ERKOS: what changed
ERKOS
Largest movements
- Stocks and contracts -€172,802
down €172,802 (-19.5%), from €887,567 to €714,765
- Receivables within one year +€151,338
up €151,338 (+40.5%), from €373,864 to €525,202
of which Trade receivables: +€151,332
- Cash +€131,586
up €131,586 (+40.2%), from €327,585 to €459,172
mainly Stocks and contracts (+€172,802) and Trade debts (+€71,058)
- Receivables after one year +€22,277
up €22,277 (+20.4%), from €109,223 to €131,500
- Trade debts +€71,058
up €71,058 (+12.3%), from €575,979 to €647,037
- Profit (loss) carried forward +€57,680
up €57,680 (+11.7%), from €493,253 to €550,933
- Tax, wage and social debts +€23,710
up €23,710 (+72.5%), from €32,689 to €56,399
of which Remuneration and social security: +€17,426
- Gross operating margin -€579,356
down €579,356 (-73.9%), from €783,868 to €204,512
- Financial charges +€39,079
up €39,079 (+27.2%), from €143,472 to €182,551
- Taxes -€24,573
down €24,573 (-82.0%), from €29,966 to €5,393
- Staff costs +€16,285
up €16,285 (+20.9%), from €77,821 to €94,105
- Financial income +€8,027
up €8,027 (+6.3%), from €127,723 to €135,750
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,699,184 | €1,835,597 | +€136,413 | +8.0% |
| Fixed assets | 21/28 | €944 | €531 | -€413 | -43.7% |
| Tangible fixed assets | 22/27 | €944 | €531 | -€413 | -43.7% |
| Furniture and vehicles | 24 | €944 | €531 | -€413 | -43.7% |
| Current assets | 29/58 | €1,698,240 | €1,835,066 | +€136,826 | +8.1% |
| Amounts receivable after more than one year | 29 | €109,223 | €131,500 | +€22,277 | +20.4% |
| Other amounts receivable | 291 | €109,223 | €131,500 | +€22,277 | +20.4% |
| Stocks and contracts in progress | 3 | €887,567 | €714,765 | -€172,802 | -19.5% |
| Stocks | 30/36 | €887,567 | €714,765 | -€172,802 | -19.5% |
| Amounts receivable within one year | 40/41 | €373,864 | €525,202 | +€151,338 | +40.5% |
| Trade receivables | 40 | €313,745 | €465,077 | +€151,332 | +48.2% |
| Other amounts receivable | 41 | €60,119 | €60,125 | +€6 | 0.0% |
| Cash at bank and in hand | 54/58 | €327,585 | €459,172 | +€131,586 | +40.2% |
| Deferred charges and accrued income | 490/1 | - | €4,427 | +€4,427 | |
| Total equity and liabilities | 10/49 | €1,699,184 | €1,835,597 | +€136,413 | +8.0% |
| Equity | 10/15 | €1,073,549 | €1,116,290 | +€42,741 | +4.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €561,696 | €546,757 | -€14,939 | -2.7% |
| Distributable reserves | 133 | €561,696 | €546,757 | -€14,939 | -2.7% |
| Profit (loss) carried forward | 14 | €493,253 | €550,933 | +€57,680 | +11.7% |
| Amounts payable | 17/49 | €625,635 | €719,307 | +€93,672 | +15.0% |
| Amounts payable within one year | 42/48 | €625,635 | €717,493 | +€91,858 | +14.7% |
| Trade debts | 44 | €575,979 | €647,037 | +€71,058 | +12.3% |
| Suppliers | 440/4 | €575,979 | €647,037 | +€71,058 | +12.3% |
| Taxes, remuneration and social security | 45 | €32,689 | €56,399 | +€23,710 | +72.5% |
| Taxes | 450/3 | €30,046 | €36,330 | +€6,284 | +20.9% |
| Remuneration and social security | 454/9 | €2,643 | €20,069 | +€17,426 | +659% |
| Other amounts payable | 47/48 | €16,968 | €14,058 | -€2,910 | -17.2% |
| Accrued charges and deferred income | 492/3 | - | €1,814 | +€1,814 | |
| Remuneration, social security and pensions | 62 | €77,821 | €94,105 | +€16,285 | +20.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €294 | €413 | +€118 | +40.2% |
| Other operating charges | 640/8 | €118 | €120 | +€2 | +1.7% |
| Gross operating margin | 9900 | €783,868 | €204,512 | -€579,356 | -73.9% |
| Operating profit (loss) | 9901 | €705,635 | €109,874 | -€595,761 | -84.4% |
| Financial income | 75/76B | €127,723 | €135,750 | +€8,027 | +6.3% |
| Recurring financial income | 75 | €127,723 | €135,750 | +€8,027 | +6.3% |
| Financial charges | 65/66B | €143,472 | €182,551 | +€39,079 | +27.2% |
| Recurring financial charges | 65 | €143,472 | €182,551 | +€39,079 | +27.2% |
| Profit (loss) for the period before taxes | 9903 | €689,886 | €63,073 | -€626,813 | -90.9% |
| Income taxes | 67/77 | €29,966 | €5,393 | -€24,573 | -82.0% |
| Profit (loss) for the period | 9904 | €659,920 | €57,680 | -€602,240 | -91.3% |
| Profit (loss) for the period to be appropriated | 9905 | €659,920 | €57,680 | -€602,240 | -91.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.