EM Recruitment: 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 Recruitment
Largest movements
- Cash -€31,350
down €31,350 (-71.5%), from €43,849 to €12,499
mainly Contributions, distributions and other (-€24,700) and Tax, wage and social debts (-€20,447)
- Receivables within one year -€19,128
down €19,128 (-53.5%), from €35,765 to €16,637
- Deferred charges and accrued income -€5,397
down €5,397 (-100%), from €5,397 to €0
- Receivables after one year -€4,284
down €4,284 (-25.5%), from €16,784 to €12,500
- Tangible fixed assets -€3,805
down €3,805 (-34.5%), from €11,044 to €7,238
of which Furniture and vehicles: -€3,643
- Profit (loss) carried forward -€39,894
down €39,894, from €24,700 to -€15,193
- Tax, wage and social debts -€20,447
down €20,447 (-62.1%), from €32,948 to €12,502
- Trade debts -€3,465
down €3,465 (-88.4%), from €3,920 to €455
- Gross operating margin -€47,772
down €47,772, from €37,560 to -€10,212
- Taxes -€8,630
down €8,630 (-98.1%), from €8,794 to €164
- Depreciation +€509
up €509 (+15.4%), from €3,297 to €3,805
- Financial charges +€432
up €432 (+23.0%), from €1,880 to €2,313
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 | €112,840 | €48,874 | -€63,965 | -56.7% |
| Fixed assets | 21/28 | €11,044 | €7,238 | -€3,805 | -34.5% |
| Tangible fixed assets | 22/27 | €11,044 | €7,238 | -€3,805 | -34.5% |
| Furniture and vehicles | 24 | €9,616 | €5,973 | -€3,643 | -37.9% |
| Other tangible fixed assets | 26 | €1,428 | €1,266 | -€162 | -11.4% |
| Current assets | 29/58 | €101,796 | €41,636 | -€60,160 | -59.1% |
| Amounts receivable after more than one year | 29 | €16,784 | €12,500 | -€4,284 | -25.5% |
| Other amounts receivable | 291 | €16,784 | €12,500 | -€4,284 | -25.5% |
| Amounts receivable within one year | 40/41 | €35,765 | €16,637 | -€19,128 | -53.5% |
| Other amounts receivable | 41 | €35,765 | €16,637 | -€19,128 | -53.5% |
| Cash at bank and in hand | 54/58 | €43,849 | €12,499 | -€31,350 | -71.5% |
| Deferred charges and accrued income | 490/1 | €5,397 | €0 | -€5,397 | -100% |
| Total equity and liabilities | 10/49 | €112,840 | €48,874 | -€63,965 | -56.7% |
| Equity | 10/15 | €75,812 | €35,918 | -€39,894 | -52.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €50,111 | €50,111 | = | 0.0% |
| Distributable reserves | 133 | €50,111 | €50,111 | = | 0.0% |
| Profit (loss) carried forward | 14 | €24,700 | -€15,193 | -€39,894 | |
| Amounts payable | 17/49 | €37,028 | €12,957 | -€24,071 | -65.0% |
| Amounts payable within one year | 42/48 | €36,868 | €12,957 | -€23,911 | -64.9% |
| Trade debts | 44 | €3,920 | €455 | -€3,465 | -88.4% |
| Suppliers | 440/4 | €3,920 | €455 | -€3,465 | -88.4% |
| Taxes, remuneration and social security | 45 | €32,948 | €12,502 | -€20,447 | -62.1% |
| Taxes | 450/3 | €32,948 | €12,502 | -€20,447 | -62.1% |
| Accrued charges and deferred income | 492/3 | €160 | €0 | -€160 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,297 | €3,805 | +€509 | +15.4% |
| Other operating charges | 640/8 | €909 | €782 | -€127 | -13.9% |
| Gross operating margin | 9900 | €37,560 | -€10,212 | -€47,772 | |
| Operating profit (loss) | 9901 | €33,355 | -€14,799 | -€48,154 | |
| Financial income | 75/76B | €2,021 | €2,083 | +€62 | +3.1% |
| Recurring financial income | 75 | €2,021 | €2,083 | +€62 | +3.1% |
| Financial charges | 65/66B | €1,880 | €2,313 | +€432 | +23.0% |
| Recurring financial charges | 65 | €1,880 | €2,313 | +€432 | +23.0% |
| Profit (loss) for the period before taxes | 9903 | €33,495 | -€15,029 | -€48,524 | |
| Income taxes | 67/77 | €8,794 | €164 | -€8,630 | -98.1% |
| Profit (loss) for the period | 9904 | €24,700 | -€15,193 | -€39,894 | |
| Profit (loss) for the period to be appropriated | 9905 | €24,700 | -€15,193 | -€39,894 |
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 25 October 2026 via checked.be.