ERSTIMMO: 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.
ERSTIMMO
Largest movements
- Cash -€231,966
down €231,966 (-95.8%), from €242,249 to €10,284
mainly Debts after one year (-€131,929) and Contributions, distributions and other (-€90,815)
- Tangible fixed assets -€82,035
down €82,035 (-20.7%), from €396,865 to €314,830
of which Furniture and vehicles: -€69,864
- Receivables within one year -€44,298
down €44,298 (-98.4%), from €45,029 to €731
of which Trade receivables: -€44,236
- Debts after one year -€131,929
down €131,929 (-67.1%), from €196,471 to €64,541
- Reserves -€80,891
down €80,891 (-88.3%), from €91,600 to €10,709
of which Distributable reserves: -€65,000
- Trade debts -€77,663
down €77,663 (-78.1%), from €99,443 to €21,780
- Tax, wage and social debts -€55,251
down €55,251 (-94.4%), from €58,524 to €3,273
of which Taxes: -€27,724
- Other debts +€43,020
up €43,020 (+47.0%), from €91,520 to €134,540
- Gross operating margin -€418,086
down €418,086 (-94.2%), from €443,626 to €25,541
- Staff costs -€178,300
no longer reported in 2025 (was €178,300)
- Other operating charges -€13,609
down €13,609 (-57.0%), from €23,868 to €10,259
- Depreciation -€11,074
down €11,074 (-34.5%), from €32,110 to €21,036
- Financial charges -€9,062
down €9,062 (-76.2%), from €11,893 to €2,832
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 | €691,579 | €325,845 | -€365,734 | -52.9% |
| Fixed assets | 21/28 | €399,146 | €314,830 | -€84,315 | -21.1% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €396,865 | €314,830 | -€82,035 | -20.7% |
| Land and buildings | 22 | €226,754 | €228,042 | +€1,288 | +0.6% |
| Plant, machinery and equipment | 23 | €91,864 | €86,788 | -€5,076 | -5.5% |
| Furniture and vehicles | 24 | €69,864 | - | -€69,864 | |
| Other tangible fixed assets | 26 | €8,383 | - | -€8,383 | |
| Financial fixed assets | 28 | €2,281 | - | -€2,281 | |
| Current assets | 29/58 | €292,434 | €11,015 | -€281,419 | -96.2% |
| Amounts receivable within one year | 40/41 | €45,029 | €731 | -€44,298 | -98.4% |
| Trade receivables | 40 | €44,967 | €731 | -€44,236 | -98.4% |
| Other amounts receivable | 41 | €62 | - | -€62 | |
| Cash at bank and in hand | 54/58 | €242,249 | €10,284 | -€231,966 | -95.8% |
| Deferred charges and accrued income | 490/1 | €5,156 | - | -€5,156 | |
| Total equity and liabilities | 10/49 | €691,579 | €325,845 | -€365,734 | -52.9% |
| Equity | 10/15 | €170,916 | €68,242 | -€102,674 | -60.1% |
| Contributions | 10/11 | €76,000 | €65,633 | -€10,367 | -13.6% |
| Capital | 10 | €76,000 | €65,633 | -€10,367 | -13.6% |
| Issued capital | 100 | €76,000 | €65,633 | -€10,367 | -13.6% |
| Reserves | 13 | €91,600 | €10,709 | -€80,891 | -88.3% |
| Non-distributable reserves | 130/1 | €12,400 | €10,709 | -€1,691 | -13.6% |
| Legal reserve | 130 | €12,400 | €10,709 | -€1,691 | -13.6% |
| Tax-exempt reserves | 132 | €14,200 | - | -€14,200 | |
| Distributable reserves | 133 | €65,000 | €0 | -€65,000 | -100.0% |
| Profit (loss) carried forward | 14 | €3,316 | -€8,099 | -€11,415 | |
| Amounts payable | 17/49 | €520,664 | €257,603 | -€263,061 | -50.5% |
| Amounts payable after more than one year | 17 | €196,471 | €64,541 | -€131,929 | -67.1% |
| Financial debts | 170/4 | €196,471 | €64,541 | -€131,929 | -67.1% |
| Amounts payable within one year | 42/48 | €322,421 | €192,951 | -€129,470 | -40.2% |
| Current portion of amounts payable after more than one year | 42 | €72,934 | €33,358 | -€39,576 | -54.3% |
| Trade debts | 44 | €99,443 | €21,780 | -€77,663 | -78.1% |
| Suppliers | 440/4 | €99,443 | €21,780 | -€77,663 | -78.1% |
| Taxes, remuneration and social security | 45 | €58,524 | €3,273 | -€55,251 | -94.4% |
| Taxes | 450/3 | €30,997 | €3,273 | -€27,724 | -89.4% |
| Remuneration and social security | 454/9 | €27,527 | - | -€27,527 | |
| Other amounts payable | 47/48 | €91,520 | €134,540 | +€43,020 | +47.0% |
| Accrued charges and deferred income | 492/3 | €1,773 | €111 | -€1,662 | -93.7% |
| Remuneration, social security and pensions | 62 | €178,300 | - | -€178,300 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,110 | €21,036 | -€11,074 | -34.5% |
| Other operating charges | 640/8 | €23,868 | €10,259 | -€13,609 | -57.0% |
| Operating charges capitalised as restructuring costs | 649 | €0 | - | = | |
| Gross operating margin | 9900 | €443,626 | €25,541 | -€418,086 | -94.2% |
| Operating profit (loss) | 9901 | €209,348 | -€5,755 | -€215,103 | |
| Financial income | 75/76B | €321 | - | -€321 | |
| Recurring financial income | 75 | €321 | - | -€321 | |
| Financial charges | 65/66B | €11,893 | €2,832 | -€9,062 | -76.2% |
| Recurring financial charges | 65 | €11,893 | €2,832 | -€9,062 | -76.2% |
| Profit (loss) for the period before taxes | 9903 | €197,776 | -€8,586 | -€206,362 | |
| Income taxes | 67/77 | €9,315 | €3,273 | -€6,042 | -64.9% |
| Profit (loss) for the period | 9904 | €188,461 | -€11,859 | -€200,320 | |
| Transfer from tax-exempt reserves | 789 | - | €12,263 | +€12,263 | |
| Profit (loss) for the period to be appropriated | 9905 | €188,461 | €404 | -€188,057 | -99.8% |
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 30 September 2026 via checked.be.