E.M.O. PROJECTS: 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.O. PROJECTS
Largest movements
- Receivables after one year -€35,000
down €35,000 (-53.0%), from €66,000 to €31,000
- Tangible fixed assets +€10,279
up €10,279 (+517.3%), from €1,987 to €12,266
of which Other tangible fixed assets: +€10,652
- Cash -€8,559
down €8,559 (-71.7%), from €11,937 to €3,378
mainly Contributions, distributions and other (-€35,594) and Accrued charges and deferred income (-€21,170)
- Receivables within one year +€2,313
up €2,313 (+24.4%), from €9,475 to €11,789
of which Trade receivables: +€2,298
- Accrued charges and deferred income -€21,170
down €21,170 (-100.0%), from €21,170 to €0
- Other debts -€11,335
down €11,335 (-23.8%), from €47,725 to €36,390
- Tax, wage and social debts +€2,660
up €2,660 (+14.8%), from €17,916 to €20,576
- Current portion of long-term debt -€1,588
down €1,588 (-100.0%), from €1,588 to €0
- Gross operating margin +€27,350
up €27,350 (+121.0%), from €22,596 to €49,946
- Taxes +€5,368
up €5,368 (+96.7%), from €5,551 to €10,920
- Financial charges +€1,960
up €1,960 (+257.4%), from €762 to €2,722
- Depreciation -€1,072
down €1,072 (-62.6%), from €1,712 to €640
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 | €91,538 | €60,906 | -€30,632 | -33.5% |
| Fixed assets | 21/28 | €1,987 | €12,266 | +€10,279 | +517.3% |
| Tangible fixed assets | 22/27 | €1,987 | €12,266 | +€10,279 | +517.3% |
| Plant, machinery and equipment | 23 | €109 | €0 | -€109 | -100.0% |
| Furniture and vehicles | 24 | €264 | €0 | -€264 | -100.0% |
| Other tangible fixed assets | 26 | €1,614 | €12,266 | +€10,652 | +660.1% |
| Current assets | 29/58 | €89,551 | €48,641 | -€40,910 | -45.7% |
| Amounts receivable after more than one year | 29 | €66,000 | €31,000 | -€35,000 | -53.0% |
| Other amounts receivable | 291 | €66,000 | €31,000 | -€35,000 | -53.0% |
| Amounts receivable within one year | 40/41 | €9,475 | €11,789 | +€2,313 | +24.4% |
| Trade receivables | 40 | €9,475 | €11,773 | +€2,298 | +24.2% |
| Other amounts receivable | 41 | - | €16 | +€16 | |
| Cash at bank and in hand | 54/58 | €11,937 | €3,378 | -€8,559 | -71.7% |
| Deferred charges and accrued income | 490/1 | €2,139 | €2,474 | +€335 | +15.7% |
| Total equity and liabilities | 10/49 | €91,538 | €60,906 | -€30,632 | -33.5% |
| Equity | 10/15 | €2,500 | €2,500 | = | 0.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €89,038 | €58,406 | -€30,632 | -34.4% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €67,868 | €58,406 | -€9,462 | -13.9% |
| Current portion of amounts payable after more than one year | 42 | €1,588 | €0 | -€1,588 | -100.0% |
| Trade debts | 44 | €639 | €1,440 | +€801 | +125.4% |
| Suppliers | 440/4 | €639 | €1,440 | +€801 | +125.4% |
| Taxes, remuneration and social security | 45 | €17,916 | €20,576 | +€2,660 | +14.8% |
| Taxes | 450/3 | €17,916 | €20,576 | +€2,660 | +14.8% |
| Other amounts payable | 47/48 | €47,725 | €36,390 | -€11,335 | -23.8% |
| Accrued charges and deferred income | 492/3 | €21,170 | €0 | -€21,170 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,712 | €640 | -€1,072 | -62.6% |
| Other operating charges | 640/8 | €725 | €1,191 | +€466 | +64.3% |
| Gross operating margin | 9900 | €22,596 | €49,946 | +€27,350 | +121.0% |
| Operating profit (loss) | 9901 | €20,159 | €48,115 | +€27,957 | +138.7% |
| Financial income | 75/76B | €1,260 | €1,120 | -€140 | -11.1% |
| Recurring financial income | 75 | €1,260 | €1,120 | -€140 | -11.1% |
| Financial charges | 65/66B | €762 | €2,722 | +€1,960 | +257.4% |
| Recurring financial charges | 65 | €762 | €2,722 | +€1,960 | +257.4% |
| Profit (loss) for the period before taxes | 9903 | €20,657 | €46,513 | +€25,856 | +125.2% |
| Income taxes | 67/77 | €5,551 | €10,920 | +€5,368 | +96.7% |
| Profit (loss) for the period | 9904 | €15,106 | €35,594 | +€20,488 | +135.6% |
| Profit (loss) for the period to be appropriated | 9905 | €15,106 | €35,594 | +€20,488 | +135.6% |
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 11 October 2026 via checked.be.