ERTPAS: what changed
Two fiscal 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.
ERTPAS
Largest movements
- Tangible fixed assets +€764,000
up €764,000 (+413.2%), from €184,909 to €948,909
of which Land and buildings: +€450,000
- Receivables within one year -€358,946
down €358,946 (-71.1%), from €505,016 to €146,070
of which Trade receivables: -€381,446
- Cash +€36,902
up €36,902 (+100.1%), from €36,865 to €73,767
mainly Trade debts (+€465,029) and Receivables within one year (+€358,946)
- Trade debts +€465,029
up €465,029 (+360.7%), from €128,929 to €593,959
- Other debts -€98,968
down €98,968 (-24.7%), from €400,000 to €301,032
- Reserves +€97,581
up €97,581 (+21.7%), from €450,278 to €547,860
- Depreciation +€89,551
up €89,551 (+142.7%), from €62,772 to €152,323
- Taxes -€42,403
down €42,403 (-32.7%), from €129,788 to €87,385
- Gross operating margin -€25,086
down €25,086 (-2.2%), from €1.1m to €1.1m
- Staff costs +€19,002
up €19,002 (+3.4%), from €552,830 to €571,832
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 | €1,117,194 | €1,551,938 | +€434,744 | +38.9% |
| Fixed assets | 21/28 | €184,909 | €948,909 | +€764,000 | +413.2% |
| Tangible fixed assets | 22/27 | €184,909 | €948,909 | +€764,000 | +413.2% |
| Land and buildings | 22 | - | €450,000 | +€450,000 | |
| Plant, machinery and equipment | 23 | €99,257 | €215,188 | +€115,930 | +116.8% |
| Furniture and vehicles | 24 | €2,033 | €524 | -€1,510 | -74.2% |
| Other tangible fixed assets | 26 | €83,618 | €283,198 | +€199,580 | +238.7% |
| Current assets | 29/58 | €932,285 | €603,029 | -€329,256 | -35.3% |
| Stocks and contracts in progress | 3 | €386,373 | €380,307 | -€6,066 | -1.6% |
| Stocks | 30/36 | €386,373 | €380,307 | -€6,066 | -1.6% |
| Amounts receivable within one year | 40/41 | €505,016 | €146,070 | -€358,946 | -71.1% |
| Trade receivables | 40 | €505,016 | €123,570 | -€381,446 | -75.5% |
| Other amounts receivable | 41 | - | €22,500 | +€22,500 | |
| Cash at bank and in hand | 54/58 | €36,865 | €73,767 | +€36,902 | +100.1% |
| Deferred charges and accrued income | 490/1 | €4,031 | €2,884 | -€1,147 | -28.5% |
| Total equity and liabilities | 10/49 | €1,117,194 | €1,551,938 | +€434,744 | +38.9% |
| Equity | 10/15 | €470,278 | €567,860 | +€97,581 | +20.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €450,278 | €547,860 | +€97,581 | +21.7% |
| Distributable reserves | 133 | €450,278 | €547,860 | +€97,581 | +21.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €646,916 | €984,078 | +€337,163 | +52.1% |
| Amounts payable after more than one year | 17 | €8,909 | €6,681 | -€2,227 | -25.0% |
| Financial debts | 170/4 | €8,909 | €6,681 | -€2,227 | -25.0% |
| Amounts payable within one year | 42/48 | €630,786 | €973,786 | +€343,000 | +54.4% |
| Current portion of amounts payable after more than one year | 42 | €14,727 | €2,227 | -€12,500 | -84.9% |
| Trade debts | 44 | €128,929 | €593,959 | +€465,029 | +360.7% |
| Suppliers | 440/4 | €128,929 | €593,959 | +€465,029 | +360.7% |
| Taxes, remuneration and social security | 45 | €87,130 | €76,569 | -€10,561 | -12.1% |
| Taxes | 450/3 | €12,096 | €11,272 | -€824 | -6.8% |
| Remuneration and social security | 454/9 | €75,033 | €65,297 | -€9,737 | -13.0% |
| Other amounts payable | 47/48 | €400,000 | €301,032 | -€98,968 | -24.7% |
| Accrued charges and deferred income | 492/3 | €7,221 | €3,610 | -€3,610 | -50.0% |
| Remuneration, social security and pensions | 62 | €552,830 | €571,832 | +€19,002 | +3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,772 | €152,323 | +€89,551 | +142.7% |
| Other operating charges | 640/8 | €1,459 | €1,501 | +€42 | +2.9% |
| Gross operating margin | 9900 | €1,147,400 | €1,122,314 | -€25,086 | -2.2% |
| Operating profit (loss) | 9901 | €530,338 | €396,657 | -€133,681 | -25.2% |
| Financial income | 75/76B | €18,658 | €11,125 | -€7,532 | -40.4% |
| Recurring financial income | 75 | €18,658 | €11,125 | -€7,532 | -40.4% |
| Financial charges | 65/66B | €20,057 | €22,816 | +€2,758 | +13.8% |
| Recurring financial charges | 65 | €20,057 | €22,816 | +€2,758 | +13.8% |
| Profit (loss) for the period before taxes | 9903 | €528,939 | €384,967 | -€143,972 | -27.2% |
| Income taxes | 67/77 | €129,788 | €87,385 | -€42,403 | -32.7% |
| Profit (loss) for the period | 9904 | €399,150 | €297,581 | -€101,569 | -25.4% |
| Profit (loss) for the period to be appropriated | 9905 | €399,150 | €297,581 | -€101,569 | -25.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.