ERINE: 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.
ERINE
Largest movements
- Tangible fixed assets +€159,012
up €159,012 (+50.4%), from €315,609 to €474,621
of which Land and buildings: +€153,893
- Receivables within one year -€18,000
no longer reported in 2025 (was €18,000)
- Other debts +€197,507
up €197,507 (+116.3%), from €169,757 to €367,264
- Profit (loss) carried forward -€29,794
down €29,794 (-56.8%), from -€52,481 to -€82,275
- Debts after one year -€20,113
down €20,113 (-17.1%), from €117,776 to €97,663
- Reserves -€5,243
down €5,243 (-10.9%), from €48,019 to €42,776
- Other operating charges +€22,607
up €22,607 (+672.0%), from €3,364 to €25,971
- Gross operating margin -€8,135
down €8,135 (-28.8%), from €28,270 to €20,135
- Depreciation +€4,540
up €4,540 (+18.4%), from €24,646 to €29,186
- Financial charges -€427
down €427 (-13.6%), from €3,140 to €2,713
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 | €347,174 | €486,831 | +€139,657 | +40.2% |
| Fixed assets | 21/28 | €315,609 | €474,621 | +€159,012 | +50.4% |
| Tangible fixed assets | 22/27 | €315,609 | €474,621 | +€159,012 | +50.4% |
| Land and buildings | 22 | €298,692 | €452,585 | +€153,893 | +51.5% |
| Plant, machinery and equipment | 23 | €16,917 | €22,036 | +€5,119 | +30.3% |
| Current assets | 29/58 | €31,565 | €12,210 | -€19,355 | -61.3% |
| Amounts receivable within one year | 40/41 | €18,000 | - | -€18,000 | |
| Trade receivables | 40 | €18,000 | - | -€18,000 | |
| Cash at bank and in hand | 54/58 | €11,715 | €10,939 | -€776 | -6.6% |
| Deferred charges and accrued income | 490/1 | €1,850 | €1,271 | -€579 | -31.3% |
| Total equity and liabilities | 10/49 | €347,174 | €486,831 | +€139,657 | +40.2% |
| Equity | 10/15 | €14,802 | -€20,235 | -€35,037 | |
| Contributions | 10/11 | €19,264 | €19,264 | = | 0.0% |
| Reserves | 13 | €48,019 | €42,776 | -€5,243 | -10.9% |
| Tax-exempt reserves | 132 | €48,019 | €42,776 | -€5,243 | -10.9% |
| Profit (loss) carried forward | 14 | -€52,481 | -€82,275 | -€29,794 | -56.8% |
| Provisions and deferred taxes | 16 | €24,726 | €22,026 | -€2,700 | -10.9% |
| Deferred taxes | 168 | €24,726 | €22,026 | -€2,700 | -10.9% |
| Amounts payable | 17/49 | €307,646 | €485,040 | +€177,394 | +57.7% |
| Amounts payable after more than one year | 17 | €117,776 | €97,663 | -€20,113 | -17.1% |
| Financial debts | 170/4 | €117,776 | €97,663 | -€20,113 | -17.1% |
| Amounts payable within one year | 42/48 | €189,870 | €387,377 | +€197,507 | +104.0% |
| Current portion of amounts payable after more than one year | 42 | €20,113 | €20,113 | = | 0.0% |
| Other amounts payable | 47/48 | €169,757 | €367,264 | +€197,507 | +116.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,646 | €29,186 | +€4,540 | +18.4% |
| Other operating charges | 640/8 | €3,364 | €25,971 | +€22,607 | +672.0% |
| Gross operating margin | 9900 | €28,270 | €20,135 | -€8,135 | -28.8% |
| Operating profit (loss) | 9901 | €260 | -€35,022 | -€35,282 | |
| Financial charges | 65/66B | €3,140 | €2,713 | -€427 | -13.6% |
| Recurring financial charges | 65 | €3,140 | €2,713 | -€427 | -13.6% |
| Profit (loss) for the period before taxes | 9903 | -€2,880 | -€37,735 | -€34,855 | -1210.2% |
| Transfer from deferred taxes | 780 | €2,699 | €2,699 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€181 | -€35,036 | -€34,855 | -19256.9% |
| Transfer from tax-exempt reserves | 789 | €5,242 | €5,242 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €5,061 | -€29,794 | -€34,855 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.