Ervé: 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.
What changed
Ervé
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€523,966
2024 · €691,419-€167,453
Equity
€15.1m
2024 · €15.3m-€229,490
Cash
€66,180
2024 · €40,045+€26,134
Balance sheet total
€15.2m
2024 · €15.4m-€132,204
Largest movements
Assets
- Tangible fixed assets -€510,828
down €510,828 (-60.7%), from €841,671 to €330,843
of which Land and buildings: -€489,339
- Current investments +€240,759
up €240,759 (+12.6%), from €1.9m to €2.2m
Equity and liabilities
- Reserves -€229,490
down €229,490 (-2.0%), from €11.7m to €11.5m
of which Distributable reserves: -€559,495
Income statement
- Financial income -€323,175
down €323,175 (-75.3%), from €429,322 to €106,146
- Gross operating margin +€159,708
up €159,708 (+29.7%), from €537,154 to €696,861
- Taxes -€64,794
down €64,794 (-52.6%), from €123,220 to €58,426
- Depreciation -€26,243
down €26,243 (-35.2%), from €74,483 to €48,240
- Financial charges -€11,011
down €11,011 (-44.2%), from €24,889 to €13,878
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
€691,419
Gross operating margin
+€159,708
Staff costs
+€1,274
Depreciation
+€26,243
Other operating charges
+€2,695
Financial income
-€323,175
Financial charges
+€11,011
Taxes
+€64,794
Deferred taxes and other
-€110,002
Result 2025
€523,966
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€611,429
Investment
+€179,464
Financing
-€764,758
Cash 2024
€40,045
From operations (derived)
+€611,429
Net result for the year
+€523,966
Depreciation
+€48,240
Receivables after one year
+€5,238
Receivables within one year
-€52,734
Deferred charges and accrued income
-€21,870
Provisions
+€110,002
Trade debts
-€3,263
Tax, wage and social debts
-€5,855
Other debts
+€6,515
Accrued charges and deferred income
+€1,190
Investment (derived)
+€179,464
Investment in fixed assets (net)
+€420,224
Current investments
-€240,759
Financing
-€764,758
Debts after one year
-€11,302
Contributions, distributions and other
-€753,456
Cash 2025
€66,180
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €15,368,496 | €15,236,292 | -€132,204 | -0.9% |
| Fixed assets | 21/28 | €13,007,739 | €12,539,276 | -€468,463 | -3.6% |
| Tangible fixed assets | 22/27 | €841,671 | €330,843 | -€510,828 | -60.7% |
| Land and buildings | 22 | €738,894 | €249,555 | -€489,339 | -66.2% |
| Furniture and vehicles | 24 | €94,493 | €74,366 | -€20,127 | -21.3% |
| Other tangible fixed assets | 26 | €8,284 | €6,922 | -€1,362 | -16.4% |
| Financial fixed assets | 28 | €12,166,068 | €12,208,432 | +€42,365 | +0.3% |
| Current assets | 29/58 | €2,360,757 | €2,697,016 | +€336,260 | +14.2% |
| Amounts receivable after more than one year | 29 | €369,783 | €364,545 | -€5,238 | -1.4% |
| Other amounts receivable | 291 | €369,783 | €364,545 | -€5,238 | -1.4% |
| Amounts receivable within one year | 40/41 | €23,832 | €76,567 | +€52,734 | +221% |
| Trade receivables | 40 | €23,832 | €16,389 | -€7,443 | -31.2% |
| Other amounts receivable | 41 | - | €60,177 | +€60,177 | |
| Current investments | 50/53 | €1,910,000 | €2,150,759 | +€240,759 | +12.6% |
| Cash at bank and in hand | 54/58 | €40,045 | €66,180 | +€26,134 | +65.3% |
| Deferred charges and accrued income | 490/1 | €17,096 | €38,966 | +€21,870 | +128% |
| Total equity and liabilities | 10/49 | €15,368,496 | €15,236,292 | -€132,204 | -0.9% |
| Equity | 10/15 | €15,320,915 | €15,091,425 | -€229,490 | -1.5% |
| Contributions | 10/11 | €3,597,936 | €3,597,936 | = | 0.0% |
| Reserves | 13 | €11,722,979 | €11,493,489 | -€229,490 | -2.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €6,471 | €336,476 | +€330,005 | +5,100% |
| Distributable reserves | 133 | €11,716,508 | €11,157,013 | -€559,495 | -4.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | - | €110,002 | +€110,002 | |
| Deferred taxes | 168 | - | €110,002 | +€110,002 | |
| Amounts payable | 17/49 | €47,581 | €34,866 | -€12,715 | -26.7% |
| Amounts payable after more than one year | 17 | €13,133 | €1,831 | -€11,302 | -86.1% |
| Financial debts | 170/4 | €11,302 | €0 | -€11,302 | -100% |
| Other amounts payable | 178/9 | €1,831 | €1,831 | = | 0.0% |
| Amounts payable within one year | 42/48 | €34,448 | €31,845 | -€2,603 | -7.6% |
| Trade debts | 44 | €4,248 | €985 | -€3,263 | -76.8% |
| Suppliers | 440/4 | €4,248 | €985 | -€3,263 | -76.8% |
| Taxes, remuneration and social security | 45 | €27,256 | €21,401 | -€5,855 | -21.5% |
| Taxes | 450/3 | €20,676 | €15,572 | -€5,104 | -24.7% |
| Remuneration and social security | 454/9 | €6,581 | €5,829 | -€751 | -11.4% |
| Other amounts payable | 47/48 | €2,944 | €9,459 | +€6,515 | +221% |
| Accrued charges and deferred income | 492/3 | €0 | €1,190 | +€1,190 | |
| Non-recurring operating income | 76A | €82,454 | €474,356 | +€391,903 | +475% |
| Remuneration, social security and pensions | 62 | €43,865 | €42,591 | -€1,274 | -2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,483 | €48,240 | -€26,243 | -35.2% |
| Other operating charges | 640/8 | €8,600 | €5,905 | -€2,695 | -31.3% |
| Gross operating margin | 9900 | €537,154 | €696,861 | +€159,708 | +29.7% |
| Operating profit (loss) | 9901 | €410,206 | €600,125 | +€189,919 | +46.3% |
| Financial income | 75/76B | €429,322 | €106,146 | -€323,175 | -75.3% |
| Recurring financial income | 75 | €429,322 | €106,146 | -€323,175 | -75.3% |
| Financial charges | 65/66B | €24,889 | €13,878 | -€11,011 | -44.2% |
| Recurring financial charges | 65 | €24,889 | €13,878 | -€11,011 | -44.2% |
| Profit (loss) for the period before taxes | 9903 | €814,639 | €692,393 | -€122,246 | -15.0% |
| Transfer to deferred taxes | 680 | - | €110,002 | +€110,002 | |
| Income taxes | 67/77 | €123,220 | €58,426 | -€64,794 | -52.6% |
| Profit (loss) for the period | 9904 | €691,419 | €523,966 | -€167,453 | -24.2% |
| Transfer to tax-exempt reserves | 689 | - | €330,005 | +€330,005 | |
| Profit (loss) for the period to be appropriated | 9905 | €691,419 | €193,961 | -€497,458 | -71.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.