EMANATOU: what changed
Two fiscal 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.
EMANATOU
Largest movements
- Cash +€54,727
up €54,727 (+48.8%), from €112,057 to €166,784
mainly Net result for the year (+€44,318) and Receivables within one year (+€33,889)
- Receivables within one year -€33,889
down €33,889 (-88.8%), from €38,184 to €4,294
of which Trade receivables: -€37,752
- Intangible fixed assets -€2,564
down €2,564 (-31.8%), from €8,052 to €5,487
- Reserves +€44,318
up €44,318 (+35.7%), from €124,285 to €168,603
- Tax, wage and social debts -€25,147
down €25,147 (-81.6%), from €30,802 to €5,655
- Gross operating margin -€40,616
down €40,616 (-40.1%), from €101,395 to €60,779
- Taxes -€7,926
down €7,926 (-39.8%), from €19,890 to €11,964
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 | €160,946 | €179,373 | +€18,427 | +11.4% |
| Fixed assets | 21/28 | €9,703 | €6,255 | -€3,448 | -35.5% |
| Intangible fixed assets | 21 | €8,052 | €5,487 | -€2,564 | -31.8% |
| Tangible fixed assets | 22/27 | €1,652 | €768 | -€884 | -53.5% |
| Plant, machinery and equipment | 23 | €1,652 | €768 | -€884 | -53.5% |
| Current assets | 29/58 | €151,243 | €173,118 | +€21,876 | +14.5% |
| Amounts receivable within one year | 40/41 | €38,184 | €4,294 | -€33,889 | -88.8% |
| Trade receivables | 40 | €37,752 | - | -€37,752 | |
| Other amounts receivable | 41 | €432 | €4,294 | +€3,863 | +894.8% |
| Cash at bank and in hand | 54/58 | €112,057 | €166,784 | +€54,727 | +48.8% |
| Deferred charges and accrued income | 490/1 | €1,001 | €2,040 | +€1,038 | +103.7% |
| Total equity and liabilities | 10/49 | €160,946 | €179,373 | +€18,427 | +11.4% |
| Equity | 10/15 | €129,285 | €173,603 | +€44,318 | +34.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €124,285 | €168,603 | +€44,318 | +35.7% |
| Distributable reserves | 133 | €124,285 | €168,603 | +€44,318 | +35.7% |
| Amounts payable | 17/49 | €31,661 | €5,770 | -€25,891 | -81.8% |
| Amounts payable within one year | 42/48 | €31,661 | €5,770 | -€25,891 | -81.8% |
| Trade debts | 44 | - | €115 | +€115 | |
| Suppliers | 440/4 | - | €115 | +€115 | |
| Taxes, remuneration and social security | 45 | €30,802 | €5,655 | -€25,147 | -81.6% |
| Taxes | 450/3 | €30,802 | €5,655 | -€25,147 | -81.6% |
| Other amounts payable | 47/48 | €859 | - | -€859 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,448 | €3,448 | = | 0.0% |
| Other operating charges | 640/8 | - | €400 | +€400 | |
| Gross operating margin | 9900 | €101,395 | €60,779 | -€40,616 | -40.1% |
| Operating profit (loss) | 9901 | €97,947 | €56,931 | -€41,016 | -41.9% |
| Financial income | 75/76B | €13 | €19 | +€6 | +48.0% |
| Recurring financial income | 75 | €13 | €19 | +€6 | +48.0% |
| Financial charges | 65/66B | €727 | €668 | -€60 | -8.2% |
| Recurring financial charges | 65 | €727 | €668 | -€60 | -8.2% |
| Profit (loss) for the period before taxes | 9903 | €97,232 | €56,283 | -€40,950 | -42.1% |
| Income taxes | 67/77 | €19,890 | €11,964 | -€7,926 | -39.8% |
| Profit (loss) for the period | 9904 | €77,342 | €44,318 | -€33,024 | -42.7% |
| Profit (loss) for the period to be appropriated | 9905 | €77,342 | €44,318 | -€33,024 | -42.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.