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 -€80,964
down €80,964 (-37.2%), from €217,358 to €136,394
mainly Receivables within one year (-€56,275) and Debts after one year (-€24,371)
- Receivables within one year +€56,275
up €56,275 (+115%), from €48,950 to €105,224
of which Trade receivables: +€53,585
- Deferred charges and accrued income +€10,014
up €10,014 (+9,899%), from €101 to €10,116
- Debts after one year -€24,371
no longer reported in 2025 (was €24,371)
- Profit (loss) carried forward +€19,315
up €19,315 (+20.2%), from -€95,772 to -€76,457
- Current portion of long-term debt -€16,688
down €16,688 (-37.5%), from €44,517 to €27,829
- Tax, wage and social debts +€5,511
up €5,511 (+12.7%), from €43,426 to €48,937
of which Taxes: +€6,177
- Gross operating margin -€137,684
down €137,684 (-81.6%), from €168,724 to €31,040
- Taxes -€32,169
down €32,169 (-81.9%), from €39,291 to €7,122
- Write-downs -€27,589
no longer reported in 2025 (was €27,589)
- Financial charges -€3,380
down €3,380 (-61.4%), from €5,501 to €2,121
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 | €360,090 | €346,976 | -€13,114 | -3.6% |
| Fixed assets | 21/28 | €8,681 | €10,243 | +€1,562 | +18.0% |
| Tangible fixed assets | 22/27 | €8,681 | €10,243 | +€1,562 | +18.0% |
| Plant, machinery and equipment | 23 | €3,629 | €5,504 | +€1,875 | +51.7% |
| Furniture and vehicles | 24 | €5,052 | €4,739 | -€313 | -6.2% |
| Current assets | 29/58 | €351,409 | €336,733 | -€14,676 | -4.2% |
| Amounts receivable after more than one year | 29 | €85,000 | €85,000 | = | 0.0% |
| Other amounts receivable | 291 | €85,000 | €85,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €48,950 | €105,224 | +€56,275 | +115% |
| Trade receivables | 40 | €20,799 | €74,385 | +€53,585 | +258% |
| Other amounts receivable | 41 | €28,151 | €30,840 | +€2,689 | +9.6% |
| Cash at bank and in hand | 54/58 | €217,358 | €136,394 | -€80,964 | -37.2% |
| Deferred charges and accrued income | 490/1 | €101 | €10,116 | +€10,014 | +9,899% |
| Total equity and liabilities | 10/49 | €360,090 | €346,976 | -€13,114 | -3.6% |
| Equity | 10/15 | €159,323 | €178,638 | +€19,315 | +12.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €236,495 | €236,495 | = | 0.0% |
| Distributable reserves | 133 | €236,495 | €236,495 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€95,772 | -€76,457 | +€19,315 | +20.2% |
| Amounts payable | 17/49 | €200,766 | €168,338 | -€32,429 | -16.2% |
| Amounts payable after more than one year | 17 | €24,371 | - | -€24,371 | |
| Financial debts | 170/4 | €24,371 | - | -€24,371 | |
| Amounts payable within one year | 42/48 | €176,396 | €168,338 | -€8,058 | -4.6% |
| Current portion of amounts payable after more than one year | 42 | €44,517 | €27,829 | -€16,688 | -37.5% |
| Trade debts | 44 | €88,453 | €91,572 | +€3,119 | +3.5% |
| Suppliers | 440/4 | €88,453 | €91,572 | +€3,119 | +3.5% |
| Taxes, remuneration and social security | 45 | €43,426 | €48,937 | +€5,511 | +12.7% |
| Taxes | 450/3 | €40,260 | €46,437 | +€6,177 | +15.3% |
| Remuneration and social security | 454/9 | €3,166 | €2,500 | -€666 | -21.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,269 | €2,316 | +€47 | +2.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €27,589 | - | -€27,589 | |
| Other operating charges | 640/8 | €1,987 | €1,745 | -€242 | -12.2% |
| Gross operating margin | 9900 | €168,724 | €31,040 | -€137,684 | -81.6% |
| Operating profit (loss) | 9901 | €136,878 | €26,979 | -€109,899 | -80.3% |
| Financial income | 75/76B | €1,286 | €1,579 | +€293 | +22.8% |
| Recurring financial income | 75 | €1,286 | €1,579 | +€293 | +22.8% |
| Financial charges | 65/66B | €5,501 | €2,121 | -€3,380 | -61.4% |
| Recurring financial charges | 65 | €5,501 | €2,121 | -€3,380 | -61.4% |
| Profit (loss) for the period before taxes | 9903 | €132,663 | €26,437 | -€106,226 | -80.1% |
| Income taxes | 67/77 | €39,291 | €7,122 | -€32,169 | -81.9% |
| Profit (loss) for the period | 9904 | €93,372 | €19,315 | -€74,057 | -79.3% |
| Profit (loss) for the period to be appropriated | 9905 | €93,372 | €19,315 | -€74,057 | -79.3% |
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 17 October 2026 via checked.be.