ERMAROCO: 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.
ERMAROCO
Largest movements
- Cash -€33,694
down €33,694 (-14.6%), from €230,063 to €196,368
mainly Other debts (-€129,843) and Contributions, distributions and other (-€21,967)
- Tangible fixed assets -€17,961
down €17,961 (-36.5%), from €49,153 to €31,192
- Receivables within one year +€13,610
up €13,610 (+443%), from €3,073 to €16,683
of which Other amounts receivable: +€10,461
- Other debts -€129,843
down €129,843 (-86.6%), from €150,016 to €20,173
- Reserves +€95,247
up €95,247 (+64.4%), from €147,856 to €243,103
of which Distributable reserves: +€95,247
- Gross operating margin +€11,201
up €11,201 (+98.0%), from €11,429 to €22,630
- Financial income +€4,353
up €4,353 (+3.3%), from €130,393 to €134,746
- Taxes +€1,870
up €1,870 (+16.9%), from €11,071 to €12,941
- Depreciation +€1,678
up €1,678 (+7.9%), from €21,330 to €23,009
- Other operating charges +€1,150
up €1,150 (+62.1%), from €1,853 to €3,004
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 | €1,262,499 | €1,226,639 | -€35,860 | -2.8% |
| Fixed assets | 21/28 | €1,016,840 | €998,879 | -€17,961 | -1.8% |
| Tangible fixed assets | 22/27 | €49,153 | €31,192 | -€17,961 | -36.5% |
| Furniture and vehicles | 24 | €49,153 | €31,192 | -€17,961 | -36.5% |
| Financial fixed assets | 28 | €967,688 | €967,688 | = | 0.0% |
| Current assets | 29/58 | €245,659 | €227,759 | -€17,900 | -7.3% |
| Amounts receivable within one year | 40/41 | €3,073 | €16,683 | +€13,610 | +443% |
| Trade receivables | 40 | €583 | €3,731 | +€3,149 | +541% |
| Other amounts receivable | 41 | €2,491 | €12,952 | +€10,461 | +420% |
| Cash at bank and in hand | 54/58 | €230,063 | €196,368 | -€33,694 | -14.6% |
| Deferred charges and accrued income | 490/1 | €12,523 | €14,708 | +€2,185 | +17.4% |
| Total equity and liabilities | 10/49 | €1,262,499 | €1,226,639 | -€35,860 | -2.8% |
| Equity | 10/15 | €1,061,675 | €1,156,922 | +€95,247 | +9.0% |
| Contributions | 10/11 | €502,350 | €502,350 | = | 0.0% |
| Reserves | 13 | €147,856 | €243,103 | +€95,247 | +64.4% |
| Non-distributable reserves | 130/1 | €13,641 | €13,641 | = | 0.0% |
| Reserves not available under the articles | 1311 | €13,641 | €13,641 | = | 0.0% |
| Distributable reserves | 133 | €134,215 | €229,462 | +€95,247 | +71.0% |
| Profit (loss) carried forward | 14 | €411,470 | €411,470 | +€0 | 0.0% |
| Amounts payable | 17/49 | €200,824 | €69,716 | -€131,107 | -65.3% |
| Amounts payable after more than one year | 17 | €15,794 | €11,427 | -€4,367 | -27.7% |
| Financial debts | 170/4 | €15,794 | €11,427 | -€4,367 | -27.7% |
| Amounts payable within one year | 42/48 | €185,029 | €58,290 | -€126,740 | -68.5% |
| Current portion of amounts payable after more than one year | 42 | €13,824 | €4,367 | -€9,456 | -68.4% |
| Financial debts | 43 | €284 | €3,220 | +€2,937 | +1,036% |
| Credit institutions | 430/8 | €0 | - | = | |
| Other loans | 439 | €284 | €3,220 | +€2,937 | +1,036% |
| Trade debts | 44 | €20,015 | €24,849 | +€4,834 | +24.2% |
| Suppliers | 440/4 | €20,015 | €24,849 | +€4,834 | +24.2% |
| Taxes, remuneration and social security | 45 | €891 | €5,680 | +€4,789 | +538% |
| Taxes | 450/3 | €891 | €5,680 | +€4,789 | +538% |
| Other amounts payable | 47/48 | €150,016 | €20,173 | -€129,843 | -86.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,330 | €23,009 | +€1,678 | +7.9% |
| Other operating charges | 640/8 | €1,853 | €3,004 | +€1,150 | +62.1% |
| Gross operating margin | 9900 | €11,429 | €22,630 | +€11,201 | +98.0% |
| Operating profit (loss) | 9901 | -€11,754 | -€3,382 | +€8,372 | +71.2% |
| Financial income | 75/76B | €130,393 | €134,746 | +€4,353 | +3.3% |
| Recurring financial income | 75 | €130,393 | €134,746 | +€4,353 | +3.3% |
| Financial charges | 65/66B | €1,183 | €1,208 | +€25 | +2.1% |
| Recurring financial charges | 65 | €1,183 | €1,208 | +€25 | +2.1% |
| Profit (loss) for the period before taxes | 9903 | €117,456 | €130,155 | +€12,700 | +10.8% |
| Income taxes | 67/77 | €11,071 | €12,941 | +€1,870 | +16.9% |
| Profit (loss) for the period | 9904 | €106,385 | €117,214 | +€10,830 | +10.2% |
| Profit (loss) for the period to be appropriated | 9905 | €106,385 | €117,214 | +€10,830 | +10.2% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.