ERNELL: 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.
What changed
ERNELL
NACE 10.130, Manufacture of food products
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€131,684
2024 · €378,450-€246,765
Equity
€4.2m
2024 · €4.1m+€130,304
Cash
€561,935
2024 · €942,113-€380,179
Balance sheet total
€8.4m
2024 · €8.3m+€116,985
Largest movements
Assets
- Cash -€380,179
down €380,179 (-40.4%), from €942,113 to €561,935
mainly Investment in fixed assets (net) (-€681,296) and Debts after one year (-€467,934)
- Receivables within one year +€335,295
up €335,295 (+25.4%), from €1.3m to €1.7m
of which Trade receivables: +€329,659
- Stocks and contracts +€129,191
up €129,191 (+9.6%), from €1.4m to €1.5m
Equity and liabilities
- Debts after one year -€467,934
down €467,934 (-25.3%), from €1.8m to €1.4m
- Short-term financial debts +€280,480
new in 2025: €280,480
- Tax, wage and social debts +€167,559
up €167,559 (+54.3%), from €308,598 to €476,157
of which Remuneration and social security: +€156,935
- Reserves +€131,684
up €131,684 (+3.9%), from €3.4m to €3.5m
of which Distributable reserves: +€131,684
Income statement
- Turnover +€772,369
up €772,369 (+5.6%), from €13.8m to €14.6m
- Goods and materials +€656,783
up €656,783 (+9.2%), from €7.2m to €7.8m
of which Purchases: +€746,683
- Staff costs +€541,449
up €541,449 (+21.6%), from €2.5m to €3.0m
- Other operating income +€221,461
up €221,461 (+65.4%), from €338,779 to €560,240
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.
Result 2024
€378,450
Turnover
+€772,369
Other operating income
+€221,461
Goods and materials
-€656,783
Services and other goods
+€36,064
Staff costs
-€541,449
Depreciation
-€85,662
Other operating charges
-€42,906
Other operating items
-€12,836
Financial income
-€3,264
Financial charges
-€1,850
Taxes
+€68,091
Result 2025
€131,684
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€426,823
Investment
-€681,296
Financing
-€125,705
Cash 2024
€942,113
From operations (derived)
+€426,823
Net result for the year
+€131,684
Depreciation
+€624,087
Stocks and contracts
-€129,191
Receivables within one year
-€335,295
Deferred charges and accrued income
+€24,533
Provisions
-€460
Trade debts
-€59,924
Tax, wage and social debts
+€167,559
Accrued charges and deferred income
+€3,831
Investment (derived)
-€681,296
Investment in fixed assets (net)
-€681,296
Financing
-€125,705
Debts after one year
-€467,934
Current portion of long-term debt
+€63,128
Short-term financial debts
+€280,480
Contributions, distributions and other
-€1,380
Cash 2025
€561,935
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,324,209 | €8,441,194 | +€116,985 | +1.4% |
| Fixed assets | 21/28 | €4,635,614 | €4,692,823 | +€57,209 | +1.2% |
| Intangible fixed assets | 21 | €2,144 | €5,663 | +€3,519 | +164% |
| Tangible fixed assets | 22/27 | €4,629,980 | €4,683,670 | +€53,690 | +1.2% |
| Land and buildings | 22 | €2,459,310 | €2,347,738 | -€111,573 | -4.5% |
| Plant, machinery and equipment | 23 | €1,994,256 | €2,083,675 | +€89,419 | +4.5% |
| Furniture and vehicles | 24 | €162,014 | €178,986 | +€16,972 | +10.5% |
| Assets under construction and advance payments | 27 | €14,400 | €73,272 | +€58,872 | +409% |
| Financial fixed assets | 28 | €3,490 | €3,490 | = | 0.0% |
| Other financial fixed assets | 284/8 | €3,490 | €3,490 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €3,490 | €3,490 | = | 0.0% |
| Current assets | 29/58 | €3,688,595 | €3,748,370 | +€59,775 | +1.6% |
| Stocks and contracts in progress | 3 | €1,352,524 | €1,481,716 | +€129,191 | +9.6% |
| Stocks | 30/36 | €1,352,524 | €1,481,716 | +€129,191 | +9.6% |
| Raw materials and consumables | 30/31 | €726,453 | €828,253 | +€101,800 | +14.0% |
| Work in progress | 32 | €103,975 | €121,827 | +€17,852 | +17.2% |
| Finished goods | 33 | €522,097 | €531,636 | +€9,539 | +1.8% |
| Amounts receivable within one year | 40/41 | €1,321,729 | €1,657,025 | +€335,295 | +25.4% |
| Trade receivables | 40 | €1,273,152 | €1,602,810 | +€329,659 | +25.9% |
| Other amounts receivable | 41 | €48,578 | €54,215 | +€5,637 | +11.6% |
| Cash at bank and in hand | 54/58 | €942,113 | €561,935 | -€380,179 | -40.4% |
| Deferred charges and accrued income | 490/1 | €72,228 | €47,695 | -€24,533 | -34.0% |
