EM GROUP: what changed
What changed
EM GROUP
NACE 63.100, Computing infrastructure, data processing, hosting and related activities
filed annual accounts (NBB)
Net result for the year
€181,052
2024 · €100,409+€80,643
Equity
€722,258
2024 · €691,206+€31,052
Cash
€532,353
2024 · €650,442-€118,089
Balance sheet total
€3.3m
2024 · €2.7m+€551,792
Largest movements
Assets
- Receivables within one year +€458,806
up €458,806 (+37.7%), from €1.2m to €1.7m
of which Trade receivables: +€428,356
- Current investments +€350,000
new in 2025: €350,000
- Stocks and contracts -€134,696
down €134,696 (-21.9%), from €616,016 to €481,320
- Cash -€118,089
down €118,089 (-18.2%), from €650,442 to €532,353
mainly Receivables within one year (-€458,806) and Current investments (-€350,000)
- Tangible fixed assets +€37,849
up €37,849 (+28.3%), from €133,675 to €171,524
of which Furniture and vehicles: +€51,739
Equity and liabilities
- Accrued charges and deferred income +€428,934
up €428,934 (+47.0%), from €912,641 to €1.3m
- Other debts +€150,000
up €150,000 (+12,345%), from €1,215 to €151,215
- Advances received -€66,037
down €66,037 (-22.7%), from €291,281 to €225,244
- Tax, wage and social debts +€54,063
up €54,063 (+15.7%), from €345,345 to €399,408
of which Taxes: +€73,115
Income statement
- Gross operating margin +€73,726
up €73,726 (+3.0%), from €2.4m to €2.5m
- Financial charges +€31,138
up €31,138 (+144%), from €21,559 to €52,697
of which Financial charges: +€21,737
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.
Result 2024
€100,409
Gross operating margin
+€73,726
Staff costs
-€2,985
Depreciation
-€1,631
Other operating charges
+€7,801
Financial income
+€12,271
Financial charges
-€31,138
Taxes
+€22,601
Result 2025
€181,052
raises the resultlowers the result
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.
From operations
+€471,499
Investment
-€425,914
Financing
-€163,674
Cash 2024
€650,442
From operations (derived)
+€471,499
Net result for the year
+€181,052
Depreciation
+€59,251
Stocks and contracts
+€134,696
Receivables within one year
-€458,806
Deferred charges and accrued income
+€20,892
Trade debts
-€32,547
Tax, wage and social debts
+€54,063
Advances received
-€66,037
Other debts
+€150,000
Accrued charges and deferred income
+€428,934
Investment (derived)
-€425,914
Investment in fixed assets (net)
-€75,914
Current investments
-€350,000
Financing
-€163,674
Debts after one year
-€19,029
Current portion of long-term debt
-€1,721
Short-term financial debts
+€7,075
Contributions, distributions and other
-€150,000
Cash 2025
€532,353
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,738,373 | €3,290,165 | +€551,792 | +20.2% |
| Fixed assets | 21/28 | €192,845 | €209,509 | +€16,663 | +8.6% |
| Intangible fixed assets | 21 | €59,170 | €37,985 | -€21,185 | -35.8% |
| Tangible fixed assets | 22/27 | €133,675 | €171,524 | +€37,849 | +28.3% |
| Plant, machinery and equipment | 23 | €23,922 | €21,367 | -€2,555 | -10.7% |
| Furniture and vehicles | 24 | €61,182 | €112,921 | +€51,739 | +84.6% |
| Other tangible fixed assets | 26 | €48,571 | €37,235 | -€11,335 | -23.3% |
| Current assets | 29/58 | €2,545,528 | €3,080,656 | +€535,128 | +21.0% |
| Stocks and contracts in progress | 3 | €616,016 | €481,320 | -€134,696 | -21.9% |
| Stocks | 30/36 | €616,016 | €481,320 | -€134,696 | -21.9% |
