EMAAR: 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.
What changed
EMAAR
NACE 70.200, Business and other management consultancy
financial year 2024 compared with 2023filed annual accounts (NBB)
Net result for the year
-€67,295
2023 · -€840,757+€773,462
Equity
€1.3m
2023 · €973,632+€341,318
Cash
€29
2023 · €87-€57
Balance sheet total
€4.5m
2023 · €3.9m+€548,414
Largest movements
Assets
- Tangible fixed assets +€697,256
up €697,256 (+31.6%), from €2.2m to €2.9m
of which Land and buildings: +€755,830
- Receivables within one year -€148,784
down €148,784 (-69.7%), from €213,518 to €64,734
of which Trade receivables: -€90,470
Equity and liabilities
- Investment grants +€408,613
up €408,613 (+232%), from €175,774 to €584,387
- Short-term financial debts +€278,274
up €278,274 (+58.6%), from €474,567 to €752,841
- Provisions +€107,996
up €107,996 (+19.0%), from €568,640 to €676,636
- Other debts -€101,982
down €101,982 (-66.5%), from €153,352 to €51,370
- Debts after one year -€99,497
down €99,497 (-9.2%), from €1.1m to €977,924
Income statement
- Financial income +€31,679
up €31,679 (+49,747%), from €64 to €31,743
- Financial charges +€15,786
up €15,786 (+31.9%), from €49,469 to €65,255
- Staff costs +€9,158
up €9,158 (+46.5%), from €19,704 to €28,862
- Gross operating margin -€9,118
down €9,118 (-4.6%), from €197,225 to €188,107
- Other operating charges -€7,997
down €7,997 (-38.9%), from €20,552 to €12,555
From the 2023 result to the 2024 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.
Result 2023
-€840,757
Gross operating margin
-€9,118
Staff costs
-€9,158
Depreciation
+€1,064
Other operating charges
+€7,997
Other operating items
+€761,358
Financial income
+€31,679
Financial charges
-€15,786
Taxes
+€2,531
Deferred taxes and other
+€2,896
Result 2024
-€67,295
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€336,170
Investment
-€915,134
Financing
+€578,906
Cash 2023
€87
From operations (derived)
+€336,170
Net result for the year
-€67,295
Depreciation
+€217,878
Receivables within one year
+€148,784
Provisions
+€107,996
Trade debts
+€10,308
Tax, wage and social debts
+€20,169
Advances received
+€312
Other debts
-€101,982
Investment (derived)
-€915,134
Investment in fixed assets (net)
-€915,134
Financing
+€578,906
Debts after one year
-€99,497
Current portion of long-term debt
-€8,483
Short-term financial debts
+€278,274
Contributions, distributions and other
+€408,613
Cash 2024
€29
brings cash intakes cash out
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,923,386 | €4,471,800 | +€548,414 | +14.0% |
| Fixed assets | 21/28 | €3,709,780 | €4,407,036 | +€697,256 | +18.8% |
| Tangible fixed assets | 22/27 | €2,209,780 | €2,907,036 | +€697,256 | +31.6% |
| Land and buildings | 22 | €2,074,589 | €2,830,419 | +€755,830 | +36.4% |
| Plant, machinery and equipment | 23 | €41,983 | €30,839 | -€11,145 | -26.5% |
| Furniture and vehicles | 24 | €93,208 | €45,779 | -€47,430 | -50.9% |
| Financial fixed assets | 28 | €1,500,000 | €1,500,000 | = | 0.0% |
| Current assets | 29/58 | €213,605 | €64,764 | -€148,842 | -69.7% |
| Amounts receivable within one year | 40/41 | €213,518 | €64,734 | -€148,784 | -69.7% |
| Trade receivables | 40 | €131,620 | €41,150 | -€90,470 | -68.7% |
| Other amounts receivable | 41 | €81,899 | €23,585 | -€58,314 | -71.2% |
| Cash at bank and in hand | 54/58 | €87 | €29 | -€57 | -66.2% |
