ERUDITE: 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.
What changed
ERUDITE
NACE 64.310, Financial service activities, except insurance and pension funding
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€3,752
2024 · €78,600-€74,848
Equity
€5.4m
2024 · €20,252+€5.4m
Cash
€1,052
2024 · €12,857-€11,805
Balance sheet total
€10.9m
2024 · €119,870+€10.8m
Largest movements
Assets
- Financial fixed assets +€10.8m
new in 2025: €10.8m
Equity and liabilities
- Contributions +€5.4m
up €5.4m (+107,500%), from €5,000 to €5.4m
- Debts after one year +€5.4m
up €5.4m (+13,438%), from €40,000 to €5.4m
Income statement
- Financial charges +€117,055
up €117,055 (+17,213%), from €680 to €117,735
- Gross operating margin +€48,705
up €48,705 (+54.7%), from €89,021 to €137,726
- Taxes +€4,811
up €4,811 (+879%), from €548 to €5,359
- Depreciation +€1,494
up €1,494 (+16.1%), from €9,267 to €10,761
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.
Result 2024
€78,600
Gross operating margin
+€48,705
Staff costs
-€163
Depreciation
-€1,494
Other operating charges
-€2
Financial income
-€27
Financial charges
-€117,055
Taxes
-€4,811
Result 2025
€3,752
raises the resultlowers the result
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.
From operations
-€5,443
Investment
-€10.8m
Financing
+€10.8m
Cash 2024
€12,857
From operations (derived)
-€5,443
Net result for the year
+€3,752
Depreciation
+€10,761
Receivables within one year
-€61,397
Smaller working-capital items
+€8,713
Tax, wage and social debts
+€32,728
Investment (derived)
-€10.8m
Investment in fixed assets (net)
-€10.8m
Financing
+€10.8m
Debts after one year
+€5.4m
Contributions, distributions and other
+€5.4m
Cash 2025
€1,052
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €119,870 | €10,921,562 | +€10.8m | +9,011% |
| Fixed assets | 21/28 | €35,507 | €10,781,107 | +€10.7m | +30,264% |
| Tangible fixed assets | 22/27 | €35,507 | €31,107 | -€4,399 | -12.4% |
| Plant, machinery and equipment | 23 | €1,873 | €1,199 | -€674 | -36.0% |
| Furniture and vehicles | 24 | €18,238 | €17,444 | -€793 | -4.3% |
| Other tangible fixed assets | 26 | €15,396 | €12,464 | -€2,932 | -19.0% |
| Financial fixed assets | 28 | - | €10,750,000 | +€10.8m | |
| Current assets | 29/58 | €84,363 | €140,454 | +€56,091 | +66.5% |
| Amounts receivable within one year | 40/41 | €38,074 | €99,472 | +€61,397 | +161% |
| Trade receivables | 40 | - | €1,105 | +€1,105 | |
| Other amounts receivable | 41 | €38,074 | €98,367 | +€60,293 | +158% |
| Cash at bank and in hand | 54/58 | €12,857 | €1,052 | -€11,805 | -91.8% |
| Deferred charges and accrued income | 490/1 | €33,432 | €39,931 | +€6,499 | +19.4% |
| Total equity and liabilities | 10/49 | €119,870 | €10,921,562 | +€10.8m | +9,011% |
| Equity | 10/15 | €20,252 | €5,399,005 | +€5.4m | +26,559% |
| Contributions | 10/11 | €5,000 | €5,380,000 | +€5.4m | +107,500% |
| Reserves | 13 | €15,252 | €19,005 | +€3,752 | +24.6% |
| Distributable reserves | 133 | €15,252 | €19,005 | +€3,752 | +24.6% |
| Amounts payable | 17/49 | €99,617 | €5,522,557 | +€5.4m | +5,444% |
| Amounts payable after more than one year | 17 | €40,000 | €5,415,000 | +€5.4m | +13,438% |
| Financial debts | 170/4 | €40,000 | €5,415,000 | +€5.4m | +13,438% |
| Amounts payable within one year | 42/48 | €58,396 | €96,738 | +€38,342 | +65.7% |
| Trade debts | 44 | €492 | €5,116 | +€4,625 | +940% |
| Suppliers | 440/4 | €492 | €5,116 | +€4,625 | +940% |
| Taxes, remuneration and social security | 45 | €13,593 | €46,321 | +€32,728 | +241% |
| Taxes | 450/3 | €13,593 | €46,321 | +€32,728 | +241% |
| Other amounts payable | 47/48 | €44,311 | €45,301 | +€990 | +2.2% |
| Accrued charges and deferred income | 492/3 | €1,222 | €10,818 | +€9,597 | +786% |
| Remuneration, social security and pensions | 62 | -€163 | - | +€163 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,267 | €10,761 | +€1,494 | +16.1% |
| Other operating charges | 640/8 | €126 | €128 | +€2 | +1.6% |
| Gross operating margin | 9900 | €89,021 | €137,726 | +€48,705 | +54.7% |
| Operating profit (loss) | 9901 | €79,791 | €126,837 | +€47,046 | +59.0% |
| Financial income | 75/76B | €36 | €9 | -€27 | -75.3% |
| Recurring financial income | 75 | €36 | €9 | -€27 | -75.3% |
| Financial charges | 65/66B | €680 | €117,735 | +€117,055 | +17,213% |
| Recurring financial charges | 65 | €680 | €117,735 | +€117,055 | +17,213% |
| Profit (loss) for the period before taxes | 9903 | €79,148 | €9,111 | -€70,036 | -88.5% |
| Income taxes | 67/77 | €548 | €5,359 | +€4,811 | +879% |
| Profit (loss) for the period | 9904 | €78,600 | €3,752 | -€74,848 | -95.2% |
| Profit (loss) for the period to be appropriated | 9905 | €78,600 | €3,752 | -€74,848 | -95.2% |
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.