EMARTE: 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.
EMARTE
Largest movements
- Cash +€172,192
up €172,192 (+204.3%), from €84,298 to €256,490
mainly Net result for the year (+€159,299) and Debts after one year (+€31,143)
- Tangible fixed assets +€39,115
up €39,115 (+1994.9%), from €1,961 to €41,075
of which Leasing and similar rights: +€39,781
- Current investments +€11,746
up €11,746 (+400.0%), from €2,936 to €14,682
- Receivables within one year -€3,412
down €3,412 (-100.0%), from €3,412 to €0
- Reserves +€159,299
up €159,299 (+185.9%), from €85,693 to €244,992
- Debts after one year +€31,143
new in 2025: €31,143
- Tax, wage and social debts +€18,483
up €18,483 (+800.1%), from €2,310 to €20,793
- Current portion of long-term debt +€8,977
new in 2025: €8,977
- Other debts +€3,774
new in 2025: €3,774
- Gross operating margin +€104,977
up €104,977 (+91.8%), from €114,336 to €219,313
- Taxes +€24,931
up €24,931 (+114.1%), from €21,844 to €46,776
- Depreciation +€8,991
up €8,991 (+23517.0%), from €38 to €9,029
- Staff costs -€2,852
down €2,852 (-47.3%), from €6,027 to €3,175
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 | €96,231 | €316,702 | +€220,471 | +229.1% |
| Fixed assets | 21/28 | €1,961 | €41,075 | +€39,115 | +1994.9% |
| Tangible fixed assets | 22/27 | €1,961 | €41,075 | +€39,115 | +1994.9% |
| Furniture and vehicles | 24 | €1,961 | €1,294 | -€666 | -34.0% |
| Leasing and similar rights | 25 | - | €39,781 | +€39,781 | |
| Current assets | 29/58 | €94,270 | €275,627 | +€181,357 | +192.4% |
| Amounts receivable within one year | 40/41 | €3,412 | €0 | -€3,412 | -100.0% |
| Other amounts receivable | 41 | €3,412 | €0 | -€3,412 | -100.0% |
| Current investments | 50/53 | €2,936 | €14,682 | +€11,746 | +400.0% |
| Cash at bank and in hand | 54/58 | €84,298 | €256,490 | +€172,192 | +204.3% |
| Deferred charges and accrued income | 490/1 | €3,623 | €4,455 | +€832 | +23.0% |
| Total equity and liabilities | 10/49 | €96,231 | €316,702 | +€220,471 | +229.1% |
| Equity | 10/15 | €88,193 | €247,492 | +€159,299 | +180.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €85,693 | €244,992 | +€159,299 | +185.9% |
| Distributable reserves | 133 | €85,693 | €244,992 | +€159,299 | +185.9% |
| Amounts payable | 17/49 | €8,038 | €69,211 | +€61,172 | +761.0% |
| Amounts payable after more than one year | 17 | - | €31,143 | +€31,143 | |
| Financial debts | 170/4 | - | €31,143 | +€31,143 | |
| Amounts payable within one year | 42/48 | €8,038 | €38,068 | +€30,030 | +373.6% |
| Current portion of amounts payable after more than one year | 42 | - | €8,977 | +€8,977 | |
| Trade debts | 44 | €5,728 | €4,524 | -€1,204 | -21.0% |
| Suppliers | 440/4 | €5,728 | €4,524 | -€1,204 | -21.0% |
| Taxes, remuneration and social security | 45 | €2,310 | €20,793 | +€18,483 | +800.1% |
| Taxes | 450/3 | €2,310 | €20,793 | +€18,483 | +800.1% |
| Other amounts payable | 47/48 | - | €3,774 | +€3,774 | |
| Remuneration, social security and pensions | 62 | €6,027 | €3,175 | -€2,852 | -47.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38 | €9,029 | +€8,991 | +23517.0% |
| Other operating charges | 640/8 | €672 | €505 | -€167 | -24.9% |
| Gross operating margin | 9900 | €114,336 | €219,313 | +€104,977 | +91.8% |
| Operating profit (loss) | 9901 | €107,599 | €206,605 | +€99,006 | +92.0% |
| Financial income | 75/76B | €59 | €826 | +€768 | +1312.0% |
| Recurring financial income | 75 | €59 | €826 | +€768 | +1312.0% |
| Financial charges | 65/66B | €120 | €1,356 | +€1,236 | +1029.5% |
| Recurring financial charges | 65 | €120 | €1,356 | +€1,236 | +1029.5% |
| Profit (loss) for the period before taxes | 9903 | €107,537 | €206,074 | +€98,537 | +91.6% |
| Income taxes | 67/77 | €21,844 | €46,776 | +€24,931 | +114.1% |
| Profit (loss) for the period | 9904 | €85,693 | €159,299 | +€73,606 | +85.9% |
| Profit (loss) for the period to be appropriated | 9905 | €85,693 | €159,299 | +€73,606 | +85.9% |
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 8 October 2026 via checked.be.