EMANENT: 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.
EMANENT
Largest movements
- Cash -€105,819
down €105,819 (-39.6%), from €267,234 to €161,415
mainly Tax, wage and social debts (-€68,385) and Net result for the year (-€56,992)
- Receivables within one year -€39,256
down €39,256 (-59.6%), from €65,919 to €26,662
of which Other amounts receivable: -€38,982
- Tax, wage and social debts -€68,385
down €68,385 (-100.0%), from €68,387 to €3
- Profit (loss) carried forward -€56,992
down €56,992 (-328.6%), from -€17,343 to -€74,335
- Debts after one year -€11,494
down €11,494 (-85.6%), from €13,421 to €1,927
- Trade debts -€7,401
down €7,401 (-87.0%), from €8,511 to €1,110
- Gross operating margin -€16,098
down €16,098 (-50.4%), from -€31,928 to -€48,026
- Financial income -€14,406
down €14,406 (-85.6%), from €16,824 to €2,417
- Taxes -€14,122
down €14,122 (-99.1%), from €14,257 to €135
- Other operating charges -€5,508
down €5,508 (-91.6%), from €6,013 to €505
- Financial charges -€4,144
down €4,144 (-68.2%), from €6,072 to €1,929
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 | €445,529 | €300,925 | -€144,604 | -32.5% |
| Fixed assets | 21/28 | €109,799 | €110,718 | +€919 | +0.8% |
| Tangible fixed assets | 22/27 | €109,799 | €110,718 | +€919 | +0.8% |
| Land and buildings | 22 | €95,240 | €95,240 | = | 0.0% |
| Plant, machinery and equipment | 23 | €406 | €1,398 | +€992 | +244.5% |
| Furniture and vehicles | 24 | €14,153 | €14,080 | -€73 | -0.5% |
| Current assets | 29/58 | €335,730 | €190,207 | -€145,523 | -43.3% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €65,919 | €26,662 | -€39,256 | -59.6% |
| Trade receivables | 40 | €274 | €0 | -€274 | -100.0% |
| Other amounts receivable | 41 | €65,645 | €26,662 | -€38,982 | -59.4% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €267,234 | €161,415 | -€105,819 | -39.6% |
| Deferred charges and accrued income | 490/1 | €2,577 | €2,129 | -€448 | -17.4% |
| Total equity and liabilities | 10/49 | €445,529 | €300,925 | -€144,604 | -32.5% |
| Equity | 10/15 | €342,983 | €285,991 | -€56,992 | -16.6% |
| Reserves | 13 | €360,326 | €360,326 | = | 0.0% |
| Distributable reserves | 133 | €360,326 | €360,326 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€17,343 | -€74,335 | -€56,992 | -328.6% |
| Amounts payable | 17/49 | €102,546 | €14,934 | -€87,612 | -85.4% |
| Amounts payable after more than one year | 17 | €13,421 | €1,927 | -€11,494 | -85.6% |
| Financial debts | 170/4 | €13,421 | €1,927 | -€11,494 | -85.6% |
| Amounts payable within one year | 42/48 | €88,521 | €12,607 | -€75,914 | -85.8% |
| Current portion of amounts payable after more than one year | 42 | €11,622 | €11,494 | -€128 | -1.1% |
| Trade debts | 44 | €8,511 | €1,110 | -€7,401 | -87.0% |
| Suppliers | 440/4 | €8,511 | €1,110 | -€7,401 | -87.0% |
| Taxes, remuneration and social security | 45 | €68,387 | €3 | -€68,385 | -100.0% |
| Taxes | 450/3 | €68,387 | €3 | -€68,385 | -100.0% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €604 | €400 | -€204 | -33.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,473 | €8,815 | +€342 | +4.0% |
| Other operating charges | 640/8 | €6,013 | €505 | -€5,508 | -91.6% |
| Gross operating margin | 9900 | -€31,928 | -€48,026 | -€16,098 | -50.4% |
| Operating profit (loss) | 9901 | -€46,414 | -€57,346 | -€10,932 | -23.6% |
| Financial income | 75/76B | €16,824 | €2,417 | -€14,406 | -85.6% |
| Recurring financial income | 75 | €16,824 | €2,417 | -€14,406 | -85.6% |
| Financial charges | 65/66B | €6,072 | €1,929 | -€4,144 | -68.2% |
| Recurring financial charges | 65 | €6,072 | €1,929 | -€4,144 | -68.2% |
| Profit (loss) for the period before taxes | 9903 | -€35,662 | -€56,857 | -€21,195 | -59.4% |
| Income taxes | 67/77 | €14,257 | €135 | -€14,122 | -99.1% |
| Profit (loss) for the period | 9904 | -€49,919 | -€56,992 | -€7,073 | -14.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€49,919 | -€56,992 | -€7,073 | -14.2% |
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 30 September 2026 via checked.be.