ERTA TRANS: 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.
ERTA TRANS
Largest movements
- Tangible fixed assets -€23,364
down €23,364 (-20.1%), from €116,120 to €92,756
of which Leasing and similar rights: -€22,600
- Receivables within one year -€22,980
down €22,980 (-30.3%), from €75,918 to €52,938
of which Other amounts receivable: -€16,735
- Cash +€7,269
up €7,269 (+229.4%), from €3,169 to €10,438
mainly Depreciation (+€41,537) and Current portion of long-term debt (+€24,324)
- Debts after one year -€45,193
down €45,193 (-52.4%), from €86,309 to €41,116
- Current portion of long-term debt +€24,324
up €24,324 (+116.6%), from €20,868 to €45,192
- Trade debts -€21,149
down €21,149 (-83.9%), from €25,196 to €4,047
- Reserves -€10,733
down €10,733 (-37.6%), from €28,530 to €17,797
of which Distributable reserves: -€10,733
- Profit (loss) carried forward +€6,668
up €6,668 (+46.5%), from €14,341 to €21,009
- Purchases and services +€24,504
up €24,504 (+20.2%), from €121,190 to €145,694
- Depreciation +€16,521
up €16,521 (+66.0%), from €25,016 to €41,537
- Turnover +€13,983
up €13,983 (+9.1%), from €153,061 to €167,044
- Gross operating margin +€6,414
up €6,414 (+15.0%), from €42,642 to €49,056
- Financial income +€3,532
new in 2025: €3,532
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 | €196,706 | €156,131 | -€40,575 | -20.6% |
| Fixed assets | 21/28 | €116,120 | €92,756 | -€23,364 | -20.1% |
| Tangible fixed assets | 22/27 | €116,120 | €92,756 | -€23,364 | -20.1% |
| Furniture and vehicles | 24 | €40,787 | €28,509 | -€12,277 | -30.1% |
| Leasing and similar rights | 25 | €75,333 | €52,733 | -€22,600 | -30.0% |
| Other tangible fixed assets | 26 | - | €11,513 | +€11,513 | |
| Current assets | 29/58 | €80,586 | €63,376 | -€17,211 | -21.4% |
| Amounts receivable within one year | 40/41 | €75,918 | €52,938 | -€22,980 | -30.3% |
| Trade receivables | 40 | €23,884 | €17,639 | -€6,245 | -26.1% |
| Other amounts receivable | 41 | €52,035 | €35,299 | -€16,735 | -32.2% |
| Cash at bank and in hand | 54/58 | €3,169 | €10,438 | +€7,269 | +229.4% |
| Deferred charges and accrued income | 490/1 | €1,499 | - | -€1,499 | |
| Total equity and liabilities | 10/49 | €196,706 | €156,131 | -€40,575 | -20.6% |
| Equity | 10/15 | €62,871 | €58,806 | -€4,064 | -6.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Capital | 10 | €20,000 | €20,000 | = | 0.0% |
| Issued capital | 100 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €28,530 | €17,797 | -€10,733 | -37.6% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Legal reserve | 130 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €26,530 | €15,797 | -€10,733 | -40.5% |
| Profit (loss) carried forward | 14 | €14,341 | €21,009 | +€6,668 | +46.5% |
| Amounts payable | 17/49 | €133,836 | €97,325 | -€36,510 | -27.3% |
| Amounts payable after more than one year | 17 | €86,309 | €41,116 | -€45,193 | -52.4% |
| Financial debts | 170/4 | €86,309 | €41,116 | -€45,193 | -52.4% |
| Amounts payable within one year | 42/48 | €47,526 | €56,209 | +€8,683 | +18.3% |
| Current portion of amounts payable after more than one year | 42 | €20,868 | €45,192 | +€24,324 | +116.6% |
| Trade debts | 44 | €25,196 | €4,047 | -€21,149 | -83.9% |
| Suppliers | 440/4 | €25,196 | €4,047 | -€21,149 | -83.9% |
| Taxes, remuneration and social security | 45 | €1,462 | €6,970 | +€5,508 | +376.6% |
| Taxes | 450/3 | €1,462 | €6,970 | +€5,508 | +376.6% |
| Turnover | 70 | €153,061 | €167,044 | +€13,983 | +9.1% |
| Non-recurring operating income | 76A | €10,771 | €27,706 | +€16,935 | +157.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €121,190 | €145,694 | +€24,504 | +20.2% |
| Remuneration, social security and pensions | 62 | - | €1,080 | +€1,080 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,016 | €41,537 | +€16,521 | +66.0% |
| Other operating charges | 640/8 | €2,034 | €5,187 | +€3,154 | +155.1% |
| Gross operating margin | 9900 | €42,642 | €49,056 | +€6,414 | +15.0% |
| Operating profit (loss) | 9901 | €15,592 | €1,251 | -€14,341 | -92.0% |
| Financial income | 75/76B | - | €3,532 | +€3,532 | |
| Recurring financial income | 75 | - | €3,532 | +€3,532 | |
| Financial charges | 65/66B | €1,233 | €2,809 | +€1,575 | +127.8% |
| Recurring financial charges | 65 | €1,233 | €2,809 | +€1,575 | +127.8% |
| Profit (loss) for the period before taxes | 9903 | €14,358 | €1,975 | -€12,384 | -86.2% |
| Profit (loss) for the period | 9904 | €14,358 | €1,975 | -€12,384 | -86.2% |
| Profit (loss) for the period to be appropriated | 9905 | €14,358 | €1,975 | -€12,384 | -86.2% |
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 10 October 2026 via checked.be.