EM.CRM: 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.CRM
Largest movements
- Cash +€16,439
up €16,439 (+85.0%), from €19,340 to €35,779
mainly Trade debts (+€9,226) and Net result for the year (+€6,342)
- Receivables within one year -€5,116
down €5,116 (-80.1%), from €6,388 to €1,273
- Financial fixed assets +€2,775
up €2,775 (+75.5%), from €3,675 to €6,450
- Tangible fixed assets -€2,250
down €2,250 (-72.7%), from €3,094 to €844
of which Furniture and vehicles: -€1,431
- Trade debts +€9,226
up €9,226 (+100%), from €9,193 to €18,418
- Reserves +€6,342
up €6,342 (+15.9%), from €39,986 to €46,327
of which Distributable reserves: +€6,342
- Tax, wage and social debts -€6,214
down €6,214 (-45.0%), from €13,817 to €7,603
- Advances received +€3,150
new in 2026: €3,150
- Other debts +€2,568
up €2,568 (+3.2%), from €79,497 to €82,065
- Depreciation -€16,343
down €16,343 (-87.9%), from €18,593 to €2,250
- Financial charges +€4,723
up €4,723 (+1,331%), from €355 to €5,078
- Gross operating margin -€4,393
down €4,393 (-19.7%), from €22,278 to €17,885
- Taxes +€1,447
up €1,447 (+39.4%), from €3,668 to €5,116
- Financial income -€903
down €903 (-32.2%), from €2,800 to €1,898
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €182,497 | €195,165 | +€12,669 | +6.9% |
| Fixed assets | 21/28 | €6,769 | €7,294 | +€525 | +7.8% |
| Tangible fixed assets | 22/27 | €3,094 | €844 | -€2,250 | -72.7% |
| Plant, machinery and equipment | 23 | €557 | €0 | -€557 | -100% |
| Furniture and vehicles | 24 | €2,275 | €844 | -€1,431 | -62.9% |
| Leasing and similar rights | 25 | €261 | €0 | -€261 | -100% |
| Financial fixed assets | 28 | €3,675 | €6,450 | +€2,775 | +75.5% |
| Current assets | 29/58 | €175,728 | €187,872 | +€12,143 | +6.9% |
| Amounts receivable within one year | 40/41 | €6,388 | €1,273 | -€5,116 | -80.1% |
| Other amounts receivable | 41 | €6,388 | €1,273 | -€5,116 | -80.1% |
| Current investments | 50/53 | €150,000 | €150,820 | +€820 | +0.5% |
| Cash at bank and in hand | 54/58 | €19,340 | €35,779 | +€16,439 | +85.0% |
| Total equity and liabilities | 10/49 | €182,497 | €195,165 | +€12,669 | +6.9% |
| Equity | 10/15 | €62,048 | €68,390 | +€6,342 | +10.2% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €39,986 | €46,327 | +€6,342 | +15.9% |
| Non-distributable reserves | 130/1 | €5,000 | €5,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,000 | €5,000 | = | 0.0% |
| Distributable reserves | 133 | €34,986 | €41,327 | +€6,342 | +18.1% |
| Profit (loss) carried forward | 14 | -€27,938 | -€27,938 | = | 0.0% |
| Amounts payable | 17/49 | €120,449 | €126,776 | +€6,327 | +5.3% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €120,449 | €126,776 | +€6,327 | +5.3% |
| Current portion of amounts payable after more than one year | 42 | €15,349 | €15,349 | = | 0.0% |
| Financial debts | 43 | €2,593 | €190 | -€2,403 | -92.7% |
| Credit institutions | 430/8 | €2,593 | €190 | -€2,403 | -92.7% |
| Trade debts | 44 | €9,193 | €18,418 | +€9,226 | +100% |
| Suppliers | 440/4 | €9,193 | €18,418 | +€9,226 | +100% |
| Advances received on contracts in progress | 46 | - | €3,150 | +€3,150 | |
| Taxes, remuneration and social security | 45 | €13,817 | €7,603 | -€6,214 | -45.0% |
| Taxes | 450/3 | €13,817 | €7,603 | -€6,214 | -45.0% |
| Other amounts payable | 47/48 | €79,497 | €82,065 | +€2,568 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,593 | €2,250 | -€16,343 | -87.9% |
| Other operating charges | 640/8 | €1,085 | €998 | -€87 | -8.0% |
| Gross operating margin | 9900 | €22,278 | €17,885 | -€4,393 | -19.7% |
| Operating profit (loss) | 9901 | €2,600 | €14,637 | +€12,037 | +463% |
| Financial income | 75/76B | €2,800 | €1,898 | -€903 | -32.2% |
| Recurring financial income | 75 | €2,800 | €1,898 | -€903 | -32.2% |
| Financial charges | 65/66B | €355 | €5,078 | +€4,723 | +1,331% |
| Recurring financial charges | 65 | €355 | €5,078 | +€4,723 | +1,331% |
| Profit (loss) for the period before taxes | 9903 | €5,045 | €11,457 | +€6,412 | +127% |
| Income taxes | 67/77 | €3,668 | €5,116 | +€1,447 | +39.4% |
| Profit (loss) for the period | 9904 | €1,377 | €6,342 | +€4,965 | +361% |
| Profit (loss) for the period to be appropriated | 9905 | €1,377 | €6,342 | +€4,965 | +361% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.