EM Conseils: 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 Conseils
Largest movements
- Tangible fixed assets -€7,636
down €7,636 (-5.7%), from €134,259 to €126,622
of which Assets under construction and advance payments: -€9,130
- Receivables within one year +€2,892
up €2,892 (+58.9%), from €4,908 to €7,800
of which Other amounts receivable: +€5,325
- Profit (loss) carried forward +€15,204
up €15,204 (+20.4%), from €74,543 to €89,747
- Current portion of long-term debt -€9,327
down €9,327 (-77.4%), from €12,058 to €2,731
- Other debts -€5,997
down €5,997 (-30.5%), from €19,631 to €13,634
- Tax, wage and social debts -€4,404
down €4,404 (-52.5%), from €8,397 to €3,992
- Debts after one year -€2,731
down €2,731 (-3.8%), from €71,088 to €68,357
- Depreciation -€20,177
down €20,177 (-64.8%), from €31,150 to €10,973
- Taxes +€4,538
up €4,538 (+154.9%), from €2,930 to €7,467
- Gross operating margin +€2,689
up €2,689 (+7.4%), from €36,365 to €39,054
- Financial charges +€1,378
up €1,378 (+43.6%), from €3,164 to €4,542
- Financial income -€784
no longer reported in 2025 (was €784)
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 | €187,991 | €181,318 | -€6,673 | -3.5% |
| Fixed assets | 21/28 | €135,553 | €126,622 | -€8,931 | -6.6% |
| Intangible fixed assets | 21 | €1,295 | - | -€1,295 | |
| Tangible fixed assets | 22/27 | €134,259 | €126,622 | -€7,636 | -5.7% |
| Land and buildings | 22 | €117,045 | €122,665 | +€5,620 | +4.8% |
| Furniture and vehicles | 24 | €8,084 | €3,957 | -€4,127 | -51.0% |
| Assets under construction and advance payments | 27 | €9,130 | - | -€9,130 | |
| Current assets | 29/58 | €52,437 | €54,695 | +€2,258 | +4.3% |
| Stocks and contracts in progress | 3 | €2,543 | €2,543 | = | 0.0% |
| Stocks | 30/36 | €2,543 | €2,543 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €4,908 | €7,800 | +€2,892 | +58.9% |
| Trade receivables | 40 | €4,908 | €2,475 | -€2,433 | -49.6% |
| Other amounts receivable | 41 | €0 | €5,325 | +€5,325 | |
| Cash at bank and in hand | 54/58 | €44,101 | €43,022 | -€1,078 | -2.4% |
| Deferred charges and accrued income | 490/1 | €885 | €1,329 | +€444 | +50.2% |
| Total equity and liabilities | 10/49 | €187,991 | €181,318 | -€6,673 | -3.5% |
| Equity | 10/15 | €76,543 | €91,747 | +€15,204 | +19.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €74,543 | €89,747 | +€15,204 | +20.4% |
| Amounts payable | 17/49 | €111,448 | €89,571 | -€21,877 | -19.6% |
| Amounts payable after more than one year | 17 | €71,088 | €68,357 | -€2,731 | -3.8% |
| Financial debts | 170/4 | €71,088 | €68,357 | -€2,731 | -3.8% |
| Amounts payable within one year | 42/48 | €40,360 | €21,214 | -€19,146 | -47.4% |
| Current portion of amounts payable after more than one year | 42 | €12,058 | €2,731 | -€9,327 | -77.4% |
| Trade debts | 44 | €275 | €856 | +€582 | +211.6% |
| Suppliers | 440/4 | €275 | €856 | +€582 | +211.6% |
| Taxes, remuneration and social security | 45 | €8,397 | €3,992 | -€4,404 | -52.5% |
| Taxes | 450/3 | €8,397 | €3,992 | -€4,404 | -52.5% |
| Other amounts payable | 47/48 | €19,631 | €13,634 | -€5,997 | -30.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,150 | €10,973 | -€20,177 | -64.8% |
| Other operating charges | 640/8 | €609 | €867 | +€258 | +42.3% |
| Gross operating margin | 9900 | €36,365 | €39,054 | +€2,689 | +7.4% |
| Operating profit (loss) | 9901 | €4,606 | €27,213 | +€22,607 | +490.8% |
| Financial income | 75/76B | €784 | - | -€784 | |
| Recurring financial income | 75 | €784 | - | -€784 | |
| Financial charges | 65/66B | €3,164 | €4,542 | +€1,378 | +43.6% |
| Recurring financial charges | 65 | €3,164 | €4,542 | +€1,378 | +43.6% |
| Profit (loss) for the period before taxes | 9903 | €2,226 | €22,672 | +€20,445 | +918.4% |
| Income taxes | 67/77 | €2,930 | €7,467 | +€4,538 | +154.9% |
| Profit (loss) for the period | 9904 | -€703 | €15,204 | +€15,908 | |
| Profit (loss) for the period to be appropriated | 9905 | -€703 | €15,204 | +€15,908 |
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 10 October 2026 via checked.be.