ERPIM: what changed
Two fiscal 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.
ERPIM
Largest movements
- Receivables within one year -€289,815
down €289,815 (-99.9%), from €290,000 to €185
- Tangible fixed assets +€250,567
up €250,567 (+22446.8%), from €1,116 to €251,683
of which Land and buildings: +€244,969
- Stocks and contracts -€205,617
no longer reported in 2025 (was €205,617)
- Short-term financial debts -€366,155
no longer reported in 2025 (was €366,155)
- Debts after one year +€90,639
new in 2025: €90,639
of which Financial debts: +€88,889
- Other debts +€65,226
up €65,226 (+119.8%), from €54,432 to €119,658
- Profit (loss) carried forward -€21,817
down €21,817 (-84.5%), from -€25,811 to -€47,628
- Trade debts -€12,385
no longer reported in 2025 (was €12,385)
- Gross operating margin -€35,596
down €35,596, from €31,126 to -€4,470
- Financial charges -€9,972
down €9,972 (-53.2%), from €18,732 to €8,760
- Depreciation +€7,286
up €7,286 (+1355.5%), from €538 to €7,824
- Taxes -€920
down €920 (-88.2%), from €1,043 to €123
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 | €500,074 | €255,671 | -€244,402 | -48.9% |
| Fixed assets | 21/28 | €1,116 | €251,683 | +€250,567 | +22446.8% |
| Tangible fixed assets | 22/27 | €1,116 | €251,683 | +€250,567 | +22446.8% |
| Land and buildings | 22 | - | €244,969 | +€244,969 | |
| Furniture and vehicles | 24 | €1,116 | €6,714 | +€5,598 | +501.5% |
| Current assets | 29/58 | €498,958 | €3,988 | -€494,969 | -99.2% |
| Stocks and contracts in progress | 3 | €205,617 | - | -€205,617 | |
| Stocks | 30/36 | €205,617 | - | -€205,617 | |
| Amounts receivable within one year | 40/41 | €290,000 | €185 | -€289,815 | -99.9% |
| Other amounts receivable | 41 | €290,000 | €185 | -€289,815 | -99.9% |
| Cash at bank and in hand | 54/58 | €3,341 | €3,589 | +€248 | +7.4% |
| Deferred charges and accrued income | 490/1 | - | €215 | +€215 | |
| Total equity and liabilities | 10/49 | €500,074 | €255,671 | -€244,402 | -48.9% |
| Equity | 10/15 | €58,219 | €36,402 | -€21,817 | -37.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €65,430 | €65,430 | = | 0.0% |
| Distributable reserves | 133 | €65,430 | €65,430 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€25,811 | -€47,628 | -€21,817 | -84.5% |
| Amounts payable | 17/49 | €441,855 | €219,270 | -€222,586 | -50.4% |
| Amounts payable after more than one year | 17 | - | €90,639 | +€90,639 | |
| Financial debts | 170/4 | - | €88,889 | +€88,889 | |
| Other amounts payable | 178/9 | - | €1,750 | +€1,750 | |
| Amounts payable within one year | 42/48 | €434,492 | €127,731 | -€306,761 | -70.6% |
| Current portion of amounts payable after more than one year | 42 | - | €6,667 | +€6,667 | |
| Financial debts | 43 | €366,155 | - | -€366,155 | |
| Credit institutions | 430/8 | €366,155 | - | -€366,155 | |
| Trade debts | 44 | €12,385 | - | -€12,385 | |
| Suppliers | 440/4 | €12,385 | - | -€12,385 | |
| Taxes, remuneration and social security | 45 | €1,519 | €1,406 | -€113 | -7.4% |
| Taxes | 450/3 | €1,519 | €1,406 | -€113 | -7.4% |
| Other amounts payable | 47/48 | €54,432 | €119,658 | +€65,226 | +119.8% |
| Accrued charges and deferred income | 492/3 | €7,363 | €900 | -€6,463 | -87.8% |
| Non-recurring operating income | 76A | €1,153 | - | -€1,153 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €538 | €7,824 | +€7,286 | +1355.5% |
| Other operating charges | 640/8 | €387 | €641 | +€254 | +65.5% |
| Gross operating margin | 9900 | €31,126 | -€4,470 | -€35,596 | |
| Operating profit (loss) | 9901 | €30,201 | -€12,935 | -€43,135 | |
| Financial charges | 65/66B | €18,732 | €8,760 | -€9,972 | -53.2% |
| Recurring financial charges | 65 | €18,732 | €8,760 | -€9,972 | -53.2% |
| Profit (loss) for the period before taxes | 9903 | €11,469 | -€21,694 | -€33,163 | |
| Income taxes | 67/77 | €1,043 | €123 | -€920 | -88.2% |
| Profit (loss) for the period | 9904 | €10,426 | -€21,817 | -€32,243 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,426 | -€21,817 | -€32,243 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.