EM KWADRAAT: 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 KWADRAAT
Largest movements
- Receivables within one year +€4,829
up €4,829 (+1,784%), from €271 to €5,100
of which Trade receivables: +€5,100
- Cash +€2,578
up €2,578 (+618%), from €417 to €2,995
mainly Other debts (+€9,340) and Net result for the year (+€2,731)
- Tangible fixed assets -€1,356
down €1,356 (-8.6%), from €15,847 to €14,491
of which Furniture and vehicles: -€752
- Other debts +€9,340
up €9,340 (+81.0%), from €11,529 to €20,869
- Tax, wage and social debts -€7,970
down €7,970 (-81.9%), from €9,729 to €1,760
- Profit (loss) carried forward +€2,731
up €2,731 (+10.1%), from -€27,165 to -€24,434
- Accrued charges and deferred income +€1,581
up €1,581 (+353%), from €448 to €2,029
- Gross operating margin +€29,632
up €29,632, from -€21,702 to €7,930
- Financial charges -€674
down €674 (-22.3%), from €3,029 to €2,355
- Other operating charges +€302
up €302 (+34.9%), from €867 to €1,169
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 | €16,815 | €22,666 | +€5,851 | +34.8% |
| Fixed assets | 21/28 | €15,847 | €14,491 | -€1,356 | -8.6% |
| Tangible fixed assets | 22/27 | €15,847 | €14,491 | -€1,356 | -8.6% |
| Plant, machinery and equipment | 23 | €4,980 | €4,377 | -€604 | -12.1% |
| Furniture and vehicles | 24 | €10,866 | €10,114 | -€752 | -6.9% |
| Current assets | 29/58 | €968 | €8,175 | +€7,207 | +745% |
| Amounts receivable within one year | 40/41 | €271 | €5,100 | +€4,829 | +1,784% |
| Trade receivables | 40 | €0 | €5,100 | +€5,100 | |
| Other amounts receivable | 41 | €271 | €0 | -€271 | -100% |
| Cash at bank and in hand | 54/58 | €417 | €2,995 | +€2,578 | +618% |
| Deferred charges and accrued income | 490/1 | €280 | €80 | -€200 | -71.4% |
| Total equity and liabilities | 10/49 | €16,815 | €22,666 | +€5,851 | +34.8% |
| Equity | 10/15 | -€5,925 | -€3,194 | +€2,731 | +46.1% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €15,241 | €15,241 | = | 0.0% |
| Distributable reserves | 133 | €15,241 | €15,241 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€27,165 | -€24,434 | +€2,731 | +10.1% |
| Amounts payable | 17/49 | €22,739 | €25,859 | +€3,120 | +13.7% |
| Amounts payable within one year | 42/48 | €22,291 | €23,831 | +€1,539 | +6.9% |
| Trade debts | 44 | €1,033 | €1,202 | +€169 | +16.4% |
| Suppliers | 440/4 | €1,033 | €1,202 | +€169 | +16.4% |
| Taxes, remuneration and social security | 45 | €9,729 | €1,760 | -€7,970 | -81.9% |
| Taxes | 450/3 | €9,729 | €1,760 | -€7,970 | -81.9% |
| Other amounts payable | 47/48 | €11,529 | €20,869 | +€9,340 | +81.0% |
| Accrued charges and deferred income | 492/3 | €448 | €2,029 | +€1,581 | +353% |
| Non-recurring operating income | 76A | - | €2,272 | +€2,272 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,356 | €1,356 | -€0 | 0.0% |
| Other operating charges | 640/8 | €867 | €1,169 | +€302 | +34.9% |
| Gross operating margin | 9900 | -€21,702 | €7,930 | +€29,632 | |
| Operating profit (loss) | 9901 | -€23,925 | €5,405 | +€29,330 | |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €3,029 | €2,355 | -€674 | -22.3% |
| Recurring financial charges | 65 | €3,029 | €2,355 | -€674 | -22.3% |
| Profit (loss) for the period before taxes | 9903 | -€26,954 | €3,051 | +€30,004 | |
| Income taxes | 67/77 | €212 | €320 | +€108 | +51.0% |
| Profit (loss) for the period | 9904 | -€27,165 | €2,731 | +€29,896 | |
| Profit (loss) for the period to be appropriated | 9905 | -€27,165 | €2,731 | +€29,896 |
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 31 October 2026 via checked.be.