EM-JE: 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-JE
Largest movements
- Current investments -€127,179
down €127,179 (-100%), from €127,179 to €0
- Cash +€87,159
up €87,159 (+1,826%), from €4,773 to €91,933
mainly Current investments (+€127,179) and Net result for the year (+€88,757)
- Receivables within one year +€12,730
up €12,730 (+34.9%), from €36,439 to €49,168
of which Trade receivables: +€16,561
- Deferred charges and accrued income -€3,887
down €3,887 (-77.0%), from €5,046 to €1,159
- Other debts -€38,937
down €38,937 (-34.6%), from €112,684 to €73,747
- Tax, wage and social debts +€10,401
up €10,401 (+91.7%), from €11,343 to €21,744
of which Taxes: +€10,419
- Gross operating margin +€16,863
up €16,863 (+14.6%), from €115,169 to €132,032
- Taxes +€6,415
up €6,415 (+24.3%), from €26,350 to €32,765
- Depreciation +€5,066
up €5,066 (+211%), from €2,398 to €7,463
- Financial charges +€2,100
up €2,100 (+762%), from €276 to €2,375
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 | €212,133 | €182,276 | -€29,858 | -14.1% |
| Fixed assets | 21/28 | €38,696 | €40,015 | +€1,319 | +3.4% |
| Tangible fixed assets | 22/27 | €38,696 | €40,015 | +€1,319 | +3.4% |
| Furniture and vehicles | 24 | €16,704 | €20,318 | +€3,614 | +21.6% |
| Other tangible fixed assets | 26 | €21,992 | €19,697 | -€2,295 | -10.4% |
| Current assets | 29/58 | €173,437 | €142,260 | -€31,177 | -18.0% |
| Amounts receivable within one year | 40/41 | €36,439 | €49,168 | +€12,730 | +34.9% |
| Trade receivables | 40 | €24,870 | €41,431 | +€16,561 | +66.6% |
| Other amounts receivable | 41 | €11,569 | €7,737 | -€3,831 | -33.1% |
| Current investments | 50/53 | €127,179 | €0 | -€127,179 | -100% |
| Cash at bank and in hand | 54/58 | €4,773 | €91,933 | +€87,159 | +1,826% |
| Deferred charges and accrued income | 490/1 | €5,046 | €1,159 | -€3,887 | -77.0% |
| Total equity and liabilities | 10/49 | €212,133 | €182,276 | -€29,858 | -14.1% |
| Equity | 10/15 | €81,838 | €80,000 | -€1,838 | -2.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €71,838 | €70,000 | -€1,838 | -2.6% |
| Amounts payable | 17/49 | €130,295 | €102,276 | -€28,020 | -21.5% |
| Amounts payable within one year | 42/48 | €128,229 | €99,959 | -€28,271 | -22.0% |
| Trade debts | 44 | €4,202 | €4,467 | +€265 | +6.3% |
| Suppliers | 440/4 | €4,202 | €4,467 | +€265 | +6.3% |
| Taxes, remuneration and social security | 45 | €11,343 | €21,744 | +€10,401 | +91.7% |
| Taxes | 450/3 | €7,809 | €18,228 | +€10,419 | +133% |
| Remuneration and social security | 454/9 | €3,533 | €3,516 | -€18 | -0.5% |
| Other amounts payable | 47/48 | €112,684 | €73,747 | -€38,937 | -34.6% |
| Accrued charges and deferred income | 492/3 | €2,066 | €2,317 | +€251 | +12.2% |
| Non-recurring operating income | 76A | - | €23,902 | +€23,902 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,398 | €7,463 | +€5,066 | +211% |
| Other operating charges | 640/8 | €2,580 | €2,329 | -€251 | -9.7% |
| Gross operating margin | 9900 | €115,169 | €132,032 | +€16,863 | +14.6% |
| Operating profit (loss) | 9901 | €110,191 | €122,240 | +€12,048 | +10.9% |
| Financial income | 75/76B | €2,634 | €1,657 | -€977 | -37.1% |
| Recurring financial income | 75 | €2,634 | €1,657 | -€977 | -37.1% |
| Financial charges | 65/66B | €276 | €2,375 | +€2,100 | +762% |
| Recurring financial charges | 65 | €276 | €2,375 | +€2,100 | +762% |
| Profit (loss) for the period before taxes | 9903 | €112,550 | €121,522 | +€8,972 | +8.0% |
| Income taxes | 67/77 | €26,350 | €32,765 | +€6,415 | +24.3% |
| Profit (loss) for the period | 9904 | €86,200 | €88,757 | +€2,557 | +3.0% |
| Profit (loss) for the period to be appropriated | 9905 | €86,200 | €88,757 | +€2,557 | +3.0% |
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 20 October 2026 via checked.be.