EMACC: 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.
EMACC
Largest movements
- Receivables within one year +€43,627
up €43,627 (+158%), from €27,699 to €71,326
of which Trade receivables: +€46,931
- Intangible fixed assets -€21,743
down €21,743 (-20.0%), from €108,715 to €86,972
- Cash +€18,073
up €18,073 (+43.4%), from €41,641 to €59,714
mainly Net result for the year (+€39,241) and Depreciation (+€30,751)
- Reserves +€36,741
up €36,741 (+61.8%), from €59,412 to €96,153
of which Distributable reserves: +€36,741
- Trade debts +€13,815
up €13,815 (+116%), from €11,899 to €25,713
- Debts after one year -€11,499
down €11,499 (-31.9%), from €36,093 to €24,594
- Current portion of long-term debt -€10,251
down €10,251 (-47.1%), from €21,750 to €11,499
- Tax, wage and social debts +€6,840
up €6,840 (+126%), from €5,420 to €12,260
of which Remuneration and social security: +€5,016
- Write-downs -€6,860
down €6,860 (-100%), from €6,860 to €0
- Gross operating margin +€4,805
up €4,805 (+4.1%), from €117,402 to €122,207
- Taxes +€3,625
up €3,625 (+27.3%), from €13,276 to €16,901
- Depreciation +€2,227
up €2,227 (+7.8%), from €28,524 to €30,751
- Financial income +€1,657
up €1,657 (+250%), from €662 to €2,319
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 | €221,749 | €261,751 | +€40,002 | +18.0% |
| Fixed assets | 21/28 | €141,752 | €120,562 | -€21,190 | -14.9% |
| Intangible fixed assets | 21 | €108,715 | €86,972 | -€21,743 | -20.0% |
| Tangible fixed assets | 22/27 | €33,037 | €33,590 | +€553 | +1.7% |
| Land and buildings | 22 | €27,494 | €21,991 | -€5,503 | -20.0% |
| Furniture and vehicles | 24 | €5,542 | €11,598 | +€6,056 | +109% |
| Current assets | 29/58 | €79,997 | €141,189 | +€61,192 | +76.5% |
| Amounts receivable within one year | 40/41 | €27,699 | €71,326 | +€43,627 | +158% |
| Trade receivables | 40 | €21,567 | €68,498 | +€46,931 | +218% |
| Other amounts receivable | 41 | €6,131 | €2,828 | -€3,303 | -53.9% |
| Cash at bank and in hand | 54/58 | €41,641 | €59,714 | +€18,073 | +43.4% |
| Deferred charges and accrued income | 490/1 | €10,658 | €10,150 | -€508 | -4.8% |
| Total equity and liabilities | 10/49 | €221,749 | €261,751 | +€40,002 | +18.0% |
| Equity | 10/15 | €84,431 | €121,172 | +€36,741 | +43.5% |
| Contributions | 10/11 | €19,500 | €19,500 | = | 0.0% |
| Reserves | 13 | €59,412 | €96,153 | +€36,741 | +61.8% |
| Tax-exempt reserves | 132 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €57,412 | €94,153 | +€36,741 | +64.0% |
| Profit (loss) carried forward | 14 | €5,519 | €5,519 | = | 0.0% |
| Amounts payable | 17/49 | €137,317 | €140,579 | +€3,262 | +2.4% |
| Amounts payable after more than one year | 17 | €36,093 | €24,594 | -€11,499 | -31.9% |
| Financial debts | 170/4 | €36,093 | €24,594 | -€11,499 | -31.9% |
| Amounts payable within one year | 42/48 | €100,489 | €115,985 | +€15,497 | +15.4% |
| Current portion of amounts payable after more than one year | 42 | €21,750 | €11,499 | -€10,251 | -47.1% |
| Financial debts | 43 | €3,419 | €3,395 | -€23 | -0.7% |
| Credit institutions | 430/8 | €3,419 | €3,395 | -€23 | -0.7% |
| Trade debts | 44 | €11,899 | €25,713 | +€13,815 | +116% |
| Suppliers | 440/4 | €11,899 | €25,713 | +€13,815 | +116% |
| Taxes, remuneration and social security | 45 | €5,420 | €12,260 | +€6,840 | +126% |
| Taxes | 450/3 | €1,649 | €3,474 | +€1,824 | +111% |
| Remuneration and social security | 454/9 | €3,771 | €8,786 | +€5,016 | +133% |
| Other amounts payable | 47/48 | €58,001 | €63,117 | +€5,116 | +8.8% |
| Accrued charges and deferred income | 492/3 | €736 | €0 | -€736 | -100% |
| Remuneration, social security and pensions | 62 | €34,027 | €33,475 | -€553 | -1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,524 | €30,751 | +€2,227 | +7.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €6,860 | €0 | -€6,860 | -100% |
| Other operating charges | 640/8 | €1,798 | €2,511 | +€713 | +39.6% |
| Gross operating margin | 9900 | €117,402 | €122,207 | +€4,805 | +4.1% |
| Operating profit (loss) | 9901 | €46,193 | €55,471 | +€9,278 | +20.1% |
| Financial income | 75/76B | €662 | €2,319 | +€1,657 | +250% |
| Recurring financial income | 75 | €662 | €2,319 | +€1,657 | +250% |
| Financial charges | 65/66B | €2,417 | €1,648 | -€769 | -31.8% |
| Recurring financial charges | 65 | €2,417 | €1,648 | -€769 | -31.8% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €44,438 | €56,142 | +€11,704 | +26.3% |
| Income taxes | 67/77 | €13,276 | €16,901 | +€3,625 | +27.3% |
| Profit (loss) for the period | 9904 | €31,162 | €39,241 | +€8,079 | +25.9% |
| Profit (loss) for the period to be appropriated | 9905 | €31,162 | €39,241 | +€8,079 | +25.9% |
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 13 October 2026 via checked.be.