EEMA: 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.
EEMA
Largest movements
- Deferred charges and accrued income -€120,000
down €120,000 (-99.2%), from €121,014 to €1,014
- Receivables within one year +€79,835
up €79,835 (+39.4%), from €202,539 to €282,375
- Tangible fixed assets -€19,522
down €19,522 (-25.9%), from €75,410 to €55,888
of which Furniture and vehicles: -€18,907
- Debts after one year -€106,595
down €106,595 (-17.4%), from €612,250 to €505,654
- Reserves +€48,882
up €48,882 (+12.5%), from €390,887 to €439,770
- Other debts +€38,780
up €38,780 (+19.6%), from €198,262 to €237,042
- Tax, wage and social debts -€28,821
down €28,821 (-66.9%), from €43,067 to €14,246
- Trade debts -€16,355
down €16,355 (-46.3%), from €35,330 to €18,975
- Financial charges -€41,722
down €41,722 (-61.1%), from €68,283 to €26,561
- Gross operating margin -€34,364
down €34,364 (-25.2%), from €136,121 to €101,757
- Other operating charges +€2,710
up €2,710 (+577%), from €470 to €3,180
- Financial income +€1,498
up €1,498 (+17.1%), from €8,741 to €10,240
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,409,791 | €1,349,624 | -€60,167 | -4.3% |
| Fixed assets | 21/28 | €1,075,505 | €1,055,983 | -€19,522 | -1.8% |
| Tangible fixed assets | 22/27 | €75,410 | €55,888 | -€19,522 | -25.9% |
| Land and buildings | 22 | €3,719 | €3,104 | -€615 | -16.5% |
| Furniture and vehicles | 24 | €71,692 | €52,785 | -€18,907 | -26.4% |
| Financial fixed assets | 28 | €1,000,095 | €1,000,095 | = | 0.0% |
| Current assets | 29/58 | €334,286 | €293,641 | -€40,645 | -12.2% |
| Amounts receivable within one year | 40/41 | €202,539 | €282,375 | +€79,835 | +39.4% |
| Other amounts receivable | 41 | €202,539 | €282,375 | +€79,835 | +39.4% |
| Cash at bank and in hand | 54/58 | €10,732 | €10,252 | -€480 | -4.5% |
| Deferred charges and accrued income | 490/1 | €121,014 | €1,014 | -€120,000 | -99.2% |
| Total equity and liabilities | 10/49 | €1,409,791 | €1,349,624 | -€60,167 | -4.3% |
| Equity | 10/15 | €409,487 | €458,370 | +€48,882 | +11.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €390,887 | €439,770 | +€48,882 | +12.5% |
| Distributable reserves | 133 | €390,887 | €439,770 | +€48,882 | +12.5% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €1,000,304 | €891,254 | -€109,049 | -10.9% |
| Amounts payable after more than one year | 17 | €612,250 | €505,654 | -€106,595 | -17.4% |
| Financial debts | 170/4 | €612,250 | €505,654 | -€106,595 | -17.4% |
| Amounts payable within one year | 42/48 | €379,313 | €376,859 | -€2,454 | -0.6% |
| Current portion of amounts payable after more than one year | 42 | €102,653 | €106,595 | +€3,942 | +3.8% |
| Trade debts | 44 | €35,330 | €18,975 | -€16,355 | -46.3% |
| Suppliers | 440/4 | €35,330 | €18,975 | -€16,355 | -46.3% |
| Taxes, remuneration and social security | 45 | €43,067 | €14,246 | -€28,821 | -66.9% |
| Taxes | 450/3 | €43,067 | €14,246 | -€28,821 | -66.9% |
| Other amounts payable | 47/48 | €198,262 | €237,042 | +€38,780 | +19.6% |
| Accrued charges and deferred income | 492/3 | €8,741 | €8,741 | = | 0.0% |
| Non-recurring operating income | 76A | €413 | - | -€413 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,522 | €19,522 | = | 0.0% |
| Other operating charges | 640/8 | €470 | €3,180 | +€2,710 | +577% |
| Gross operating margin | 9900 | €136,121 | €101,757 | -€34,364 | -25.2% |
| Operating profit (loss) | 9901 | €116,129 | €79,055 | -€37,074 | -31.9% |
| Financial income | 75/76B | €8,741 | €10,240 | +€1,498 | +17.1% |
| Recurring financial income | 75 | €8,741 | €10,240 | +€1,498 | +17.1% |
| Financial charges | 65/66B | €68,283 | €26,561 | -€41,722 | -61.1% |
| Recurring financial charges | 65 | €68,283 | €26,561 | -€41,722 | -61.1% |
| Profit (loss) for the period before taxes | 9903 | €56,588 | €62,734 | +€6,146 | +10.9% |
| Income taxes | 67/77 | €12,742 | €13,852 | +€1,110 | +8.7% |
| Profit (loss) for the period | 9904 | €43,846 | €48,882 | +€5,036 | +11.5% |
| Profit (loss) for the period to be appropriated | 9905 | €43,846 | €48,882 | +€5,036 | +11.5% |
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.