EMAFLO: 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.
EMAFLO
Largest movements
- Cash +€378,719
up €378,719 (+781%), from €48,495 to €427,215
mainly Net result for the year (+€263,758) and Provisions (+€84,576)
- Tangible fixed assets -€100,696
down €100,696 (-14.7%), from €686,365 to €585,669
of which Land and buildings: -€99,722
- Reserves +€263,729
up €263,729 (+244%), from €108,200 to €371,929
of which Tax-exempt reserves: +€253,729
- Provisions +€84,576
new in 2025: €84,576
- Other debts -€44,000
down €44,000 (-20.7%), from €212,360 to €168,360
- Debts after one year -€23,533
down €23,533 (-36.0%), from €65,293 to €41,760
- Gross operating margin +€333,624
up €333,624 (+478%), from €69,812 to €403,436
- Taxes -€7,039
down €7,039 (-87.6%), from €8,039 to €1,000
- Depreciation -€4,712
down €4,712 (-10.8%), from €43,713 to €39,001
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 | €738,710 | €1,013,627 | +€274,917 | +37.2% |
| Fixed assets | 21/28 | €686,365 | €585,669 | -€100,696 | -14.7% |
| Tangible fixed assets | 22/27 | €686,365 | €585,669 | -€100,696 | -14.7% |
| Land and buildings | 22 | €684,238 | €584,517 | -€99,722 | -14.6% |
| Plant, machinery and equipment | 23 | €2,127 | €1,153 | -€974 | -45.8% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €52,345 | €427,958 | +€375,613 | +718% |
| Amounts receivable within one year | 40/41 | €1,500 | - | -€1,500 | |
| Other amounts receivable | 41 | €1,500 | - | -€1,500 | |
| Cash at bank and in hand | 54/58 | €48,495 | €427,215 | +€378,719 | +781% |
| Deferred charges and accrued income | 490/1 | €2,349 | €743 | -€1,606 | -68.4% |
| Total equity and liabilities | 10/49 | €738,710 | €1,013,627 | +€274,917 | +37.2% |
| Equity | 10/15 | €417,077 | €680,835 | +€263,758 | +63.2% |
| Contributions | 10/11 | €258,000 | €258,000 | = | 0.0% |
| Reserves | 13 | €108,200 | €371,929 | +€263,729 | +244% |
| Non-distributable reserves | 130/1 | €7,700 | €7,700 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,700 | €7,700 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €253,729 | +€253,729 | |
| Distributable reserves | 133 | €100,500 | €110,500 | +€10,000 | +10.0% |
| Profit (loss) carried forward | 14 | €50,877 | €50,906 | +€30 | +0.1% |
| Provisions and deferred taxes | 16 | - | €84,576 | +€84,576 | |
| Deferred taxes | 168 | - | €84,576 | +€84,576 | |
| Amounts payable | 17/49 | €321,633 | €248,216 | -€73,417 | -22.8% |
| Amounts payable after more than one year | 17 | €65,293 | €41,760 | -€23,533 | -36.0% |
| Financial debts | 170/4 | €65,293 | €41,760 | -€23,533 | -36.0% |
| Amounts payable within one year | 42/48 | €239,305 | €192,893 | -€46,413 | -19.4% |
| Current portion of amounts payable after more than one year | 42 | €23,295 | €23,533 | +€237 | +1.0% |
| Taxes, remuneration and social security | 45 | €3,650 | €1,000 | -€2,650 | -72.6% |
| Taxes | 450/3 | €3,650 | €1,000 | -€2,650 | -72.6% |
| Other amounts payable | 47/48 | €212,360 | €168,360 | -€44,000 | -20.7% |
| Accrued charges and deferred income | 492/3 | €17,035 | €13,563 | -€3,472 | -20.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,713 | €39,001 | -€4,712 | -10.8% |
| Other operating charges | 640/8 | €567 | €400 | -€168 | -29.5% |
| Gross operating margin | 9900 | €69,812 | €403,436 | +€333,624 | +478% |
| Operating profit (loss) | 9901 | €25,532 | €364,035 | +€338,504 | +1,326% |
| Financial charges | 65/66B | €18,396 | €14,701 | -€3,695 | -20.1% |
| Recurring financial charges | 65 | €18,396 | €14,701 | -€3,695 | -20.1% |
| Profit (loss) for the period before taxes | 9903 | €7,136 | €349,335 | +€342,199 | +4,796% |
| Transfer to deferred taxes | 680 | - | €84,576 | +€84,576 | |
| Income taxes | 67/77 | €8,039 | €1,000 | -€7,039 | -87.6% |
| Profit (loss) for the period | 9904 | -€904 | €263,758 | +€264,662 | |
| Transfer to tax-exempt reserves | 689 | - | €253,729 | +€253,729 | |
| Profit (loss) for the period to be appropriated | 9905 | -€904 | €10,030 | +€10,933 |
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 18 October 2026 via checked.be.