ERSA Groupe: 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.
ERSA Groupe
Largest movements
- Cash -€60,947
down €60,947 (-56.5%), from €107,939 to €46,992
mainly Net result for the year (-€75,893) and Trade debts (-€73,836)
- Tangible fixed assets -€34,894
down €34,894 (-8.1%), from €432,192 to €397,298
- Receivables within one year -€18,471
down €18,471 (-72.2%), from €25,568 to €7,097
of which Other amounts receivable: -€15,941
- Stocks and contracts +€12,258
up €12,258 (+12.8%), from €95,517 to €107,775
- Deferred charges and accrued income +€6,832
up €6,832 (+41.8%), from €16,327 to €23,159
- Investment grants +€93,455
new in 2025: €93,455
- Profit (loss) carried forward -€75,893
down €75,893 (-228%), from -€33,333 to -€109,226
- Trade debts -€73,836
down €73,836 (-32.4%), from €227,678 to €153,842
- Debts after one year -€50,022
down €50,022 (-11.9%), from €419,723 to €369,701
- Current portion of long-term debt +€13,104
up €13,104 (+35.5%), from €36,918 to €50,022
- Gross operating margin +€164,979
up €164,979 (+468%), from €35,243 to €200,222
- Staff costs +€155,347
up €155,347 (+441%), from €35,253 to €190,600
- Depreciation +€30,899
up €30,899 (+165%), from €18,703 to €49,602
- Financial charges +€20,461
up €20,461 (+143%), from €14,324 to €34,784
- Other operating charges +€4,423
up €4,423 (+639%), from €692 to €5,115
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 | €677,817 | €582,594 | -€95,223 | -14.0% |
| Fixed assets | 21/28 | €432,465 | €397,571 | -€34,894 | -8.1% |
| Tangible fixed assets | 22/27 | €432,192 | €397,298 | -€34,894 | -8.1% |
| Plant, machinery and equipment | 23 | €198,228 | €181,050 | -€17,177 | -8.7% |
| Furniture and vehicles | 24 | €102,428 | €98,196 | -€4,233 | -4.1% |
| Other tangible fixed assets | 26 | €131,536 | €118,052 | -€13,485 | -10.3% |
| Financial fixed assets | 28 | €273 | €273 | = | 0.0% |
| Current assets | 29/58 | €245,352 | €185,023 | -€60,329 | -24.6% |
| Stocks and contracts in progress | 3 | €95,517 | €107,775 | +€12,258 | +12.8% |
| Stocks | 30/36 | €95,517 | €107,775 | +€12,258 | +12.8% |
| Amounts receivable within one year | 40/41 | €25,568 | €7,097 | -€18,471 | -72.2% |
| Trade receivables | 40 | €2,531 | €0 | -€2,531 | -100% |
| Other amounts receivable | 41 | €23,038 | €7,097 | -€15,941 | -69.2% |
| Cash at bank and in hand | 54/58 | €107,939 | €46,992 | -€60,947 | -56.5% |
| Deferred charges and accrued income | 490/1 | €16,327 | €23,159 | +€6,832 | +41.8% |
| Total equity and liabilities | 10/49 | €677,817 | €582,594 | -€95,223 | -14.0% |
| Equity | 10/15 | -€23,333 | -€5,771 | +€17,561 | +75.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€33,333 | -€109,226 | -€75,893 | -228% |
| Investment grants | 15 | - | €93,455 | +€93,455 | |
| Amounts payable | 17/49 | €701,150 | €588,366 | -€112,785 | -16.1% |
| Amounts payable after more than one year | 17 | €419,723 | €369,701 | -€50,022 | -11.9% |
| Financial debts | 170/4 | €419,723 | €369,701 | -€50,022 | -11.9% |
| Amounts payable within one year | 42/48 | €281,427 | €218,664 | -€62,763 | -22.3% |
| Current portion of amounts payable after more than one year | 42 | €36,918 | €50,022 | +€13,104 | +35.5% |
| Trade debts | 44 | €227,678 | €153,842 | -€73,836 | -32.4% |
| Suppliers | 440/4 | €227,678 | €153,842 | -€73,836 | -32.4% |
| Taxes, remuneration and social security | 45 | €16,831 | €14,800 | -€2,031 | -12.1% |
| Taxes | 450/3 | €1,478 | €2,448 | +€970 | +65.6% |
| Remuneration and social security | 454/9 | €15,353 | €12,352 | -€3,000 | -19.5% |
| Remuneration, social security and pensions | 62 | €35,253 | €190,600 | +€155,347 | +441% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,703 | €49,602 | +€30,899 | +165% |
| Other operating charges | 640/8 | €692 | €5,115 | +€4,423 | +639% |
| Gross operating margin | 9900 | €35,243 | €200,222 | +€164,979 | +468% |
| Operating profit (loss) | 9901 | -€19,405 | -€45,095 | -€25,689 | -132% |
| Financial income | 75/76B | €417 | €4,133 | +€3,716 | +892% |
| Recurring financial income | 75 | €417 | €4,133 | +€3,716 | +892% |
| Financial charges | 65/66B | €14,324 | €34,784 | +€20,461 | +143% |
| Recurring financial charges | 65 | €14,324 | €34,784 | +€20,461 | +143% |
| Profit (loss) for the period before taxes | 9903 | -€33,312 | -€75,746 | -€42,433 | -127% |
| Income taxes | 67/77 | €20 | €147 | +€127 | +623% |
| Profit (loss) for the period | 9904 | -€33,333 | -€75,893 | -€42,560 | -128% |
| Profit (loss) for the period to be appropriated | 9905 | -€33,333 | -€75,893 | -€42,560 | -128% |
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 29 October 2026 via checked.be.