ERTAS: 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.
ERTAS
Largest movements
- Cash -€38,893
down €38,893 (-71.8%), from €54,133 to €15,240
mainly Net result for the year (-€53,756) and Debts after one year (-€29,035)
- Receivables within one year -€22,195
down €22,195 (-25.7%), from €86,346 to €64,151
of which Trade receivables: -€17,976
- Tangible fixed assets -€13,640
down €13,640 (-11.5%), from €118,349 to €104,709
of which Furniture and vehicles: -€9,967
- Profit (loss) carried forward -€53,756
down €53,756 (-65.6%), from €81,911 to €28,155
- Trade debts +€35,493
up €35,493 (+104%), from €33,987 to €69,480
- Debts after one year -€29,035
down €29,035 (-39.2%), from €74,111 to €45,075
of which Other amounts payable: -€39,000
- Tax, wage and social debts -€17,784
down €17,784 (-28.4%), from €62,661 to €44,877
of which Taxes: -€16,881
- Other debts -€8,746
no longer reported in 2025 (was €8,746)
- Gross operating margin -€78,146
down €78,146 (-26.3%), from €297,381 to €219,235
- Purchases and services +€74,881
up €74,881 (+21.1%), from €355,404 to €430,284
- Turnover -€32,101
down €32,101 (-4.9%), from €652,785 to €620,684
- Staff costs -€12,236
down €12,236 (-5.6%), from €217,213 to €204,977
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €309,696 | €235,468 | -€74,228 | -24.0% |
| Fixed assets | 21/28 | €169,217 | €156,078 | -€13,140 | -7.8% |
| Tangible fixed assets | 22/27 | €118,349 | €104,709 | -€13,640 | -11.5% |
| Furniture and vehicles | 24 | €108,547 | €98,580 | -€9,967 | -9.2% |
| Other tangible fixed assets | 26 | €9,802 | €6,129 | -€3,673 | -37.5% |
| Financial fixed assets | 28 | €50,869 | €51,369 | +€500 | +1.0% |
| Current assets | 29/58 | €140,479 | €79,390 | -€61,089 | -43.5% |
| Amounts receivable within one year | 40/41 | €86,346 | €64,151 | -€22,195 | -25.7% |
| Trade receivables | 40 | €77,205 | €59,229 | -€17,976 | -23.3% |
| Other amounts receivable | 41 | €9,141 | €4,921 | -€4,219 | -46.2% |
| Cash at bank and in hand | 54/58 | €54,133 | €15,240 | -€38,893 | -71.8% |
| Total equity and liabilities | 10/49 | €309,696 | €235,468 | -€74,228 | -24.0% |
| Equity | 10/15 | €102,371 | €48,615 | -€53,756 | -52.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Share premium | 1100/10 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €81,911 | €28,155 | -€53,756 | -65.6% |
| Amounts payable | 17/49 | €207,326 | €186,854 | -€20,472 | -9.9% |
| Amounts payable after more than one year | 17 | €74,111 | €45,075 | -€29,035 | -39.2% |
| Financial debts | 170/4 | €35,111 | €45,075 | +€9,965 | +28.4% |
| Other amounts payable | 178/9 | €39,000 | - | -€39,000 | |
| Amounts payable within one year | 42/48 | €133,215 | €141,778 | +€8,563 | +6.4% |
| Current portion of amounts payable after more than one year | 42 | €27,821 | €27,421 | -€400 | -1.4% |
| Trade debts | 44 | €33,987 | €69,480 | +€35,493 | +104% |
| Suppliers | 440/4 | €33,987 | €69,480 | +€35,493 | +104% |
| Taxes, remuneration and social security | 45 | €62,661 | €44,877 | -€17,784 | -28.4% |
| Taxes | 450/3 | €36,172 | €19,291 | -€16,881 | -46.7% |
| Remuneration and social security | 454/9 | €26,489 | €25,586 | -€903 | -3.4% |
| Other amounts payable | 47/48 | €8,746 | - | -€8,746 | |
| Turnover | 70 | €652,785 | €620,684 | -€32,101 | -4.9% |
| Non-recurring operating income | 76A | - | €23,777 | +€23,777 | |
| Goods, raw materials, services and sundry goods | 60/61 | €355,404 | €430,284 | +€74,881 | +21.1% |
| Remuneration, social security and pensions | 62 | €217,213 | €204,977 | -€12,236 | -5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,914 | €39,700 | +€1,786 | +4.7% |
| Other operating charges | 640/8 | €11,857 | €13,849 | +€1,992 | +16.8% |
| Non-recurring operating charges | 66A | - | €1,654 | +€1,654 | |
| Gross operating margin | 9900 | €297,381 | €219,235 | -€78,146 | -26.3% |
| Operating profit (loss) | 9901 | €30,397 | -€40,945 | -€71,342 | |
| Financial income | 75/76B | €3,134 | €1,546 | -€1,588 | -50.7% |
| Recurring financial income | 75 | €84 | €1 | -€84 | -99.3% |
| Non-recurring financial income | 76B | €3,050 | €1,545 | -€1,504 | -49.3% |
| Financial charges | 65/66B | €6,691 | €3,311 | -€3,380 | -50.5% |
| Recurring financial charges | 65 | €2,626 | €3,311 | +€685 | +26.1% |
| Non-recurring financial charges | 66B | €4,065 | - | -€4,065 | |
| Profit (loss) for the period before taxes | 9903 | €26,840 | -€42,710 | -€69,550 | |
| Income taxes | 67/77 | €5,287 | €11,046 | +€5,760 | +109% |
| Profit (loss) for the period | 9904 | €21,554 | -€53,756 | -€75,310 | |
| Profit (loss) for the period to be appropriated | 9905 | €21,554 | -€53,756 | -€75,310 |
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 14 October 2026 via checked.be.