ERVEDE: 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.
ERVEDE
Largest movements
- Current investments -€722,786
down €722,786 (-27.3%), from €2.6m to €1.9m
- Cash +€528,960
up €528,960 (+888.4%), from €59,543 to €588,504
mainly Current investments (+€722,786) and Net result for the year (+€146,432)
- Financial fixed assets +€127,200
up €127,200 (+123.5%), from €102,958 to €230,158
- Tangible fixed assets -€102,797
down €102,797 (-10.3%), from €995,572 to €892,775
- Debts after one year -€250,000
down €250,000 (-100.0%), from €250,000 to €0
- Reserves +€63,644
up €63,644 (+1.9%), from €3.4m to €3.5m
of which Distributable reserves: +€63,644
- Trade debts +€51,763
up €51,763 (+621.7%), from €8,326 to €60,089
- Financial charges -€966,783
down €966,783 (-98.1%), from €985,674 to €18,891
- Taxes +€15,601
up €15,601 (+28.0%), from €55,789 to €71,390
- Gross operating margin -€12,843
down €12,843 (-3.9%), from €327,948 to €315,105
- Financial income -€10,941
down €10,941 (-12.0%), from €90,808 to €79,867
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 | €3,910,194 | €3,747,926 | -€162,268 | -4.1% |
| Fixed assets | 21/28 | €1,098,530 | €1,122,933 | +€24,403 | +2.2% |
| Tangible fixed assets | 22/27 | €995,572 | €892,775 | -€102,797 | -10.3% |
| Land and buildings | 22 | €837,619 | €823,391 | -€14,229 | -1.7% |
| Plant, machinery and equipment | 23 | €48,236 | €0 | -€48,236 | -100.0% |
| Furniture and vehicles | 24 | €109,716 | €69,384 | -€40,332 | -36.8% |
| Financial fixed assets | 28 | €102,958 | €230,158 | +€127,200 | +123.5% |
| Current assets | 29/58 | €2,811,664 | €2,624,993 | -€186,671 | -6.6% |
| Amounts receivable within one year | 40/41 | €88,654 | €74,365 | -€14,289 | -16.1% |
| Trade receivables | 40 | €78,351 | €74,103 | -€4,248 | -5.4% |
| Other amounts receivable | 41 | €10,303 | €262 | -€10,041 | -97.5% |
| Current investments | 50/53 | €2,648,984 | €1,926,197 | -€722,786 | -27.3% |
| Cash at bank and in hand | 54/58 | €59,543 | €588,504 | +€528,960 | +888.4% |
| Deferred charges and accrued income | 490/1 | €14,483 | €35,927 | +€21,444 | +148.1% |
| Total equity and liabilities | 10/49 | €3,910,194 | €3,747,926 | -€162,268 | -4.1% |
| Equity | 10/15 | €3,487,083 | €3,550,727 | +€63,644 | +1.8% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Capital | 10 | €70,000 | €70,000 | = | 0.0% |
| Issued capital | 100 | €70,000 | €70,000 | = | 0.0% |
| Reserves | 13 | €3,417,083 | €3,480,727 | +€63,644 | +1.9% |
| Non-distributable reserves | 130/1 | €7,000 | €7,000 | = | 0.0% |
| Legal reserve | 130 | €7,000 | €7,000 | = | 0.0% |
| Distributable reserves | 133 | €3,410,083 | €3,473,727 | +€63,644 | +1.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €423,110 | €197,199 | -€225,912 | -53.4% |
| Amounts payable after more than one year | 17 | €250,000 | €0 | -€250,000 | -100.0% |
| Other amounts payable | 178/9 | €250,000 | €0 | -€250,000 | -100.0% |
| Amounts payable within one year | 42/48 | €134,823 | €194,641 | +€59,818 | +44.4% |
| Trade debts | 44 | €8,326 | €60,089 | +€51,763 | +621.7% |
| Suppliers | 440/4 | €8,326 | €60,089 | +€51,763 | +621.7% |
| Taxes, remuneration and social security | 45 | €18,467 | €44,685 | +€26,219 | +142.0% |
| Taxes | 450/3 | €18,467 | €44,685 | +€26,219 | +142.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €108,030 | €89,867 | -€18,163 | -16.8% |
| Accrued charges and deferred income | 492/3 | €38,288 | €2,558 | -€35,730 | -93.3% |
| Non-recurring operating income | 76A | - | €1,731 | +€1,731 | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €103,586 | €106,287 | +€2,700 | +2.6% |
| Other operating charges | 640/8 | €55,005 | €51,973 | -€3,032 | -5.5% |
| Gross operating margin | 9900 | €327,948 | €315,105 | -€12,843 | -3.9% |
| Operating profit (loss) | 9901 | €169,357 | €156,846 | -€12,512 | -7.4% |
| Financial income | 75/76B | €90,808 | €79,867 | -€10,941 | -12.0% |
| Recurring financial income | 75 | €90,808 | €79,867 | -€10,941 | -12.0% |
| Financial charges | 65/66B | €985,674 | €18,891 | -€966,783 | -98.1% |
| Recurring financial charges | 65 | €985,674 | €18,891 | -€966,783 | -98.1% |
| Profit (loss) for the period before taxes | 9903 | -€725,509 | €217,822 | +€943,331 | |
| Income taxes | 67/77 | €55,789 | €71,390 | +€15,601 | +28.0% |
| Profit (loss) for the period | 9904 | -€781,298 | €146,432 | +€927,730 | |
| Profit (loss) for the period to be appropriated | 9905 | -€781,298 | €146,432 | +€927,730 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.