Alexandre EMOND,Avocat: 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.
Alexandre EMOND,Avocat
Largest movements
- Current investments +€389,213
up €389,213 (+52.8%), from €737,204 to €1.1m
- Cash -€130,386
down €130,386 (-16.9%), from €772,680 to €642,295
mainly Contributions, distributions and other (-€790,236) and Current investments (-€389,213)
- Receivables within one year +€54,227
up €54,227 (+745%), from €7,274 to €61,501
of which Trade receivables: +€54,227
- Other debts +€643,623
up €643,623 (+411%), from €156,755 to €800,378
- Reserves -€377,150
down €377,150 (-23.6%), from €1.6m to €1.2m
of which Distributable reserves: -€377,150
- Tax, wage and social debts +€42,429
up €42,429 (+74.1%), from €57,227 to €99,656
- Gross operating margin +€26,968
up €26,968 (+4.6%), from €589,518 to €616,486
- Depreciation +€7,488
up €7,488 (+65.7%), from €11,395 to €18,883
- Taxes +€6,638
up €6,638 (+3.7%), from €180,871 to €187,509
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 | €1,836,862 | €2,141,482 | +€304,620 | +16.6% |
| Fixed assets | 21/28 | €98,509 | €79,627 | -€18,883 | -19.2% |
| Tangible fixed assets | 22/27 | €95,907 | €77,024 | -€18,883 | -19.7% |
| Furniture and vehicles | 24 | €69,272 | €53,854 | -€15,418 | -22.3% |
| Other tangible fixed assets | 26 | €26,634 | €23,170 | -€3,465 | -13.0% |
| Financial fixed assets | 28 | €2,603 | €2,603 | = | 0.0% |
| Current assets | 29/58 | €1,738,353 | €2,061,855 | +€323,503 | +18.6% |
| Amounts receivable within one year | 40/41 | €7,274 | €61,501 | +€54,227 | +745% |
| Trade receivables | 40 | €7,274 | €61,501 | +€54,227 | +745% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €737,204 | €1,126,417 | +€389,213 | +52.8% |
| Cash at bank and in hand | 54/58 | €772,680 | €642,295 | -€130,386 | -16.9% |
| Deferred charges and accrued income | 490/1 | €221,194 | €231,642 | +€10,449 | +4.7% |
| Total equity and liabilities | 10/49 | €1,836,862 | €2,141,482 | +€304,620 | +16.6% |
| Equity | 10/15 | €1,612,788 | €1,235,639 | -€377,150 | -23.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,597,377 | €1,220,227 | -€377,150 | -23.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,597,377 | €1,220,227 | -€377,150 | -23.6% |
| Profit (loss) carried forward | 14 | €3,011 | €3,011 | = | 0.0% |
| Amounts payable | 17/49 | €224,074 | €905,843 | +€681,769 | +304% |
| Amounts payable within one year | 42/48 | €224,074 | €905,843 | +€681,769 | +304% |
| Financial debts | 43 | €488 | €431 | -€57 | -11.7% |
| Other loans | 439 | €488 | €431 | -€57 | -11.7% |
| Trade debts | 44 | €9,604 | €5,379 | -€4,226 | -44.0% |
| Suppliers | 440/4 | €9,604 | €5,379 | -€4,226 | -44.0% |
| Taxes, remuneration and social security | 45 | €57,227 | €99,656 | +€42,429 | +74.1% |
| Taxes | 450/3 | €57,227 | €99,656 | +€42,429 | +74.1% |
| Other amounts payable | 47/48 | €156,755 | €800,378 | +€643,623 | +411% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €4 | €296 | +€292 | +7,440% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,395 | €18,883 | +€7,488 | +65.7% |
| Other operating charges | 640/8 | €5,746 | €1,474 | -€4,272 | -74.3% |
| Non-recurring operating charges | 66A | €4 | €0 | -€4 | -88.7% |
| Gross operating margin | 9900 | €589,518 | €616,486 | +€26,968 | +4.6% |
| Operating profit (loss) | 9901 | €572,373 | €596,128 | +€23,755 | +4.2% |
| Financial income | 75/76B | €9,763 | €12,756 | +€2,993 | +30.7% |
| Recurring financial income | 75 | €9,763 | €12,756 | +€2,993 | +30.7% |
| Financial charges | 65/66B | €8,282 | €8,289 | +€7 | +0.1% |
| Recurring financial charges | 65 | €8,282 | €8,289 | +€7 | +0.1% |
| Profit (loss) for the period before taxes | 9903 | €573,854 | €600,596 | +€26,742 | +4.7% |
| Income taxes | 67/77 | €180,871 | €187,509 | +€6,638 | +3.7% |
| Profit (loss) for the period | 9904 | €392,983 | €413,087 | +€20,103 | +5.1% |
| Profit (loss) for the period to be appropriated | 9905 | €392,983 | €413,087 | +€20,103 | +5.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.