EAM: what changed
What changed
EAM
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€42,039
2024 · €67,142-€25,103
Equity
€171,681
2024 · €129,642+€42,039
Cash
€1,399
2024 · €24+€1,375
Balance sheet total
€684,860
2024 · €334,377+€350,483
Largest movements
Assets
- Financial fixed assets +€200,000
up €200,000 (+103%), from €195,000 to €395,000
- Receivables within one year +€122,455
up €122,455 (+87.9%), from €139,354 to €261,809
of which Other amounts receivable: +€174,768
- Tangible fixed assets +€24,468
new in 2025: €24,468
Equity and liabilities
- Other debts +€328,408
up €328,408 (+478%), from €68,765 to €397,173
- Trade debts -€54,677
down €54,677 (-45.9%), from €119,059 to €64,382
- Profit (loss) carried forward +€39,937
up €39,937 (+62.6%), from €63,785 to €103,722
- Tax, wage and social debts +€34,713
up €34,713 (+205%), from €16,911 to €51,624
Income statement
- Gross operating margin -€13,907
down €13,907 (-16.4%), from €84,563 to €70,657
- Depreciation +€5,532
new in 2025: €5,532
- Taxes +€2,989
up €2,989 (+17.7%), from €16,911 to €19,900
- Financial charges +€2,928
up €2,928 (+574%), from €510 to €3,438
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€67,142
Gross operating margin
-€13,907
Depreciation
-€5,532
Other operating charges
-€400
Financial income
+€653
Financial charges
-€2,928
Taxes
-€2,989
Result 2025
€42,039
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€231,375
Investment
-€230,000
Financing
€0
Cash 2024
€24
From operations (derived)
+€231,375
Net result for the year
+€42,039
Depreciation
+€5,532
Receivables within one year
-€122,455
Deferred charges and accrued income
-€2,184
Trade debts
-€54,677
Tax, wage and social debts
+€34,713
Other debts
+€328,408
Investment (derived)
-€230,000
Investment in fixed assets (net)
-€230,000
Cash 2025
€1,399
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €334,377 | €684,860 | +€350,483 | +105% |
| Fixed assets | 21/28 | €195,000 | €419,468 | +€224,468 | +115% |
| Tangible fixed assets | 22/27 | - | €24,468 | +€24,468 | |
| Furniture and vehicles | 24 | - | €24,468 | +€24,468 | |
| Financial fixed assets | 28 | €195,000 | €395,000 | +€200,000 | +103% |
| Current assets | 29/58 | €139,377 | €265,392 | +€126,015 | +90.4% |
| Amounts receivable within one year | 40/41 | €139,354 | €261,809 | +€122,455 | +87.9% |
| Trade receivables | 40 | €97,245 | €44,933 | -€52,312 | -53.8% |
| Other amounts receivable | 41 | €42,108 | €216,876 | +€174,768 | +415% |
| Cash at bank and in hand | 54/58 | €24 | €1,399 | +€1,375 | +5,818% |
| Deferred charges and accrued income | 490/1 | - | €2,184 | +€2,184 | |
| Total equity and liabilities | 10/49 | €334,377 | €684,860 | +€350,483 | +105% |
| Equity | 10/15 | €129,642 | €171,681 | +€42,039 | +32.4% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €3,357 | €5,459 | +€2,102 | +62.6% |
| Non-distributable reserves | 130/1 | €3,357 | €5,459 | +€2,102 | +62.6% |
| Legal reserve | 130 | €3,357 | €5,459 | +€2,102 | +62.6% |
| Profit (loss) carried forward | 14 | €63,785 | €103,722 | +€39,937 | +62.6% |
| Amounts payable | 17/49 | €204,735 | €513,179 | +€308,444 | +151% |
| Amounts payable within one year | 42/48 | €204,735 | €513,179 | +€308,444 | +151% |
| Trade debts | 44 | €119,059 | €64,382 | -€54,677 | -45.9% |
| Suppliers | 440/4 | €119,059 | €64,382 | -€54,677 | -45.9% |
| Taxes, remuneration and social security | 45 | €16,911 | €51,624 | +€34,713 | +205% |
| Taxes | 450/3 | €16,911 | €51,624 | +€34,713 | +205% |
| Other amounts payable | 47/48 | €68,765 | €397,173 | +€328,408 | +478% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €5,532 | +€5,532 | |
| Other operating charges | 640/8 | - | €400 | +€400 | |
| Gross operating margin | 9900 | €84,563 | €70,657 | -€13,907 | -16.4% |
| Operating profit (loss) | 9901 | €84,563 | €64,724 | -€19,839 | -23.5% |
| Financial income | 75/76B | - | €653 | +€653 | |
| Recurring financial income | 75 | - | €653 | +€653 | |
| Financial charges | 65/66B | €510 | €3,438 | +€2,928 | +574% |
| Recurring financial charges | 65 | €510 | €3,438 | +€2,928 | +574% |
| Profit (loss) for the period before taxes | 9903 | €84,053 | €61,939 | -€22,114 | -26.3% |
| Income taxes | 67/77 | €16,911 | €19,900 | +€2,989 | +17.7% |
| Profit (loss) for the period | 9904 | €67,142 | €42,039 | -€25,103 | -37.4% |
| Profit (loss) for the period to be appropriated | 9905 | €67,142 | €42,039 | -€25,103 | -37.4% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.