EMAX: 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.
EMAX
Largest movements
- Cash -€36,381
down €36,381 (-48.1%), from €75,622 to €39,241
mainly Other debts (-€49,050) and Receivables within one year (-€35,109)
- Receivables within one year +€35,109
up €35,109 (+62.7%), from €55,983 to €91,092
of which Trade receivables: +€51,488
- Tangible fixed assets +€24,831
up €24,831 (+196.4%), from €12,644 to €37,476
of which Furniture and vehicles: +€27,098
- Other debts -€49,050
no longer reported in 2024 (was €49,050)
- Reserves +€25,518
up €25,518 (+46.0%), from €55,498 to €81,016
of which Distributable reserves: +€25,518
- Current portion of long-term debt +€24,000
new in 2024: €24,000
- Trade debts +€14,455
up €14,455 (+304.5%), from €4,747 to €19,202
- Tax, wage and social debts +€8,427
up €8,427 (+44.5%), from €18,922 to €27,349
- Gross operating margin -€44,490
down €44,490 (-51.6%), from €86,204 to €41,715
- Taxes -€14,408
down €14,408 (-57.8%), from €24,923 to €10,515
- Financial income -€1,047
no longer reported in 2024 (was €1,047)
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €146,817 | €170,167 | +€23,350 | +15.9% |
| Fixed assets | 21/28 | €12,644 | €37,476 | +€24,831 | +196.4% |
| Tangible fixed assets | 22/27 | €12,644 | €37,476 | +€24,831 | +196.4% |
| Plant, machinery and equipment | 23 | - | €568 | +€568 | |
| Furniture and vehicles | 24 | - | €27,098 | +€27,098 | |
| Other tangible fixed assets | 26 | €12,644 | €9,810 | -€2,834 | -22.4% |
| Current assets | 29/58 | €134,172 | €132,691 | -€1,481 | -1.1% |
| Amounts receivable within one year | 40/41 | €55,983 | €91,092 | +€35,109 | +62.7% |
| Trade receivables | 40 | €13,310 | €64,798 | +€51,488 | +386.8% |
| Other amounts receivable | 41 | €42,673 | €26,294 | -€16,379 | -38.4% |
| Cash at bank and in hand | 54/58 | €75,622 | €39,241 | -€36,381 | -48.1% |
| Deferred charges and accrued income | 490/1 | €2,567 | €2,358 | -€209 | -8.1% |
| Total equity and liabilities | 10/49 | €146,817 | €170,167 | +€23,350 | +15.9% |
| Equity | 10/15 | €74,098 | €99,616 | +€25,518 | +34.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €55,498 | €81,016 | +€25,518 | +46.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €55,498 | €81,016 | +€25,518 | +46.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €72,719 | €70,551 | -€2,168 | -3.0% |
| Amounts payable within one year | 42/48 | €72,719 | €70,551 | -€2,168 | -3.0% |
| Current portion of amounts payable after more than one year | 42 | - | €24,000 | +€24,000 | |
| Trade debts | 44 | €4,747 | €19,202 | +€14,455 | +304.5% |
| Suppliers | 440/4 | €4,747 | €19,202 | +€14,455 | +304.5% |
| Taxes, remuneration and social security | 45 | €18,922 | €27,349 | +€8,427 | +44.5% |
| Taxes | 450/3 | €18,922 | €27,349 | +€8,427 | +44.5% |
| Other amounts payable | 47/48 | €49,050 | - | -€49,050 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,035 | €3,418 | +€384 | +12.6% |
| Other operating charges | 640/8 | €1,282 | €630 | -€652 | -50.9% |
| Gross operating margin | 9900 | €86,204 | €41,715 | -€44,490 | -51.6% |
| Operating profit (loss) | 9901 | €81,887 | €37,667 | -€44,221 | -54.0% |
| Financial income | 75/76B | €1,047 | - | -€1,047 | |
| Recurring financial income | 75 | €1,047 | - | -€1,047 | |
| Financial charges | 65/66B | €2,244 | €1,633 | -€611 | -27.2% |
| Recurring financial charges | 65 | €2,244 | €1,633 | -€611 | -27.2% |
| Profit (loss) for the period before taxes | 9903 | €80,691 | €36,034 | -€44,657 | -55.3% |
| Income taxes | 67/77 | €24,923 | €10,515 | -€14,408 | -57.8% |
| Profit (loss) for the period | 9904 | €55,767 | €25,518 | -€30,249 | -54.2% |
| Profit (loss) for the period to be appropriated | 9905 | €55,767 | €25,518 | -€30,249 | -54.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.