ERUDITIO: 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.
ERUDITIO
Largest movements
- Stocks and contracts +€9,600
new in 2025: €9,600
- Receivables within one year +€8,549
up €8,549 (+19.3%), from €44,286 to €52,835
of which Other amounts receivable: +€9,776
- Cash -€7,097
down €7,097 (-31.3%), from €22,689 to €15,592
- Tangible fixed assets -€3,119
no longer reported in 2025 (was €3,119)
- Other debts -€24,375
down €24,375 (-35.2%), from €69,341 to €44,966
- Short-term financial debts +€18,667
new in 2025: €18,667
- Trade debts +€18,608
up €18,608 (+111.5%), from €16,685 to €35,293
- Profit (loss) carried forward -€14,879
down €14,879 (-36.4%), from -€40,858 to -€55,737
- Current portion of long-term debt +€12,510
new in 2025: €12,510
- Gross operating margin +€40,501
up €40,501, from -€6,961 to €33,540
- Purchases and services +€27,723
up €27,723 (+112.6%), from €24,620 to €52,343
- Turnover -€16,157
no longer reported in 2025 (was €16,157)
- Staff costs -€7,208
no longer reported in 2025 (was €7,208)
- Taxes -€6,704
no longer reported in 2025 (was €6,704)
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €70,094 | €78,027 | +€7,933 | +11.3% |
| Fixed assets | 21/28 | €3,119 | - | -€3,119 | |
| Tangible fixed assets | 22/27 | €3,119 | - | -€3,119 | |
| Furniture and vehicles | 24 | €3,119 | - | -€3,119 | |
| Current assets | 29/58 | €66,975 | €78,027 | +€11,052 | +16.5% |
| Stocks and contracts in progress | 3 | - | €9,600 | +€9,600 | |
| Stocks | 30/36 | - | €9,600 | +€9,600 | |
| Amounts receivable within one year | 40/41 | €44,286 | €52,835 | +€8,549 | +19.3% |
| Trade receivables | 40 | €43,083 | €41,856 | -€1,227 | -2.8% |
| Other amounts receivable | 41 | €1,203 | €10,979 | +€9,776 | +812.6% |
| Cash at bank and in hand | 54/58 | €22,689 | €15,592 | -€7,097 | -31.3% |
| Total equity and liabilities | 10/49 | €70,094 | €78,027 | +€7,933 | +11.3% |
| Equity | 10/15 | -€20,858 | -€35,737 | -€14,879 | -71.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Capital | 10 | €20,000 | €20,000 | = | 0.0% |
| Issued capital | 100 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€40,858 | -€55,737 | -€14,879 | -36.4% |
| Amounts payable | 17/49 | €90,952 | €113,764 | +€22,812 | +25.1% |
| Amounts payable within one year | 42/48 | €90,952 | €113,764 | +€22,812 | +25.1% |
| Current portion of amounts payable after more than one year | 42 | - | €12,510 | +€12,510 | |
| Financial debts | 43 | - | €18,667 | +€18,667 | |
| Credit institutions | 430/8 | - | €18,667 | +€18,667 | |
| Trade debts | 44 | €16,685 | €35,293 | +€18,608 | +111.5% |
| Suppliers | 440/4 | €16,685 | €35,293 | +€18,608 | +111.5% |
| Taxes, remuneration and social security | 45 | €4,926 | €2,328 | -€2,598 | -52.7% |
| Taxes | 450/3 | €2,327 | €2,328 | +€1 | 0.0% |
| Remuneration and social security | 454/9 | €2,599 | - | -€2,599 | |
| Other amounts payable | 47/48 | €69,341 | €44,966 | -€24,375 | -35.2% |
| Turnover | 70 | €16,157 | - | -€16,157 | |
| Non-recurring operating income | 76A | - | €207 | +€207 | |
| Goods, raw materials, services and sundry goods | 60/61 | €24,620 | €52,343 | +€27,723 | +112.6% |
| Remuneration, social security and pensions | 62 | €7,208 | - | -€7,208 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,129 | €960 | -€3,169 | -76.7% |
| Other operating charges | 640/8 | €80 | €85 | +€5 | +6.3% |
| Non-recurring operating charges | 66A | €915 | - | -€915 | |
| Gross operating margin | 9900 | -€6,961 | €33,540 | +€40,501 | |
| Operating profit (loss) | 9901 | -€19,293 | €32,495 | +€51,788 | |
| Financial charges | 65/66B | €3,280 | €6,703 | +€3,423 | +104.4% |
| Recurring financial charges | 65 | €3,280 | €6,703 | +€3,423 | +104.4% |
| Profit (loss) for the period before taxes | 9903 | -€22,573 | €25,792 | +€48,365 | |
| Income taxes | 67/77 | €6,704 | - | -€6,704 | |
| Profit (loss) for the period | 9904 | -€29,277 | €25,792 | +€55,069 | |
| Profit (loss) for the period to be appropriated | 9905 | -€29,277 | €25,792 | +€55,069 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.