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 +€35,700
up €35,700 (+11.8%), from €303,183 to €338,883
of which Trade receivables: +€18,745
- Cash -€10,613
no longer reported in 2025 (was €10,613)
mainly Receivables within one year (-€35,700) and Tax, wage and social debts (-€11,500)
- Tangible fixed assets -€9,077
down €9,077 (-32.8%), from €27,670 to €18,593
of which Furniture and vehicles: -€7,870
- Profit (loss) carried forward +€34,674
up €34,674 (+13.1%), from €264,991 to €299,665
- Tax, wage and social debts -€11,500
no longer reported in 2025 (was €11,500)
- Debts after one year -€6,090
down €6,090 (-56.9%), from €10,707 to €4,617
- Current portion of long-term debt -€3,596
down €3,596 (-37.1%), from €9,687 to €6,091
- Taxes -€10,514
down €10,514 (-91.4%), from €11,500 to €986
- Gross operating margin +€9,336
up €9,336 (+19.1%), from €48,788 to €58,124
- Other operating charges +€5,886
up €5,886 (+252%), from €2,338 to €8,224
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 | €341,466 | €357,476 | +€16,010 | +4.7% |
| Fixed assets | 21/28 | €27,670 | €18,593 | -€9,077 | -32.8% |
| Tangible fixed assets | 22/27 | €27,670 | €18,593 | -€9,077 | -32.8% |
| Plant, machinery and equipment | 23 | €5,150 | €3,943 | -€1,207 | -23.4% |
| Furniture and vehicles | 24 | €22,520 | €14,650 | -€7,870 | -34.9% |
| Current assets | 29/58 | €313,796 | €338,883 | +€25,087 | +8.0% |
| Amounts receivable within one year | 40/41 | €303,183 | €338,883 | +€35,700 | +11.8% |
| Trade receivables | 40 | €2,047 | €20,792 | +€18,745 | +916% |
| Other amounts receivable | 41 | €301,136 | €318,091 | +€16,955 | +5.6% |
| Cash at bank and in hand | 54/58 | €10,613 | - | -€10,613 | |
| Total equity and liabilities | 10/49 | €341,466 | €357,476 | +€16,010 | +4.7% |
| Equity | 10/15 | €300,188 | €334,862 | +€34,674 | +11.6% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Capital | 10 | €6,197 | - | -€6,197 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Uncalled capital | 101 | €12,403 | - | -€12,403 | |
| Reserves | 13 | €29,000 | €29,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €29,000 | €29,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €264,991 | €299,665 | +€34,674 | +13.1% |
| Amounts payable | 17/49 | €41,278 | €22,614 | -€18,664 | -45.2% |
| Amounts payable after more than one year | 17 | €10,707 | €4,617 | -€6,090 | -56.9% |
| Financial debts | 170/4 | €10,707 | €4,617 | -€6,090 | -56.9% |
| Amounts payable within one year | 42/48 | €30,571 | €17,997 | -€12,574 | -41.1% |
| Current portion of amounts payable after more than one year | 42 | €9,687 | €6,091 | -€3,596 | -37.1% |
| Financial debts | 43 | - | €211 | +€211 | |
| Credit institutions | 430/8 | - | €211 | +€211 | |
| Trade debts | 44 | €9,384 | €11,695 | +€2,311 | +24.6% |
| Suppliers | 440/4 | €9,384 | €11,695 | +€2,311 | +24.6% |
| Taxes, remuneration and social security | 45 | €11,500 | - | -€11,500 | |
| Taxes | 450/3 | €11,500 | - | -€11,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,844 | €13,045 | +€201 | +1.6% |
| Other operating charges | 640/8 | €2,338 | €8,224 | +€5,886 | +252% |
| Gross operating margin | 9900 | €48,788 | €58,124 | +€9,336 | +19.1% |
| Operating profit (loss) | 9901 | €33,606 | €36,855 | +€3,249 | +9.7% |
| Financial charges | 65/66B | €1,396 | €1,195 | -€201 | -14.4% |
| Recurring financial charges | 65 | €1,396 | €1,195 | -€201 | -14.4% |
| Non-recurring financial charges | 66B | €1,396 | €1,195 | -€201 | -14.4% |
| Profit (loss) for the period before taxes | 9903 | €32,210 | €35,660 | +€3,450 | +10.7% |
| Income taxes | 67/77 | €11,500 | €986 | -€10,514 | -91.4% |
| Profit (loss) for the period | 9904 | €20,710 | €34,674 | +€13,964 | +67.4% |
| Profit (loss) for the period to be appropriated | 9905 | €20,710 | €34,674 | +€13,964 | +67.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.