ERPA: 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.
ERPA
Largest movements
- Receivables within one year -€30,256
down €30,256 (-43.7%), from €69,177 to €38,921
of which Other amounts receivable: -€30,256
- Debts after one year -€88,732
down €88,732 (-5.9%), from €1.5m to €1.4m
- Reserves +€43,820
up €43,820 (+10.2%), from €427,884 to €471,705
- Other debts -€35,209
down €35,209 (-10.9%), from €322,108 to €286,898
- Other operating charges -€173,069
down €173,069 (-85.8%), from €201,771 to €28,702
- Gross operating margin -€70,327
down €70,327 (-24.3%), from €289,575 to €219,248
- Financial charges +€46,132
up €46,132 (+240.7%), from €19,163 to €65,295
- Depreciation +€43,941
up €43,941 (+200.2%), from €21,954 to €65,895
- Taxes +€3,314
up €3,314 (+25.6%), from €12,936 to €16,250
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.
Cash bridge derived
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 | €2,382,508 | €2,327,813 | -€54,695 | -2.3% |
| Fixed assets | 21/28 | €2,242,190 | €2,226,714 | -€15,476 | -0.7% |
| Tangible fixed assets | 22/27 | €2,242,190 | €2,226,714 | -€15,476 | -0.7% |
| Land and buildings | 22 | €2,234,690 | €2,199,138 | -€35,553 | -1.6% |
| Plant, machinery and equipment | 23 | - | €18,967 | +€18,967 | |
| Furniture and vehicles | 24 | €7,500 | €8,610 | +€1,110 | +14.8% |
| Current assets | 29/58 | €140,318 | €101,099 | -€39,219 | -28.0% |
| Amounts receivable after more than one year | 29 | €28,323 | €17,878 | -€10,445 | -36.9% |
| Other amounts receivable | 291 | €28,323 | €17,878 | -€10,445 | -36.9% |
| Amounts receivable within one year | 40/41 | €69,177 | €38,921 | -€30,256 | -43.7% |
| Trade receivables | 40 | €24,200 | €24,200 | = | 0.0% |
| Other amounts receivable | 41 | €44,977 | €14,721 | -€30,256 | -67.3% |
| Cash at bank and in hand | 54/58 | €30,618 | €32,577 | +€1,959 | +6.4% |
| Deferred charges and accrued income | 490/1 | €12,201 | €11,724 | -€477 | -3.9% |
| Total equity and liabilities | 10/49 | €2,382,508 | €2,327,813 | -€54,695 | -2.3% |
| Equity | 10/15 | €446,484 | €490,305 | +€43,820 | +9.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €427,884 | €471,705 | +€43,820 | +10.2% |
| Distributable reserves | 133 | €427,884 | €471,705 | +€43,820 | +10.2% |
| Amounts payable | 17/49 | €1,936,024 | €1,837,509 | -€98,515 | -5.1% |
| Amounts payable after more than one year | 17 | €1,511,642 | €1,422,911 | -€88,732 | -5.9% |
| Financial debts | 170/4 | €1,511,642 | €1,422,911 | -€88,732 | -5.9% |
| Amounts payable within one year | 42/48 | €423,382 | €401,786 | -€21,596 | -5.1% |
| Current portion of amounts payable after more than one year | 42 | €87,387 | €88,732 | +€1,345 | +1.5% |
| Trade debts | 44 | €7,922 | €1,065 | -€6,857 | -86.6% |
| Suppliers | 440/4 | €7,922 | €1,065 | -€6,857 | -86.6% |
| Taxes, remuneration and social security | 45 | €5,965 | €25,090 | +€19,125 | +320.6% |
| Taxes | 450/3 | €5,965 | €25,090 | +€19,125 | +320.6% |
| Other amounts payable | 47/48 | €322,108 | €286,898 | -€35,209 | -10.9% |
| Accrued charges and deferred income | 492/3 | €1,000 | €12,812 | +€11,812 | +1181.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,954 | €65,895 | +€43,941 | +200.2% |
| Other operating charges | 640/8 | €201,771 | €28,702 | -€173,069 | -85.8% |
| Gross operating margin | 9900 | €289,575 | €219,248 | -€70,327 | -24.3% |
| Operating profit (loss) | 9901 | €65,850 | €124,651 | +€58,801 | +89.3% |
| Financial income | 75/76B | €894 | €715 | -€179 | -20.0% |
| Recurring financial income | 75 | €894 | €715 | -€179 | -20.0% |
| Financial charges | 65/66B | €19,163 | €65,295 | +€46,132 | +240.7% |
| Recurring financial charges | 65 | €19,163 | €65,295 | +€46,132 | +240.7% |
| Profit (loss) for the period before taxes | 9903 | €47,580 | €60,071 | +€12,490 | +26.3% |
| Income taxes | 67/77 | €12,936 | €16,250 | +€3,314 | +25.6% |
| Profit (loss) for the period | 9904 | €34,644 | €43,820 | +€9,176 | +26.5% |
| Profit (loss) for the period to be appropriated | 9905 | €34,644 | €43,820 | +€9,176 | +26.5% |
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 9 October 2026 via checked.be.