| Total equity and liabilities | 10/49 | €8,324,209 | €8,441,194 | +€116,985 | +1.4% |
| Equity | 10/15 | €4,107,857 | €4,238,161 | +€130,304 | +3.2% |
| Contributions | 10/11 | €748,000 | €748,000 | = | 0.0% |
| Capital | 10 | €748,000 | €748,000 | = | 0.0% |
| Issued capital | 100 | €748,000 | €748,000 | = | 0.0% |
| Reserves | 13 | €3,350,657 | €3,482,341 | +€131,684 | +3.9% |
| Non-distributable reserves | 130/1 | €74,800 | €74,800 | = | 0.0% |
| Legal reserve | 130 | €74,800 | €74,800 | = | 0.0% |
| Tax-exempt reserves | 132 | €11,000 | €11,000 | = | 0.0% |
| Distributable reserves | 133 | €3,264,857 | €3,396,541 | +€131,684 | +4.0% |
| Investment grants | 15 | €9,200 | €7,820 | -€1,380 | -15.0% |
| Provisions and deferred taxes | 16 | €3,067 | €2,607 | -€460 | -15.0% |
| Deferred taxes | 168 | €3,067 | €2,607 | -€460 | -15.0% |
| Amounts payable | 17/49 | €4,213,286 | €4,200,426 | -€12,860 | -0.3% |
| Amounts payable after more than one year | 17 | €1,848,149 | €1,380,215 | -€467,934 | -25.3% |
| Financial debts | 170/4 | €1,848,149 | €1,380,215 | -€467,934 | -25.3% |
| Credit institutions | 173 | €848,149 | €880,215 | +€32,066 | +3.8% |
| Other loans | 174 | €1,000,000 | €500,000 | -€500,000 | -50.0% |
| Amounts payable within one year | 42/48 | €2,304,899 | €2,756,143 | +€451,244 | +19.6% |
| Current portion of amounts payable after more than one year | 42 | €205,219 | €268,347 | +€63,128 | +30.8% |
| Financial debts | 43 | - | €280,480 | +€280,480 | |
| Credit institutions | 430/8 | - | €280,480 | +€280,480 | |
| Trade debts | 44 | €1,791,082 | €1,731,158 | -€59,924 | -3.3% |
| Suppliers | 440/4 | €1,791,082 | €1,731,158 | -€59,924 | -3.3% |
| Taxes, remuneration and social security | 45 | €308,598 | €476,157 | +€167,559 | +54.3% |
| Taxes | 450/3 | €55,538 | €66,161 | +€10,624 | +19.1% |
| Remuneration and social security | 454/9 | €253,060 | €409,996 | +€156,935 | +62.0% |
| Accrued charges and deferred income | 492/3 | €60,238 | €64,068 | +€3,831 | +6.4% |
| Operating income | 70/76A | €14,209,403 | €15,190,396 | +€980,993 | +6.9% |
| Turnover | 70 | €13,826,595 | €14,598,964 | +€772,369 | +5.6% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €36,028 | €27,391 | -€8,636 | -24.0% |
| Other operating income | 74 | €338,779 | €560,240 | +€221,461 | +65.4% |
| Non-recurring operating income | 76A | €8,000 | €3,800 | -€4,200 | -52.5% |
| Operating charges | 60/66A | €13,600,156 | €14,890,892 | +€1.3m | +9.5% |
| Goods for resale, raw materials and consumables | 60 | €7,172,365 | €7,829,148 | +€656,783 | +9.2% |
| Purchases | 600/8 | €7,184,265 | €7,930,948 | +€746,683 | +10.4% |
| Change in stocks: decrease (increase) | 609 | -€11,900 | -€101,800 | -€89,900 | -755% |
| Services and other goods | 61 | €3,292,980 | €3,256,915 | -€36,064 | -1.1% |
| Remuneration, social security and pensions | 62 | €2,500,965 | €3,042,414 | +€541,449 | +21.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €538,425 | €624,087 | +€85,662 | +15.9% |
| Other operating charges | 640/8 | €95,422 | €138,328 | +€42,906 | +45.0% |
| Operating profit (loss) | 9901 | €609,246 | €299,504 | -€309,742 | -50.8% |
| Financial income | 75/76B | €13,004 | €9,740 | -€3,264 | -25.1% |
| Recurring financial income | 75 | €13,004 | €9,740 | -€3,264 | -25.1% |
| Income from current assets | 751 | - | €5,241 | +€5,241 | |
| Other financial income | 752/9 | €13,004 | €4,499 | -€8,505 | -65.4% |
| Financial charges | 65/66B | €105,070 | €106,919 | +€1,850 | +1.8% |
| Recurring financial charges | 65 | €105,070 | €106,919 | +€1,850 | +1.8% |
| Debt charges | 650 | €77,074 | €85,644 | +€8,571 | +11.1% |
| Other financial charges | 652/9 | €27,996 | €21,275 | -€6,721 | -24.0% |
| Profit (loss) for the period before taxes | 9903 | €517,180 | €202,324 | -€314,856 | -60.9% |
| Transfer from deferred taxes | 780 | €460 | €460 | -€0 | 0.0% |
| Income taxes | 67/77 | €139,191 | €71,100 | -€68,091 | -48.9% |
| Taxes | 670/3 | €139,191 | €71,100 | -€68,091 | -48.9% |
| Profit (loss) for the period | 9904 | €378,450 | €131,684 | -€246,765 | -65.2% |
| Profit (loss) for the period to be appropriated | 9905 | €378,450 | €131,684 | -€246,765 | -65.2% |
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 13 October 2026 via checked.be.