ERVIN: 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.
ERVIN
Largest movements
- Receivables within one year -€132,457
down €132,457 (-83.5%), from €158,573 to €26,116
of which Other amounts receivable: -€134,063
- Cash +€92,281
up €92,281 (+1307.5%), from €7,058 to €99,339
mainly Net result for the year (+€240,419) and Receivables within one year (+€132,457)
- Tangible fixed assets -€60,779
down €60,779 (-70.0%), from €86,807 to €26,029
- Debts after one year -€373,838
down €373,838 (-15.2%), from €2.5m to €2.1m
- Reserves +€240,000
up €240,000 (+19.9%), from €1.2m to €1.4m
- Financial income -€79,993
down €79,993 (-28.6%), from €280,000 to €200,007
- Gross operating margin -€34,254
down €34,254 (-15.4%), from €222,974 to €188,720
- Financial charges -€15,365
down €15,365 (-20.9%), from €73,376 to €58,011
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 | €5,376,092 | €5,255,270 | -€120,822 | -2.2% |
| Fixed assets | 21/28 | €5,186,807 | €5,126,029 | -€60,779 | -1.2% |
| Tangible fixed assets | 22/27 | €86,807 | €26,029 | -€60,779 | -70.0% |
| Furniture and vehicles | 24 | €86,807 | €26,029 | -€60,779 | -70.0% |
| Financial fixed assets | 28 | €5,100,000 | €5,100,000 | = | 0.0% |
| Current assets | 29/58 | €189,285 | €129,242 | -€60,043 | -31.7% |
| Amounts receivable within one year | 40/41 | €158,573 | €26,116 | -€132,457 | -83.5% |
| Trade receivables | 40 | €0 | €1,605 | +€1,605 | |
| Other amounts receivable | 41 | €158,573 | €24,510 | -€134,063 | -84.5% |
| Cash at bank and in hand | 54/58 | €7,058 | €99,339 | +€92,281 | +1307.5% |
| Deferred charges and accrued income | 490/1 | €23,654 | €3,787 | -€19,867 | -84.0% |
| Total equity and liabilities | 10/49 | €5,376,092 | €5,255,270 | -€120,822 | -2.2% |
| Equity | 10/15 | €2,208,908 | €2,449,327 | +€240,419 | +10.9% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Reserves | 13 | €1,206,000 | €1,446,000 | +€240,000 | +19.9% |
| Distributable reserves | 133 | €1,206,000 | €1,446,000 | +€240,000 | +19.9% |
| Profit (loss) carried forward | 14 | €2,908 | €3,327 | +€419 | +14.4% |
| Amounts payable | 17/49 | €3,167,184 | €2,805,943 | -€361,241 | -11.4% |
| Amounts payable after more than one year | 17 | €2,454,405 | €2,080,567 | -€373,838 | -15.2% |
| Financial debts | 170/4 | €2,454,405 | €2,080,567 | -€373,838 | -15.2% |
| Amounts payable within one year | 42/48 | €707,425 | €714,028 | +€6,604 | +0.9% |
| Current portion of amounts payable after more than one year | 42 | €400,005 | €404,791 | +€4,786 | +1.2% |
| Trade debts | 44 | €5,319 | €3,480 | -€1,839 | -34.6% |
| Suppliers | 440/4 | €5,319 | €3,480 | -€1,839 | -34.6% |
| Taxes, remuneration and social security | 45 | €15,145 | €18,404 | +€3,259 | +21.5% |
| Taxes | 450/3 | €15,145 | €18,404 | +€3,259 | +21.5% |
| Other amounts payable | 47/48 | €286,956 | €287,353 | +€398 | +0.1% |
| Accrued charges and deferred income | 492/3 | €5,354 | €11,347 | +€5,993 | +111.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,167 | €60,779 | -€388 | -0.6% |
| Other operating charges | 640/8 | €1,248 | €1,445 | +€197 | +15.8% |
| Gross operating margin | 9900 | €222,974 | €188,720 | -€34,254 | -15.4% |
| Operating profit (loss) | 9901 | €160,559 | €126,496 | -€34,063 | -21.2% |
| Financial income | 75/76B | €280,000 | €200,007 | -€79,993 | -28.6% |
| Recurring financial income | 75 | €280,000 | €200,007 | -€79,993 | -28.6% |
| Financial charges | 65/66B | €73,376 | €58,011 | -€15,365 | -20.9% |
| Recurring financial charges | 65 | €73,376 | €58,011 | -€15,365 | -20.9% |
| Profit (loss) for the period before taxes | 9903 | €367,183 | €268,492 | -€98,691 | -26.9% |
| Income taxes | 67/77 | €29,380 | €28,073 | -€1,307 | -4.5% |
| Profit (loss) for the period | 9904 | €337,803 | €240,419 | -€97,383 | -28.8% |
| Profit (loss) for the period to be appropriated | 9905 | €337,803 | €240,419 | -€97,383 | -28.8% |
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 7 October 2026 via checked.be.