EMACOR: what changed
Two fiscal 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.
EMACOR
Largest movements
- Receivables within one year -€4,037
down €4,037 (-5.9%), from €68,609 to €64,572
- Cash -€918
no longer reported in 2025 (was €918)
mainly Net result for the year (-€4,712) and Trade debts (-€774)
- Profit (loss) carried forward -€4,712
down €4,712 (-12.8%), from €36,869 to €32,157
- Trade debts -€774
down €774 (-68.1%), from €1,137 to €363
- Gross operating margin +€13,468
up €13,468 (+75.8%), from -€17,763 to -€4,295
- Financial income -€4,575
no longer reported in 2025 (was €4,575)
- Other operating charges -€231
down €231 (-63.4%), from €365 to €133
- Depreciation -€193
down €193 (-58.3%), from €330 to €138
From the 31-12-2024 result to the 31-12-2025 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.
Cash bridge derived
Derived from the 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €70,066 | €64,580 | -€5,486 | -7.8% |
| Fixed assets | 21/28 | €138 | - | -€138 | |
| Tangible fixed assets | 22/27 | €138 | - | -€138 | |
| Plant, machinery and equipment | 23 | €138 | - | -€138 | |
| Current assets | 29/58 | €69,929 | €64,580 | -€5,349 | -7.6% |
| Amounts receivable within one year | 40/41 | €68,609 | €64,572 | -€4,037 | -5.9% |
| Other amounts receivable | 41 | €68,609 | €64,572 | -€4,037 | -5.9% |
| Current investments | 50/53 | - | €7 | +€7 | |
| Cash at bank and in hand | 54/58 | €918 | - | -€918 | |
| Deferred charges and accrued income | 490/1 | €401 | - | -€401 | |
| Total equity and liabilities | 10/49 | €70,066 | €64,580 | -€5,486 | -7.8% |
| Equity | 10/15 | €68,929 | €64,217 | -€4,712 | -6.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €25,860 | €25,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €24,000 | €24,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €36,869 | €32,157 | -€4,712 | -12.8% |
| Amounts payable | 17/49 | €1,137 | €363 | -€774 | -68.1% |
| Amounts payable within one year | 42/48 | €1,137 | €363 | -€774 | -68.1% |
| Trade debts | 44 | €1,137 | €363 | -€774 | -68.1% |
| Suppliers | 440/4 | €1,137 | €363 | -€774 | -68.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €330 | €138 | -€193 | -58.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €80 | - | -€80 | |
| Other operating charges | 640/8 | €365 | €133 | -€231 | -63.4% |
| Gross operating margin | 9900 | -€17,763 | -€4,295 | +€13,468 | +75.8% |
| Operating profit (loss) | 9901 | -€18,538 | -€4,566 | +€13,972 | +75.4% |
| Financial income | 75/76B | €4,575 | - | -€4,575 | |
| Recurring financial income | 75 | €4,575 | - | -€4,575 | |
| Financial charges | 65/66B | €165 | €146 | -€19 | -11.5% |
| Recurring financial charges | 65 | €165 | €146 | -€19 | -11.5% |
| Profit (loss) for the period before taxes | 9903 | -€14,128 | -€4,712 | +€9,416 | +66.6% |
| Profit (loss) for the period | 9904 | -€14,128 | -€4,712 | +€9,416 | +66.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,128 | -€4,712 | +€9,416 | +66.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.