EMALGI: 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.
EMALGI
Largest movements
- Cash -€138,090
down €138,090 (-62.1%), from €222,463 to €84,373
mainly Contributions, distributions and other (-€149,696) and Tax, wage and social debts (-€13,258)
- Receivables within one year +€9,710
up €9,710 (+70.1%), from €13,855 to €23,565
of which Other amounts receivable: +€8,500
- Reserves -€148,119
down €148,119 (-98.9%), from €149,696 to €1,577
- Other debts +€29,697
up €29,697 (+62.9%), from €47,190 to €76,887
- Tax, wage and social debts -€13,258
down €13,258 (-40.4%), from €32,827 to €19,569
- Trade debts +€2,701
up €2,701 (+220%), from €1,225 to €3,927
- Gross operating margin -€45,743
down €45,743 (-82.0%), from €55,800 to €10,058
- Taxes -€9,729
down €9,729 (-85.3%), from €11,401 to €1,672
- Financial income -€1,565
down €1,565 (-99.5%), from €1,573 to €8
- Financial charges +€953
up €953 (+31.2%), from €3,055 to €4,008
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 | €240,400 | €110,367 | -€130,033 | -54.1% |
| Fixed assets | 21/28 | €3,891 | €1,881 | -€2,009 | -51.6% |
| Tangible fixed assets | 22/27 | €3,891 | €1,881 | -€2,009 | -51.6% |
| Plant, machinery and equipment | 23 | €2,368 | €1,539 | -€828 | -35.0% |
| Furniture and vehicles | 24 | €1,523 | €342 | -€1,181 | -77.5% |
| Current assets | 29/58 | €236,509 | €108,485 | -€128,024 | -54.1% |
| Amounts receivable within one year | 40/41 | €13,855 | €23,565 | +€9,710 | +70.1% |
| Trade receivables | 40 | €13,855 | €15,065 | +€1,210 | +8.7% |
| Other amounts receivable | 41 | €0 | €8,500 | +€8,500 | |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €222,463 | €84,373 | -€138,090 | -62.1% |
| Deferred charges and accrued income | 490/1 | €192 | €548 | +€356 | +186% |
| Total equity and liabilities | 10/49 | €240,400 | €110,367 | -€130,033 | -54.1% |
| Equity | 10/15 | €154,696 | €6,577 | -€148,119 | -95.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €149,696 | €1,577 | -€148,119 | -98.9% |
| Distributable reserves | 133 | €149,696 | €1,577 | -€148,119 | -98.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €85,704 | €103,790 | +€18,086 | +21.1% |
| Amounts payable within one year | 42/48 | €81,241 | €100,382 | +€19,141 | +23.6% |
| Trade debts | 44 | €1,225 | €3,927 | +€2,701 | +220% |
| Suppliers | 440/4 | €1,225 | €3,927 | +€2,701 | +220% |
| Taxes, remuneration and social security | 45 | €32,827 | €19,569 | -€13,258 | -40.4% |
| Taxes | 450/3 | €32,827 | €19,569 | -€13,258 | -40.4% |
| Other amounts payable | 47/48 | €47,190 | €76,887 | +€29,697 | +62.9% |
| Accrued charges and deferred income | 492/3 | €4,463 | €3,408 | -€1,055 | -23.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,009 | €2,009 | = | 0.0% |
| Other operating charges | 640/8 | €715 | €801 | +€85 | +12.0% |
| Gross operating margin | 9900 | €55,800 | €10,058 | -€45,743 | -82.0% |
| Operating profit (loss) | 9901 | €53,076 | €7,248 | -€45,828 | -86.3% |
| Financial income | 75/76B | €1,573 | €8 | -€1,565 | -99.5% |
| Recurring financial income | 75 | €1,573 | €8 | -€1,565 | -99.5% |
| Financial charges | 65/66B | €3,055 | €4,008 | +€953 | +31.2% |
| Recurring financial charges | 65 | €3,055 | €4,008 | +€953 | +31.2% |
| Profit (loss) for the period before taxes | 9903 | €51,595 | €3,249 | -€48,346 | -93.7% |
| Income taxes | 67/77 | €11,401 | €1,672 | -€9,729 | -85.3% |
| Profit (loss) for the period | 9904 | €40,193 | €1,577 | -€38,616 | -96.1% |
| Profit (loss) for the period to be appropriated | 9905 | €40,193 | €1,577 | -€38,616 | -96.1% |
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 15 October 2026 via checked.be.