eMajor: 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.
eMajor
Largest movements
- Receivables within one year +€45,474
up €45,474 (+118.4%), from €38,423 to €83,897
- Cash +€31,087
up €31,087 (+54.4%), from €57,154 to €88,242
mainly Net result for the year (+€61,949) and Other debts (+€10,816)
- Reserves +€58,960
up €58,960 (+172.0%), from €34,287 to €93,248
- Other debts +€10,816
up €10,816 (+69.9%), from €15,475 to €26,291
- Tax, wage and social debts +€8,334
up €8,334 (+61.3%), from €13,601 to €21,935
of which Taxes: +€7,603
- Gross operating margin +€64,799
up €64,799 (+265.0%), from €24,453 to €89,251
- Taxes +€19,103
up €19,103 (+313.6%), from €6,092 to €25,195
- Depreciation -€5,703
down €5,703 (-80.4%), from €7,090 to €1,386
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.
Cash bridge derived
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 | €100,697 | €177,258 | +€76,561 | +76.0% |
| Fixed assets | 21/28 | €5,120 | €5,120 | -€0 | 0.0% |
| Tangible fixed assets | 22/27 | €5,120 | €5,120 | -€0 | 0.0% |
| Plant, machinery and equipment | 23 | €1,370 | €2,043 | +€673 | +49.1% |
| Furniture and vehicles | 24 | €2,969 | €2,496 | -€473 | -15.9% |
| Other tangible fixed assets | 26 | €781 | €581 | -€200 | -25.6% |
| Current assets | 29/58 | €95,577 | €172,138 | +€76,561 | +80.1% |
| Amounts receivable within one year | 40/41 | €38,423 | €83,897 | +€45,474 | +118.4% |
| Trade receivables | 40 | €38,423 | €83,897 | +€45,474 | +118.4% |
| Cash at bank and in hand | 54/58 | €57,154 | €88,242 | +€31,087 | +54.4% |
| Total equity and liabilities | 10/49 | €100,697 | €177,258 | +€76,561 | +76.0% |
| Equity | 10/15 | €46,687 | €105,648 | +€58,960 | +126.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €34,287 | €93,248 | +€58,960 | +172.0% |
| Distributable reserves | 133 | €34,287 | €93,248 | +€58,960 | +172.0% |
| Amounts payable | 17/49 | €54,010 | €71,610 | +€17,600 | +32.6% |
| Amounts payable within one year | 42/48 | €54,010 | €71,610 | +€17,600 | +32.6% |
| Trade debts | 44 | €24,934 | €23,383 | -€1,550 | -6.2% |
| Suppliers | 440/4 | €24,934 | €23,383 | -€1,550 | -6.2% |
| Taxes, remuneration and social security | 45 | €13,601 | €21,935 | +€8,334 | +61.3% |
| Taxes | 450/3 | €13,601 | €21,204 | +€7,603 | +55.9% |
| Remuneration and social security | 454/9 | - | €731 | +€731 | |
| Other amounts payable | 47/48 | €15,475 | €26,291 | +€10,816 | +69.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,090 | €1,386 | -€5,703 | -80.4% |
| Other operating charges | 640/8 | €245 | €472 | +€227 | +92.5% |
| Non-recurring operating charges | 66A | €3,668 | - | -€3,668 | |
| Gross operating margin | 9900 | €24,453 | €89,251 | +€64,799 | +265.0% |
| Operating profit (loss) | 9901 | €13,449 | €87,393 | +€73,943 | +549.8% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €168 | €248 | +€80 | +47.6% |
| Recurring financial charges | 65 | €168 | €248 | +€80 | +47.6% |
| Profit (loss) for the period before taxes | 9903 | €13,281 | €87,144 | +€73,863 | +556.2% |
| Income taxes | 67/77 | €6,092 | €25,195 | +€19,103 | +313.6% |
| Profit (loss) for the period | 9904 | €7,189 | €61,949 | +€54,760 | +761.8% |
| Profit (loss) for the period to be appropriated | 9905 | €7,189 | €61,949 | +€54,760 | +761.8% |
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 11 October 2026 via checked.be.