Erwin: 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.
Erwin
Largest movements
- Receivables within one year -€8,915
down €8,915 (-95.0%), from €9,381 to €466
of which Trade receivables: -€9,375
- Stocks and contracts +€6,363
up €6,363 (+13.0%), from €48,986 to €55,350
- Cash +€4,105
up €4,105 (+350.0%), from €1,173 to €5,278
mainly Accrued charges and deferred income (+€9,802) and Receivables within one year (+€8,915)
- Tax, wage and social debts -€9,834
down €9,834 (-38.0%), from €25,887 to €16,053
of which Remuneration and social security: -€6,077
- Accrued charges and deferred income +€9,802
new in 2025: €9,802
- Profit (loss) carried forward +€2,403
up €2,403 (+151.4%), from €1,587 to €3,990
- Trade debts -€649
down €649 (-23.4%), from €2,771 to €2,122
- Staff costs -€15,519
down €15,519, from €15,503 to -€16
- Gross operating margin -€15,171
down €15,171 (-77.6%), from €19,558 to €4,387
- Other operating charges -€408
down €408 (-27.0%), from €1,514 to €1,106
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 | €59,551 | €61,105 | +€1,554 | +2.6% |
| Formation expenses | 20 | €11 | €11 | = | 0.0% |
| Current assets | 29/58 | €59,540 | €61,094 | +€1,554 | +2.6% |
| Stocks and contracts in progress | 3 | €48,986 | €55,350 | +€6,363 | +13.0% |
| Stocks | 30/36 | €48,986 | €55,350 | +€6,363 | +13.0% |
| Amounts receivable within one year | 40/41 | €9,381 | €466 | -€8,915 | -95.0% |
| Trade receivables | 40 | €9,381 | €6 | -€9,375 | -99.9% |
| Other amounts receivable | 41 | €0 | €460 | +€460 | |
| Cash at bank and in hand | 54/58 | €1,173 | €5,278 | +€4,105 | +350.0% |
| Total equity and liabilities | 10/49 | €59,551 | €61,105 | +€1,554 | +2.6% |
| Equity | 10/15 | €7,587 | €9,990 | +€2,403 | +31.7% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,587 | €3,990 | +€2,403 | +151.4% |
| Amounts payable | 17/49 | €51,964 | €51,115 | -€850 | -1.6% |
| Amounts payable within one year | 42/48 | €51,964 | €41,312 | -€10,652 | -20.5% |
| Trade debts | 44 | €2,771 | €2,122 | -€649 | -23.4% |
| Suppliers | 440/4 | €2,771 | €2,122 | -€649 | -23.4% |
| Taxes, remuneration and social security | 45 | €25,887 | €16,053 | -€9,834 | -38.0% |
| Taxes | 450/3 | €6,694 | €2,938 | -€3,756 | -56.1% |
| Remuneration and social security | 454/9 | €19,193 | €13,116 | -€6,077 | -31.7% |
| Other amounts payable | 47/48 | €23,306 | €23,137 | -€169 | -0.7% |
| Accrued charges and deferred income | 492/3 | - | €9,802 | +€9,802 | |
| Remuneration, social security and pensions | 62 | €15,503 | -€16 | -€15,519 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €175 | - | -€175 | |
| Other operating charges | 640/8 | €1,514 | €1,106 | -€408 | -27.0% |
| Gross operating margin | 9900 | €19,558 | €4,387 | -€15,171 | -77.6% |
| Operating profit (loss) | 9901 | €2,366 | €3,298 | +€932 | +39.4% |
| Financial income | 75/76B | €9 | €53 | +€44 | +468.5% |
| Recurring financial income | 75 | €9 | €53 | +€44 | +468.5% |
| Financial charges | 65/66B | €260 | €304 | +€43 | +16.6% |
| Recurring financial charges | 65 | €260 | €304 | +€43 | +16.6% |
| Profit (loss) for the period before taxes | 9903 | €2,115 | €3,047 | +€933 | +44.1% |
| Income taxes | 67/77 | €461 | €644 | +€183 | +39.7% |
| Profit (loss) for the period | 9904 | €1,654 | €2,403 | +€749 | +45.3% |
| Profit (loss) for the period to be appropriated | 9905 | €1,654 | €2,403 | +€749 | +45.3% |
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 4 October 2026 via checked.be.