EM CORPORATION: 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 CORPORATION
Largest movements
- Cash +€64,180
up €64,180 (+77.4%), from €82,875 to €147,055
mainly Net result for the year (+€128,069) and Receivables within one year (+€58,164)
- Receivables within one year -€58,164
down €58,164 (-76.4%), from €76,164 to €18,000
of which Trade receivables: -€62,920
- Profit (loss) carried forward +€128,069
up €128,069 (+30.6%), from €418,157 to €546,226
- Debts after one year -€96,017
down €96,017 (-43.0%), from €223,298 to €127,280
- Other debts -€37,832
down €37,832 (-17.1%), from €221,707 to €183,875
- Gross operating margin -€61,774
down €61,774 (-24.8%), from €248,678 to €186,905
- Taxes -€16,281
down €16,281 (-27.6%), from €58,971 to €42,690
- Financial charges -€4,478
down €4,478 (-23.0%), from €19,503 to €15,025
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 | €1,159,677 | €1,165,651 | +€5,974 | +0.5% |
| Fixed assets | 21/28 | €1,000,004 | €1,000,004 | = | 0.0% |
| Financial fixed assets | 28 | €1,000,004 | €1,000,004 | = | 0.0% |
| Current assets | 29/58 | €159,673 | €165,647 | +€5,974 | +3.7% |
| Amounts receivable within one year | 40/41 | €76,164 | €18,000 | -€58,164 | -76.4% |
| Trade receivables | 40 | €62,920 | - | -€62,920 | |
| Other amounts receivable | 41 | €13,244 | €18,000 | +€4,756 | +35.9% |
| Cash at bank and in hand | 54/58 | €82,875 | €147,055 | +€64,180 | +77.4% |
| Deferred charges and accrued income | 490/1 | €634 | €592 | -€43 | -6.7% |
| Total equity and liabilities | 10/49 | €1,159,677 | €1,165,651 | +€5,974 | +0.5% |
| Equity | 10/15 | €618,157 | €746,226 | +€128,069 | +20.7% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €418,157 | €546,226 | +€128,069 | +30.6% |
| Amounts payable | 17/49 | €541,520 | €419,424 | -€122,096 | -22.5% |
| Amounts payable after more than one year | 17 | €223,298 | €127,280 | -€96,017 | -43.0% |
| Financial debts | 170/4 | €223,298 | €127,280 | -€96,017 | -43.0% |
| Amounts payable within one year | 42/48 | €318,222 | €292,144 | -€26,078 | -8.2% |
| Current portion of amounts payable after more than one year | 42 | €94,770 | €96,017 | +€1,247 | +1.3% |
| Trade debts | 44 | €458 | €411 | -€47 | -10.3% |
| Suppliers | 440/4 | €458 | €411 | -€47 | -10.3% |
| Taxes, remuneration and social security | 45 | €1,287 | €11,840 | +€10,553 | +820% |
| Taxes | 450/3 | €1,287 | €11,840 | +€10,553 | +820% |
| Other amounts payable | 47/48 | €221,707 | €183,875 | -€37,832 | -17.1% |
| Other operating charges | 640/8 | €1,108 | €1,143 | +€35 | +3.1% |
| Gross operating margin | 9900 | €248,678 | €186,905 | -€61,774 | -24.8% |
| Operating profit (loss) | 9901 | €247,570 | €185,762 | -€61,808 | -25.0% |
| Financial income | 75/76B | €1,061 | €22 | -€1,039 | -97.9% |
| Recurring financial income | 75 | €1,061 | €22 | -€1,039 | -97.9% |
| Financial charges | 65/66B | €19,503 | €15,025 | -€4,478 | -23.0% |
| Recurring financial charges | 65 | €19,503 | €15,025 | -€4,478 | -23.0% |
| Profit (loss) for the period before taxes | 9903 | €229,129 | €170,759 | -€58,370 | -25.5% |
| Income taxes | 67/77 | €58,971 | €42,690 | -€16,281 | -27.6% |
| Profit (loss) for the period | 9904 | €170,158 | €128,069 | -€42,089 | -24.7% |
| Profit (loss) for the period to be appropriated | 9905 | €170,158 | €128,069 | -€42,089 | -24.7% |
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 28 October 2026 via checked.be.