E.M.K.B.: 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.K.B.
Largest movements
- Receivables after one year +€298,056
up €298,056 (+69.0%), from €431,800 to €729,856
- Tangible fixed assets +€181,287
up €181,287 (+531%), from €34,133 to €215,420
- Receivables within one year -€136,666
down €136,666 (-60.0%), from €227,945 to €91,278
of which Trade receivables: -€101,688
- Cash +€16,185
up €16,185 (+14.2%), from €113,908 to €130,093
mainly Other debts (+€3.0m) and Net result for the year (+€1.3m)
- Short-term financial debts -€4.1m
down €4.1m (-99.9%), from €4.1m to €3,645
- Other debts +€3.0m
up €3.0m (+13.4%), from €22.5m to €25.5m
- Profit (loss) carried forward +€1.3m
up €1.3m (+5.1%), from -€25.8m to -€24.5m
- Debts after one year +€54,087
new in 2025: €54,087
- Tax, wage and social debts +€28,008
up €28,008 (+1,556%), from €1,800 to €29,808
- Financial charges -€22.6m
down €22.6m (-99.7%), from €22.7m to €65,293
of which Financial charges: -€22.6m
- Gross operating margin +€911,789
up €911,789 (+154%), from €591,051 to €1.5m
- Write-downs -€132,000
down €132,000 (-100%), from €132,000 to €0
- Other operating charges +€38,521
up €38,521 (+857%), from €4,496 to €43,017
- Depreciation +€28,722
up €28,722 (+234%), from €12,281 to €41,003
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 | €827,057 | €1,186,879 | +€359,822 | +43.5% |
| Fixed assets | 21/28 | €48,633 | €229,920 | +€181,287 | +373% |
| Tangible fixed assets | 22/27 | €34,133 | €215,420 | +€181,287 | +531% |
| Furniture and vehicles | 24 | €34,133 | €215,420 | +€181,287 | +531% |
| Financial fixed assets | 28 | €14,500 | €14,500 | = | 0.0% |
| Current assets | 29/58 | €778,424 | €956,959 | +€178,535 | +22.9% |
| Amounts receivable after more than one year | 29 | €431,800 | €729,856 | +€298,056 | +69.0% |
| Other amounts receivable | 291 | €431,800 | €729,856 | +€298,056 | +69.0% |
| Amounts receivable within one year | 40/41 | €227,945 | €91,278 | -€136,666 | -60.0% |
| Trade receivables | 40 | €190,777 | €89,089 | -€101,688 | -53.3% |
| Other amounts receivable | 41 | €37,168 | €2,189 | -€34,979 | -94.1% |
| Cash at bank and in hand | 54/58 | €113,908 | €130,093 | +€16,185 | +14.2% |
| Deferred charges and accrued income | 490/1 | €4,771 | €5,732 | +€961 | +20.1% |
| Total equity and liabilities | 10/49 | €827,057 | €1,186,879 | +€359,822 | +43.5% |
| Equity | 10/15 | -€25,720,116 | -€24,396,396 | +€1.3m | +5.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €59,734 | €59,734 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €16,494 | €16,494 | = | 0.0% |
| Distributable reserves | 133 | €43,241 | €43,241 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€25,798,450 | -€24,474,731 | +€1.3m | +5.1% |
| Amounts payable | 17/49 | €26,547,173 | €25,583,276 | -€963,897 | -3.6% |
| Amounts payable after more than one year | 17 | - | €54,087 | +€54,087 | |
| Financial debts | 170/4 | - | €54,087 | +€54,087 | |
| Amounts payable within one year | 42/48 | €26,547,173 | €25,528,551 | -€1.0m | -3.8% |
| Current portion of amounts payable after more than one year | 42 | €0 | €21,809 | +€21,809 | |
| Financial debts | 43 | €4,057,299 | €3,645 | -€4.1m | -99.9% |
| Credit institutions | 430/8 | €4,057,299 | €3,645 | -€4.1m | -99.9% |
| Trade debts | 44 | €21,500 | €4,672 | -€16,828 | -78.3% |
| Suppliers | 440/4 | €21,500 | €4,672 | -€16,828 | -78.3% |
| Taxes, remuneration and social security | 45 | €1,800 | €29,808 | +€28,008 | +1,556% |
| Taxes | 450/3 | €1,800 | €29,808 | +€28,008 | +1,556% |
| Other amounts payable | 47/48 | €22,466,574 | €25,468,618 | +€3.0m | +13.4% |
| Accrued charges and deferred income | 492/3 | - | €637 | +€637 | |
| Non-recurring operating income | 76A | €13,074 | €25,000 | +€11,926 | +91.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,281 | €41,003 | +€28,722 | +234% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €132,000 | €0 | -€132,000 | -100% |
| Other operating charges | 640/8 | €4,496 | €43,017 | +€38,521 | +857% |
| Gross operating margin | 9900 | €591,051 | €1,502,840 | +€911,789 | +154% |
| Operating profit (loss) | 9901 | €442,274 | €1,418,820 | +€976,546 | +221% |
| Financial charges | 65/66B | €22,683,711 | €65,293 | -€22.6m | -99.7% |
| Recurring financial charges | 65 | €22,683,707 | €65,293 | -€22.6m | -99.7% |
| Non-recurring financial charges | 66B | €4 | €0 | -€4 | -100% |
| Profit (loss) for the period before taxes | 9903 | -€22,241,437 | €1,353,527 | +€23.6m | |
| Income taxes | 67/77 | €1,800 | €29,808 | +€28,008 | +1,556% |
| Profit (loss) for the period | 9904 | -€22,243,237 | €1,323,719 | +€23.6m | |
| Profit (loss) for the period to be appropriated | 9905 | -€22,243,237 | €1,323,719 | +€23.6m |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.