ERTASOX: 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.
ERTASOX
Largest movements
- Receivables within one year +€37,850
up €37,850 (+24.7%), from €153,537 to €191,387
of which Other amounts receivable: +€28,415
- Tangible fixed assets +€21,967
up €21,967 (+54.4%), from €40,382 to €62,349
of which Furniture and vehicles: +€27,048
- Cash -€11,299
down €11,299 (-73.4%), from €15,399 to €4,100
mainly Receivables within one year (-€37,850) and Investment in fixed assets (net) (-€31,000)
- Reserves +€36,862
up €36,862 (+83.1%), from €44,363 to €81,225
- Trade debts -€17,308
down €17,308 (-25.3%), from €68,397 to €51,089
- Debts after one year +€17,056
up €17,056 (+313%), from €5,452 to €22,509
- Accrued charges and deferred income +€15,000
new in 2025: €15,000
- Short-term financial debts +€3,174
up €3,174 (+43.7%), from €7,270 to €10,444
- Gross operating margin +€30,260
up €30,260 (+62.3%), from €48,567 to €78,827
- Write-downs +€16,489
new in 2025: €16,489
- Financial charges +€10,300
up €10,300 (+1,009%), from €1,021 to €11,321
of which Non-recurring financial charges: +€6,692
- Taxes +€5,998
up €5,998 (+106%), from €5,669 to €11,667
- Financial income +€5,201
up €5,201 (+346%), from €1,504 to €6,705
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 | €209,516 | €258,035 | +€48,518 | +23.2% |
| Fixed assets | 21/28 | €40,580 | €62,547 | +€21,967 | +54.1% |
| Tangible fixed assets | 22/27 | €40,382 | €62,349 | +€21,967 | +54.4% |
| Land and buildings | 22 | €39,153 | €35,011 | -€4,142 | -10.6% |
| Plant, machinery and equipment | 23 | €1,229 | €290 | -€939 | -76.4% |
| Furniture and vehicles | 24 | - | €27,048 | +€27,048 | |
| Financial fixed assets | 28 | €198 | €198 | = | 0.0% |
| Current assets | 29/58 | €168,936 | €195,488 | +€26,551 | +15.7% |
| Amounts receivable within one year | 40/41 | €153,537 | €191,387 | +€37,850 | +24.7% |
| Trade receivables | 40 | €72,933 | €82,368 | +€9,435 | +12.9% |
| Other amounts receivable | 41 | €80,604 | €109,019 | +€28,415 | +35.3% |
| Cash at bank and in hand | 54/58 | €15,399 | €4,100 | -€11,299 | -73.4% |
| Total equity and liabilities | 10/49 | €209,516 | €258,035 | +€48,518 | +23.2% |
| Equity | 10/15 | €117,166 | €154,028 | +€36,862 | +31.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €44,363 | €81,225 | +€36,862 | +83.1% |
| Distributable reserves | 133 | €44,363 | €81,225 | +€36,862 | +83.1% |
| Profit (loss) carried forward | 14 | €52,803 | €52,803 | = | 0.0% |
| Amounts payable | 17/49 | €92,351 | €104,007 | +€11,656 | +12.6% |
| Amounts payable after more than one year | 17 | €5,452 | €22,509 | +€17,056 | +313% |
| Financial debts | 170/4 | €5,452 | €22,509 | +€17,056 | +313% |
| Amounts payable within one year | 42/48 | €86,899 | €66,498 | -€20,400 | -23.5% |
| Financial debts | 43 | €7,270 | €10,444 | +€3,174 | +43.7% |
| Credit institutions | 430/8 | €7,270 | €10,444 | +€3,174 | +43.7% |
| Trade debts | 44 | €68,397 | €51,089 | -€17,308 | -25.3% |
| Suppliers | 440/4 | €68,397 | €51,089 | -€17,308 | -25.3% |
| Advances received on contracts in progress | 46 | €3,158 | - | -€3,158 | |
| Taxes, remuneration and social security | 45 | €8,075 | €4,966 | -€3,109 | -38.5% |
| Taxes | 450/3 | €8,075 | €4,966 | -€3,109 | -38.5% |
| Accrued charges and deferred income | 492/3 | - | €15,000 | +€15,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,834 | €9,033 | +€1,200 | +15.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €16,489 | +€16,489 | |
| Other operating charges | 640/8 | €716 | €160 | -€556 | -77.7% |
| Gross operating margin | 9900 | €48,567 | €78,827 | +€30,260 | +62.3% |
| Operating profit (loss) | 9901 | €40,018 | €53,145 | +€13,127 | +32.8% |
| Financial income | 75/76B | €1,504 | €6,705 | +€5,201 | +346% |
| Recurring financial income | 75 | €1,504 | €6,705 | +€5,201 | +346% |
| Financial charges | 65/66B | €1,021 | €11,321 | +€10,300 | +1,009% |
| Recurring financial charges | 65 | €1,021 | €4,630 | +€3,608 | +353% |
| Non-recurring financial charges | 66B | - | €6,692 | +€6,692 | |
| Profit (loss) for the period before taxes | 9903 | €40,501 | €48,529 | +€8,028 | +19.8% |
| Income taxes | 67/77 | €5,669 | €11,667 | +€5,998 | +106% |
| Profit (loss) for the period | 9904 | €34,832 | €36,862 | +€2,030 | +5.8% |
| Profit (loss) for the period to be appropriated | 9905 | €34,832 | €36,862 | +€2,030 | +5.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.