EMAXIS: 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.
EMAXIS
Largest movements
- Receivables within one year +€61,533
up €61,533 (+7,692%), from €800 to €62,333
of which Trade receivables: +€40,333
- Tangible fixed assets +€37,034
up €37,034 (+326%), from €11,365 to €48,399
of which Other tangible fixed assets: +€37,043
- Cash -€17,944
down €17,944 (-16.7%), from €107,589 to €89,644
mainly Contributions, distributions and other (-€142,000) and Receivables within one year (-€61,533)
- Deferred charges and accrued income -€2,901
down €2,901 (-62.9%), from €4,609 to €1,708
- Other debts +€54,060
up €54,060 (+69.7%), from €77,520 to €131,580
- Tax, wage and social debts +€21,229
up €21,229 (+99.8%), from €21,269 to €42,497
- Gross operating margin +€78,173
up €78,173 (+67.6%), from €115,718 to €193,891
- Taxes +€18,884
up €18,884 (+78.6%), from €24,029 to €42,913
- Depreciation +€3,132
up €3,132 (+83.3%), from €3,760 to €6,892
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 | €124,413 | €202,084 | +€77,671 | +62.4% |
| Fixed assets | 21/28 | €11,415 | €48,399 | +€36,984 | +324% |
| Tangible fixed assets | 22/27 | €11,365 | €48,399 | +€37,034 | +326% |
| Plant, machinery and equipment | 23 | €2,230 | €3,187 | +€957 | +42.9% |
| Furniture and vehicles | 24 | €1,170 | €204 | -€966 | -82.6% |
| Other tangible fixed assets | 26 | €7,965 | €45,008 | +€37,043 | +465% |
| Financial fixed assets | 28 | €50 | - | -€50 | |
| Current assets | 29/58 | €112,998 | €153,685 | +€40,687 | +36.0% |
| Amounts receivable within one year | 40/41 | €800 | €62,333 | +€61,533 | +7,692% |
| Trade receivables | 40 | - | €40,333 | +€40,333 | |
| Other amounts receivable | 41 | €800 | €22,000 | +€21,200 | +2,650% |
| Cash at bank and in hand | 54/58 | €107,589 | €89,644 | -€17,944 | -16.7% |
| Deferred charges and accrued income | 490/1 | €4,609 | €1,708 | -€2,901 | -62.9% |
| Total equity and liabilities | 10/49 | €124,413 | €202,084 | +€77,671 | +62.4% |
| Equity | 10/15 | €24,525 | €25,777 | +€1,252 | +5.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,065 | €5,317 | +€1,252 | +30.8% |
| Amounts payable | 17/49 | €99,888 | €176,307 | +€76,419 | +76.5% |
| Amounts payable within one year | 42/48 | €99,888 | €176,307 | +€76,419 | +76.5% |
| Trade debts | 44 | €1,099 | €2,229 | +€1,130 | +103% |
| Suppliers | 440/4 | €1,099 | €2,229 | +€1,130 | +103% |
| Taxes, remuneration and social security | 45 | €21,269 | €42,497 | +€21,229 | +99.8% |
| Taxes | 450/3 | €21,269 | €42,497 | +€21,229 | +99.8% |
| Other amounts payable | 47/48 | €77,520 | €131,580 | +€54,060 | +69.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,760 | €6,892 | +€3,132 | +83.3% |
| Other operating charges | 640/8 | €654 | €769 | +€116 | +17.7% |
| Gross operating margin | 9900 | €115,718 | €193,891 | +€78,173 | +67.6% |
| Operating profit (loss) | 9901 | €111,305 | €186,230 | +€74,925 | +67.3% |
| Financial income | 75/76B | €0 | €1 | +€1 | +9,900% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +9,900% |
| Financial charges | 65/66B | €52 | €66 | +€13 | +24.9% |
| Recurring financial charges | 65 | €52 | €66 | +€13 | +24.9% |
| Profit (loss) for the period before taxes | 9903 | €111,252 | €186,165 | +€74,913 | +67.3% |
| Income taxes | 67/77 | €24,029 | €42,913 | +€18,884 | +78.6% |
| Profit (loss) for the period | 9904 | €87,224 | €143,252 | +€56,028 | +64.2% |
| Profit (loss) for the period to be appropriated | 9905 | €87,224 | €143,252 | +€56,028 | +64.2% |
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 15 October 2026 via checked.be.