E.MM.A: 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.MM.A
Largest movements
- Tangible fixed assets -€40,142
down €40,142 (-5.8%), from €692,118 to €651,976
- Cash +€9,513
up €9,513 (+17.4%), from €54,571 to €64,083
mainly Depreciation (+€40,142) and Receivables after one year (+€1,349)
- Profit (loss) carried forward -€19,122
down €19,122 (-4.4%), from -€437,524 to -€456,646
- Investment grants -€11,249
down €11,249 (-8.8%), from €127,520 to €116,271
- Turnover +€5,401
up €5,401 (+45.0%), from €12,000 to €17,401
- Purchases and services -€1,382
down €1,382 (-17.4%), from €7,949 to €6,567
- Gross operating margin -€268
down €268 (-2.4%), from €11,103 to €10,834
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 | €748,346 | €717,533 | -€30,813 | -4.1% |
| Fixed assets | 21/28 | €692,118 | €651,976 | -€40,142 | -5.8% |
| Tangible fixed assets | 22/27 | €692,118 | €651,976 | -€40,142 | -5.8% |
| Land and buildings | 22 | €692,118 | €651,976 | -€40,142 | -5.8% |
| Current assets | 29/58 | €56,228 | €65,557 | +€9,330 | +16.6% |
| Amounts receivable after more than one year | 29 | €1,349 | - | -€1,349 | |
| Trade receivables | 290 | €1,033 | - | -€1,033 | |
| Other amounts receivable | 291 | €316 | - | -€316 | |
| Amounts receivable within one year | 40/41 | - | €1,047 | +€1,047 | |
| Trade receivables | 40 | - | €1,047 | +€1,047 | |
| Cash at bank and in hand | 54/58 | €54,571 | €64,083 | +€9,513 | +17.4% |
| Deferred charges and accrued income | 490/1 | €308 | €427 | +€119 | +38.8% |
| Total equity and liabilities | 10/49 | €748,346 | €717,533 | -€30,813 | -4.1% |
| Equity | 10/15 | €726,396 | €696,025 | -€30,371 | -4.2% |
| Contributions | 10/11 | €1,036,400 | €1,036,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€437,524 | -€456,646 | -€19,122 | -4.4% |
| Investment grants | 15 | €127,520 | €116,271 | -€11,249 | -8.8% |
| Provisions and deferred taxes | 16 | €20,809 | €20,809 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €20,809 | €20,809 | = | 0.0% |
| Major repairs and maintenance | 162 | €20,809 | €20,809 | = | 0.0% |
| Amounts payable | 17/49 | €1,141 | €699 | -€442 | -38.8% |
| Amounts payable within one year | 42/48 | €1,033 | €555 | -€478 | -46.3% |
| Trade debts | 44 | €1,033 | €555 | -€478 | -46.3% |
| Suppliers | 440/4 | €1,033 | €555 | -€478 | -46.3% |
| Accrued charges and deferred income | 492/3 | €107 | €143 | +€36 | +33.4% |
| Turnover | 70 | €12,000 | €17,401 | +€5,401 | +45.0% |
| Non-recurring operating income | 76A | €7,052 | - | -€7,052 | |
| Goods, raw materials, services and sundry goods | 60/61 | €7,949 | €6,567 | -€1,382 | -17.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,142 | €40,142 | = | 0.0% |
| Other operating charges | 640/8 | €1,127 | €1,238 | +€111 | +9.8% |
| Non-recurring operating charges | 66A | - | €63 | +€63 | |
| Gross operating margin | 9900 | €11,103 | €10,834 | -€268 | -2.4% |
| Operating profit (loss) | 9901 | -€30,167 | -€30,610 | -€442 | -1.5% |
| Financial income | 75/76B | €11,557 | €11,676 | +€119 | +1.0% |
| Recurring financial income | 75 | €11,249 | €11,676 | +€427 | +3.8% |
| Non-recurring financial income | 76B | €308 | - | -€308 | |
| Financial charges | 65/66B | €60 | €60 | = | 0.0% |
| Recurring financial charges | 65 | €60 | €60 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | -€18,671 | -€18,994 | -€323 | -1.7% |
| Income taxes | 67/77 | €92 | €128 | +€36 | +38.8% |
| Profit (loss) for the period | 9904 | -€18,763 | -€19,122 | -€359 | -1.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,763 | -€19,122 | -€359 | -1.9% |
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 10 October 2026 via checked.be.