Erika: 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.
What changed
Erika
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€35,903
2024 · -€21,215-€14,688
Equity
€1.1m
2024 · €1.1m-€35,903
Cash
€27,807
2024 · €25,335+€2,473
Balance sheet total
€1.7m
2024 · €1.7m-€52,612
Largest movements
Assets
- Tangible fixed assets -€48,195
down €48,195 (-2.9%), from €1.7m to €1.6m
of which Land and buildings: -€46,052
Equity and liabilities
- Reserves -€35,903
down €35,903 (-5.9%), from €609,267 to €573,364
of which Tax-exempt reserves: -€22,253
Income statement
- Financial charges +€8,096
up €8,096 (+66.5%), from €12,178 to €20,274
- Gross operating margin -€6,624
down €6,624 (-17.3%), from €38,214 to €31,590
- Taxes -€388
no longer reported in 2025 (was €388)
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.
Result 2024
-€21,215
Gross operating margin
-€6,624
Depreciation
-€311
Other operating charges
-€77
Financial income
+€32
Financial charges
-€8,096
Taxes
+€388
Result 2025
-€35,903
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.
From operations
+€14,864
Investment
-€1,389
Financing
-€11,002
Cash 2024
€25,335
From operations (derived)
+€14,864
Net result for the year
-€35,903
Depreciation
+€49,584
Receivables within one year
+€6,890
Provisions
-€7,418
Trade debts
+€2,499
Tax, wage and social debts
-€9,341
Other debts
+€8,553
Investment (derived)
-€1,389
Investment in fixed assets (net)
-€1,389
Financing
-€11,002
Debts after one year
-€11,455
Current portion of long-term debt
+€453
Cash 2025
€27,807
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,706,422 | €1,653,810 | -€52,612 | -3.1% |
| Fixed assets | 21/28 | €1,670,925 | €1,622,730 | -€48,195 | -2.9% |
| Tangible fixed assets | 22/27 | €1,670,925 | €1,622,730 | -€48,195 | -2.9% |
| Land and buildings | 22 | €1,658,288 | €1,612,236 | -€46,052 | -2.8% |
| Plant, machinery and equipment | 23 | €385 | €242 | -€144 | -37.3% |
| Furniture and vehicles | 24 | €12,252 | €10,252 | -€2,000 | -16.3% |
| Current assets | 29/58 | €35,497 | €31,080 | -€4,417 | -12.4% |
| Amounts receivable within one year | 40/41 | €10,162 | €3,273 | -€6,890 | -67.8% |
| Trade receivables | 40 | €9,388 | €2,493 | -€6,895 | -73.4% |
| Other amounts receivable | 41 | €775 | €780 | +€5 | +0.7% |
| Cash at bank and in hand | 54/58 | €25,335 | €27,807 | +€2,473 | +9.8% |
| Total equity and liabilities | 10/49 | €1,706,422 | €1,653,810 | -€52,612 | -3.1% |
| Equity | 10/15 | €1,093,403 | €1,057,500 | -€35,903 | -3.3% |
| Contributions | 10/11 | €484,136 | €484,136 | = | 0.0% |
| Capital | 10 | €484,136 | €484,136 | = | 0.0% |
| Issued capital | 100 | €484,136 | €484,136 | = | 0.0% |
| Reserves | 13 | €609,267 | €573,364 | -€35,903 | -5.9% |
| Non-distributable reserves | 130/1 | €48,414 | €48,414 | = | 0.0% |
| Legal reserve | 130 | €48,414 | €48,414 | = | 0.0% |
| Tax-exempt reserves | 132 | €537,526 | €515,273 | -€22,253 | -4.1% |
| Distributable reserves | 133 | €23,327 | €9,677 | -€13,650 | -58.5% |
| Provisions and deferred taxes | 16 | €179,175 | €171,758 | -€7,418 | -4.1% |
| Deferred taxes | 168 | €179,175 | €171,758 | -€7,418 | -4.1% |
| Amounts payable | 17/49 | €433,844 | €424,552 | -€9,291 | -2.1% |
| Amounts payable after more than one year | 17 | €281,676 | €270,220 | -€11,455 | -4.1% |
| Financial debts | 170/4 | €281,676 | €270,220 | -€11,455 | -4.1% |
| Amounts payable within one year | 42/48 | €152,168 | €154,332 | +€2,164 | +1.4% |
| Current portion of amounts payable after more than one year | 42 | €11,002 | €11,455 | +€453 | +4.1% |
| Trade debts | 44 | €1,472 | €3,971 | +€2,499 | +169.8% |
| Suppliers | 440/4 | €1,472 | €3,971 | +€2,499 | +169.8% |
| Taxes, remuneration and social security | 45 | €9,728 | €387 | -€9,341 | -96.0% |
| Taxes | 450/3 | €9,728 | €387 | -€9,341 | -96.0% |
| Other amounts payable | 47/48 | €129,966 | €138,519 | +€8,553 | +6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,273 | €49,584 | +€311 | +0.6% |
| Other operating charges | 640/8 | €5,042 | €5,119 | +€77 | +1.5% |
| Gross operating margin | 9900 | €38,214 | €31,590 | -€6,624 | -17.3% |
| Operating profit (loss) | 9901 | -€16,101 | -€23,113 | -€7,012 | -43.5% |
| Financial income | 75/76B | €35 | €67 | +€32 | +92.6% |
| Recurring financial income | 75 | €35 | €67 | +€32 | +92.6% |
| Financial charges | 65/66B | €12,178 | €20,274 | +€8,096 | +66.5% |
| Recurring financial charges | 65 | €12,178 | €20,274 | +€8,096 | +66.5% |
| Profit (loss) for the period before taxes | 9903 | -€28,245 | -€43,321 | -€15,076 | -53.4% |
| Transfer from deferred taxes | 780 | €7,418 | €7,418 | = | 0.0% |
| Income taxes | 67/77 | €388 | - | -€388 | |
| Profit (loss) for the period | 9904 | -€21,215 | -€35,903 | -€14,688 | -69.2% |
| Transfer from tax-exempt reserves | 789 | €22,253 | €22,253 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,038 | -€13,650 | -€14,688 |
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 6 October 2026 via checked.be.