EMAE INVEST: what changed
EMAE INVEST
Largest movements
- Receivables within one year +€94,505
up €94,505 (+401%), from €23,563 to €118,068
of which Other amounts receivable: +€83,944
- Financial fixed assets +€44,600
up €44,600 (+39.9%), from €111,650 to €156,250
- Cash -€21,576
down €21,576 (-25.8%), from €83,720 to €62,144
mainly Contributions, distributions and other (-€263,015) and Receivables within one year (-€94,505)
- Tangible fixed assets -€8,607
down €8,607 (-18.7%), from €46,047 to €37,440
of which Furniture and vehicles: -€8,180
- Current investments +€4,999
up €4,999 (+22.4%), from €22,275 to €27,274
- Other debts +€138,940
up €138,940 (+326%), from €42,562 to €181,502
- Debts after one year -€22,798
down €22,798 (-27.5%), from €82,931 to €60,132
- Financial income +€189,760
up €189,760 (+396%), from €47,892 to €237,652
- Gross operating margin +€7,093
up €7,093 (+16.1%), from €43,934 to €51,027
- Taxes +€1,515
up €1,515 (+18.2%), from €8,337 to €9,853
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €289,718 | €402,295 | +€112,577 | +38.9% |
| Formation expenses | 20 | €65 | - | -€65 | |
| Fixed assets | 21/28 | €157,697 | €193,690 | +€35,993 | +22.8% |
| Tangible fixed assets | 22/27 | €46,047 | €37,440 | -€8,607 | -18.7% |
| Furniture and vehicles | 24 | €43,625 | €35,445 | -€8,180 | -18.8% |
| Other tangible fixed assets | 26 | €2,421 | €1,995 | -€426 | -17.6% |
| Financial fixed assets | 28 | €111,650 | €156,250 | +€44,600 | +39.9% |
| Current assets | 29/58 | €131,957 | €208,605 | +€76,648 | +58.1% |
| Amounts receivable within one year | 40/41 | €23,563 | €118,068 | +€94,505 | +401% |
| Trade receivables | 40 | €11,719 | €22,280 | +€10,561 | +90.1% |
| Other amounts receivable | 41 | €11,844 | €95,788 | +€83,944 | +709% |
| Current investments | 50/53 | €22,275 | €27,274 | +€4,999 | +22.4% |
| Cash at bank and in hand | 54/58 | €83,720 | €62,144 | -€21,576 | -25.8% |
| Deferred charges and accrued income | 490/1 | €2,398 | €1,118 | -€1,280 | -53.4% |
| Total equity and liabilities | 10/49 | €289,718 | €402,295 | +€112,577 | +38.9% |
| Equity | 10/15 | €135,220 | €135,220 | = | 0.0% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €129,220 | €129,220 | = | 0.0% |
| Distributable reserves | 133 | €129,220 | €129,220 | = | 0.0% |
| Amounts payable | 17/49 | €154,498 | €267,075 | +€112,577 | +72.9% |
| Amounts payable after more than one year | 17 | €82,931 | €60,132 | -€22,798 | -27.5% |
| Financial debts | 170/4 | €82,931 | €60,132 | -€22,798 | -27.5% |
| Amounts payable within one year | 42/48 | €71,568 | €206,943 | +€135,375 | +189% |
| Financial debts | 43 | €22,497 | €22,798 | +€302 | +1.3% |
| Credit institutions | 430/8 | €22,497 | €22,798 | +€302 | +1.3% |
| Trade debts | 44 | €3,570 | €2,642 | -€928 | -26.0% |
| Suppliers | 440/4 | €3,570 | €2,642 | -€928 | -26.0% |
| Taxes, remuneration and social security | 45 | €2,939 | - | -€2,939 | |
| Remuneration and social security | 454/9 | €2,939 | - | -€2,939 | |
| Other amounts payable | 47/48 | €42,562 | €181,502 | +€138,940 | +326% |
| Non-recurring operating income | 76A | €0 | €828 | +€828 | +4,138,400% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,676 | €13,570 | -€106 | -0.8% |
| Other operating charges | 640/8 | €589 | €725 | +€136 | +23.1% |
| Gross operating margin | 9900 | €43,934 | €51,027 | +€7,093 | +16.1% |
| Operating profit (loss) | 9901 | €29,670 | €36,733 | +€7,063 | +23.8% |
| Financial income | 75/76B | €47,892 | €237,652 | +€189,760 | +396% |
| Recurring financial income | 75 | €47,892 | €237,652 | +€189,760 | +396% |
| Financial charges | 65/66B | €1,662 | €1,516 | -€145 | -8.7% |
| Recurring financial charges | 65 | €1,662 | €1,516 | -€145 | -8.7% |
| Profit (loss) for the period before taxes | 9903 | €75,900 | €272,868 | +€196,968 | +260% |
| Income taxes | 67/77 | €8,337 | €9,853 | +€1,515 | +18.2% |
| Profit (loss) for the period | 9904 | €67,562 | €263,015 | +€195,453 | +289% |
| Profit (loss) for the period to be appropriated | 9905 | €67,562 | €263,015 | +€195,453 | +289% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.