ERNOUX PH.: 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.
ERNOUX PH.
Largest movements
- Receivables within one year +€16,924
up €16,924 (+15.0%), from €112,726 to €129,650
of which Other amounts receivable: +€11,255
- Tangible fixed assets +€13,924
up €13,924 (+24.4%), from €56,999 to €70,922
of which Plant, machinery and equipment: +€20,681
- Cash +€9,907
up €9,907 (+21.1%), from €47,034 to €56,941
mainly Tax, wage and social debts (+€32,732) and Trade debts (+€28,076)
- Deferred charges and accrued income +€8,654
up €8,654 (+1,921%), from €451 to €9,105
- Stocks and contracts +€3,578
new in 2026: €3,578
- Debts after one year -€33,723
down €33,723 (-76.7%), from €43,964 to €10,241
- Tax, wage and social debts +€32,732
up €32,732 (+150%), from €21,770 to €54,502
of which Remuneration and social security: +€39,616
- Trade debts +€28,076
up €28,076 (+68.0%), from €41,277 to €69,354
- Other debts +€17,046
up €17,046 (+24.6%), from €69,369 to €86,416
- Reserves +€10,894
up €10,894 (+51.8%), from €21,045 to €31,939
- Staff costs +€75,463
up €75,463 (+15.8%), from €476,132 to €551,595
- Gross operating margin +€51,328
up €51,328 (+9.6%), from €537,191 to €588,519
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €217,414 | €270,401 | +€52,987 | +24.4% |
| Fixed assets | 21/28 | €57,204 | €71,127 | +€13,924 | +24.3% |
| Tangible fixed assets | 22/27 | €56,999 | €70,922 | +€13,924 | +24.4% |
| Plant, machinery and equipment | 23 | €18,315 | €38,996 | +€20,681 | +113% |
| Furniture and vehicles | 24 | €20,834 | €16,557 | -€4,277 | -20.5% |
| Other tangible fixed assets | 26 | €17,849 | €15,369 | -€2,480 | -13.9% |
| Financial fixed assets | 28 | €205 | €205 | = | 0.0% |
| Current assets | 29/58 | €160,210 | €199,274 | +€39,063 | +24.4% |
| Stocks and contracts in progress | 3 | - | €3,578 | +€3,578 | |
| Stocks | 30/36 | - | €3,578 | +€3,578 | |
| Amounts receivable within one year | 40/41 | €112,726 | €129,650 | +€16,924 | +15.0% |
| Trade receivables | 40 | €105,558 | €111,227 | +€5,669 | +5.4% |
| Other amounts receivable | 41 | €7,168 | €18,423 | +€11,255 | +157% |
| Cash at bank and in hand | 54/58 | €47,034 | €56,941 | +€9,907 | +21.1% |
| Deferred charges and accrued income | 490/1 | €451 | €9,105 | +€8,654 | +1,921% |
| Total equity and liabilities | 10/49 | €217,414 | €270,401 | +€52,987 | +24.4% |
| Equity | 10/15 | €26,045 | €36,939 | +€10,894 | +41.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €21,045 | €31,939 | +€10,894 | +51.8% |
| Distributable reserves | 133 | €21,045 | €31,939 | +€10,894 | +51.8% |
| Amounts payable | 17/49 | €191,369 | €233,462 | +€42,093 | +22.0% |
| Amounts payable after more than one year | 17 | €43,964 | €10,241 | -€33,723 | -76.7% |
| Financial debts | 170/4 | €43,964 | €10,241 | -€33,723 | -76.7% |
| Amounts payable within one year | 42/48 | €147,405 | €223,221 | +€75,816 | +51.4% |
| Current portion of amounts payable after more than one year | 42 | €14,989 | €12,950 | -€2,039 | -13.6% |
| Trade debts | 44 | €41,277 | €69,354 | +€28,076 | +68.0% |
| Suppliers | 440/4 | €41,277 | €69,354 | +€28,076 | +68.0% |
| Taxes, remuneration and social security | 45 | €21,770 | €54,502 | +€32,732 | +150% |
| Taxes | 450/3 | €8,086 | €1,202 | -€6,884 | -85.1% |
| Remuneration and social security | 454/9 | €13,684 | €53,300 | +€39,616 | +290% |
| Other amounts payable | 47/48 | €69,369 | €86,416 | +€17,046 | +24.6% |
| Remuneration, social security and pensions | 62 | €476,132 | €551,595 | +€75,463 | +15.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,440 | €22,164 | +€4,724 | +27.1% |
| Other operating charges | 640/8 | €6,649 | €2,802 | -€3,847 | -57.9% |
| Non-recurring operating charges | 66A | €3,621 | - | -€3,621 | |
| Gross operating margin | 9900 | €537,191 | €588,519 | +€51,328 | +9.6% |
| Operating profit (loss) | 9901 | €33,349 | €11,959 | -€21,390 | -64.1% |
| Financial income | 75/76B | €374 | €4,858 | +€4,483 | +1,197% |
| Recurring financial income | 75 | €374 | €4,858 | +€4,483 | +1,197% |
| Financial charges | 65/66B | €4,593 | €2,154 | -€2,439 | -53.1% |
| Recurring financial charges | 65 | €4,593 | €2,154 | -€2,439 | -53.1% |
| Profit (loss) for the period before taxes | 9903 | €29,131 | €14,663 | -€14,468 | -49.7% |
| Income taxes | 67/77 | €8,086 | €3,769 | -€4,317 | -53.4% |
| Profit (loss) for the period | 9904 | €21,045 | €10,894 | -€10,151 | -48.2% |
| Profit (loss) for the period to be appropriated | 9905 | €21,045 | €10,894 | -€10,151 | -48.2% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.