from €15,920 to €67,109
of which Leasing and similar rights: +€53,051
- Cash +€40,369
up €40,369 (+33.5%), from €120,549 to €160,918
mainly Net result for the year (+€46,294) and Debts after one year (+€31,000)
- Stocks and contracts +€12,023
up €12,023 (+9.6%), from €125,361 to €137,384
Equity and liabilities
- Profit (loss) carried forward +€39,220
up €39,220 (+55.9%), from €70,154 to €109,375
- Debts after one year +€31,000
up €31,000 (+534%), from €5,808 to €36,809
- Other debts +€11,299
up €11,299 (+57.2%), from €19,757 to €31,056
- Current portion of long-term debt +€9,444
up €9,444 (+185%), from €5,096 to €14,540
- Trade debts +€8,705
up €8,705 (+14.5%), from €60,138 to €68,843
Income statement
- Gross operating margin +€24,515
up €24,515 (+23.5%), from €104,540 to €129,055
- Staff costs +€14,934
up €14,934 (+41.0%), from €36,435 to €51,369
- Write-downs -€14,437
down €14,437 (-96.2%), from €15,009 to €573
- Depreciation +€3,358
up €3,358 (+106%), from €3,182 to €6,541
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.
Result 2024
€27,077
Gross operating margin
+€24,515
Staff costs
-€14,934
Depreciation
-€3,358
Write-downs
+€14,437
Other operating charges
+€135
Financial income
+€76
Financial charges
+€1,126
Taxes
-€421
Deferred taxes and other
-€2,358
Result 2025
€46,294
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€59,150
Investment
-€57,730
Financing
+€38,948
Cash 2024
€120,549
From operations (derived)
+€59,150
Net result for the year
+€46,294
Depreciation
+€6,541
Stocks and contracts
-€12,023
Receivables within one year
-€1,495
Deferred charges and accrued income
-€3,881
Provisions
+€2,358
Trade debts
+€8,705
Tax, wage and social debts
+€912
Other debts
+€11,299
Accrued charges and deferred income
+€441
Investment (derived)
-€57,730
Investment in fixed assets (net)
-€57,730
Financing
+€38,948
Debts after one year
+€31,000
Current portion of long-term debt
+€9,444
Short-term financial debts
-€1,497
Cash 2025
€160,918
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €349,669 | €458,626 | +€108,957 | +31.2% |
| Fixed assets | 21/28 | €18,095 | €69,284 | +€51,189 | +283% |
| Tangible fixed assets | 22/27 | €15,920 | €67,109 | +€51,189 | +322% |
| Plant, machinery and equipment | 23 | €1,436 | €231 | -€1,206 | -83.9% |
| Furniture and vehicles | 24 | - | €1,144 | +€1,144 | |
| Leasing and similar rights | 25 | - | €53,051 | +€53,051 | |
| Other tangible fixed assets | 26 | €14,483 | €12,683 | -€1,800 | -12.4% |
| Financial fixed assets | 28 | €2,175 | €2,175 | = | 0.0% |
| Current assets | 29/58 | €331,574 | €389,342 | +€57,768 | +17.4% |
| Stocks and contracts in progress | 3 | €125,361 | €137,384 | +€12,023 | +9.6% |
| Stocks | 30/36 | €125,361 | €137,384 | +€12,023 | +9.6% |
| Amounts receivable within one year | 40/41 | €83,281 | €84,776 | +€1,495 | +1.8% |
| Trade receivables | 40 | €1,559 | €1,910 | +€351 | +22.5% |
| Other amounts receivable | 41 | €81,721 | €82,866 | +€1,145 | +1.4% |
| Cash at bank and in hand | 54/58 | €120,549 | €160,918 | +€40,369 | +33.5% |
| Deferred charges and accrued income | 490/1 | €2,383 | €6,264 | +€3,881 | +163% |
| Total equity and liabilities | 10/49 | €349,669 | €458,626 | +€108,957 | +31.2% |
| Equity | 10/15 | €92,712 | €139,007 | +€46,294 | +49.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €3,966 | €11,040 | +€7,074 | +178% |
| Tax-exempt reserves | 132 | €2,107 | €9,181 | +€7,074 | +336% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €70,154 | €109,375 | +€39,220 | +55.9% |
| Provisions and deferred taxes | 16 | - | €2,358 | +€2,358 | |
| Deferred taxes | 168 | - | €2,358 | +€2,358 | |
| Amounts payable | 17/49 | €256,957 | €317,261 | +€60,304 | +23.5% |
| Amounts payable after more than one year | 17 | €5,808 | €36,809 | +€31,000 | +534% |
| Financial debts | 170/4 | €5,808 | €36,809 | +€31,000 | +534% |
| Amounts payable within one year | 42/48 | €249,262 | €278,125 | +€28,863 | +11.6% |
| Current portion of amounts payable after more than one year | 42 | €5,096 | €14,540 | +€9,444 | +185% |
| Financial debts | 43 | €130,015 | €128,518 | -€1,497 | -1.2% |
| Credit institutions | 430/8 | €125,000 | €125,000 | = | 0.0% |
| Other loans | 439 | €5,015 | €3,518 | -€1,497 | -29.8% |
| Trade debts | 44 | €60,138 | €68,843 | +€8,705 | +14.5% |
| Suppliers | 440/4 | €60,138 | €68,843 | +€8,705 | +14.5% |
| Taxes, remuneration and social security | 45 | €34,256 | €35,168 | +€912 | +2.7% |
| Taxes | 450/3 | €31,911 | €31,747 | -€164 | -0.5% |
| Remuneration and social security | 454/9 | €2,346 | €3,422 | +€1,076 | +45.9% |
| Other amounts payable | 47/48 | €19,757 | €31,056 | +€11,299 | +57.2% |
| Accrued charges and deferred income | 492/3 | €1,886 | €2,327 | +€441 | +23.4% |
| Remuneration, social security and pensions | 62 | €36,435 | €51,369 | +€14,934 | +41.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,182 | €6,541 | +€3,358 | +106% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €15,009 | €573 | -€14,437 | -96.2% |
| Other operating charges | 640/8 | €1,616 | €1,481 | -€135 | -8.3% |
| Gross operating margin | 9900 | €104,540 | €129,055 | +€24,515 | +23.5% |
| Operating profit (loss) | 9901 | €48,297 | €69,091 | +€20,794 | +43.1% |
| Financial income | 75/76B | €1,208 | €1,284 | +€76 | +6.3% |
| Recurring financial income | 75 | €1,208 | €1,284 | +€76 | +6.3% |
| Financial charges | 65/66B | €10,445 | €9,320 | -€1,126 | -10.8% |
| Recurring financial charges | 65 | €10,445 | €9,320 | -€1,126 | -10.8% |
| Profit (loss) for the period before taxes | 9903 | €39,060 | €61,055 | +€21,996 | +56.3% |
| Transfer from deferred taxes | 780 | - | €142 | +€142 | |
| Transfer to deferred taxes | 680 | - | €2,500 | +€2,500 | |
| Income taxes | 67/77 | €11,982 | €12,403 | +€421 | +3.5% |
| Profit (loss) for the period | 9904 | €27,077 | €46,294 | +€19,217 | +71.0% |
| Transfer from tax-exempt reserves | 789 | - | €426 | +€426 | |
| Transfer to tax-exempt reserves | 689 | - | €7,500 | +€7,500 | |
| Profit (loss) for the period to be appropriated | 9905 | €27,077 | €39,220 | +€12,143 | +44.8% |
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 26 October 2026 via checked.be.