ERKELENS LAW: 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.
ERKELENS LAW
Largest movements
- Receivables within one year -€40,838
down €40,838 (-22.3%), from €183,485 to €142,646
of which Other amounts receivable: -€41,729
- Cash +€31,077
up €31,077 (+6.8%), from €455,318 to €486,395
mainly Net result for the year (+€71,929) and Receivables within one year (+€40,838)
- Debts after one year -€100,780
down €100,780 (-100%), from €100,780 to €0
- Reserves +€71,929
up €71,929 (+13.3%), from €541,329 to €613,258
- Other debts +€20,313
up €20,313 (+22.3%), from €91,256 to €111,569
- Gross operating margin -€26,223
down €26,223 (-16.5%), from €159,241 to €133,018
- Taxes -€11,227
down €11,227 (-28.4%), from €39,468 to €28,241
- Write-downs +€7,652
up €7,652, from -€7,652 to €0
- Financial charges +€1,838
up €1,838 (+23.5%), from €7,812 to €9,650
- Financial income +€1,765
up €1,765 (+137%), from €1,285 to €3,050
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 | €806,688 | €791,025 | -€15,663 | -1.9% |
| Fixed assets | 21/28 | €167,535 | €159,770 | -€7,765 | -4.6% |
| Tangible fixed assets | 22/27 | €167,535 | €159,770 | -€7,765 | -4.6% |
| Land and buildings | 22 | €166,359 | €159,752 | -€6,607 | -4.0% |
| Plant, machinery and equipment | 23 | €790 | €0 | -€790 | -100% |
| Furniture and vehicles | 24 | €386 | €18 | -€368 | -95.3% |
| Current assets | 29/58 | €639,153 | €631,255 | -€7,898 | -1.2% |
| Amounts receivable within one year | 40/41 | €183,485 | €142,646 | -€40,838 | -22.3% |
| Trade receivables | 40 | €117,471 | €118,362 | +€891 | +0.8% |
| Other amounts receivable | 41 | €66,013 | €24,284 | -€41,729 | -63.2% |
| Cash at bank and in hand | 54/58 | €455,318 | €486,395 | +€31,077 | +6.8% |
| Deferred charges and accrued income | 490/1 | €350 | €2,213 | +€1,863 | +532% |
| Total equity and liabilities | 10/49 | €806,688 | €791,025 | -€15,663 | -1.9% |
| Equity | 10/15 | €559,929 | €631,858 | +€71,929 | +12.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €541,329 | €613,258 | +€71,929 | +13.3% |
| Distributable reserves | 133 | €541,329 | €613,258 | +€71,929 | +13.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €246,759 | €159,167 | -€87,593 | -35.5% |
| Amounts payable after more than one year | 17 | €100,780 | €0 | -€100,780 | -100% |
| Financial debts | 170/4 | €100,780 | €0 | -€100,780 | -100% |
| Amounts payable within one year | 42/48 | €138,600 | €151,443 | +€12,842 | +9.3% |
| Trade debts | 44 | €23,760 | €22,464 | -€1,296 | -5.5% |
| Suppliers | 440/4 | €23,760 | €22,464 | -€1,296 | -5.5% |
| Advances received on contracts in progress | 46 | €1,576 | €1,576 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €22,008 | €15,833 | -€6,175 | -28.1% |
| Taxes | 450/3 | €17,621 | €12,053 | -€5,568 | -31.6% |
| Remuneration and social security | 454/9 | €4,387 | €3,780 | -€607 | -13.8% |
| Other amounts payable | 47/48 | €91,256 | €111,569 | +€20,313 | +22.3% |
| Accrued charges and deferred income | 492/3 | €7,379 | €7,724 | +€345 | +4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,906 | €22,489 | +€583 | +2.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€7,652 | €0 | +€7,652 | |
| Other operating charges | 640/8 | €3,888 | €3,758 | -€129 | -3.3% |
| Gross operating margin | 9900 | €159,241 | €133,018 | -€26,223 | -16.5% |
| Operating profit (loss) | 9901 | €141,100 | €106,771 | -€34,329 | -24.3% |
| Financial income | 75/76B | €1,285 | €3,050 | +€1,765 | +137% |
| Recurring financial income | 75 | €1,285 | €3,050 | +€1,765 | +137% |
| Financial charges | 65/66B | €7,812 | €9,650 | +€1,838 | +23.5% |
| Recurring financial charges | 65 | €7,812 | €9,650 | +€1,838 | +23.5% |
| Profit (loss) for the period before taxes | 9903 | €134,573 | €100,171 | -€34,402 | -25.6% |
| Income taxes | 67/77 | €39,468 | €28,241 | -€11,227 | -28.4% |
| Profit (loss) for the period | 9904 | €95,105 | €71,929 | -€23,176 | -24.4% |
| Profit (loss) for the period to be appropriated | 9905 | €95,105 | €71,929 | -€23,176 | -24.4% |
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 17 October 2026 via checked.be.