| Total equity and liabilities | 10/49 | €3,923,386 | €4,471,800 | +€548,414 | +14.0% |
| Equity | 10/15 | €973,632 | €1,314,950 | +€341,318 | +35.1% |
| Contributions | 10/11 | €266,494 | €266,494 | = | 0.0% |
| Capital | 10 | €266,494 | €266,494 | = | 0.0% |
| Issued capital | 100 | €266,494 | €266,494 | = | 0.0% |
| Reserves | 13 | €1,290,084 | €1,220,233 | -€69,851 | -5.4% |
| Non-distributable reserves | 130/1 | €1,347 | €1,347 | = | 0.0% |
| Legal reserve | 130 | €1,347 | €1,347 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,277,264 | €1,207,413 | -€69,851 | -5.5% |
| Distributable reserves | 133 | €11,473 | €11,473 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€758,720 | -€756,164 | +€2,556 | +0.3% |
| Investment grants | 15 | €175,774 | €584,387 | +€408,613 | +232% |
| Provisions and deferred taxes | 16 | €568,640 | €676,636 | +€107,996 | +19.0% |
| Deferred taxes | 168 | €568,640 | €676,636 | +€107,996 | +19.0% |
| Amounts payable | 17/49 | €2,381,114 | €2,480,214 | +€99,100 | +4.2% |
| Amounts payable after more than one year | 17 | €1,077,420 | €977,924 | -€99,497 | -9.2% |
| Financial debts | 170/4 | €1,077,420 | €977,924 | -€99,497 | -9.2% |
| Amounts payable within one year | 42/48 | €1,303,693 | €1,502,290 | +€198,597 | +15.2% |
| Current portion of amounts payable after more than one year | 42 | €107,980 | €99,497 | -€8,483 | -7.9% |
| Financial debts | 43 | €474,567 | €752,841 | +€278,274 | +58.6% |
| Credit institutions | 430/8 | €474,567 | €752,841 | +€278,274 | +58.6% |
| Trade debts | 44 | €558,421 | €568,730 | +€10,308 | +1.8% |
| Suppliers | 440/4 | €558,421 | €568,730 | +€10,308 | +1.8% |
| Advances received on contracts in progress | 46 | €121 | €433 | +€312 | +258% |
| Taxes, remuneration and social security | 45 | €9,251 | €29,420 | +€20,169 | +218% |
| Taxes | 450/3 | €3,825 | €5,118 | +€1,294 | +33.8% |
| Remuneration and social security | 454/9 | €5,427 | €24,301 | +€18,875 | +348% |
| Other amounts payable | 47/48 | €153,352 | €51,370 | -€101,982 | -66.5% |
| Remuneration, social security and pensions | 62 | €19,704 | €28,862 | +€9,158 | +46.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €218,942 | €217,878 | -€1,064 | -0.5% |
| Other operating charges | 640/8 | €20,552 | €12,555 | -€7,997 | -38.9% |
| Non-recurring operating charges | 66A | €761,358 | - | -€761,358 | |
| Gross operating margin | 9900 | €197,225 | €188,107 | -€9,118 | -4.6% |
| Operating profit (loss) | 9901 | -€823,330 | -€71,188 | +€752,143 | +91.4% |
| Financial income | 75/76B | €64 | €31,743 | +€31,679 | +49,747% |
| Recurring financial income | 75 | €64 | €31,743 | +€31,679 | +49,747% |
| Financial charges | 65/66B | €49,469 | €65,255 | +€15,786 | +31.9% |
| Recurring financial charges | 65 | €49,469 | €65,255 | +€15,786 | +31.9% |
| Profit (loss) for the period before taxes | 9903 | -€872,735 | -€104,700 | +€768,035 | +88.0% |
| Transfer from deferred taxes | 780 | €35,803 | €38,699 | +€2,896 | +8.1% |
| Income taxes | 67/77 | €3,825 | €1,294 | -€2,531 | -66.2% |
| Profit (loss) for the period | 9904 | -€840,757 | -€67,295 | +€773,462 | +92.0% |
| Transfer from tax-exempt reserves | 789 | €89,598 | €69,851 | -€19,748 | -22.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€751,159 | €2,556 | +€753,714 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.