EEM: 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.
EEM
Largest movements
- Receivables within one year +€69,475
up €69,475 (+55.1%), from €126,079 to €195,554
of which Trade receivables: +€69,517
- Tangible fixed assets -€6,400
down €6,400 (-45.8%), from €13,979 to €7,579
of which Plant, machinery and equipment: -€4,878
- Cash -€5,087
down €5,087 (-4.9%), from €104,443 to €99,357
mainly Receivables within one year (-€69,475) and Trade debts (-€4,178)
- Deferred charges and accrued income -€3,204
no longer reported in 2025 (was €3,204)
- Accrued charges and deferred income +€37,422
up €37,422 (+26.8%), from €139,871 to €177,293
- Tax, wage and social debts +€15,734
up €15,734 (+95.5%), from €16,472 to €32,206
of which Taxes: +€8,729
- Reserves +€5,806
up €5,806 (+10.2%), from €56,780 to €62,586
of which Distributable reserves: +€5,806
- Trade debts -€4,178
down €4,178 (-19.6%), from €21,333 to €17,155
- Staff costs +€90,775
up €90,775 (+97.3%), from €93,271 to €184,046
- Gross operating margin +€82,412
up €82,412 (+57.1%), from €144,396 to €226,808
- Other operating charges +€6,275
up €6,275 (+43.6%), from €14,396 to €20,671
- Financial charges -€4,628
down €4,628 (-62.3%), from €7,431 to €2,803
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 | €253,056 | €307,839 | +€54,784 | +21.6% |
| Fixed assets | 21/28 | €19,329 | €12,929 | -€6,400 | -33.1% |
| Tangible fixed assets | 22/27 | €13,979 | €7,579 | -€6,400 | -45.8% |
| Plant, machinery and equipment | 23 | €9,708 | €4,830 | -€4,878 | -50.2% |
| Furniture and vehicles | 24 | €4,272 | €2,749 | -€1,523 | -35.6% |
| Financial fixed assets | 28 | €5,350 | €5,350 | = | 0.0% |
| Current assets | 29/58 | €233,726 | €294,910 | +€61,184 | +26.2% |
| Amounts receivable within one year | 40/41 | €126,079 | €195,554 | +€69,475 | +55.1% |
| Trade receivables | 40 | €113,024 | €182,541 | +€69,517 | +61.5% |
| Other amounts receivable | 41 | €13,055 | €13,012 | -€43 | -0.3% |
| Cash at bank and in hand | 54/58 | €104,443 | €99,357 | -€5,087 | -4.9% |
| Deferred charges and accrued income | 490/1 | €3,204 | - | -€3,204 | |
| Total equity and liabilities | 10/49 | €253,056 | €307,839 | +€54,784 | +21.6% |
| Equity | 10/15 | €75,380 | €81,186 | +€5,806 | +7.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €56,780 | €62,586 | +€5,806 | +10.2% |
| Non-distributable reserves | 130/1 | €848 | €848 | = | 0.0% |
| Reserves not available under the articles | 1311 | - | €848 | +€848 | |
| Other | 1319 | €848 | - | -€848 | |
| Distributable reserves | 133 | €55,931 | €61,737 | +€5,806 | +10.4% |
| Amounts payable | 17/49 | €177,676 | €226,653 | +€48,977 | +27.6% |
| Amounts payable within one year | 42/48 | €37,805 | €49,360 | +€11,556 | +30.6% |
| Trade debts | 44 | €21,333 | €17,155 | -€4,178 | -19.6% |
| Suppliers | 440/4 | €21,333 | €17,155 | -€4,178 | -19.6% |
| Taxes, remuneration and social security | 45 | €16,472 | €32,206 | +€15,734 | +95.5% |
| Taxes | 450/3 | €11,225 | €19,954 | +€8,729 | +77.8% |
| Remuneration and social security | 454/9 | €5,247 | €12,252 | +€7,005 | +133.5% |
| Accrued charges and deferred income | 492/3 | €139,871 | €177,293 | +€37,422 | +26.8% |
| Non-recurring operating income | 76A | €15,500 | - | -€15,500 | |
| Remuneration, social security and pensions | 62 | €93,271 | €184,046 | +€90,775 | +97.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,399 | €8,701 | +€1,301 | +17.6% |
| Other operating charges | 640/8 | €14,396 | €20,671 | +€6,275 | +43.6% |
| Gross operating margin | 9900 | €144,396 | €226,808 | +€82,412 | +57.1% |
| Operating profit (loss) | 9901 | €29,329 | €13,391 | -€15,939 | -54.3% |
| Financial income | 75/76B | €351 | €764 | +€414 | +118.0% |
| Recurring financial income | 75 | €351 | €764 | +€414 | +118.0% |
| Financial charges | 65/66B | €7,431 | €2,803 | -€4,628 | -62.3% |
| Recurring financial charges | 65 | €7,431 | €2,803 | -€4,628 | -62.3% |
| Profit (loss) for the period before taxes | 9903 | €22,249 | €11,352 | -€10,897 | -49.0% |
| Income taxes | 67/77 | €6,237 | €5,546 | -€691 | -11.1% |
| Profit (loss) for the period | 9904 | €16,012 | €5,806 | -€10,206 | -63.7% |
| Profit (loss) for the period to be appropriated | 9905 | €16,012 | €5,806 | -€10,206 | -63.7% |
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 9 October 2026 via checked.be.