ERKA: 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.
ERKA
Largest movements
- Receivables within one year +€64,704
up €64,704 (+49.3%), from €131,260 to €195,964
of which Trade receivables: +€64,704
- Stocks and contracts +€23,897
up €23,897 (+10.7%), from €223,395 to €247,292
- Cash -€21,238
down €21,238 (-53.1%), from €39,976 to €18,738
mainly Receivables within one year (-€64,704) and Investment in fixed assets (net) (-€28,319)
- Tangible fixed assets +€13,237
up €13,237 (+30.3%), from €43,632 to €56,869
of which Plant, machinery and equipment: +€20,495
- Profit (loss) carried forward +€43,685
up €43,685 (+29.4%), from €148,494 to €192,179
- Trade debts +€18,985
up €18,985 (+17.7%), from €107,164 to €126,149
- Tax, wage and social debts +€10,690
up €10,690 (+42.1%), from €25,362 to €36,052
of which Remuneration and social security: +€8,157
- Other operating charges -€25,581
down €25,581 (-97.7%), from €26,193 to €612
- Gross operating margin +€16,975
up €16,975 (+8.7%), from €195,586 to €212,561
- Staff costs +€13,721
up €13,721 (+15.4%), from €89,141 to €102,862
- Write-downs +€11,458
no longer reported in 2025 (was -€11,458)
- Depreciation +€5,971
up €5,971 (+65.5%), from €9,111 to €15,082
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 | €440,021 | €520,720 | +€80,699 | +18.3% |
| Fixed assets | 21/28 | €43,632 | €56,869 | +€13,237 | +30.3% |
| Tangible fixed assets | 22/27 | €43,632 | €56,869 | +€13,237 | +30.3% |
| Plant, machinery and equipment | 23 | €1,305 | €21,800 | +€20,495 | +1570.5% |
| Furniture and vehicles | 24 | €42,327 | €35,069 | -€7,258 | -17.1% |
| Current assets | 29/58 | €396,389 | €463,851 | +€67,462 | +17.0% |
| Stocks and contracts in progress | 3 | €223,395 | €247,292 | +€23,897 | +10.7% |
| Stocks | 30/36 | €223,395 | €247,292 | +€23,897 | +10.7% |
| Amounts receivable within one year | 40/41 | €131,260 | €195,964 | +€64,704 | +49.3% |
| Trade receivables | 40 | €131,211 | €195,915 | +€64,704 | +49.3% |
| Other amounts receivable | 41 | €49 | €49 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €39,976 | €18,738 | -€21,238 | -53.1% |
| Deferred charges and accrued income | 490/1 | €1,758 | €1,857 | +€99 | +5.6% |
| Total equity and liabilities | 10/49 | €440,021 | €520,720 | +€80,699 | +18.3% |
| Equity | 10/15 | €215,094 | €258,779 | +€43,685 | +20.3% |
| Contributions | 10/11 | €26,000 | €26,000 | = | 0.0% |
| Reserves | 13 | €40,600 | €40,600 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,600 | €2,600 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,600 | €2,600 | = | 0.0% |
| Distributable reserves | 133 | €38,000 | €38,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €148,494 | €192,179 | +€43,685 | +29.4% |
| Amounts payable | 17/49 | €224,927 | €261,941 | +€37,014 | +16.5% |
| Amounts payable after more than one year | 17 | €16,273 | €21,271 | +€4,998 | +30.7% |
| Financial debts | 170/4 | €16,273 | €21,271 | +€4,998 | +30.7% |
| Amounts payable within one year | 42/48 | €208,654 | €240,670 | +€32,016 | +15.3% |
| Current portion of amounts payable after more than one year | 42 | €14,148 | €15,469 | +€1,321 | +9.3% |
| Trade debts | 44 | €107,164 | €126,149 | +€18,985 | +17.7% |
| Suppliers | 440/4 | €107,164 | €126,149 | +€18,985 | +17.7% |
| Advances received on contracts in progress | 46 | €3,980 | - | -€3,980 | |
| Taxes, remuneration and social security | 45 | €25,362 | €36,052 | +€10,690 | +42.1% |
| Taxes | 450/3 | €6,732 | €9,265 | +€2,533 | +37.6% |
| Remuneration and social security | 454/9 | €18,630 | €26,787 | +€8,157 | +43.8% |
| Other amounts payable | 47/48 | €58,000 | €63,000 | +€5,000 | +8.6% |
| Remuneration, social security and pensions | 62 | €89,141 | €102,862 | +€13,721 | +15.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,111 | €15,082 | +€5,971 | +65.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€11,458 | - | +€11,458 | |
| Other operating charges | 640/8 | €26,193 | €612 | -€25,581 | -97.7% |
| Gross operating margin | 9900 | €195,586 | €212,561 | +€16,975 | +8.7% |
| Operating profit (loss) | 9901 | €82,599 | €94,005 | +€11,406 | +13.8% |
| Financial income | 75/76B | €763 | €564 | -€199 | -26.1% |
| Recurring financial income | 75 | €763 | €564 | -€199 | -26.1% |
| Financial charges | 65/66B | €4,743 | €2,894 | -€1,849 | -39.0% |
| Recurring financial charges | 65 | €4,743 | €2,894 | -€1,849 | -39.0% |
| Profit (loss) for the period before taxes | 9903 | €78,619 | €91,675 | +€13,056 | +16.6% |
| Income taxes | 67/77 | €21,095 | €22,990 | +€1,895 | +9.0% |
| Profit (loss) for the period | 9904 | €57,524 | €68,685 | +€11,161 | +19.4% |
| Profit (loss) for the period to be appropriated | 9905 | €57,524 | €68,685 | +€11,161 | +19.4% |
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 3 October 2026 via checked.be.