ERISMA: 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.
ERISMA
Largest movements
- Receivables within one year -€59,285
down €59,285 (-23.8%), from €248,658 to €189,373
of which Trade receivables: -€62,190
- Cash -€44,409
down €44,409 (-9.7%), from €457,973 to €413,564
mainly Trade debts (-€90,216) and Accrued charges and deferred income (-€34,372)
- Current investments +€24,000
new in 2025: €24,000
- Trade debts -€90,216
down €90,216 (-31.0%), from €291,006 to €200,790
- Accrued charges and deferred income -€34,372
down €34,372 (-21.2%), from €161,900 to €127,528
- Reserves +€24,000
up €24,000 (+36.4%), from €65,930 to €89,930
of which Non-distributable reserves: +€24,000
- Profit (loss) carried forward +€23,230
up €23,230 (+15.8%), from €146,585 to €169,814
- Gross operating margin -€88,358
down €88,358 (-58.0%), from €152,335 to €63,977
- Write-downs -€66,945
no longer reported in 2025 (was €66,945)
- Financial income +€3,097
up €3,097 (+255%), from €1,216 to €4,313
- Taxes +€3,043
up €3,043 (+20.6%), from €14,770 to €17,813
- Depreciation +€1,535
up €1,535 (+131%), from €1,169 to €2,704
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 | €711,671 | €632,127 | -€79,544 | -11.2% |
| Fixed assets | 21/28 | €3,901 | €3,684 | -€216 | -5.5% |
| Tangible fixed assets | 22/27 | €3,651 | €3,434 | -€216 | -5.9% |
| Furniture and vehicles | 24 | €3,651 | €3,434 | -€216 | -5.9% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €707,770 | €628,442 | -€79,328 | -11.2% |
| Amounts receivable within one year | 40/41 | €248,658 | €189,373 | -€59,285 | -23.8% |
| Trade receivables | 40 | €233,060 | €170,870 | -€62,190 | -26.7% |
| Other amounts receivable | 41 | €15,598 | €18,503 | +€2,905 | +18.6% |
| Current investments | 50/53 | - | €24,000 | +€24,000 | |
| Cash at bank and in hand | 54/58 | €457,973 | €413,564 | -€44,409 | -9.7% |
| Deferred charges and accrued income | 490/1 | €1,139 | €1,505 | +€366 | +32.1% |
| Total equity and liabilities | 10/49 | €711,671 | €632,127 | -€79,544 | -11.2% |
| Equity | 10/15 | €226,115 | €274,745 | +€48,630 | +21.5% |
| Contributions | 10/11 | €13,600 | €15,000 | +€1,400 | +10.3% |
| Reserves | 13 | €65,930 | €89,930 | +€24,000 | +36.4% |
| Non-distributable reserves | 130/1 | - | €24,000 | +€24,000 | |
| Own shares acquired | 1312 | - | €24,000 | +€24,000 | |
| Distributable reserves | 133 | €65,930 | €65,930 | = | 0.0% |
| Profit (loss) carried forward | 14 | €146,585 | €169,814 | +€23,230 | +15.8% |
| Amounts payable | 17/49 | €485,555 | €357,382 | -€128,173 | -26.4% |
| Amounts payable within one year | 42/48 | €323,655 | €229,854 | -€93,802 | -29.0% |
| Financial debts | 43 | €5,881 | €3,412 | -€2,469 | -42.0% |
| Credit institutions | 430/8 | €5,881 | €3,412 | -€2,469 | -42.0% |
| Trade debts | 44 | €291,006 | €200,790 | -€90,216 | -31.0% |
| Suppliers | 440/4 | €291,006 | €200,790 | -€90,216 | -31.0% |
| Taxes, remuneration and social security | 45 | €15,164 | €15,164 | = | 0.0% |
| Taxes | 450/3 | €15,164 | €15,164 | = | 0.0% |
| Other amounts payable | 47/48 | €11,604 | €10,488 | -€1,116 | -9.6% |
| Accrued charges and deferred income | 492/3 | €161,900 | €127,528 | -€34,372 | -21.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,169 | €2,704 | +€1,535 | +131% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €66,945 | - | -€66,945 | |
| Other operating charges | 640/8 | €735 | €400 | -€335 | -45.6% |
| Non-recurring operating charges | 66A | €16,141 | - | -€16,141 | |
| Gross operating margin | 9900 | €152,335 | €63,977 | -€88,358 | -58.0% |
| Operating profit (loss) | 9901 | €67,346 | €60,873 | -€6,472 | -9.6% |
| Financial income | 75/76B | €1,216 | €4,313 | +€3,097 | +255% |
| Recurring financial income | 75 | €1,216 | €4,313 | +€3,097 | +255% |
| Financial charges | 65/66B | €128 | €144 | +€16 | +12.5% |
| Recurring financial charges | 65 | €128 | €144 | +€16 | +12.5% |
| Profit (loss) for the period before taxes | 9903 | €68,434 | €65,043 | -€3,391 | -5.0% |
| Income taxes | 67/77 | €14,770 | €17,813 | +€3,043 | +20.6% |
| Profit (loss) for the period | 9904 | €53,663 | €47,230 | -€6,434 | -12.0% |
| Profit (loss) for the period to be appropriated | 9905 | €53,663 | €47,230 | -€6,434 | -12.0% |
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 15 October 2026 via checked.be.