ERLIN: 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.
ERLIN
Largest movements
- Current investments +€300,000
up €300,000 (+41.8%), from €717,000 to €1.0m
- Stocks and contracts +€225,704
up €225,704 (+39.2%), from €575,156 to €800,860
- Tangible fixed assets -€179,184
down €179,184 (-25.3%), from €708,275 to €529,090
of which Furniture and vehicles: -€156,959
- Cash -€134,742
down €134,742 (-13.4%), from €1.0m to €868,483
mainly Current investments (-€300,000) and Stocks and contracts (-€225,704)
- Reserves +€246,215
up €246,215 (+6.1%), from €4.1m to €4.3m
of which Distributable reserves: +€246,215
- Trade debts -€85,885
down €85,885 (-25.7%), from €334,787 to €248,902
- Staff costs +€205,529
up €205,529 (+9.8%), from €2.1m to €2.3m
- Gross operating margin +€55,922
up €55,922 (+2.0%), from €2.8m to €2.9m
- Write-downs -€50,913
down €50,913, from €33,955 to -€16,959
- Other operating charges +€46,739
up €46,739 (+241.5%), from €19,356 to €66,095
- Taxes -€38,544
down €38,544 (-29.4%), from €130,954 to €92,411
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 | €4,637,822 | €4,833,236 | +€195,414 | +4.2% |
| Fixed assets | 21/28 | €721,745 | €551,620 | -€170,125 | -23.6% |
| Tangible fixed assets | 22/27 | €708,275 | €529,090 | -€179,184 | -25.3% |
| Plant, machinery and equipment | 23 | €114,650 | €109,808 | -€4,843 | -4.2% |
| Furniture and vehicles | 24 | €493,077 | €336,118 | -€156,959 | -31.8% |
| Other tangible fixed assets | 26 | €100,547 | €83,165 | -€17,383 | -17.3% |
| Financial fixed assets | 28 | €13,470 | €22,530 | +€9,059 | +67.3% |
| Current assets | 29/58 | €3,916,077 | €4,281,616 | +€365,539 | +9.3% |
| Stocks and contracts in progress | 3 | €575,156 | €800,860 | +€225,704 | +39.2% |
| Stocks | 30/36 | €575,156 | €800,860 | +€225,704 | +39.2% |
| Amounts receivable within one year | 40/41 | €1,554,013 | €1,541,619 | -€12,393 | -0.8% |
| Trade receivables | 40 | €1,230,224 | €1,390,741 | +€160,518 | +13.0% |
| Other amounts receivable | 41 | €323,789 | €150,878 | -€172,911 | -53.4% |
| Current investments | 50/53 | €717,000 | €1,017,000 | +€300,000 | +41.8% |
| Cash at bank and in hand | 54/58 | €1,003,225 | €868,483 | -€134,742 | -13.4% |
| Deferred charges and accrued income | 490/1 | €66,683 | €53,653 | -€13,030 | -19.5% |
| Total equity and liabilities | 10/49 | €4,637,822 | €4,833,236 | +€195,414 | +4.2% |
| Equity | 10/15 | €4,073,766 | €4,319,981 | +€246,215 | +6.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €4,055,174 | €4,301,389 | +€246,215 | +6.1% |
| Tax-exempt reserves | 132 | €70,250 | €70,250 | = | 0.0% |
| Distributable reserves | 133 | €3,984,924 | €4,231,139 | +€246,215 | +6.2% |
| Amounts payable | 17/49 | €564,056 | €513,255 | -€50,801 | -9.0% |
| Amounts payable within one year | 42/48 | €524,992 | €513,255 | -€11,737 | -2.2% |
| Trade debts | 44 | €334,787 | €248,902 | -€85,885 | -25.7% |
| Suppliers | 440/4 | €334,787 | €248,902 | -€85,885 | -25.7% |
| Taxes, remuneration and social security | 45 | €190,205 | €237,889 | +€47,684 | +25.1% |
| Taxes | 450/3 | €302 | - | -€302 | |
| Remuneration and social security | 454/9 | €189,903 | €237,889 | +€47,985 | +25.3% |
| Other amounts payable | 47/48 | - | €26,464 | +€26,464 | |
| Accrued charges and deferred income | 492/3 | €39,064 | - | -€39,064 | |
| Remuneration, social security and pensions | 62 | €2,106,581 | €2,312,110 | +€205,529 | +9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €204,913 | €227,333 | +€22,420 | +10.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €33,955 | -€16,959 | -€50,913 | |
| Other operating charges | 640/8 | €19,356 | €66,095 | +€46,739 | +241.5% |
| Non-recurring operating charges | 66A | €7,844 | - | -€7,844 | |
| Gross operating margin | 9900 | €2,845,455 | €2,901,377 | +€55,922 | +2.0% |
| Operating profit (loss) | 9901 | €472,806 | €312,798 | -€160,008 | -33.8% |
| Financial income | 75/76B | €63,680 | €59,688 | -€3,992 | -6.3% |
| Recurring financial income | 75 | €63,680 | €59,688 | -€3,992 | -6.3% |
| Financial charges | 65/66B | €5,842 | €8,660 | +€2,818 | +48.2% |
| Recurring financial charges | 65 | €5,842 | €8,660 | +€2,818 | +48.2% |
| Profit (loss) for the period before taxes | 9903 | €530,644 | €363,826 | -€166,818 | -31.4% |
| Income taxes | 67/77 | €130,954 | €92,411 | -€38,544 | -29.4% |
| Profit (loss) for the period | 9904 | €399,689 | €271,415 | -€128,274 | -32.1% |
| Profit (loss) for the period to be appropriated | 9905 | €399,689 | €271,415 | -€128,274 | -32.1% |
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 10 October 2026 via checked.be.