ERMI CONSTRUCT: 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.
ERMI CONSTRUCT
Largest movements
- Financial fixed assets +€450,000
up €450,000 (+22500.0%), from €2,000 to €452,000
- Tangible fixed assets -€76,529
down €76,529 (-3.7%), from €2.1m to €2.0m
of which Land and buildings: -€67,889
- Deferred charges and accrued income -€60,722
down €60,722 (-93.3%), from €65,089 to €4,368
- Cash +€50,547
up €50,547 (+110.7%), from €45,665 to €96,211
mainly Debts after one year (+€291,755) and Net result for the year (+€181,636)
- Debts after one year +€291,755
up €291,755 (+18.0%), from €1.6m to €1.9m
- Reserves +€181,636
up €181,636 (+54.1%), from €335,639 to €517,275
- Advances received -€82,115
no longer reported in 2025 (was €82,115)
- Other debts +€29,010
up €29,010 (+335.7%), from €8,643 to €37,653
- Tax, wage and social debts -€28,461
down €28,461 (-67.5%), from €42,150 to €13,688
of which Taxes: -€28,761
- Other operating charges -€234,827
down €234,827 (-98.5%), from €238,395 to €3,568
- Financial income +€152,957
up €152,957 (+275103.1%), from €56 to €153,013
- Financial charges +€54,584
up €54,584 (+108.1%), from €50,478 to €105,063
- Gross operating margin -€33,560
down €33,560 (-12.6%), from €265,744 to €232,183
- Depreciation +€30,882
up €30,882 (+67.7%), from €45,647 to €76,529
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 | €2,204,474 | €2,593,477 | +€389,003 | +17.6% |
| Fixed assets | 21/28 | €2,080,795 | €2,454,266 | +€373,471 | +17.9% |
| Tangible fixed assets | 22/27 | €2,078,795 | €2,002,266 | -€76,529 | -3.7% |
| Land and buildings | 22 | €2,038,131 | €1,970,242 | -€67,889 | -3.3% |
| Plant, machinery and equipment | 23 | €35,907 | €29,720 | -€6,187 | -17.2% |
| Furniture and vehicles | 24 | €4,757 | €2,305 | -€2,452 | -51.5% |
| Financial fixed assets | 28 | €2,000 | €452,000 | +€450,000 | +22500.0% |
| Current assets | 29/58 | €123,679 | €139,210 | +€15,532 | +12.6% |
| Stocks and contracts in progress | 3 | - | €14,200 | +€14,200 | |
| Stocks | 30/36 | - | €14,200 | +€14,200 | |
| Amounts receivable within one year | 40/41 | €12,925 | €24,432 | +€11,507 | +89.0% |
| Trade receivables | 40 | €1,316 | €22,216 | +€20,900 | +1588.7% |
| Other amounts receivable | 41 | €11,609 | €2,216 | -€9,393 | -80.9% |
| Cash at bank and in hand | 54/58 | €45,665 | €96,211 | +€50,547 | +110.7% |
| Deferred charges and accrued income | 490/1 | €65,089 | €4,368 | -€60,722 | -93.3% |
| Total equity and liabilities | 10/49 | €2,204,474 | €2,593,477 | +€389,003 | +17.6% |
| Equity | 10/15 | €355,639 | €537,275 | +€181,636 | +51.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €335,639 | €517,275 | +€181,636 | +54.1% |
| Distributable reserves | 133 | €335,639 | €517,275 | +€181,636 | +54.1% |
| Amounts payable | 17/49 | €1,848,835 | €2,056,202 | +€207,367 | +11.2% |
| Amounts payable after more than one year | 17 | €1,624,864 | €1,916,619 | +€291,755 | +18.0% |
| Financial debts | 170/4 | €1,624,864 | €1,916,619 | +€291,755 | +18.0% |
| Amounts payable within one year | 42/48 | €221,181 | €139,583 | -€81,598 | -36.9% |
| Current portion of amounts payable after more than one year | 42 | €81,416 | €83,245 | +€1,828 | +2.2% |
| Trade debts | 44 | €6,857 | €4,997 | -€1,861 | -27.1% |
| Suppliers | 440/4 | €6,857 | €4,997 | -€1,861 | -27.1% |
| Advances received on contracts in progress | 46 | €82,115 | - | -€82,115 | |
| Taxes, remuneration and social security | 45 | €42,150 | €13,688 | -€28,461 | -67.5% |
| Taxes | 450/3 | €42,150 | €13,388 | -€28,761 | -68.2% |
| Remuneration and social security | 454/9 | - | €300 | +€300 | |
| Other amounts payable | 47/48 | €8,643 | €37,653 | +€29,010 | +335.7% |
| Accrued charges and deferred income | 492/3 | €2,790 | - | -€2,790 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,647 | €76,529 | +€30,882 | +67.7% |
| Other operating charges | 640/8 | €238,395 | €3,568 | -€234,827 | -98.5% |
| Gross operating margin | 9900 | €265,744 | €232,183 | -€33,560 | -12.6% |
| Operating profit (loss) | 9901 | -€18,298 | €152,087 | +€170,385 | |
| Financial income | 75/76B | €56 | €153,013 | +€152,957 | +275103.1% |
| Recurring financial income | 75 | €56 | €153,013 | +€152,957 | +275103.1% |
| Financial charges | 65/66B | €50,478 | €105,063 | +€54,584 | +108.1% |
| Recurring financial charges | 65 | €50,478 | €105,063 | +€54,584 | +108.1% |
| Profit (loss) for the period before taxes | 9903 | -€68,721 | €200,037 | +€268,758 | |
| Income taxes | 67/77 | €271 | €18,402 | +€18,131 | +6700.0% |
| Profit (loss) for the period | 9904 | -€68,992 | €181,636 | +€250,627 | |
| Profit (loss) for the period to be appropriated | 9905 | -€68,992 | €181,636 | +€250,627 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.