EM DRIVE: 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 DRIVE
Largest movements
- Cash -€105,331
down €105,331 (-79.6%), from €132,398 to €27,067
mainly Stocks and contracts (-€95,050) and Contributions, distributions and other (-€46,885)
- Stocks and contracts +€95,050
up €95,050 (+95.8%), from €99,214 to €194,264
- Receivables within one year -€15,255
down €15,255 (-49.5%), from €30,799 to €15,544
of which Trade receivables: -€15,217
- Tangible fixed assets +€4,532
up €4,532 (+20.8%), from €21,772 to €26,304
of which Other tangible fixed assets: +€6,555
- Reserves -€46,885
down €46,885 (-17.7%), from €265,616 to €218,732
- Advances received +€22,450
new in 2025: €22,450
- Trade debts +€13,893
up €13,893 (+246%), from €5,656 to €19,548
- Tax, wage and social debts -€4,942
down €4,942 (-99.2%), from €4,979 to €38
- Profit (loss) carried forward -€4,891
down €4,891 (-339%), from -€1,442 to -€6,332
- Gross operating margin -€2,235
down €2,235 (-40.0%), from €5,581 to €3,346
- Other operating charges -€788
down €788 (-24.7%), from €3,195 to €2,407
- Taxes -€628
down €628 (-50.7%), from €1,238 to €610
- Depreciation +€404
up €404 (+8.5%), from €4,732 to €5,137
- Financial income -€333
down €333 (-100%), from €333 to €0
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 | €287,639 | €266,835 | -€20,804 | -7.2% |
| Fixed assets | 21/28 | €21,772 | €26,304 | +€4,532 | +20.8% |
| Tangible fixed assets | 22/27 | €21,772 | €26,304 | +€4,532 | +20.8% |
| Plant, machinery and equipment | 23 | €6,726 | €4,909 | -€1,817 | -27.0% |
| Furniture and vehicles | 24 | €616 | €410 | -€205 | -33.3% |
| Other tangible fixed assets | 26 | €14,430 | €20,985 | +€6,555 | +45.4% |
| Current assets | 29/58 | €265,867 | €240,532 | -€25,336 | -9.5% |
| Stocks and contracts in progress | 3 | €99,214 | €194,264 | +€95,050 | +95.8% |
| Stocks | 30/36 | €99,214 | €194,264 | +€95,050 | +95.8% |
| Amounts receivable within one year | 40/41 | €30,799 | €15,544 | -€15,255 | -49.5% |
| Trade receivables | 40 | €26,210 | €10,993 | -€15,217 | -58.1% |
| Other amounts receivable | 41 | €4,589 | €4,552 | -€38 | -0.8% |
| Cash at bank and in hand | 54/58 | €132,398 | €27,067 | -€105,331 | -79.6% |
| Deferred charges and accrued income | 490/1 | €3,456 | €3,656 | +€200 | +5.8% |
| Total equity and liabilities | 10/49 | €287,639 | €266,835 | -€20,804 | -7.2% |
| Equity | 10/15 | €276,575 | €224,799 | -€51,775 | -18.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €265,616 | €218,732 | -€46,885 | -17.7% |
| Distributable reserves | 133 | €265,616 | €218,732 | -€46,885 | -17.7% |
| Profit (loss) carried forward | 14 | -€1,442 | -€6,332 | -€4,891 | -339% |
| Amounts payable | 17/49 | €11,064 | €42,036 | +€30,972 | +280% |
| Amounts payable within one year | 42/48 | €11,064 | €42,036 | +€30,972 | +280% |
| Trade debts | 44 | €5,656 | €19,548 | +€13,893 | +246% |
| Suppliers | 440/4 | €5,656 | €19,548 | +€13,893 | +246% |
| Advances received on contracts in progress | 46 | - | €22,450 | +€22,450 | |
| Taxes, remuneration and social security | 45 | €4,979 | €38 | -€4,942 | -99.2% |
| Taxes | 450/3 | €4,979 | €38 | -€4,942 | -99.2% |
| Other amounts payable | 47/48 | €429 | €0 | -€429 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,732 | €5,137 | +€404 | +8.5% |
| Other operating charges | 640/8 | €3,195 | €2,407 | -€788 | -24.7% |
| Gross operating margin | 9900 | €5,581 | €3,346 | -€2,235 | -40.0% |
| Operating profit (loss) | 9901 | -€2,347 | -€4,198 | -€1,851 | -78.9% |
| Financial income | 75/76B | €333 | €0 | -€333 | -100% |
| Recurring financial income | 75 | €333 | €0 | -€333 | -100% |
| Financial charges | 65/66B | €50 | €82 | +€32 | +64.0% |
| Recurring financial charges | 65 | €50 | €82 | +€32 | +64.0% |
| Profit (loss) for the period before taxes | 9903 | -€2,064 | -€4,280 | -€2,217 | -107% |
| Income taxes | 67/77 | €1,238 | €610 | -€628 | -50.7% |
| Profit (loss) for the period | 9904 | -€3,302 | -€4,891 | -€1,589 | -48.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,302 | -€4,891 | -€1,589 | -48.1% |
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 17 October 2026 via checked.be.