ERRO HEATING: what changed
What changed
ERRO HEATING
NACE 43.222, Installation of electric heating, air conditioning, cooling and ventilation
filed annual accounts (NBB)
Net result for the year
-€2.5m
2024 · €13,176-€2.5m
Equity
-€718,627
2024 · €1.8m-€2.5m
Cash
€42,123
2024 · €208,138-€166,015
Balance sheet total
€5.7m
2024 · €6.2m-€546,670
Largest movements
Assets
- Receivables within one year -€307,831
down €307,831 (-19.3%), from €1.6m to €1.3m
of which Trade receivables: -€369,499
- Cash -€166,015
down €166,015 (-79.8%), from €208,138 to €42,123
mainly Net result for the year (-€2.5m) and Debts after one year (-€110,230)
Equity and liabilities
- Profit (loss) carried forward -€2.5m
down €2.5m, from €369,780 to -€2.1m
- Trade debts +€1.5m
up €1.5m (+96.3%), from €1.5m to €3.0m
- Other debts +€476,000
up €476,000, from €0 to €476,000
- Short-term financial debts +€224,208
up €224,208 (+12.0%), from €1.9m to €2.1m
- Debts after one year -€110,230
down €110,230 (-18.1%), from €610,024 to €499,794
Income statement
- Gross operating margin -€2.4m
down €2.4m, from €1.9m to -€578,350
- Staff costs +€115,976
up €115,976 (+7.3%), from €1.6m to €1.7m
- Taxes -€22,320
down €22,320 (-94.1%), from €23,713 to €1,393
- Financial charges -€21,180
down €21,180 (-13.3%), from €158,927 to €137,748
- Other operating charges +€19,171
up €19,171 (+116%), from €16,472 to €35,643
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€13,176
Gross operating margin
-€2.4m
Staff costs
-€115,976
Depreciation
-€1,750
Other operating charges
-€19,171
Financial income
+€9,096
Financial charges
+€21,180
Taxes
+€22,320
Result 2025
-€2.5m
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€168,939
Investment
-€28,938
Financing
+€31,862
Cash 2024
€208,138
From operations (derived)
-€168,939
Net result for the year
-€2.5m
Depreciation
+€74,593
Stocks and contracts
+€27,169
Receivables within one year
+€307,831
Trade debts
+€1.5m
Tax, wage and social debts
-€25,664
Other debts
+€476,000
Investment (derived)
-€28,938
Investment in fixed assets (net)
-€28,938
Financing
+€31,862
Debts after one year
-€110,230
Current portion of long-term debt
-€82,116
Short-term financial debts
+€224,208
Cash 2025
€42,123
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,231,241 | €5,684,571 | -€546,670 | -8.8% |
| Fixed assets | 21/28 | €209,561 | €163,906 | -€45,655 | -21.8% |
| Tangible fixed assets | 22/27 | €206,402 | €160,747 | -€45,655 | -22.1% |
| Plant, machinery and equipment | 23 | €56,894 | €22,749 | -€34,145 | -60.0% |
| Furniture and vehicles | 24 | €121,718 | €104,635 | -€17,083 | -14.0% |
| Leasing and similar rights | 25 | €23,435 | €17,223 | -€6,212 | -26.5% |
| Other tangible fixed assets | 26 | €4,355 | €16,141 | +€11,786 | +271% |
| Financial fixed assets | 28 | €3,159 | €3,159 | = | 0.0% |
| Current assets | 29/58 | €6,021,680 | €5,520,665 | -€501,015 | -8.3% |
| Stocks and contracts in progress | 3 | €4,216,373 | €4,189,204 | -€27,169 | -0.6% |
| Stocks | 30/36 | €2,341,657 | €2,286,412 | -€55,245 | -2.4% |
| Contracts in progress | 37 | €1,874,716 | €1,902,792 | +€28,076 | +1.5% |
| Amounts receivable within one year | 40/41 | €1,597,168 | €1,289,336 | -€307,831 | -19.3% |
| Trade receivables | 40 | €1,479,775 | €1,110,277 | -€369,499 | -25.0% |
| Other amounts receivable | 41 | €117,392 | €179,060 | +€61,668 | +52.5% |
| Current investments | 50/53 | €1 | €1 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €208,138 | €42,123 | -€166,015 | -79.8% |
| Total equity and liabilities | 10/49 | €6,231,241 | €5,684,571 | -€546,670 | -8.8% |
| Equity | 10/15 | €1,799,780 | -€718,627 | -€2.5m | |
| Contributions | 10/11 | €1,300,000 | €1,300,000 | = | 0.0% |
| Capital | 10 | €1,300,000 | €1,300,000 | = | 0.0% |
| Issued capital | 100 | €1,300,000 | €1,300,000 | = | 0.0% |
| Reserves | 13 | €130,000 | €130,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €130,000 | €130,000 | = | 0.0% |
| Legal reserve | 130 | €130,000 | €130,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €369,780 | -€2,148,627 | -€2.5m | |
| Amounts payable | 17/49 | €4,431,461 | €6,403,198 | +€2.0m | +44.5% |
| Amounts payable after more than one year | 17 | €610,024 | €499,794 | -€110,230 | -18.1% |
| Financial debts | 170/4 | €610,024 | €499,794 | -€110,230 | -18.1% |
| Amounts payable within one year | 42/48 | €3,821,437 | €5,903,404 | +€2.1m | +54.5% |
| Current portion of amounts payable after more than one year | 42 | €208,672 | €126,555 | -€82,116 | -39.4% |
| Financial debts | 43 | €1,869,773 | €2,093,981 | +€224,208 | +12.0% |
| Credit institutions | 430/8 | €1,869,773 | €2,093,981 | +€224,208 | +12.0% |
| Trade debts | 44 | €1,546,670 | €3,036,210 | +€1.5m | +96.3% |
| Suppliers | 440/4 | €1,546,670 | €3,036,210 | +€1.5m | +96.3% |
| Taxes, remuneration and social security | 45 | €196,322 | €170,658 | -€25,664 | -13.1% |
| Taxes | 450/3 | €17,492 | €16,109 | -€1,383 | -7.9% |
| Remuneration and social security | 454/9 | €178,830 | €154,549 | -€24,281 | -13.6% |
| Other amounts payable | 47/48 | €0 | €476,000 | +€476,000 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €1,594,215 | €1,710,191 | +€115,976 | +7.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,843 | €74,593 | +€1,750 | +2.4% |
| Other operating charges | 640/8 | €16,472 | €35,643 | +€19,171 | +116% |
| Gross operating margin | 9900 | €1,868,931 | -€578,350 | -€2.4m | |
| Operating profit (loss) | 9901 | €185,403 | -€2,398,776 | -€2.6m | |
| Financial income | 75/76B | €10,414 | €19,510 | +€9,096 | +87.3% |
| Recurring financial income | 75 | €10,414 | €19,510 | +€9,096 | +87.3% |
| Financial charges | 65/66B | €158,927 | €137,748 | -€21,180 | -13.3% |
| Recurring financial charges | 65 | €158,927 | €137,748 | -€21,180 | -13.3% |
| Profit (loss) for the period before taxes | 9903 | €36,889 | -€2,517,014 | -€2.6m | |
| Income taxes | 67/77 | €23,713 | €1,393 | -€22,320 | -94.1% |
| Profit (loss) for the period | 9904 | €13,176 | -€2,518,407 | -€2.5m | |
| Profit (loss) for the period to be appropriated | 9905 | €13,176 | -€2,518,407 | -€2.5m |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.