ERNEST LIVELY: 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.
ERNEST LIVELY
Largest movements
- Tangible fixed assets +€1.2m
up €1.2m (+76.9%), from €1.5m to €2.7m
of which Land and buildings: +€1.1m
- Debts after one year +€1.3m
up €1.3m (+87.4%), from €1.5m to €2.7m
of which Financial debts: +€1.4m
- Profit (loss) carried forward -€220,737
down €220,737 (-130%), from -€169,331 to -€390,068
- Trade debts +€66,864
up €66,864 (+76.5%), from €87,428 to €154,292
- Current portion of long-term debt +€45,378
new in 2025: €45,378
- Depreciation +€69,156
up €69,156 (+192%), from €36,087 to €105,242
- Financial charges +€40,628
up €40,628 (+1,860%), from €2,184 to €42,811
- Gross operating margin +€20,138
up €20,138 (+22.0%), from -€91,525 to -€71,387
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 | €1,517,200 | €2,688,896 | +€1.2m | +77.2% |
| Fixed assets | 21/28 | €1,511,014 | €2,672,758 | +€1.2m | +76.9% |
| Tangible fixed assets | 22/27 | €1,511,014 | €2,672,758 | +€1.2m | +76.9% |
| Land and buildings | 22 | €1,511,014 | €2,649,579 | +€1.1m | +75.4% |
| Furniture and vehicles | 24 | - | €23,179 | +€23,179 | |
| Current assets | 29/58 | €6,186 | €16,138 | +€9,952 | +161% |
| Cash at bank and in hand | 54/58 | €1,978 | €10,910 | +€8,931 | +451% |
| Deferred charges and accrued income | 490/1 | €4,208 | €5,228 | +€1,021 | +24.3% |
| Total equity and liabilities | 10/49 | €1,517,200 | €2,688,896 | +€1.2m | +77.2% |
| Equity | 10/15 | -€35,838 | -€256,575 | -€220,737 | -616% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €71,493 | €71,493 | = | 0.0% |
| Non-distributable reserves | 130/1 | €30,950 | €30,950 | = | 0.0% |
| Legal reserve | 130 | €30,950 | €30,950 | = | 0.0% |
| Distributable reserves | 133 | €40,543 | €40,543 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€169,331 | -€390,068 | -€220,737 | -130% |
| Amounts payable | 17/49 | €1,553,038 | €2,945,470 | +€1.4m | +89.7% |
| Amounts payable after more than one year | 17 | €1,455,135 | €2,727,153 | +€1.3m | +87.4% |
| Financial debts | 170/4 | - | €1,413,864 | +€1.4m | |
| Other amounts payable | 178/9 | €1,455,135 | €1,313,289 | -€141,846 | -9.7% |
| Amounts payable within one year | 42/48 | €97,903 | €213,627 | +€115,724 | +118% |
| Current portion of amounts payable after more than one year | 42 | - | €45,378 | +€45,378 | |
| Trade debts | 44 | €87,428 | €154,292 | +€66,864 | +76.5% |
| Suppliers | 440/4 | €87,428 | €154,292 | +€66,864 | +76.5% |
| Taxes, remuneration and social security | 45 | €2,734 | €13,427 | +€10,693 | +391% |
| Taxes | 450/3 | €2,734 | €13,427 | +€10,693 | +391% |
| Other amounts payable | 47/48 | €7,741 | €530 | -€7,211 | -93.2% |
| Accrued charges and deferred income | 492/3 | - | €4,690 | +€4,690 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,087 | €105,242 | +€69,156 | +192% |
| Other operating charges | 640/8 | €387 | €1,297 | +€909 | +235% |
| Gross operating margin | 9900 | -€91,525 | -€71,387 | +€20,138 | +22.0% |
| Operating profit (loss) | 9901 | -€127,999 | -€177,925 | -€49,926 | -39.0% |
| Financial charges | 65/66B | €2,184 | €42,811 | +€40,628 | +1,860% |
| Recurring financial charges | 65 | €2,184 | €42,811 | +€40,628 | +1,860% |
| Profit (loss) for the period before taxes | 9903 | -€130,183 | -€220,737 | -€90,554 | -69.6% |
| Profit (loss) for the period | 9904 | -€130,183 | -€220,737 | -€90,554 | -69.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€130,183 | -€220,737 | -€90,554 | -69.6% |
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 25 October 2026 via checked.be.