EMAZE: 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.
EMAZE
Largest movements
- Receivables within one year +€316,553
up €316,553 (+52.4%), from €604,630 to €921,183
of which Trade receivables: +€315,147
- Stocks and contracts +€143,876
up €143,876 (+55.5%), from €259,032 to €402,908
- Cash +€68,758
up €68,758 (+41.1%), from €167,312 to €236,071
mainly Depreciation (+€270,426) and Net result for the year (+€264,931)
- Intangible fixed assets +€57,436
up €57,436 (+10.5%), from €545,700 to €603,136
- Tangible fixed assets -€38,061
down €38,061 (-23.2%), from €164,058 to €125,997
of which Plant, machinery and equipment: -€20,128
- Reserves +€264,098
up €264,098 (+32.5%), from €811,790 to €1.1m
- Tax, wage and social debts +€186,495
up €186,495 (+74.2%), from €251,176 to €437,671
of which Remuneration and social security: +€111,341
- Trade debts +€80,154
up €80,154 (+97.4%), from €82,312 to €162,466
- Accrued charges and deferred income -€25,115
down €25,115 (-20.9%), from €120,271 to €95,156
- Gross operating margin +€605,060
up €605,060 (+32.5%), from €1.9m to €2.5m
- Staff costs +€312,384
up €312,384 (+21.1%), from €1.5m to €1.8m
- Taxes +€80,851
up €80,851 (+869.3%), from €9,301 to €90,152
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 | €1,791,646 | €2,316,361 | +€524,715 | +29.3% |
| Fixed assets | 21/28 | €713,558 | €737,133 | +€23,575 | +3.3% |
| Intangible fixed assets | 21 | €545,700 | €603,136 | +€57,436 | +10.5% |
| Tangible fixed assets | 22/27 | €164,058 | €125,997 | -€38,061 | -23.2% |
| Land and buildings | 22 | €12,449 | €10,208 | -€2,241 | -18.0% |
| Plant, machinery and equipment | 23 | €108,193 | €88,065 | -€20,128 | -18.6% |
| Furniture and vehicles | 24 | €43,416 | €27,725 | -€15,692 | -36.1% |
| Financial fixed assets | 28 | €3,800 | €8,000 | +€4,200 | +110.5% |
| Current assets | 29/58 | €1,078,087 | €1,579,227 | +€501,140 | +46.5% |
| Stocks and contracts in progress | 3 | €259,032 | €402,908 | +€143,876 | +55.5% |
| Stocks | 30/36 | €259,032 | €402,908 | +€143,876 | +55.5% |
| Amounts receivable within one year | 40/41 | €604,630 | €921,183 | +€316,553 | +52.4% |
| Trade receivables | 40 | €604,630 | €919,777 | +€315,147 | +52.1% |
| Other amounts receivable | 41 | - | €1,406 | +€1,406 | |
| Cash at bank and in hand | 54/58 | €167,312 | €236,071 | +€68,758 | +41.1% |
| Deferred charges and accrued income | 490/1 | €47,113 | €19,066 | -€28,048 | -59.5% |
| Total equity and liabilities | 10/49 | €1,791,646 | €2,316,361 | +€524,715 | +29.3% |
| Equity | 10/15 | €825,790 | €1,089,889 | +€264,098 | +32.0% |
| Contributions | 10/11 | €14,000 | €14,000 | = | 0.0% |
| Reserves | 13 | €811,790 | €1,075,889 | +€264,098 | +32.5% |
| Distributable reserves | 133 | €811,790 | €1,075,889 | +€264,098 | +32.5% |
| Amounts payable | 17/49 | €965,855 | €1,226,472 | +€260,617 | +27.0% |
| Amounts payable within one year | 42/48 | €845,584 | €1,131,316 | +€285,732 | +33.8% |
| Trade debts | 44 | €82,312 | €162,466 | +€80,154 | +97.4% |
| Suppliers | 440/4 | €82,312 | €162,466 | +€80,154 | +97.4% |
| Taxes, remuneration and social security | 45 | €251,176 | €437,671 | +€186,495 | +74.2% |
| Taxes | 450/3 | €94,363 | €169,517 | +€75,154 | +79.6% |
| Remuneration and social security | 454/9 | €156,812 | €268,153 | +€111,341 | +71.0% |
| Other amounts payable | 47/48 | €512,097 | €531,180 | +€19,083 | +3.7% |
| Accrued charges and deferred income | 492/3 | €120,271 | €95,156 | -€25,115 | -20.9% |
| Remuneration, social security and pensions | 62 | €1,481,196 | €1,793,580 | +€312,384 | +21.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €258,282 | €270,426 | +€12,144 | +4.7% |
| Other operating charges | 640/8 | €5,201 | €4,337 | -€864 | -16.6% |
| Gross operating margin | 9900 | €1,860,820 | €2,465,880 | +€605,060 | +32.5% |
| Operating profit (loss) | 9901 | €116,141 | €397,538 | +€281,396 | +242.3% |
| Financial income | 75/76B | €902 | €1,145 | +€243 | +26.9% |
| Recurring financial income | 75 | €902 | €1,145 | +€243 | +26.9% |
| Financial charges | 65/66B | €41,855 | €43,600 | +€1,745 | +4.2% |
| Recurring financial charges | 65 | €41,855 | €43,600 | +€1,745 | +4.2% |
| Profit (loss) for the period before taxes | 9903 | €75,189 | €355,083 | +€279,895 | +372.3% |
| Income taxes | 67/77 | €9,301 | €90,152 | +€80,851 | +869.3% |
| Profit (loss) for the period | 9904 | €65,888 | €264,931 | +€199,044 | +302.1% |
| Profit (loss) for the period to be appropriated | 9905 | €65,888 | €264,931 | +€199,044 | +302.1% |
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 10 October 2026 via checked.be.