E.M. CONSTRUCT: 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. CONSTRUCT
Largest movements
- Receivables within one year +€32,239
up €32,239 (+334%), from €9,649 to €41,888
of which Trade receivables: +€32,733
- Cash +€3,809
up €3,809 (+60.5%), from €6,292 to €10,100
mainly Net result for the year (+€19,950) and Tax, wage and social debts (+€18,825)
- Tangible fixed assets -€3,749
down €3,749 (-28.8%), from €13,003 to €9,254
of which Furniture and vehicles: -€5,298
- Profit (loss) carried forward +€19,950
up €19,950, from -€13,387 to €6,563
- Tax, wage and social debts +€18,825
up €18,825 (+1,182%), from €1,593 to €20,418
of which Remuneration and social security: +€9,465
- Other debts -€10,683
down €10,683 (-98.1%), from €10,895 to €212
- Trade debts +€6,925
up €6,925 (+41.9%), from €16,543 to €23,468
- Debts after one year -€3,828
down €3,828 (-34.2%), from €11,202 to €7,374
- Staff costs -€21,735
down €21,735 (-12.8%), from €169,953 to €148,218
- Gross operating margin -€8,511
down €8,511 (-4.4%), from €192,624 to €184,113
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 | €30,541 | €61,863 | +€31,322 | +103% |
| Fixed assets | 21/28 | €13,703 | €9,454 | -€4,249 | -31.0% |
| Tangible fixed assets | 22/27 | €13,003 | €9,254 | -€3,749 | -28.8% |
| Plant, machinery and equipment | 23 | €471 | €2,020 | +€1,549 | +329% |
| Furniture and vehicles | 24 | €12,532 | €7,234 | -€5,298 | -42.3% |
| Financial fixed assets | 28 | €700 | €200 | -€500 | -71.4% |
| Current assets | 29/58 | €16,838 | €52,409 | +€35,571 | +211% |
| Stocks and contracts in progress | 3 | €525 | - | -€525 | |
| Stocks | 30/36 | €525 | - | -€525 | |
| Amounts receivable within one year | 40/41 | €9,649 | €41,888 | +€32,239 | +334% |
| Trade receivables | 40 | - | €32,733 | +€32,733 | |
| Other amounts receivable | 41 | €9,649 | €9,156 | -€493 | -5.1% |
| Cash at bank and in hand | 54/58 | €6,292 | €10,100 | +€3,809 | +60.5% |
| Deferred charges and accrued income | 490/1 | €372 | €420 | +€49 | +13.1% |
| Total equity and liabilities | 10/49 | €30,541 | €61,863 | +€31,322 | +103% |
| Equity | 10/15 | -€13,387 | €6,563 | +€19,950 | |
| Profit (loss) carried forward | 14 | -€13,387 | €6,563 | +€19,950 | |
| Amounts payable | 17/49 | €43,928 | €55,300 | +€11,372 | +25.9% |
| Amounts payable after more than one year | 17 | €11,202 | €7,374 | -€3,828 | -34.2% |
| Financial debts | 170/4 | €11,202 | €7,374 | -€3,828 | -34.2% |
| Amounts payable within one year | 42/48 | €32,726 | €47,926 | +€15,200 | +46.4% |
| Current portion of amounts payable after more than one year | 42 | €3,695 | €3,828 | +€133 | +3.6% |
| Trade debts | 44 | €16,543 | €23,468 | +€6,925 | +41.9% |
| Suppliers | 440/4 | €16,543 | €23,468 | +€6,925 | +41.9% |
| Taxes, remuneration and social security | 45 | €1,593 | €20,418 | +€18,825 | +1,182% |
| Taxes | 450/3 | - | €9,360 | +€9,360 | |
| Remuneration and social security | 454/9 | €1,593 | €11,057 | +€9,465 | +594% |
| Other amounts payable | 47/48 | €10,895 | €212 | -€10,683 | -98.1% |
| Remuneration, social security and pensions | 62 | €169,953 | €148,218 | -€21,735 | -12.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,681 | €5,978 | +€1,296 | +27.7% |
| Other operating charges | 640/8 | €4,055 | €3,078 | -€977 | -24.1% |
| Gross operating margin | 9900 | €192,624 | €184,113 | -€8,511 | -4.4% |
| Operating profit (loss) | 9901 | €13,935 | €26,840 | +€12,905 | +92.6% |
| Financial income | 75/76B | €41 | €1 | -€40 | -98.4% |
| Recurring financial income | 75 | €41 | €1 | -€40 | -98.4% |
| Financial charges | 65/66B | €6,446 | €6,270 | -€176 | -2.7% |
| Recurring financial charges | 65 | €6,446 | €6,270 | -€176 | -2.7% |
| Profit (loss) for the period before taxes | 9903 | €7,530 | €20,571 | +€13,041 | +173% |
| Income taxes | 67/77 | €663 | €621 | -€42 | -6.3% |
| Profit (loss) for the period | 9904 | €6,867 | €19,950 | +€13,083 | +191% |
| Profit (loss) for the period to be appropriated | 9905 | €6,867 | €19,950 | +€13,083 | +191% |
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.