ERTOUR VOYAGES: 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.
ERTOUR VOYAGES
Largest movements
- Receivables within one year -€81,404
down €81,404 (-39.5%), from €206,232 to €124,828
of which Trade receivables: -€79,036
- Cash -€40,655
down €40,655 (-38.2%), from €106,318 to €65,663
mainly Trade debts (-€108,982) and Advances received (-€44,376)
- Deferred charges and accrued income -€35,421
down €35,421 (-100.0%), from €35,436 to €16
- Trade debts -€108,982
down €108,982 (-55.9%), from €194,921 to €85,939
- Advances received -€44,376
down €44,376 (-87.3%), from €50,813 to €6,436
- Accrued charges and deferred income -€4,000
no longer reported in 2025 (was €4,000)
- Taxes +€3,872
up €3,872 (+107%), from €3,606 to €7,478
- Staff costs +€3,355
up €3,355 (+5.4%), from €61,858 to €65,213
- Financial charges -€1,547
down €1,547 (-45.8%), from €3,378 to €1,831
- Other operating charges +€1,450
up €1,450 (+158%), from €916 to €2,366
- Gross operating margin -€1,310
down €1,310 (-1.7%), from €76,683 to €75,373
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 | €349,798 | €191,360 | -€158,438 | -45.3% |
| Fixed assets | 21/28 | €1,811 | €853 | -€959 | -52.9% |
| Tangible fixed assets | 22/27 | €1,811 | €853 | -€959 | -52.9% |
| Furniture and vehicles | 24 | €1,811 | €853 | -€959 | -52.9% |
| Current assets | 29/58 | €347,987 | €190,507 | -€157,480 | -45.3% |
| Amounts receivable within one year | 40/41 | €206,232 | €124,828 | -€81,404 | -39.5% |
| Trade receivables | 40 | €198,191 | €119,154 | -€79,036 | -39.9% |
| Other amounts receivable | 41 | €8,042 | €5,674 | -€2,368 | -29.4% |
| Cash at bank and in hand | 54/58 | €106,318 | €65,663 | -€40,655 | -38.2% |
| Deferred charges and accrued income | 490/1 | €35,436 | €16 | -€35,421 | -100.0% |
| Total equity and liabilities | 10/49 | €349,798 | €191,360 | -€158,438 | -45.3% |
| Equity | 10/15 | €84,050 | €81,576 | -€2,474 | -2.9% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €2,500 | €2,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Other | 1319 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €56,550 | €54,076 | -€2,474 | -4.4% |
| Amounts payable | 17/49 | €265,748 | €109,784 | -€155,965 | -58.7% |
| Amounts payable within one year | 42/48 | €261,748 | €109,784 | -€151,965 | -58.1% |
| Trade debts | 44 | €194,921 | €85,939 | -€108,982 | -55.9% |
| Suppliers | 440/4 | €194,921 | €85,939 | -€108,982 | -55.9% |
| Advances received on contracts in progress | 46 | €50,813 | €6,436 | -€44,376 | -87.3% |
| Taxes, remuneration and social security | 45 | €16,015 | €17,409 | +€1,394 | +8.7% |
| Taxes | 450/3 | €6,715 | €6,743 | +€28 | +0.4% |
| Remuneration and social security | 454/9 | €9,300 | €10,666 | +€1,366 | +14.7% |
| Accrued charges and deferred income | 492/3 | €4,000 | - | -€4,000 | |
| Remuneration, social security and pensions | 62 | €61,858 | €65,213 | +€3,355 | +5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €959 | €959 | = | 0.0% |
| Other operating charges | 640/8 | €916 | €2,366 | +€1,450 | +158% |
| Gross operating margin | 9900 | €76,683 | €75,373 | -€1,310 | -1.7% |
| Operating profit (loss) | 9901 | €12,950 | €6,835 | -€6,115 | -47.2% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €3,378 | €1,831 | -€1,547 | -45.8% |
| Recurring financial charges | 65 | €3,378 | €1,831 | -€1,547 | -45.8% |
| Profit (loss) for the period before taxes | 9903 | €9,573 | €5,004 | -€4,569 | -47.7% |
| Income taxes | 67/77 | €3,606 | €7,478 | +€3,872 | +107% |
| Profit (loss) for the period | 9904 | €5,967 | -€2,474 | -€8,440 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,967 | -€2,474 | -€8,440 |
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 27 October 2026 via checked.be.