DRAUX EMMANUEL: 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.
DRAUX EMMANUEL
Largest movements
- Tangible fixed assets -€45,207
down €45,207 (-37.0%), from €122,286 to €77,079
of which Furniture and vehicles: -€22,782
- Receivables within one year -€5,080
down €5,080 (-24.8%), from €20,518 to €15,437
of which Trade receivables: -€6,321
- Stocks and contracts -€5,062
down €5,062 (-80.0%), from €6,331 to €1,269
- Cash -€1,854
down €1,854 (-38.3%), from €4,846 to €2,992
mainly Net result for the year (-€33,194) and Debts after one year (-€18,435)
- Reserves -€33,194
down €33,194 (-93.6%), from €35,462 to €2,268
- Debts after one year -€18,435
down €18,435 (-31.9%), from €57,773 to €39,338
- Short-term financial debts -€8,410
down €8,410 (-35.8%), from €23,485 to €15,075
- Tax, wage and social debts +€3,228
up €3,228 (+1,406%), from €230 to €3,458
- Gross operating margin -€14,348
down €14,348 (-42.4%), from €33,805 to €19,457
- Depreciation +€4,228
up €4,228 (+10.1%), from €41,970 to €46,198
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 | €154,754 | €96,915 | -€57,839 | -37.4% |
| Fixed assets | 21/28 | €122,940 | €77,129 | -€45,811 | -37.3% |
| Tangible fixed assets | 22/27 | €122,286 | €77,079 | -€45,207 | -37.0% |
| Plant, machinery and equipment | 23 | €26,854 | €19,226 | -€7,627 | -28.4% |
| Furniture and vehicles | 24 | €39,169 | €16,387 | -€22,782 | -58.2% |
| Leasing and similar rights | 25 | €56,264 | €41,466 | -€14,798 | -26.3% |
| Financial fixed assets | 28 | €654 | €50 | -€604 | -92.4% |
| Current assets | 29/58 | €31,814 | €19,786 | -€12,028 | -37.8% |
| Stocks and contracts in progress | 3 | €6,331 | €1,269 | -€5,062 | -80.0% |
| Stocks | 30/36 | €6,331 | €1,269 | -€5,062 | -80.0% |
| Amounts receivable within one year | 40/41 | €20,518 | €15,437 | -€5,080 | -24.8% |
| Trade receivables | 40 | €19,592 | €13,271 | -€6,321 | -32.3% |
| Other amounts receivable | 41 | €926 | €2,167 | +€1,241 | +134% |
| Cash at bank and in hand | 54/58 | €4,846 | €2,992 | -€1,854 | -38.3% |
| Deferred charges and accrued income | 490/1 | €120 | €88 | -€31 | -26.2% |
| Total equity and liabilities | 10/49 | €154,754 | €96,915 | -€57,839 | -37.4% |
| Equity | 10/15 | €47,862 | €14,668 | -€33,194 | -69.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €35,462 | €2,268 | -€33,194 | -93.6% |
| Distributable reserves | 133 | €35,462 | €2,268 | -€33,194 | -93.6% |
| Amounts payable | 17/49 | €106,892 | €82,247 | -€24,645 | -23.1% |
| Amounts payable after more than one year | 17 | €57,773 | €39,338 | -€18,435 | -31.9% |
| Financial debts | 170/4 | €57,773 | €39,338 | -€18,435 | -31.9% |
| Amounts payable within one year | 42/48 | €49,118 | €42,909 | -€6,210 | -12.6% |
| Current portion of amounts payable after more than one year | 42 | €19,102 | €18,435 | -€667 | -3.5% |
| Financial debts | 43 | €23,485 | €15,075 | -€8,410 | -35.8% |
| Credit institutions | 430/8 | €23,485 | €15,075 | -€8,410 | -35.8% |
| Trade debts | 44 | €6,301 | €5,941 | -€361 | -5.7% |
| Suppliers | 440/4 | €6,301 | €5,941 | -€361 | -5.7% |
| Taxes, remuneration and social security | 45 | €230 | €3,458 | +€3,228 | +1,406% |
| Taxes | 450/3 | €230 | €3,458 | +€3,228 | +1,406% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,970 | €46,198 | +€4,228 | +10.1% |
| Gross operating margin | 9900 | €33,805 | €19,457 | -€14,348 | -42.4% |
| Operating profit (loss) | 9901 | -€8,165 | -€26,741 | -€18,576 | -228% |
| Financial income | 75/76B | €177 | €134 | -€43 | -24.4% |
| Recurring financial income | 75 | €177 | €99 | -€78 | -43.8% |
| Non-recurring financial income | 76B | - | €34 | +€34 | |
| Financial charges | 65/66B | €6,908 | €6,587 | -€321 | -4.6% |
| Recurring financial charges | 65 | €6,908 | €6,587 | -€321 | -4.6% |
| Profit (loss) for the period before taxes | 9903 | -€14,896 | -€33,194 | -€18,299 | -123% |
| Profit (loss) for the period | 9904 | -€14,896 | -€33,194 | -€18,299 | -123% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,896 | -€33,194 | -€18,299 | -123% |
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 30 October 2026 via checked.be.