EM & EL CONSULT: what changed
EM & EL CONSULT
Largest movements
- Cash +€151,781
up €151,781 (+81.2%), from €186,912 to €338,693
mainly Net result for the year (+€366,746) and Current investments (+€80,000)
- Current investments -€80,000
no longer reported in 2025 (was €80,000)
- Receivables within one year -€22,121
down €22,121 (-36.3%), from €60,940 to €38,819
of which Trade receivables: -€15,000
- Tangible fixed assets -€8,612
down €8,612 (-20.3%), from €42,398 to €33,785
of which Furniture and vehicles: -€12,707
- Financial fixed assets -€5,625
down €5,625 (-23.1%), from €24,375 to €18,750
- Reserves +€66,746
new in 2025: €66,746
- Other debts -€28,274
down €28,274 (-8.0%), from €351,710 to €323,436
- Debts after one year -€10,361
down €10,361 (-92.2%), from €11,237 to €876
- Gross operating margin +€177,928
up €177,928 (+88.5%), from €200,943 to €378,871
- Financial income +€93,119
up €93,119 (+2,050%), from €4,542 to €97,661
of which Non-recurring financial income: +€94,070
- Taxes +€51,118
up €51,118 (+120%), from €42,538 to €93,656
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €395,242 | €430,107 | +€34,866 | +8.8% |
| Fixed assets | 21/28 | €66,773 | €52,535 | -€14,237 | -21.3% |
| Tangible fixed assets | 22/27 | €42,398 | €33,785 | -€8,612 | -20.3% |
| Plant, machinery and equipment | 23 | €1,401 | €950 | -€451 | -32.2% |
| Furniture and vehicles | 24 | €40,639 | €27,932 | -€12,707 | -31.3% |
| Other tangible fixed assets | 26 | €357 | €4,903 | +€4,546 | +1,273% |
| Financial fixed assets | 28 | €24,375 | €18,750 | -€5,625 | -23.1% |
| Current assets | 29/58 | €328,469 | €377,572 | +€49,103 | +14.9% |
| Amounts receivable within one year | 40/41 | €60,940 | €38,819 | -€22,121 | -36.3% |
| Trade receivables | 40 | €35,000 | €20,000 | -€15,000 | -42.9% |
| Other amounts receivable | 41 | €25,940 | €18,819 | -€7,121 | -27.5% |
| Current investments | 50/53 | €80,000 | - | -€80,000 | |
| Cash at bank and in hand | 54/58 | €186,912 | €338,693 | +€151,781 | +81.2% |
| Deferred charges and accrued income | 490/1 | €617 | €59 | -€558 | -90.4% |
| Total equity and liabilities | 10/49 | €395,242 | €430,107 | +€34,866 | +8.8% |
| Equity | 10/15 | €18,600 | €85,346 | +€66,746 | +359% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | - | €66,746 | +€66,746 | |
| Distributable reserves | 133 | - | €66,746 | +€66,746 | |
| Amounts payable | 17/49 | €376,642 | €344,761 | -€31,881 | -8.5% |
| Amounts payable after more than one year | 17 | €11,237 | €876 | -€10,361 | -92.2% |
| Financial debts | 170/4 | €11,237 | €876 | -€10,361 | -92.2% |
| Amounts payable within one year | 42/48 | €365,057 | €343,885 | -€21,172 | -5.8% |
| Current portion of amounts payable after more than one year | 42 | €10,102 | €10,361 | +€259 | +2.6% |
| Trade debts | 44 | €370 | €3,379 | +€3,009 | +813% |
| Suppliers | 440/4 | €370 | €3,379 | +€3,009 | +813% |
| Taxes, remuneration and social security | 45 | €2,875 | €6,709 | +€3,835 | +133% |
| Taxes | 450/3 | €770 | €6,709 | +€5,939 | +771% |
| Remuneration and social security | 454/9 | €2,104 | - | -€2,104 | |
| Other amounts payable | 47/48 | €351,710 | €323,436 | -€28,274 | -8.0% |
| Accrued charges and deferred income | 492/3 | €348 | - | -€348 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,305 | €14,801 | +€496 | +3.5% |
| Other operating charges | 640/8 | €675 | €701 | +€27 | +3.9% |
| Non-recurring operating charges | 66A | €46 | - | -€46 | |
| Gross operating margin | 9900 | €200,943 | €378,871 | +€177,928 | +88.5% |
| Operating profit (loss) | 9901 | €185,917 | €363,368 | +€177,451 | +95.4% |
| Financial income | 75/76B | €4,542 | €97,661 | +€93,119 | +2,050% |
| Recurring financial income | 75 | €4,542 | €3,591 | -€951 | -20.9% |
| Non-recurring financial income | 76B | - | €94,070 | +€94,070 | |
| Financial charges | 65/66B | €1,023 | €627 | -€397 | -38.8% |
| Recurring financial charges | 65 | €1,023 | €627 | -€397 | -38.8% |
| Profit (loss) for the period before taxes | 9903 | €189,436 | €460,402 | +€270,967 | +143% |
| Income taxes | 67/77 | €42,538 | €93,656 | +€51,118 | +120% |
| Profit (loss) for the period | 9904 | €146,897 | €366,746 | +€219,849 | +150% |
| Profit (loss) for the period to be appropriated | 9905 | €146,897 | €366,746 | +€219,849 | +150% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.