EM Construct: 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.
EM Construct
Largest movements
- Receivables within one year -€13,360
down €13,360 (-84.8%), from €15,750 to €2,390
of which Trade receivables: -€14,256
- Tangible fixed assets -€1,266
down €1,266 (-86.1%), from €1,471 to €205
- Cash -€619
no longer reported in 2024 (was €619)
mainly Trade debts (-€32,965) and Tax, wage and social debts (-€9,417)
- Trade debts -€32,965
down €32,965 (-94.3%), from €34,953 to €1,988
- Other debts +€27,925
up €27,925 (+5497.0%), from €508 to €28,433
- Tax, wage and social debts -€9,417
no longer reported in 2024 (was €9,417)
- Profit (loss) carried forward -€795
down €795 (-2.7%), from -€29,038 to -€29,833
- Purchases and services -€172,918
down €172,918 (-88.7%), from €195,028 to €22,110
- Turnover -€115,911
down €115,911 (-83.2%), from €139,345 to €23,434
- Gross operating margin +€57,007
up €57,007, from -€55,683 to €1,324
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €17,840 | €2,595 | -€15,245 | -85.5% |
| Fixed assets | 21/28 | €1,471 | €205 | -€1,266 | -86.1% |
| Tangible fixed assets | 22/27 | €1,471 | €205 | -€1,266 | -86.1% |
| Plant, machinery and equipment | 23 | €1,471 | €205 | -€1,266 | -86.1% |
| Current assets | 29/58 | €16,369 | €2,390 | -€13,979 | -85.4% |
| Amounts receivable within one year | 40/41 | €15,750 | €2,390 | -€13,360 | -84.8% |
| Trade receivables | 40 | €15,750 | €1,494 | -€14,256 | -90.5% |
| Other amounts receivable | 41 | - | €896 | +€896 | |
| Cash at bank and in hand | 54/58 | €619 | - | -€619 | |
| Total equity and liabilities | 10/49 | €17,840 | €2,595 | -€15,245 | -85.5% |
| Equity | 10/15 | -€27,038 | -€27,833 | -€795 | -2.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€29,038 | -€29,833 | -€795 | -2.7% |
| Amounts payable | 17/49 | €44,878 | €30,428 | -€14,450 | -32.2% |
| Amounts payable within one year | 42/48 | €44,878 | €30,428 | -€14,450 | -32.2% |
| Financial debts | 43 | - | €7 | +€7 | |
| Credit institutions | 430/8 | - | €7 | +€7 | |
| Trade debts | 44 | €34,953 | €1,988 | -€32,965 | -94.3% |
| Suppliers | 440/4 | €34,953 | €1,988 | -€32,965 | -94.3% |
| Taxes, remuneration and social security | 45 | €9,417 | - | -€9,417 | |
| Taxes | 450/3 | €9,417 | - | -€9,417 | |
| Other amounts payable | 47/48 | €508 | €28,433 | +€27,925 | +5497.0% |
| Turnover | 70 | €139,345 | €23,434 | -€115,911 | -83.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €195,028 | €22,110 | -€172,918 | -88.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,267 | €1,267 | = | 0.0% |
| Other operating charges | 640/8 | €1,342 | €387 | -€955 | -71.2% |
| Gross operating margin | 9900 | -€55,683 | €1,324 | +€57,007 | |
| Operating profit (loss) | 9901 | -€58,292 | -€330 | +€57,962 | +99.4% |
| Financial income | 75/76B | €53 | €2 | -€51 | -96.2% |
| Recurring financial income | 75 | €53 | €2 | -€51 | -96.2% |
| Financial charges | 65/66B | €246 | €467 | +€221 | +89.8% |
| Recurring financial charges | 65 | €246 | €467 | +€221 | +89.8% |
| Profit (loss) for the period before taxes | 9903 | -€58,485 | -€795 | +€57,690 | +98.6% |
| Profit (loss) for the period | 9904 | -€58,485 | -€795 | +€57,690 | +98.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€58,485 | -€795 | +€57,690 | +98.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.