Dr. EMMERY Peter: 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.
Dr. EMMERY Peter
Largest movements
- Tangible fixed assets -€23,750
down €23,750 (-10.3%), from €229,532 to €205,781
of which Land and buildings: -€26,956
- Current investments +€18,000
up €18,000 (+31.2%), from €57,754 to €75,753
- Cash -€16,240
down €16,240 (-31.3%), from €51,946 to €35,706
mainly Contributions, distributions and other (-€44,258) and Investment in fixed assets (net) (-€24,079)
- Deferred charges and accrued income +€6,167
up €6,167 (+242%), from €2,551 to €8,718
- Debts after one year -€22,554
down €22,554 (-20.3%), from €111,180 to €88,627
- Other debts +€21,742
new in 2025: €21,742
- Reserves -€10,811
down €10,811 (-5.8%), from €187,230 to €176,419
- Tax, wage and social debts -€4,178
down €4,178 (-23.2%), from €18,005 to €13,827
- Gross operating margin -€27,366
down €27,366 (-21.5%), from €127,167 to €99,802
- Depreciation +€14,361
up €14,361 (+42.9%), from €33,469 to €47,829
- Taxes -€12,053
down €12,053 (-46.7%), from €25,827 to €13,775
- Financial charges +€1,691
up €1,691 (+95.4%), from €1,773 to €3,464
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 | €344,326 | €328,184 | -€16,143 | -4.7% |
| Fixed assets | 21/28 | €229,532 | €205,781 | -€23,750 | -10.3% |
| Tangible fixed assets | 22/27 | €229,532 | €205,781 | -€23,750 | -10.3% |
| Land and buildings | 22 | €136,862 | €109,906 | -€26,956 | -19.7% |
| Furniture and vehicles | 24 | €92,670 | €95,875 | +€3,206 | +3.5% |
| Current assets | 29/58 | €114,795 | €122,402 | +€7,608 | +6.6% |
| Amounts receivable within one year | 40/41 | €2,544 | €2,225 | -€319 | -12.5% |
| Other amounts receivable | 41 | €2,544 | €2,225 | -€319 | -12.5% |
| Current investments | 50/53 | €57,754 | €75,753 | +€18,000 | +31.2% |
| Cash at bank and in hand | 54/58 | €51,946 | €35,706 | -€16,240 | -31.3% |
| Deferred charges and accrued income | 490/1 | €2,551 | €8,718 | +€6,167 | +242% |
| Total equity and liabilities | 10/49 | €344,326 | €328,184 | -€16,143 | -4.7% |
| Equity | 10/15 | €188,230 | €177,419 | -€10,811 | -5.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €187,230 | €176,419 | -€10,811 | -5.8% |
| Distributable reserves | 133 | €187,230 | €176,419 | -€10,811 | -5.8% |
| Amounts payable | 17/49 | €156,097 | €150,765 | -€5,332 | -3.4% |
| Amounts payable after more than one year | 17 | €111,180 | €88,627 | -€22,554 | -20.3% |
| Financial debts | 170/4 | €111,180 | €88,627 | -€22,554 | -20.3% |
| Amounts payable within one year | 42/48 | €44,776 | €62,138 | +€17,362 | +38.8% |
| Current portion of amounts payable after more than one year | 42 | €21,647 | €22,554 | +€907 | +4.2% |
| Trade debts | 44 | €5,124 | €4,015 | -€1,109 | -21.6% |
| Suppliers | 440/4 | €5,124 | €4,015 | -€1,109 | -21.6% |
| Taxes, remuneration and social security | 45 | €18,005 | €13,827 | -€4,178 | -23.2% |
| Taxes | 450/3 | €18,005 | €13,827 | -€4,178 | -23.2% |
| Other amounts payable | 47/48 | - | €21,742 | +€21,742 | |
| Accrued charges and deferred income | 492/3 | €140 | - | -€140 | |
| Non-recurring operating income | 76A | €7,500 | - | -€7,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,469 | €47,829 | +€14,361 | +42.9% |
| Other operating charges | 640/8 | €1,276 | €1,376 | +€100 | +7.9% |
| Gross operating margin | 9900 | €127,167 | €99,802 | -€27,366 | -21.5% |
| Operating profit (loss) | 9901 | €92,422 | €50,596 | -€41,827 | -45.3% |
| Financial income | 75/76B | - | €90 | +€90 | |
| Recurring financial income | 75 | - | €90 | +€90 | |
| Financial charges | 65/66B | €1,773 | €3,464 | +€1,691 | +95.4% |
| Recurring financial charges | 65 | €1,773 | €3,464 | +€1,691 | +95.4% |
| Profit (loss) for the period before taxes | 9903 | €90,649 | €47,222 | -€43,427 | -47.9% |
| Income taxes | 67/77 | €25,827 | €13,775 | -€12,053 | -46.7% |
| Profit (loss) for the period | 9904 | €64,822 | €33,447 | -€31,375 | -48.4% |
| Profit (loss) for the period to be appropriated | 9905 | €64,822 | €33,447 | -€31,375 | -48.4% |
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 28 October 2026 via checked.be.