E.M.C.: 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.
E.M.C.
Largest movements
- Cash +€13,716
up €13,716 (+398%), from €3,448 to €17,164
mainly Net result for the year (+€6,347) and Tax, wage and social debts (+€4,244)
- Stocks and contracts -€3,260
down €3,260 (-16.7%), from €19,488 to €16,228
of which Contracts in progress: -€4,510
- Receivables within one year -€3,158
down €3,158 (-1.9%), from €169,862 to €166,704
of which Other amounts receivable: -€2,331
- Tangible fixed assets -€2,229
down €2,229 (-11.4%), from €19,625 to €17,396
of which Plant, machinery and equipment: -€3,868
- Other debts -€6,425
down €6,425 (-14.5%), from €44,412 to €37,987
- Profit (loss) carried forward +€6,347
up €6,347 (+9.9%), from €63,910 to €70,257
- Tax, wage and social debts +€4,244
new in 2025: €4,244
- Gross operating margin +€2,939
up €2,939 (+28.5%), from €10,298 to €13,237
- Taxes +€2,116
new in 2025: €2,116
- Depreciation -€1,867
down €1,867 (-31.4%), from €5,949 to €4,082
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 | €213,347 | €217,953 | +€4,606 | +2.2% |
| Fixed assets | 21/28 | €19,625 | €17,396 | -€2,229 | -11.4% |
| Tangible fixed assets | 22/27 | €19,625 | €17,396 | -€2,229 | -11.4% |
| Plant, machinery and equipment | 23 | €19,625 | €15,757 | -€3,868 | -19.7% |
| Furniture and vehicles | 24 | - | €1,639 | +€1,639 | |
| Current assets | 29/58 | €193,722 | €200,557 | +€6,835 | +3.5% |
| Amounts receivable after more than one year | 29 | €592 | - | -€592 | |
| Other amounts receivable | 291 | €592 | - | -€592 | |
| Stocks and contracts in progress | 3 | €19,488 | €16,228 | -€3,260 | -16.7% |
| Stocks | 30/36 | €11,478 | €12,728 | +€1,250 | +10.9% |
| Contracts in progress | 37 | €8,010 | €3,500 | -€4,510 | -56.3% |
| Amounts receivable within one year | 40/41 | €169,862 | €166,704 | -€3,158 | -1.9% |
| Trade receivables | 40 | €167,531 | €166,704 | -€827 | -0.5% |
| Other amounts receivable | 41 | €2,331 | - | -€2,331 | |
| Cash at bank and in hand | 54/58 | €3,448 | €17,164 | +€13,716 | +398% |
| Deferred charges and accrued income | 490/1 | €332 | €461 | +€130 | +39.0% |
| Total equity and liabilities | 10/49 | €213,347 | €217,953 | +€4,606 | +2.2% |
| Equity | 10/15 | €168,935 | €175,282 | +€6,347 | +3.8% |
| Contributions | 10/11 | €59,500 | €59,500 | = | 0.0% |
| Reserves | 13 | €45,525 | €45,525 | = | 0.0% |
| Distributable reserves | 133 | €45,525 | €45,525 | = | 0.0% |
| Profit (loss) carried forward | 14 | €63,910 | €70,257 | +€6,347 | +9.9% |
| Amounts payable | 17/49 | €44,412 | €42,671 | -€1,741 | -3.9% |
| Amounts payable within one year | 42/48 | €44,412 | €42,671 | -€1,741 | -3.9% |
| Trade debts | 44 | - | €440 | +€440 | |
| Suppliers | 440/4 | - | €440 | +€440 | |
| Taxes, remuneration and social security | 45 | - | €4,244 | +€4,244 | |
| Taxes | 450/3 | - | €4,244 | +€4,244 | |
| Other amounts payable | 47/48 | €44,412 | €37,987 | -€6,425 | -14.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,949 | €4,082 | -€1,867 | -31.4% |
| Other operating charges | 640/8 | €669 | €688 | +€20 | +2.9% |
| Non-recurring operating charges | 66A | €100 | - | -€100 | |
| Gross operating margin | 9900 | €10,298 | €13,237 | +€2,939 | +28.5% |
| Operating profit (loss) | 9901 | €3,580 | €8,468 | +€4,887 | +137% |
| Financial income | 75/76B | €0 | €42 | +€42 | +208,200% |
| Recurring financial income | 75 | €0 | €42 | +€42 | +208,200% |
| Non-recurring financial income | 76B | €0 | - | -€0 | |
| Financial charges | 65/66B | €46 | €46 | = | 0.0% |
| Recurring financial charges | 65 | €46 | €46 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €3,534 | €8,463 | +€4,929 | +139% |
| Income taxes | 67/77 | - | €2,116 | +€2,116 | |
| Profit (loss) for the period | 9904 | €3,534 | €6,347 | +€2,813 | +79.6% |
| Profit (loss) for the period to be appropriated | 9905 | €3,534 | €6,347 | +€2,813 | +79.6% |
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 22 October 2026 via checked.be.