EGMAV: what changed
Two fiscal 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.
EGMAV
Largest movements
- Cash -€26,214
down €26,214 (-37.5%), from €69,869 to €43,655
mainly Debts after one year (-€44,133) and Investment in fixed assets (net) (-€40,057)
- Contributions +€50,000
up €50,000 (+15.2%), from €330,000 to €380,000
- Debts after one year -€44,133
down €44,133 (-8.8%), from €500,782 to €456,649
- Profit (loss) carried forward -€26,733
down €26,733 (-17.6%), from -€151,680 to -€178,412
- Other operating charges -€25,400
down €25,400 (-84.2%), from €30,172 to €4,772
- Gross operating margin -€14,989
down €14,989 (-37.0%), from €40,537 to €25,548
- Depreciation -€8,423
down €8,423 (-21.0%), from €40,015 to €31,592
- Financial charges -€2,731
down €2,731 (-14.2%), from €19,176 to €16,445
of which Non-recurring financial charges: -€6,928
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 | €946,607 | €926,995 | -€19,612 | -2.1% |
| Fixed assets | 21/28 | €869,872 | €878,337 | +€8,465 | +1.0% |
| Tangible fixed assets | 22/27 | €869,872 | €878,337 | +€8,465 | +1.0% |
| Land and buildings | 22 | €868,745 | €877,900 | +€9,155 | +1.1% |
| Plant, machinery and equipment | 23 | €1,127 | €437 | -€690 | -61.2% |
| Current assets | 29/58 | €76,735 | €48,658 | -€28,077 | -36.6% |
| Amounts receivable within one year | 40/41 | €5,349 | €3,403 | -€1,946 | -36.4% |
| Trade receivables | 40 | - | €303 | +€303 | |
| Other amounts receivable | 41 | €5,349 | €3,101 | -€2,249 | -42.0% |
| Cash at bank and in hand | 54/58 | €69,869 | €43,655 | -€26,214 | -37.5% |
| Deferred charges and accrued income | 490/1 | €1,516 | €1,600 | +€84 | +5.5% |
| Total equity and liabilities | 10/49 | €946,607 | €926,995 | -€19,612 | -2.1% |
| Equity | 10/15 | €178,320 | €201,588 | +€23,267 | +13.0% |
| Contributions | 10/11 | €330,000 | €380,000 | +€50,000 | +15.2% |
| Profit (loss) carried forward | 14 | -€151,680 | -€178,412 | -€26,733 | -17.6% |
| Amounts payable | 17/49 | €768,286 | €725,407 | -€42,879 | -5.6% |
| Amounts payable after more than one year | 17 | €500,782 | €456,649 | -€44,133 | -8.8% |
| Financial debts | 170/4 | €500,782 | €456,649 | -€44,133 | -8.8% |
| Amounts payable within one year | 42/48 | €262,559 | €263,814 | +€1,255 | +0.5% |
| Current portion of amounts payable after more than one year | 42 | €42,979 | €44,133 | +€1,154 | +2.7% |
| Taxes, remuneration and social security | 45 | €398 | - | -€398 | |
| Taxes | 450/3 | €398 | - | -€398 | |
| Other amounts payable | 47/48 | €219,181 | €219,681 | +€500 | +0.2% |
| Accrued charges and deferred income | 492/3 | €4,945 | €4,944 | -€1 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,015 | €31,592 | -€8,423 | -21.0% |
| Other operating charges | 640/8 | €30,172 | €4,772 | -€25,400 | -84.2% |
| Gross operating margin | 9900 | €40,537 | €25,548 | -€14,989 | -37.0% |
| Operating profit (loss) | 9901 | -€29,650 | -€10,817 | +€18,834 | +63.5% |
| Financial income | 75/76B | €698 | €529 | -€169 | -24.2% |
| Recurring financial income | 75 | €698 | €529 | -€169 | -24.2% |
| Financial charges | 65/66B | €19,176 | €16,445 | -€2,731 | -14.2% |
| Recurring financial charges | 65 | €12,248 | €16,445 | +€4,197 | +34.3% |
| Non-recurring financial charges | 66B | €6,928 | - | -€6,928 | |
| Profit (loss) for the period before taxes | 9903 | -€48,128 | -€26,733 | +€21,396 | +44.5% |
| Profit (loss) for the period | 9904 | -€48,128 | -€26,733 | +€21,396 | +44.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€48,128 | -€26,733 | +€21,396 | +44.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.