EMANA: 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.
EMANA
Largest movements
- Receivables within one year +€58,671
up €58,671 (+2,042%), from €2,873 to €61,544
of which Trade receivables: +€57,539
- Tangible fixed assets -€30,491
down €30,491 (-5.5%), from €557,002 to €526,511
of which Land and buildings: -€31,191
- Cash -€29,178
down €29,178 (-60.2%), from €48,456 to €19,278
mainly Receivables within one year (-€58,671) and Debts after one year (-€49,892)
- Current investments +€16,192
new in 2025: €16,192
- Debts after one year -€49,892
down €49,892 (-11.9%), from €418,671 to €368,779
- Reserves +€34,271
up €34,271 (+31.3%), from €109,515 to €143,786
- Other debts +€20,844
up €20,844 (+979%), from €2,129 to €22,972
- Tax, wage and social debts +€8,477
up €8,477 (+157%), from €5,384 to €13,861
of which Taxes: +€8,477
- Gross operating margin +€34,792
up €34,792 (+36.7%), from €94,866 to €129,658
- Taxes +€9,975
up €9,975 (+74.5%), from €13,395 to €23,370
- Financial charges -€3,542
down €3,542 (-31.3%), from €11,322 to €7,781
- Other operating charges +€1,692
up €1,692 (+31.9%), from €5,304 to €6,996
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 | €610,087 | €625,439 | +€15,352 | +2.5% |
| Fixed assets | 21/28 | €557,002 | €526,511 | -€30,491 | -5.5% |
| Tangible fixed assets | 22/27 | €557,002 | €526,511 | -€30,491 | -5.5% |
| Land and buildings | 22 | €555,529 | €524,338 | -€31,191 | -5.6% |
| Plant, machinery and equipment | 23 | €1,473 | €227 | -€1,246 | -84.6% |
| Furniture and vehicles | 24 | - | €1,947 | +€1,947 | |
| Current assets | 29/58 | €53,085 | €98,928 | +€45,843 | +86.4% |
| Amounts receivable within one year | 40/41 | €2,873 | €61,544 | +€58,671 | +2,042% |
| Trade receivables | 40 | €2,491 | €60,030 | +€57,539 | +2,310% |
| Other amounts receivable | 41 | €382 | €1,514 | +€1,133 | +297% |
| Current investments | 50/53 | - | €16,192 | +€16,192 | |
| Cash at bank and in hand | 54/58 | €48,456 | €19,278 | -€29,178 | -60.2% |
| Deferred charges and accrued income | 490/1 | €1,756 | €1,914 | +€158 | +9.0% |
| Total equity and liabilities | 10/49 | €610,087 | €625,439 | +€15,352 | +2.5% |
| Equity | 10/15 | €128,115 | €162,386 | +€34,271 | +26.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €109,515 | €143,786 | +€34,271 | +31.3% |
| Distributable reserves | 133 | €109,515 | €143,786 | +€34,271 | +31.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €481,972 | €463,053 | -€18,919 | -3.9% |
| Amounts payable after more than one year | 17 | €418,671 | €368,779 | -€49,892 | -11.9% |
| Financial debts | 170/4 | €418,671 | €368,779 | -€49,892 | -11.9% |
| Amounts payable within one year | 42/48 | €62,516 | €93,459 | +€30,943 | +49.5% |
| Current portion of amounts payable after more than one year | 42 | €49,271 | €49,892 | +€622 | +1.3% |
| Trade debts | 44 | €3,571 | €6,733 | +€3,162 | +88.5% |
| Suppliers | 440/4 | €3,571 | €6,733 | +€3,162 | +88.5% |
| Advances received on contracts in progress | 46 | €2,161 | €0 | -€2,161 | -100% |
| Taxes, remuneration and social security | 45 | €5,384 | €13,861 | +€8,477 | +157% |
| Taxes | 450/3 | €5,384 | €13,861 | +€8,477 | +157% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €2,129 | €22,972 | +€20,844 | +979% |
| Accrued charges and deferred income | 492/3 | €785 | €815 | +€30 | +3.8% |
| Non-recurring operating income | 76A | €47,980 | €0 | -€47,980 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,437 | €32,654 | +€216 | +0.7% |
| Other operating charges | 640/8 | €5,304 | €6,996 | +€1,692 | +31.9% |
| Gross operating margin | 9900 | €94,866 | €129,658 | +€34,792 | +36.7% |
| Operating profit (loss) | 9901 | €57,124 | €90,007 | +€32,883 | +57.6% |
| Financial income | 75/76B | €16 | €623 | +€607 | +3,790% |
| Recurring financial income | 75 | €16 | €623 | +€607 | +3,790% |
| Financial charges | 65/66B | €11,322 | €7,781 | -€3,542 | -31.3% |
| Recurring financial charges | 65 | €11,322 | €7,781 | -€3,542 | -31.3% |
| Profit (loss) for the period before taxes | 9903 | €45,818 | €82,849 | +€37,031 | +80.8% |
| Income taxes | 67/77 | €13,395 | €23,370 | +€9,975 | +74.5% |
| Profit (loss) for the period | 9904 | €32,423 | €59,479 | +€27,056 | +83.4% |
| Profit (loss) for the period to be appropriated | 9905 | €32,423 | €59,479 | +€27,056 | +83.4% |
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 29 October 2026 via checked.be.