THE ERS: 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.
THE ERS
Largest movements
- Receivables within one year +€29,917
up €29,917 (+39.3%), from €76,167 to €106,084
of which Other amounts receivable: +€27,669
- Cash -€5,477
down €5,477 (-30.1%), from €18,198 to €12,721
mainly Other debts (-€51,874) and Receivables within one year (-€29,917)
- Tax, wage and social debts +€53,792
up €53,792 (+106%), from €50,906 to €104,698
of which Taxes: +€39,253
- Other debts -€51,874
down €51,874 (-20.3%), from €255,827 to €203,953
- Profit (loss) carried forward +€37,845
up €37,845 (+30.0%), from -€126,015 to -€88,170
- Current portion of long-term debt -€6,234
down €6,234 (-55.5%), from €11,234 to €5,000
- Trade debts -€4,109
down €4,109 (-12.0%), from €34,363 to €30,254
- Gross operating margin +€75,070
up €75,070 (+884%), from €8,493 to €83,563
- Staff costs +€29,221
up €29,221 (+343%), from €8,527 to €37,748
- Depreciation -€24,220
no longer reported in 2024 (was €24,220)
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €260,447 | €289,867 | +€29,421 | +11.3% |
| Fixed assets | 21/28 | €66,589 | €67,497 | +€908 | +1.4% |
| Tangible fixed assets | 22/27 | €66,589 | €67,497 | +€908 | +1.4% |
| Furniture and vehicles | 24 | €588 | €1,496 | +€908 | +155% |
| Other tangible fixed assets | 26 | €66,001 | €66,001 | = | 0.0% |
| Current assets | 29/58 | €193,857 | €222,370 | +€28,513 | +14.7% |
| Stocks and contracts in progress | 3 | €97,128 | €99,066 | +€1,938 | +2.0% |
| Stocks | 30/36 | €97,128 | €99,066 | +€1,938 | +2.0% |
| Amounts receivable within one year | 40/41 | €76,167 | €106,084 | +€29,917 | +39.3% |
| Trade receivables | 40 | €900 | €3,148 | +€2,248 | +250% |
| Other amounts receivable | 41 | €75,267 | €102,936 | +€27,669 | +36.8% |
| Cash at bank and in hand | 54/58 | €18,198 | €12,721 | -€5,477 | -30.1% |
| Deferred charges and accrued income | 490/1 | €2,365 | €4,499 | +€2,134 | +90.2% |
| Total equity and liabilities | 10/49 | €260,447 | €289,867 | +€29,421 | +11.3% |
| Equity | 10/15 | -€91,882 | -€54,037 | +€37,845 | +41.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€126,015 | -€88,170 | +€37,845 | +30.0% |
| Investment grants | 15 | €15,533 | €15,533 | = | 0.0% |
| Amounts payable | 17/49 | €352,329 | €343,904 | -€8,425 | -2.4% |
| Amounts payable within one year | 42/48 | €352,329 | €343,904 | -€8,425 | -2.4% |
| Current portion of amounts payable after more than one year | 42 | €11,234 | €5,000 | -€6,234 | -55.5% |
| Trade debts | 44 | €34,363 | €30,254 | -€4,109 | -12.0% |
| Suppliers | 440/4 | €34,363 | €30,254 | -€4,109 | -12.0% |
| Taxes, remuneration and social security | 45 | €50,906 | €104,698 | +€53,792 | +106% |
| Taxes | 450/3 | €45,459 | €84,712 | +€39,253 | +86.3% |
| Remuneration and social security | 454/9 | €5,447 | €19,986 | +€14,539 | +267% |
| Other amounts payable | 47/48 | €255,827 | €203,953 | -€51,874 | -20.3% |
| Remuneration, social security and pensions | 62 | €8,527 | €37,748 | +€29,221 | +343% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,220 | - | -€24,220 | |
| Other operating charges | 640/8 | €3,726 | €2,896 | -€831 | -22.3% |
| Gross operating margin | 9900 | €8,493 | €83,563 | +€75,070 | +884% |
| Operating profit (loss) | 9901 | -€27,981 | €42,920 | +€70,900 | |
| Financial income | 75/76B | €4 | €12 | +€8 | +193% |
| Recurring financial income | 75 | €4 | €12 | +€8 | +193% |
| Financial charges | 65/66B | €4,202 | €4,719 | +€517 | +12.3% |
| Recurring financial charges | 65 | €4,202 | €4,719 | +€517 | +12.3% |
| Profit (loss) for the period before taxes | 9903 | -€32,179 | €38,213 | +€70,392 | |
| Income taxes | 67/77 | - | €367 | +€367 | |
| Profit (loss) for the period | 9904 | -€32,179 | €37,845 | +€70,024 | |
| Profit (loss) for the period to be appropriated | 9905 | -€32,179 | €37,845 | +€70,024 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.