ERNOUD-BONNET: 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.
ERNOUD-BONNET
Largest movements
- Tangible fixed assets +€30,919
up €30,919 (+79.0%), from €39,162 to €70,081
of which Furniture and vehicles: +€30,083
- Receivables within one year +€20,318
up €20,318 (+56.5%), from €35,937 to €56,255
of which Other amounts receivable: +€12,842
- Cash -€12,395
down €12,395 (-11.1%), from €111,265 to €98,870
mainly Investment in fixed assets (net) (-€44,314) and Tax, wage and social debts (-€34,289)
- Stocks and contracts -€6,370
down €6,370 (-57.3%), from €11,120 to €4,750
- Tax, wage and social debts -€34,289
down €34,289 (-87.1%), from €39,360 to €5,072
- Other debts +€30,000
up €30,000, from €0 to €30,000
- Debts after one year +€20,058
up €20,058 (+204%), from €9,853 to €29,911
- Profit (loss) carried forward +€11,937
up €11,937 (+8.4%), from €141,445 to €153,382
- Current portion of long-term debt +€6,445
up €6,445 (+165%), from €3,913 to €10,359
- Taxes -€4,018
down €4,018 (-29.0%), from €13,872 to €9,854
- Other operating charges +€2,326
up €2,326 (+125%), from €1,864 to €4,190
- Gross operating margin +€1,960
up €1,960 (+2.9%), from €66,977 to €68,937
- Depreciation +€1,315
up €1,315 (+10.7%), from €12,280 to €13,595
- Financial income +€946
up €946 (+70.4%), from €1,343 to €2,289
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 | €200,082 | €233,723 | +€33,641 | +16.8% |
| Fixed assets | 21/28 | €39,761 | €70,480 | +€30,719 | +77.3% |
| Intangible fixed assets | 21 | €600 | €400 | -€200 | -33.4% |
| Tangible fixed assets | 22/27 | €39,162 | €70,081 | +€30,919 | +79.0% |
| Plant, machinery and equipment | 23 | €7,446 | €5,008 | -€2,437 | -32.7% |
| Furniture and vehicles | 24 | €18,996 | €49,078 | +€30,083 | +158% |
| Other tangible fixed assets | 26 | €12,720 | €15,994 | +€3,274 | +25.7% |
| Current assets | 29/58 | €160,321 | €163,243 | +€2,922 | +1.8% |
| Stocks and contracts in progress | 3 | €11,120 | €4,750 | -€6,370 | -57.3% |
| Stocks | 30/36 | €11,120 | €4,750 | -€6,370 | -57.3% |
| Amounts receivable within one year | 40/41 | €35,937 | €56,255 | +€20,318 | +56.5% |
| Trade receivables | 40 | €13,752 | €21,228 | +€7,476 | +54.4% |
| Other amounts receivable | 41 | €22,185 | €35,027 | +€12,842 | +57.9% |
| Cash at bank and in hand | 54/58 | €111,265 | €98,870 | -€12,395 | -11.1% |
| Deferred charges and accrued income | 490/1 | €1,999 | €3,368 | +€1,368 | +68.4% |
| Total equity and liabilities | 10/49 | €200,082 | €233,723 | +€33,641 | +16.8% |
| Equity | 10/15 | €146,445 | €158,382 | +€11,937 | +8.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €141,445 | €153,382 | +€11,937 | +8.4% |
| Amounts payable | 17/49 | €53,638 | €75,342 | +€21,704 | +40.5% |
| Amounts payable after more than one year | 17 | €9,853 | €29,911 | +€20,058 | +204% |
| Financial debts | 170/4 | €9,853 | €29,911 | +€20,058 | +204% |
| Amounts payable within one year | 42/48 | €43,785 | €45,431 | +€1,646 | +3.8% |
| Current portion of amounts payable after more than one year | 42 | €3,913 | €10,359 | +€6,445 | +165% |
| Trade debts | 44 | €511 | €0 | -€511 | -100% |
| Suppliers | 440/4 | €511 | €0 | -€511 | -100% |
| Taxes, remuneration and social security | 45 | €39,360 | €5,072 | -€34,289 | -87.1% |
| Taxes | 450/3 | €39,360 | €5,072 | -€34,289 | -87.1% |
| Other amounts payable | 47/48 | €0 | €30,000 | +€30,000 | |
| Non-recurring operating income | 76A | - | €5,334 | +€5,334 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,280 | €13,595 | +€1,315 | +10.7% |
| Other operating charges | 640/8 | €1,864 | €4,190 | +€2,326 | +125% |
| Gross operating margin | 9900 | €66,977 | €68,937 | +€1,960 | +2.9% |
| Operating profit (loss) | 9901 | €52,834 | €51,153 | -€1,681 | -3.2% |
| Financial income | 75/76B | €1,343 | €2,289 | +€946 | +70.4% |
| Recurring financial income | 75 | €1,343 | €2,289 | +€946 | +70.4% |
| Financial charges | 65/66B | €1,207 | €1,650 | +€443 | +36.7% |
| Recurring financial charges | 65 | €1,207 | €1,650 | +€443 | +36.7% |
| Profit (loss) for the period before taxes | 9903 | €52,970 | €51,792 | -€1,178 | -2.2% |
| Income taxes | 67/77 | €13,872 | €9,854 | -€4,018 | -29.0% |
| Profit (loss) for the period | 9904 | €39,098 | €41,937 | +€2,840 | +7.3% |
| Profit (loss) for the period to be appropriated | 9905 | €39,098 | €41,937 | +€2,840 | +7.3% |
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 25 October 2026 via checked.be.