ERM CONSULT: 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.
ERM CONSULT
Largest movements
- Cash -€30,916
down €30,916 (-36.2%), from €85,465 to €54,549
mainly Contributions, distributions and other (-€101,425) and Tax, wage and social debts (-€6,416)
- Tangible fixed assets -€9,753
down €9,753 (-24.7%), from €39,507 to €29,754
of which Furniture and vehicles: -€9,640
- Receivables within one year +€2,155
up €2,155 (+12.1%), from €17,852 to €20,007
of which Other amounts receivable: +€1,950
- Reserves -€44,425
no longer reported in 2025 (was €44,425)
- Other debts +€12,793
up €12,793 (+14.1%), from €90,928 to €103,722
- Tax, wage and social debts -€6,416
down €6,416 (-71.2%), from €9,008 to €2,593
of which Taxes: -€4,016
- Gross operating margin +€12,692
up €12,692 (+16.9%), from €74,952 to €87,644
- Depreciation +€2,411
up €2,411 (+21.9%), from €11,008 to €13,419
- Taxes +€2,289
up €2,289 (+16.6%), from €13,761 to €16,050
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.
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 | €146,358 | €107,911 | -€38,447 | -26.3% |
| Fixed assets | 21/28 | €39,507 | €29,754 | -€9,753 | -24.7% |
| Tangible fixed assets | 22/27 | €39,507 | €29,754 | -€9,753 | -24.7% |
| Furniture and vehicles | 24 | €38,816 | €29,175 | -€9,640 | -24.8% |
| Other tangible fixed assets | 26 | €692 | €579 | -€113 | -16.3% |
| Current assets | 29/58 | €106,851 | €78,157 | -€28,695 | -26.9% |
| Amounts receivable within one year | 40/41 | €17,852 | €20,007 | +€2,155 | +12.1% |
| Trade receivables | 40 | €13,613 | €13,817 | +€205 | +1.5% |
| Other amounts receivable | 41 | €4,239 | €6,189 | +€1,950 | +46.0% |
| Cash at bank and in hand | 54/58 | €85,465 | €54,549 | -€30,916 | -36.2% |
| Deferred charges and accrued income | 490/1 | €3,535 | €3,601 | +€66 | +1.9% |
| Total equity and liabilities | 10/49 | €146,358 | €107,911 | -€38,447 | -26.3% |
| Equity | 10/15 | €44,481 | €680 | -€43,801 | -98.5% |
| Contributions | 10/11 | €10 | €10 | = | 0.0% |
| Outside capital | 11 | €10 | €10 | = | 0.0% |
| Other | 1109/19 | €10 | €10 | = | 0.0% |
| Reserves | 13 | €44,425 | - | -€44,425 | |
| Distributable reserves | 133 | €44,425 | - | -€44,425 | |
| Profit (loss) carried forward | 14 | €46 | €670 | +€624 | +1351.5% |
| Amounts payable | 17/49 | €101,877 | €107,231 | +€5,354 | +5.3% |
| Amounts payable within one year | 42/48 | €101,877 | €107,231 | +€5,354 | +5.3% |
| Trade debts | 44 | €1,941 | €917 | -€1,024 | -52.8% |
| Suppliers | 440/4 | €1,941 | €917 | -€1,024 | -52.8% |
| Taxes, remuneration and social security | 45 | €9,008 | €2,593 | -€6,416 | -71.2% |
| Taxes | 450/3 | €6,608 | €2,593 | -€4,016 | -60.8% |
| Remuneration and social security | 454/9 | €2,400 | - | -€2,400 | |
| Other amounts payable | 47/48 | €90,928 | €103,722 | +€12,793 | +14.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,008 | €13,419 | +€2,411 | +21.9% |
| Other operating charges | 640/8 | €537 | €400 | -€138 | -25.6% |
| Gross operating margin | 9900 | €74,952 | €87,644 | +€12,692 | +16.9% |
| Operating profit (loss) | 9901 | €63,406 | €73,825 | +€10,419 | +16.4% |
| Financial income | 75/76B | €1 | €0 | -€1 | -98.4% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -98.4% |
| Financial charges | 65/66B | €408 | €152 | -€256 | -62.7% |
| Recurring financial charges | 65 | €408 | €152 | -€256 | -62.7% |
| Profit (loss) for the period before taxes | 9903 | €62,999 | €73,673 | +€10,674 | +16.9% |
| Income taxes | 67/77 | €13,761 | €16,050 | +€2,289 | +16.6% |
| Profit (loss) for the period | 9904 | €49,238 | €57,624 | +€8,386 | +17.0% |
| Profit (loss) for the period to be appropriated | 9905 | €49,238 | €57,624 | +€8,386 | +17.0% |
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 7 October 2026 via checked.be.