ERMALY: 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.
ERMALY
Largest movements
- Tangible fixed assets -€8,358
down €8,358 (-3.8%), from €221,788 to €213,430
- Other debts -€4,747
down €4,747 (-9.6%), from €49,445 to €44,698
- Debts after one year -€3,553
down €3,553 (-19.6%), from €18,091 to €14,538
- Profit (loss) carried forward +€3,531
up €3,531 (+5.7%), from -€62,428 to -€58,897
- Reserves -€2,866
down €2,866 (-3.4%), from €84,069 to €81,203
- Other operating charges +€866
up €866 (+35.6%), from €2,434 to €3,301
- Financial charges -€422
down €422 (-38.6%), from €1,093 to €671
- Gross operating margin -€194
down €194 (-1.6%), from €12,232 to €12,038
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 | €222,285 | €213,913 | -€8,372 | -3.8% |
| Fixed assets | 21/28 | €221,788 | €213,430 | -€8,358 | -3.8% |
| Tangible fixed assets | 22/27 | €221,788 | €213,430 | -€8,358 | -3.8% |
| Land and buildings | 22 | €221,788 | €213,430 | -€8,358 | -3.8% |
| Current assets | 29/58 | €497 | €483 | -€14 | -2.9% |
| Cash at bank and in hand | 54/58 | €497 | €483 | -€14 | -2.9% |
| Total equity and liabilities | 10/49 | €222,285 | €213,913 | -€8,372 | -3.8% |
| Equity | 10/15 | €123,273 | €123,938 | +€665 | +0.5% |
| Contributions | 10/11 | €101,632 | €101,632 | = | 0.0% |
| Reserves | 13 | €84,069 | €81,203 | -€2,866 | -3.4% |
| Tax-exempt reserves | 132 | €84,069 | €81,203 | -€2,866 | -3.4% |
| Profit (loss) carried forward | 14 | -€62,428 | -€58,897 | +€3,531 | +5.7% |
| Provisions and deferred taxes | 16 | €28,018 | €27,062 | -€957 | -3.4% |
| Deferred taxes | 168 | €28,018 | €27,062 | -€957 | -3.4% |
| Amounts payable | 17/49 | €70,994 | €62,913 | -€8,081 | -11.4% |
| Amounts payable after more than one year | 17 | €18,091 | €14,538 | -€3,553 | -19.6% |
| Financial debts | 170/4 | €18,091 | €14,538 | -€3,553 | -19.6% |
| Amounts payable within one year | 42/48 | €52,903 | €48,375 | -€4,528 | -8.6% |
| Current portion of amounts payable after more than one year | 42 | €3,459 | €3,553 | +€94 | +2.7% |
| Trade debts | 44 | - | €125 | +€125 | |
| Suppliers | 440/4 | - | €125 | +€125 | |
| Other amounts payable | 47/48 | €49,445 | €44,698 | -€4,747 | -9.6% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,358 | €8,358 | = | 0.0% |
| Other operating charges | 640/8 | €2,434 | €3,301 | +€866 | +35.6% |
| Gross operating margin | 9900 | €12,232 | €12,038 | -€194 | -1.6% |
| Operating profit (loss) | 9901 | €1,440 | €379 | -€1,061 | -73.7% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €1,093 | €671 | -€422 | -38.6% |
| Recurring financial charges | 65 | €1,093 | €671 | -€422 | -38.6% |
| Profit (loss) for the period before taxes | 9903 | €347 | -€291 | -€638 | |
| Transfer from deferred taxes | 780 | €957 | €957 | = | 0.0% |
| Profit (loss) for the period | 9904 | €1,304 | €665 | -€638 | -49.0% |
| Transfer from tax-exempt reserves | 789 | €2,866 | €2,866 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €4,170 | €3,531 | -€638 | -15.3% |
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 29 September 2026 via checked.be.