EM CONCEPT: 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.
EM CONCEPT
Largest movements
- Tangible fixed assets +€87,894
up €87,894 (+195%), from €45,156 to €133,051
of which Furniture and vehicles: +€89,052
- Cash -€74,361
down €74,361 (-75.5%), from €98,511 to €24,150
mainly Investment in fixed assets (net) (-€136,628) and Trade debts (-€15,229)
- Receivables within one year -€3,911
down €3,911 (-17.2%), from €22,787 to €18,875
of which Trade receivables: -€11,377
- Trade debts -€15,229
down €15,229 (-57.6%), from €26,435 to €11,206
- Debts after one year +€11,111
new in 2025: €11,111
- Profit (loss) carried forward +€6,836
up €6,836 (+12.5%), from €54,533 to €61,369
- Current portion of long-term debt +€6,667
new in 2025: €6,667
- Gross operating margin +€33,760
up €33,760 (+109%), from €30,927 to €64,687
- Depreciation +€21,343
up €21,343 (+77.9%), from €27,391 to €48,733
- Other operating charges +€5,800
up €5,800 (+463%), from €1,254 to €7,054
- Taxes +€1,307
up €1,307 (+267%), from €489 to €1,796
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.
Derived cash bridge
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 | €166,931 | €176,076 | +€9,145 | +5.5% |
| Fixed assets | 21/28 | €45,156 | €133,051 | +€87,894 | +195% |
| Tangible fixed assets | 22/27 | €45,156 | €133,051 | +€87,894 | +195% |
| Plant, machinery and equipment | 23 | €2,547 | €1,389 | -€1,158 | -45.5% |
| Furniture and vehicles | 24 | €42,610 | €131,662 | +€89,052 | +209% |
| Current assets | 29/58 | €121,775 | €43,025 | -€78,749 | -64.7% |
| Amounts receivable within one year | 40/41 | €22,787 | €18,875 | -€3,911 | -17.2% |
| Trade receivables | 40 | €22,192 | €10,815 | -€11,377 | -51.3% |
| Other amounts receivable | 41 | €595 | €8,061 | +€7,466 | +1,254% |
| Cash at bank and in hand | 54/58 | €98,511 | €24,150 | -€74,361 | -75.5% |
| Deferred charges and accrued income | 490/1 | €477 | - | -€477 | |
| Total equity and liabilities | 10/49 | €166,931 | €176,076 | +€9,145 | +5.5% |
| Equity | 10/15 | €68,793 | €75,629 | +€6,836 | +9.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | - | €1,860 | +€1,860 | |
| Other | 1319 | €1,860 | - | -€1,860 | |
| Profit (loss) carried forward | 14 | €54,533 | €61,369 | +€6,836 | +12.5% |
| Amounts payable | 17/49 | €98,138 | €100,447 | +€2,309 | +2.4% |
| Amounts payable after more than one year | 17 | - | €11,111 | +€11,111 | |
| Financial debts | 170/4 | - | €11,111 | +€11,111 | |
| Amounts payable within one year | 42/48 | €98,138 | €89,336 | -€8,802 | -9.0% |
| Current portion of amounts payable after more than one year | 42 | - | €6,667 | +€6,667 | |
| Trade debts | 44 | €26,435 | €11,206 | -€15,229 | -57.6% |
| Suppliers | 440/4 | €26,435 | €11,206 | -€15,229 | -57.6% |
| Advances received on contracts in progress | 46 | €286 | €286 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €3,963 | €3,816 | -€147 | -3.7% |
| Taxes | 450/3 | €3,963 | €816 | -€3,147 | -79.4% |
| Remuneration and social security | 454/9 | - | €3,000 | +€3,000 | |
| Other amounts payable | 47/48 | €67,454 | €67,361 | -€92 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,391 | €48,733 | +€21,343 | +77.9% |
| Other operating charges | 640/8 | €1,254 | €7,054 | +€5,800 | +463% |
| Gross operating margin | 9900 | €30,927 | €64,687 | +€33,760 | +109% |
| Operating profit (loss) | 9901 | €2,282 | €8,899 | +€6,617 | +290% |
| Financial income | 75/76B | €0 | €1 | +€1 | +5,600% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +5,600% |
| Financial charges | 65/66B | €69 | €268 | +€199 | +286% |
| Recurring financial charges | 65 | €69 | €268 | +€199 | +286% |
| Profit (loss) for the period before taxes | 9903 | €2,213 | €8,632 | +€6,419 | +290% |
| Income taxes | 67/77 | €489 | €1,796 | +€1,307 | +267% |
| Profit (loss) for the period | 9904 | €1,724 | €6,836 | +€5,112 | +297% |
| Profit (loss) for the period to be appropriated | 9905 | €1,724 | €6,836 | +€5,112 | +297% |
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 13 October 2026 via checked.be.