E.M.T.2: 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.T.2
Largest movements
- Current investments +€250,000
new in 2025: €250,000
- Tangible fixed assets -€136,834
down €136,834 (-23.1%), from €591,272 to €454,438
of which Land and buildings: -€147,574
- Cash -€11,779
down €11,779 (-12.4%), from €94,906 to €83,128
mainly Current investments (-€250,000) and Debts after one year (-€30,791)
- Reserves +€116,628
up €116,628 (+28.6%), from €408,033 to €524,661
- Debts after one year -€30,791
down €30,791 (-13.5%), from €228,152 to €197,361
- Gross operating margin +€122,898
up €122,898 (+44.9%), from €273,872 to €396,770
- Taxes +€47,293
up €47,293 (+259%), from €18,288 to €65,581
- Staff costs -€26,649
down €26,649 (-17.0%), from €157,086 to €130,437
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 | €738,967 | €831,347 | +€92,380 | +12.5% |
| Fixed assets | 21/28 | €591,957 | €455,123 | -€136,834 | -23.1% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €591,272 | €454,438 | -€136,834 | -23.1% |
| Land and buildings | 22 | €563,356 | €415,782 | -€147,574 | -26.2% |
| Plant, machinery and equipment | 23 | €12,599 | €14,047 | +€1,448 | +11.5% |
| Furniture and vehicles | 24 | €10,752 | €21,186 | +€10,433 | +97.0% |
| Other tangible fixed assets | 26 | €4,564 | €3,423 | -€1,141 | -25.0% |
| Financial fixed assets | 28 | €685 | €685 | = | 0.0% |
| Current assets | 29/58 | €147,010 | €376,224 | +€229,214 | +156% |
| Amounts receivable within one year | 40/41 | €5,828 | €2,142 | -€3,685 | -63.2% |
| Other amounts receivable | 41 | €5,828 | €2,142 | -€3,685 | -63.2% |
| Current investments | 50/53 | - | €250,000 | +€250,000 | |
| Cash at bank and in hand | 54/58 | €94,906 | €83,128 | -€11,779 | -12.4% |
| Deferred charges and accrued income | 490/1 | €46,276 | €40,954 | -€5,322 | -11.5% |
| Total equity and liabilities | 10/49 | €738,967 | €831,347 | +€92,380 | +12.5% |
| Equity | 10/15 | €426,633 | €543,261 | +€116,628 | +27.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €408,033 | €524,661 | +€116,628 | +28.6% |
| Distributable reserves | 133 | €408,033 | €524,661 | +€116,628 | +28.6% |
| Amounts payable | 17/49 | €312,334 | €288,087 | -€24,248 | -7.8% |
| Amounts payable after more than one year | 17 | €228,152 | €197,361 | -€30,791 | -13.5% |
| Financial debts | 170/4 | €228,152 | €197,361 | -€30,791 | -13.5% |
| Amounts payable within one year | 42/48 | €84,183 | €90,726 | +€6,543 | +7.8% |
| Current portion of amounts payable after more than one year | 42 | €30,647 | €30,791 | +€144 | +0.5% |
| Trade debts | 44 | €14,759 | €19,419 | +€4,661 | +31.6% |
| Suppliers | 440/4 | €14,759 | €19,419 | +€4,661 | +31.6% |
| Taxes, remuneration and social security | 45 | €29,248 | €27,223 | -€2,025 | -6.9% |
| Taxes | 450/3 | €187 | €237 | +€50 | +26.5% |
| Remuneration and social security | 454/9 | €29,061 | €26,986 | -€2,075 | -7.1% |
| Other amounts payable | 47/48 | €9,529 | €13,293 | +€3,764 | +39.5% |
| Non-recurring operating income | 76A | €2,050 | €84,325 | +€82,275 | +4,013% |
| Remuneration, social security and pensions | 62 | €157,086 | €130,437 | -€26,649 | -17.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,911 | €45,541 | -€3,370 | -6.9% |
| Other operating charges | 640/8 | €3,840 | €2,919 | -€921 | -24.0% |
| Gross operating margin | 9900 | €273,872 | €396,770 | +€122,898 | +44.9% |
| Operating profit (loss) | 9901 | €64,034 | €217,873 | +€153,839 | +240% |
| Financial income | 75/76B | €389 | €752 | +€363 | +93.2% |
| Recurring financial income | 75 | €389 | €752 | +€363 | +93.2% |
| Financial charges | 65/66B | €7,988 | €6,638 | -€1,350 | -16.9% |
| Recurring financial charges | 65 | €7,988 | €6,638 | -€1,350 | -16.9% |
| Profit (loss) for the period before taxes | 9903 | €56,436 | €211,987 | +€155,552 | +276% |
| Income taxes | 67/77 | €18,288 | €65,581 | +€47,293 | +259% |
| Profit (loss) for the period | 9904 | €38,148 | €146,407 | +€108,259 | +284% |
| Profit (loss) for the period to be appropriated | 9905 | €38,148 | €146,407 | +€108,259 | +284% |
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 17 October 2026 via checked.be.