ERVEL: 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.
ERVEL
Largest movements
- Receivables within one year +€18,516
up €18,516 (+160%), from €11,568 to €30,083
of which Other amounts receivable: +€12,796
- Tangible fixed assets -€4,924
down €4,924 (-16.1%), from €30,496 to €25,572
of which Land and buildings: -€6,971
- Cash +€4,583
up €4,583 (+53.5%), from €8,561 to €13,144
mainly Net result for the year (+€27,163) and Tax, wage and social debts (+€3,968)
- Reserves +€27,163
up €27,163 (+2,466%), from €1,102 to €28,264
- Trade debts -€6,692
no longer reported in 2025 (was €6,692)
- Tax, wage and social debts +€3,968
up €3,968 (+141%), from €2,805 to €6,773
of which Taxes: +€6,168
- Debts after one year -€3,860
down €3,860 (-25.0%), from €15,412 to €11,552
- Other debts -€2,573
no longer reported in 2025 (was €2,573)
- Gross operating margin +€14,725
up €14,725 (+125%), from €11,735 to €26,460
- Financial income +€9,786
up €9,786 (+91,371%), from €11 to €9,797
of which Non-recurring financial income: +€9,644
- Taxes +€4,871
up €4,871 (+3,426%), from €142 to €5,014
- Other operating charges -€2,145
down €2,145 (-83.6%), from €2,566 to €421
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 | €50,874 | €69,049 | +€18,175 | +35.7% |
| Fixed assets | 21/28 | €30,746 | €25,822 | -€4,924 | -16.0% |
| Tangible fixed assets | 22/27 | €30,496 | €25,572 | -€4,924 | -16.1% |
| Land and buildings | 22 | €27,679 | €20,708 | -€6,971 | -25.2% |
| Plant, machinery and equipment | 23 | €883 | €3,377 | +€2,494 | +282% |
| Furniture and vehicles | 24 | €1,933 | €1,487 | -€446 | -23.1% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €20,129 | €43,228 | +€23,099 | +115% |
| Amounts receivable within one year | 40/41 | €11,568 | €30,083 | +€18,516 | +160% |
| Trade receivables | 40 | €6,568 | €12,287 | +€5,719 | +87.1% |
| Other amounts receivable | 41 | €5,000 | €17,796 | +€12,796 | +256% |
| Cash at bank and in hand | 54/58 | €8,561 | €13,144 | +€4,583 | +53.5% |
| Total equity and liabilities | 10/49 | €50,874 | €69,049 | +€18,175 | +35.7% |
| Equity | 10/15 | €19,702 | €46,864 | +€27,163 | +138% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,102 | €28,264 | +€27,163 | +2,466% |
| Distributable reserves | 133 | €1,102 | €28,264 | +€27,163 | +2,466% |
| Amounts payable | 17/49 | €31,173 | €22,185 | -€8,987 | -28.8% |
| Amounts payable after more than one year | 17 | €15,412 | €11,552 | -€3,860 | -25.0% |
| Financial debts | 170/4 | €15,412 | €11,552 | -€3,860 | -25.0% |
| Amounts payable within one year | 42/48 | €15,761 | €10,633 | -€5,128 | -32.5% |
| Current portion of amounts payable after more than one year | 42 | €3,690 | €3,860 | +€169 | +4.6% |
| Trade debts | 44 | €6,692 | - | -€6,692 | |
| Suppliers | 440/4 | €6,692 | - | -€6,692 | |
| Taxes, remuneration and social security | 45 | €2,805 | €6,773 | +€3,968 | +141% |
| Taxes | 450/3 | €605 | €6,773 | +€6,168 | +1,019% |
| Remuneration and social security | 454/9 | €2,200 | - | -€2,200 | |
| Other amounts payable | 47/48 | €2,573 | - | -€2,573 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,996 | €1,785 | -€212 | -10.6% |
| Other operating charges | 640/8 | €2,566 | €421 | -€2,145 | -83.6% |
| Non-recurring operating charges | 66A | €692 | - | -€692 | |
| Gross operating margin | 9900 | €11,735 | €26,460 | +€14,725 | +125% |
| Operating profit (loss) | 9901 | €6,480 | €24,254 | +€17,773 | +274% |
| Financial income | 75/76B | €11 | €9,797 | +€9,786 | +91,371% |
| Recurring financial income | 75 | €11 | €152 | +€142 | +1,323% |
| Non-recurring financial income | 76B | - | €9,644 | +€9,644 | |
| Financial charges | 65/66B | €1,812 | €1,874 | +€62 | +3.4% |
| Recurring financial charges | 65 | €1,812 | €1,874 | +€62 | +3.4% |
| Profit (loss) for the period before taxes | 9903 | €4,679 | €32,176 | +€27,497 | +588% |
| Income taxes | 67/77 | €142 | €5,014 | +€4,871 | +3,426% |
| Profit (loss) for the period | 9904 | €4,537 | €27,163 | +€22,625 | +499% |
| Profit (loss) for the period to be appropriated | 9905 | €4,537 | €27,163 | +€22,625 | +499% |
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.