E.M.Z.: 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.Z.
Largest movements
- Stocks and contracts -€10,475
down €10,475 (-58.3%), from €17,975 to €7,500
- Cash +€4,945
up €4,945 (+22.9%), from €21,559 to €26,504
mainly Net result for the year (+€11,715) and Stocks and contracts (+€10,475)
- Receivables within one year +€4,822
up €4,822 (+28.5%), from €16,909 to €21,731
of which Trade receivables: +€6,286
- Reserves +€11,715
up €11,715 (+16.4%), from €71,370 to €83,085
- Other debts -€6,299
down €6,299 (-33.5%), from €18,821 to €12,522
- Trade debts -€3,435
down €3,435 (-58.0%), from €5,922 to €2,488
- Tax, wage and social debts -€2,662
down €2,662 (-69.3%), from €3,841 to €1,179
of which Remuneration and social security: -€2,645
- Gross operating margin +€35,514
up €35,514, from -€21,411 to €14,102
- Taxes +€1,171
new in 2025: €1,171
- Other operating charges -€308
down €308 (-32.7%), from €941 to €633
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 | €57,005 | €56,324 | -€681 | -1.2% |
| Fixed assets | 21/28 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €0 | €0 | = | |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €57,005 | €56,324 | -€681 | -1.2% |
| Stocks and contracts in progress | 3 | €17,975 | €7,500 | -€10,475 | -58.3% |
| Stocks | 30/36 | €17,975 | €7,500 | -€10,475 | -58.3% |
| Amounts receivable within one year | 40/41 | €16,909 | €21,731 | +€4,822 | +28.5% |
| Trade receivables | 40 | €14,617 | €20,903 | +€6,286 | +43.0% |
| Other amounts receivable | 41 | €2,292 | €829 | -€1,464 | -63.9% |
| Cash at bank and in hand | 54/58 | €21,559 | €26,504 | +€4,945 | +22.9% |
| Deferred charges and accrued income | 490/1 | €562 | €589 | +€27 | +4.8% |
| Total equity and liabilities | 10/49 | €57,005 | €56,324 | -€681 | -1.2% |
| Equity | 10/15 | €28,421 | €40,136 | +€11,715 | +41.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €71,370 | €83,085 | +€11,715 | +16.4% |
| Distributable reserves | 133 | €71,370 | €83,085 | +€11,715 | +16.4% |
| Profit (loss) carried forward | 14 | -€49,149 | -€49,149 | = | 0.0% |
| Amounts payable | 17/49 | €28,584 | €16,189 | -€12,395 | -43.4% |
| Amounts payable within one year | 42/48 | €28,584 | €16,189 | -€12,395 | -43.4% |
| Trade debts | 44 | €5,922 | €2,488 | -€3,435 | -58.0% |
| Suppliers | 440/4 | €5,922 | €2,488 | -€3,435 | -58.0% |
| Taxes, remuneration and social security | 45 | €3,841 | €1,179 | -€2,662 | -69.3% |
| Taxes | 450/3 | €1,196 | €1,179 | -€17 | -1.4% |
| Remuneration and social security | 454/9 | €2,645 | - | -€2,645 | |
| Other amounts payable | 47/48 | €18,821 | €12,522 | -€6,299 | -33.5% |
| Non-recurring operating income | 76A | €826 | - | -€826 | |
| Other operating charges | 640/8 | €941 | €633 | -€308 | -32.7% |
| Gross operating margin | 9900 | -€21,411 | €14,102 | +€35,514 | |
| Operating profit (loss) | 9901 | -€22,352 | €13,469 | +€35,822 | |
| Financial income | 75/76B | €15 | €25 | +€10 | +70.9% |
| Recurring financial income | 75 | €15 | €25 | +€10 | +70.9% |
| Financial charges | 65/66B | €657 | €608 | -€49 | -7.5% |
| Recurring financial charges | 65 | €657 | €608 | -€49 | -7.5% |
| Profit (loss) for the period before taxes | 9903 | -€22,995 | €12,886 | +€35,881 | |
| Income taxes | 67/77 | - | €1,171 | +€1,171 | |
| Profit (loss) for the period | 9904 | -€22,995 | €11,715 | +€34,710 | |
| Profit (loss) for the period to be appropriated | 9905 | -€22,995 | €11,715 | +€34,710 |
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 25 October 2026 via checked.be.