ERMIS: 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.
ERMIS
Largest movements
- Cash +€56,392
up €56,392 (+38.3%), from €147,116 to €203,508
mainly Net result for the year (+€137,455) and Tax, wage and social debts (+€52,374)
- Receivables within one year -€32,138
down €32,138 (-36.0%), from €89,181 to €57,043
of which Trade receivables: -€32,950
- Tangible fixed assets -€27,645
down €27,645 (-29.0%), from €95,219 to €67,574
of which Furniture and vehicles: -€27,776
- Tax, wage and social debts +€52,374
up €52,374 (+303%), from €17,314 to €69,687
- Reserves -€43,703
down €43,703 (-17.1%), from €254,829 to €211,126
- Other debts +€19,071
up €19,071 (+320%), from €5,961 to €25,032
- Trade debts -€18,071
down €18,071 (-99.8%), from €18,103 to €32
- Debts after one year -€13,120
down €13,120 (-65.8%), from €19,930 to €6,810
- Gross operating margin +€86,762
up €86,762 (+68.8%), from €126,182 to €212,943
- Taxes +€23,017
up €23,017 (+112%), from €20,562 to €43,579
- Depreciation -€2,287
down €2,287 (-7.5%), from €30,598 to €28,311
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 | €333,617 | €330,807 | -€2,810 | -0.8% |
| Fixed assets | 21/28 | €95,219 | €67,574 | -€27,645 | -29.0% |
| Tangible fixed assets | 22/27 | €95,219 | €67,574 | -€27,645 | -29.0% |
| Plant, machinery and equipment | 23 | €1,136 | €678 | -€457 | -40.3% |
| Furniture and vehicles | 24 | €94,083 | €66,308 | -€27,776 | -29.5% |
| Other tangible fixed assets | 26 | - | €588 | +€588 | |
| Current assets | 29/58 | €238,398 | €263,233 | +€24,835 | +10.4% |
| Amounts receivable within one year | 40/41 | €89,181 | €57,043 | -€32,138 | -36.0% |
| Trade receivables | 40 | €84,743 | €51,793 | -€32,950 | -38.9% |
| Other amounts receivable | 41 | €4,438 | €5,250 | +€812 | +18.3% |
| Cash at bank and in hand | 54/58 | €147,116 | €203,508 | +€56,392 | +38.3% |
| Deferred charges and accrued income | 490/1 | €2,101 | €2,683 | +€582 | +27.7% |
| Total equity and liabilities | 10/49 | €333,617 | €330,807 | -€2,810 | -0.8% |
| Equity | 10/15 | €259,829 | €216,126 | -€43,703 | -16.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €254,829 | €211,126 | -€43,703 | -17.1% |
| Distributable reserves | 133 | €254,829 | €211,126 | -€43,703 | -17.1% |
| Amounts payable | 17/49 | €73,789 | €114,681 | +€40,893 | +55.4% |
| Amounts payable after more than one year | 17 | €19,930 | €6,810 | -€13,120 | -65.8% |
| Financial debts | 170/4 | €19,930 | €6,810 | -€13,120 | -65.8% |
| Amounts payable within one year | 42/48 | €53,858 | €107,871 | +€54,013 | +100% |
| Current portion of amounts payable after more than one year | 42 | €12,481 | €13,120 | +€640 | +5.1% |
| Trade debts | 44 | €18,103 | €32 | -€18,071 | -99.8% |
| Suppliers | 440/4 | €18,103 | €32 | -€18,071 | -99.8% |
| Taxes, remuneration and social security | 45 | €17,314 | €69,687 | +€52,374 | +303% |
| Taxes | 450/3 | €17,314 | €69,687 | +€52,374 | +303% |
| Other amounts payable | 47/48 | €5,961 | €25,032 | +€19,071 | +320% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,598 | €28,311 | -€2,287 | -7.5% |
| Other operating charges | 640/8 | €743 | €1,594 | +€851 | +114% |
| Gross operating margin | 9900 | €126,182 | €212,943 | +€86,762 | +68.8% |
| Operating profit (loss) | 9901 | €94,841 | €183,039 | +€88,198 | +93.0% |
| Financial income | 75/76B | €1,573 | €94 | -€1,479 | -94.0% |
| Recurring financial income | 75 | €1,573 | €94 | -€1,479 | -94.0% |
| Financial charges | 65/66B | €2,179 | €2,099 | -€80 | -3.7% |
| Recurring financial charges | 65 | €2,179 | €2,099 | -€80 | -3.7% |
| Profit (loss) for the period before taxes | 9903 | €94,234 | €181,033 | +€86,800 | +92.1% |
| Income taxes | 67/77 | €20,562 | €43,579 | +€23,017 | +112% |
| Profit (loss) for the period | 9904 | €73,672 | €137,455 | +€63,783 | +86.6% |
| Profit (loss) for the period to be appropriated | 9905 | €73,672 | €137,455 | +€63,783 | +86.6% |
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 31 October 2026 via checked.be.