ERTINVEST: 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.
ERTINVEST
Largest movements
- Tangible fixed assets -€29,015
down €29,015 (-5.5%), from €524,615 to €495,600
of which Land and buildings: -€25,067
- Debts after one year -€54,443
down €54,443 (-25.4%), from €214,749 to €160,306
- Other debts +€14,000
up €14,000 (+13.5%), from €103,571 to €117,571
- Profit (loss) carried forward +€9,500
up €9,500 (+15.9%), from €59,716 to €69,217
- Gross operating margin -€2,724
down €2,724 (-5.0%), from €54,645 to €51,920
- Financial charges -€1,598
down €1,598 (-17.4%), from €9,203 to €7,605
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 | €527,666 | €496,004 | -€31,662 | -6.0% |
| Fixed assets | 21/28 | €524,615 | €495,600 | -€29,015 | -5.5% |
| Tangible fixed assets | 22/27 | €524,615 | €495,600 | -€29,015 | -5.5% |
| Land and buildings | 22 | €520,666 | €495,600 | -€25,067 | -4.8% |
| Plant, machinery and equipment | 23 | €3,948 | - | -€3,948 | |
| Current assets | 29/58 | €3,051 | €405 | -€2,647 | -86.7% |
| Amounts receivable within one year | 40/41 | €1,919 | - | -€1,919 | |
| Trade receivables | 40 | €1,919 | - | -€1,919 | |
| Cash at bank and in hand | 54/58 | €1,133 | €405 | -€728 | -64.3% |
| Total equity and liabilities | 10/49 | €527,666 | €496,004 | -€31,662 | -6.0% |
| Equity | 10/15 | €80,616 | €90,117 | +€9,500 | +11.8% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €1,900 | €1,900 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Profit (loss) carried forward | 14 | €59,716 | €69,217 | +€9,500 | +15.9% |
| Provisions and deferred taxes | 16 | €40,000 | €40,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €40,000 | €40,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €40,000 | €40,000 | = | 0.0% |
| Amounts payable | 17/49 | €407,050 | €365,888 | -€41,162 | -10.1% |
| Amounts payable after more than one year | 17 | €214,749 | €160,306 | -€54,443 | -25.4% |
| Financial debts | 170/4 | €214,749 | €160,306 | -€54,443 | -25.4% |
| Amounts payable within one year | 42/48 | €187,301 | €202,561 | +€15,260 | +8.1% |
| Current portion of amounts payable after more than one year | 42 | €53,730 | €54,443 | +€713 | +1.3% |
| Trade debts | 44 | - | €548 | +€548 | |
| Suppliers | 440/4 | - | €548 | +€548 | |
| Advances received on contracts in progress | 46 | €30,000 | €30,000 | = | 0.0% |
| Other amounts payable | 47/48 | €103,571 | €117,571 | +€14,000 | +13.5% |
| Accrued charges and deferred income | 492/3 | €5,000 | €3,021 | -€1,979 | -39.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,015 | €29,015 | +€0 | 0.0% |
| Other operating charges | 640/8 | €4,230 | €4,361 | +€131 | +3.1% |
| Gross operating margin | 9900 | €54,645 | €51,920 | -€2,724 | -5.0% |
| Operating profit (loss) | 9901 | €21,399 | €18,545 | -€2,855 | -13.3% |
| Financial charges | 65/66B | €9,203 | €7,605 | -€1,598 | -17.4% |
| Recurring financial charges | 65 | €9,203 | €7,605 | -€1,598 | -17.4% |
| Profit (loss) for the period before taxes | 9903 | €12,196 | €10,939 | -€1,256 | -10.3% |
| Income taxes | 67/77 | €1,952 | €1,439 | -€513 | -26.3% |
| Profit (loss) for the period | 9904 | €10,243 | €9,500 | -€743 | -7.3% |
| Profit (loss) for the period to be appropriated | 9905 | €10,243 | €9,500 | -€743 | -7.3% |
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.