| Amounts receivable within one year | 40/41 | €1,218,382 | €1,677,188 | +€458,806 | +37.7% |
| Trade receivables | 40 | €1,207,186 | €1,635,542 | +€428,356 | +35.5% |
| Other amounts receivable | 41 | €11,196 | €41,646 | +€30,450 | +272% |
| Current investments | 50/53 | - | €350,000 | +€350,000 | |
| Cash at bank and in hand | 54/58 | €650,442 | €532,353 | -€118,089 | -18.2% |
| Deferred charges and accrued income | 490/1 | €60,687 | €39,795 | -€20,892 | -34.4% |
| Total equity and liabilities | 10/49 | €2,738,373 | €3,290,165 | +€551,792 | +20.2% |
| Equity | 10/15 | €691,206 | €722,258 | +€31,052 | +4.5% |
| Contributions | 10/11 | €29,903 | €29,903 | = | 0.0% |
| Reserves | 13 | €21,740 | €21,740 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €2,990 | €2,990 | = | 0.0% |
| Profit (loss) carried forward | 14 | €639,562 | €670,614 | +€31,052 | +4.9% |
| Amounts payable | 17/49 | €2,047,167 | €2,567,907 | +€520,740 | +25.4% |
| Amounts payable after more than one year | 17 | €45,253 | €26,225 | -€19,029 | -42.0% |
| Financial debts | 170/4 | €45,253 | €26,225 | -€19,029 | -42.0% |
| Amounts payable within one year | 42/48 | €1,089,272 | €1,200,106 | +€110,834 | +10.2% |
| Current portion of amounts payable after more than one year | 42 | €20,750 | €19,029 | -€1,721 | -8.3% |
| Financial debts | 43 | €148,290 | €155,365 | +€7,075 | +4.8% |
| Credit institutions | 430/8 | €148,290 | €155,365 | +€7,075 | +4.8% |
| Trade debts | 44 | €282,391 | €249,844 | -€32,547 | -11.5% |
| Suppliers | 440/4 | €282,391 | €249,844 | -€32,547 | -11.5% |
| Advances received on contracts in progress | 46 | €291,281 | €225,244 | -€66,037 | -22.7% |
| Taxes, remuneration and social security | 45 | €345,345 | €399,408 | +€54,063 | +15.7% |
| Taxes | 450/3 | €68,625 | €141,740 | +€73,115 | +107% |
| Remuneration and social security | 454/9 | €276,720 | €257,669 | -€19,052 | -6.9% |
| Other amounts payable | 47/48 | €1,215 | €151,215 | +€150,000 | +12,345% |
| Accrued charges and deferred income | 492/3 | €912,641 | €1,341,576 | +€428,934 | +47.0% |
| Remuneration, social security and pensions | 62 | €2,168,862 | €2,171,847 | +€2,985 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,619 | €59,251 | +€1,631 | +2.8% |
| Other operating charges | 640/8 | €22,369 | €14,568 | -€7,801 | -34.9% |
| Gross operating margin | 9900 | €2,418,876 | €2,492,601 | +€73,726 | +3.0% |
| Operating profit (loss) | 9901 | €170,026 | €246,936 | +€76,910 | +45.2% |
| Financial income | 75/76B | €1,287 | €13,558 | +€12,271 | +954% |
| Recurring financial income | 75 | €1,287 | €11,270 | +€9,983 | +776% |
| Non-recurring financial income | 76B | - | €2,287 | +€2,287 | |
| Financial charges | 65/66B | €21,559 | €52,697 | +€31,138 | +144% |
| Recurring financial charges | 65 | €21,559 | €43,296 | +€21,737 | +101% |
| Non-recurring financial charges | 66B | - | €9,401 | +€9,401 | |
| Profit (loss) for the period before taxes | 9903 | €149,754 | €207,797 | +€58,043 | +38.8% |
| Income taxes | 67/77 | €49,345 | €26,745 | -€22,601 | -45.8% |
| Profit (loss) for the period | 9904 | €100,409 | €181,052 | +€80,643 | +80.3% |
| Profit (loss) for the period to be appropriated | 9905 | €100,409 | €181,052 | +€80,643 | +80.3% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.