ERGOX: 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.
ERGOX
Largest movements
- Cash +€179,403
up €179,403 (+61.4%), from €292,276 to €471,679
mainly Net result for the year (+€322,072) and Other debts (+€258,181)
- Stocks and contracts -€120,449
down €120,449 (-29.8%), from €404,019 to €283,570
- Tangible fixed assets +€51,104
up €51,104 (+9.0%), from €565,728 to €616,832
of which Furniture and vehicles: +€68,718
- Intangible fixed assets +€31,487
up €31,487 (+111%), from €28,365 to €59,852
- Other debts +€258,181
up €258,181 (+1,648%), from €15,664 to €273,845
- Profit (loss) carried forward -€119,516
down €119,516 (-31.7%), from €376,883 to €257,367
- Trade debts +€41,590
up €41,590 (+16.2%), from €257,249 to €298,839
- Gross operating margin +€122,578
up €122,578 (+32.8%), from €373,634 to €496,212
- Financial income -€29,895
down €29,895 (-97.3%), from €30,711 to €817
of which Financial income: -€15,133
- Depreciation -€14,170
down €14,170 (-17.5%), from €81,062 to €66,892
- Taxes +€13,819
up €13,819 (+21.5%), from €64,286 to €78,105
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,662,364 | €1,805,894 | +€143,530 | +8.6% |
| Formation expenses | 20 | €23,458 | €19,988 | -€3,471 | -14.8% |
| Fixed assets | 21/28 | €594,093 | €676,684 | +€82,590 | +13.9% |
| Intangible fixed assets | 21 | €28,365 | €59,852 | +€31,487 | +111% |
| Tangible fixed assets | 22/27 | €565,728 | €616,832 | +€51,104 | +9.0% |
| Land and buildings | 22 | €488,890 | €469,775 | -€19,115 | -3.9% |
| Plant, machinery and equipment | 23 | €28,985 | €42,781 | +€13,796 | +47.6% |
| Furniture and vehicles | 24 | €6,764 | €75,482 | +€68,718 | +1,016% |
| Other tangible fixed assets | 26 | €41,089 | €28,794 | -€12,295 | -29.9% |
| Current assets | 29/58 | €1,044,813 | €1,109,223 | +€64,410 | +6.2% |
| Amounts receivable after more than one year | 29 | €8,117 | €8,117 | = | 0.0% |
| Other amounts receivable | 291 | €8,117 | €8,117 | = | 0.0% |
| Stocks and contracts in progress | 3 | €404,019 | €283,570 | -€120,449 | -29.8% |
| Stocks | 30/36 | €404,019 | €283,570 | -€120,449 | -29.8% |
| Amounts receivable within one year | 40/41 | €305,812 | €309,697 | +€3,885 | +1.3% |
| Trade receivables | 40 | €289,597 | €231,030 | -€58,567 | -20.2% |
| Other amounts receivable | 41 | €16,215 | €78,667 | +€62,452 | +385% |
| Current investments | 50/53 | €25,039 | €25,039 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €292,276 | €471,679 | +€179,403 | +61.4% |
| Deferred charges and accrued income | 490/1 | €9,552 | €11,121 | +€1,570 | +16.4% |
| Total equity and liabilities | 10/49 | €1,662,364 | €1,805,894 | +€143,530 | +8.6% |
| Equity | 10/15 | €536,883 | €417,367 | -€119,516 | -22.3% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €10,000 | €10,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €376,883 | €257,367 | -€119,516 | -31.7% |
| Investment grants | 15 | €50,000 | €50,000 | = | 0.0% |
| Amounts payable | 17/49 | €1,125,482 | €1,388,528 | +€263,046 | +23.4% |
| Amounts payable after more than one year | 17 | €469,682 | €452,130 | -€17,552 | -3.7% |
| Financial debts | 170/4 | €469,682 | €452,130 | -€17,552 | -3.7% |
| Amounts payable within one year | 42/48 | €357,765 | €656,135 | +€298,370 | +83.4% |
| Current portion of amounts payable after more than one year | 42 | €69,483 | €75,203 | +€5,720 | +8.2% |
| Financial debts | 43 | €8,247 | €8,247 | = | 0.0% |
| Credit institutions | 430/8 | €8,247 | €8,247 | = | 0.0% |
| Trade debts | 44 | €257,249 | €298,839 | +€41,590 | +16.2% |
| Suppliers | 440/4 | €257,249 | €298,839 | +€41,590 | +16.2% |
| Taxes, remuneration and social security | 45 | €7,122 | - | -€7,122 | |
| Taxes | 450/3 | €7,122 | - | -€7,122 | |
| Other amounts payable | 47/48 | €15,664 | €273,845 | +€258,181 | +1,648% |
| Accrued charges and deferred income | 492/3 | €298,034 | €280,263 | -€17,771 | -6.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €81,062 | €66,892 | -€14,170 | -17.5% |
| Other operating charges | 640/8 | €6,208 | €2,593 | -€3,615 | -58.2% |
| Non-recurring operating charges | 66A | €11,261 | - | -€11,261 | |
| Gross operating margin | 9900 | €373,634 | €496,212 | +€122,578 | +32.8% |
| Operating profit (loss) | 9901 | €275,102 | €426,727 | +€151,625 | +55.1% |
| Financial income | 75/76B | €30,711 | €817 | -€29,895 | -97.3% |
| Recurring financial income | 75 | €15,950 | €817 | -€15,133 | -94.9% |
| Non-recurring financial income | 76B | €14,761 | - | -€14,761 | |
| Financial charges | 65/66B | €24,831 | €27,366 | +€2,535 | +10.2% |
| Recurring financial charges | 65 | €23,057 | €27,366 | +€4,308 | +18.7% |
| Non-recurring financial charges | 66B | €1,773 | - | -€1,773 | |
| Profit (loss) for the period before taxes | 9903 | €280,983 | €400,178 | +€119,195 | +42.4% |
| Income taxes | 67/77 | €64,286 | €78,105 | +€13,819 | +21.5% |
| Profit (loss) for the period | 9904 | €216,697 | €322,072 | +€105,376 | +48.6% |
| Profit (loss) for the period to be appropriated | 9905 | €216,697 | €322,072 | +€105,376 | +48.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.