E.M.J.: what changed
Two fiscal 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.J.
Largest movements
- Receivables within one year -€13,350
down €13,350 (-70.9%), from €18,828 to €5,478
of which Trade receivables: -€15,828
- Tangible fixed assets -€8,815
down €8,815 (-75.0%), from €11,754 to €2,938
- Cash +€8,649
up €8,649 (+646.8%), from €1,337 to €9,987
mainly Receivables within one year (+€13,350) and Depreciation (+€8,815)
- Deferred charges and accrued income -€3,404
no longer reported in 2025 (was €3,404)
- Profit (loss) carried forward -€6,632
down €6,632 (-40.3%), from -€16,437 to -€23,068
- Tax, wage and social debts -€6,490
down €6,490 (-39.3%), from €16,498 to €10,008
of which Taxes: -€6,675
- Trade debts -€3,259
down €3,259 (-92.8%), from €3,510 to €251
- Other debts -€540
down €540 (-9.5%), from €5,702 to €5,162
- Staff costs +€3,437
up €3,437 (+9.7%), from €35,267 to €38,703
- Gross operating margin +€2,208
up €2,208 (+5.2%), from €42,572 to €44,780
- Other operating charges +€1,018
up €1,018 (+56.0%), from €1,818 to €2,836
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.
Cash bridge derived
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 | €46,196 | €29,276 | -€16,920 | -36.6% |
| Fixed assets | 21/28 | €11,754 | €2,938 | -€8,815 | -75.0% |
| Tangible fixed assets | 22/27 | €11,754 | €2,938 | -€8,815 | -75.0% |
| Furniture and vehicles | 24 | €11,754 | €2,938 | -€8,815 | -75.0% |
| Current assets | 29/58 | €34,442 | €26,337 | -€8,105 | -23.5% |
| Stocks and contracts in progress | 3 | €10,873 | €10,873 | = | 0.0% |
| Stocks | 30/36 | €10,873 | €10,873 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €18,828 | €5,478 | -€13,350 | -70.9% |
| Trade receivables | 40 | €18,828 | €3,000 | -€15,828 | -84.1% |
| Other amounts receivable | 41 | - | €2,478 | +€2,478 | |
| Cash at bank and in hand | 54/58 | €1,337 | €9,987 | +€8,649 | +646.8% |
| Deferred charges and accrued income | 490/1 | €3,404 | - | -€3,404 | |
| Total equity and liabilities | 10/49 | €46,196 | €29,276 | -€16,920 | -36.6% |
| Equity | 10/15 | €20,486 | €13,854 | -€6,632 | -32.4% |
| Contributions | 10/11 | €17,205 | €17,205 | = | 0.0% |
| Reserves | 13 | €19,718 | €19,718 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,753 | €2,753 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,753 | €2,753 | = | 0.0% |
| Distributable reserves | 133 | €16,965 | €16,965 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,437 | -€23,068 | -€6,632 | -40.3% |
| Amounts payable | 17/49 | €25,710 | €15,422 | -€10,288 | -40.0% |
| Amounts payable within one year | 42/48 | €25,710 | €15,422 | -€10,288 | -40.0% |
| Trade debts | 44 | €3,510 | €251 | -€3,259 | -92.8% |
| Suppliers | 440/4 | €3,510 | €251 | -€3,259 | -92.8% |
| Taxes, remuneration and social security | 45 | €16,498 | €10,008 | -€6,490 | -39.3% |
| Taxes | 450/3 | €9,848 | €3,173 | -€6,675 | -67.8% |
| Remuneration and social security | 454/9 | €6,650 | €6,835 | +€185 | +2.8% |
| Other amounts payable | 47/48 | €5,702 | €5,162 | -€540 | -9.5% |
| Remuneration, social security and pensions | 62 | €35,267 | €38,703 | +€3,437 | +9.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,815 | €8,815 | = | 0.0% |
| Other operating charges | 640/8 | €1,818 | €2,836 | +€1,018 | +56.0% |
| Gross operating margin | 9900 | €42,572 | €44,780 | +€2,208 | +5.2% |
| Operating profit (loss) | 9901 | -€3,328 | -€5,574 | -€2,247 | -67.5% |
| Financial charges | 65/66B | €427 | €743 | +€316 | +74.2% |
| Recurring financial charges | 65 | €427 | €743 | +€316 | +74.2% |
| Profit (loss) for the period before taxes | 9903 | -€3,754 | -€6,317 | -€2,563 | -68.3% |
| Income taxes | 67/77 | - | €315 | +€315 | |
| Profit (loss) for the period | 9904 | -€3,754 | -€6,632 | -€2,878 | -76.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,754 | -€6,632 | -€2,878 | -76.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.