Embax: 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.
Embax
Largest movements
- Cash +€19,626
up €19,626 (+165.1%), from €11,890 to €31,515
mainly Net result for the year (+€23,227) and Depreciation (+€11,312)
- Receivables within one year +€11,578
up €11,578 (+2215.9%), from €522 to €12,100
of which Trade receivables: +€12,100
- Tangible fixed assets -€11,312
down €11,312 (-23.4%), from €48,440 to €37,127
of which Furniture and vehicles: -€9,132
- Reserves +€23,227
up €23,227 (+55.9%), from €41,561 to €64,788
- Tax, wage and social debts -€2,347
down €2,347 (-16.0%), from €14,689 to €12,341
- Gross operating margin -€14,908
down €14,908 (-26.5%), from €56,331 to €41,423
- Depreciation +€7,550
up €7,550 (+200.7%), from €3,762 to €11,312
- Taxes -€4,296
down €4,296 (-40.2%), from €10,696 to €6,400
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 | €61,860 | €82,375 | +€20,516 | +33.2% |
| Fixed assets | 21/28 | €48,440 | €37,127 | -€11,312 | -23.4% |
| Tangible fixed assets | 22/27 | €48,440 | €37,127 | -€11,312 | -23.4% |
| Plant, machinery and equipment | 23 | €5,028 | €2,848 | -€2,180 | -43.4% |
| Furniture and vehicles | 24 | €43,412 | €34,279 | -€9,132 | -21.0% |
| Current assets | 29/58 | €13,420 | €45,248 | +€31,828 | +237.2% |
| Amounts receivable within one year | 40/41 | €522 | €12,100 | +€11,578 | +2215.9% |
| Trade receivables | 40 | - | €12,100 | +€12,100 | |
| Other amounts receivable | 41 | €522 | - | -€522 | |
| Cash at bank and in hand | 54/58 | €11,890 | €31,515 | +€19,626 | +165.1% |
| Deferred charges and accrued income | 490/1 | €1,008 | €1,632 | +€625 | +62.0% |
| Total equity and liabilities | 10/49 | €61,860 | €82,375 | +€20,516 | +33.2% |
| Equity | 10/15 | €46,561 | €69,788 | +€23,227 | +49.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €41,561 | €64,788 | +€23,227 | +55.9% |
| Distributable reserves | 133 | €41,561 | €64,788 | +€23,227 | +55.9% |
| Amounts payable | 17/49 | €15,299 | €12,587 | -€2,711 | -17.7% |
| Amounts payable within one year | 42/48 | €15,299 | €12,587 | -€2,711 | -17.7% |
| Trade debts | 44 | €207 | €32 | -€175 | -84.5% |
| Suppliers | 440/4 | €207 | €32 | -€175 | -84.5% |
| Taxes, remuneration and social security | 45 | €14,689 | €12,341 | -€2,347 | -16.0% |
| Taxes | 450/3 | €14,689 | €12,341 | -€2,347 | -16.0% |
| Other amounts payable | 47/48 | €403 | €214 | -€189 | -46.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,762 | €11,312 | +€7,550 | +200.7% |
| Other operating charges | 640/8 | - | €198 | +€198 | |
| Gross operating margin | 9900 | €56,331 | €41,423 | -€14,908 | -26.5% |
| Operating profit (loss) | 9901 | €52,569 | €29,913 | -€22,656 | -43.1% |
| Financial charges | 65/66B | €312 | €285 | -€27 | -8.5% |
| Recurring financial charges | 65 | €312 | €285 | -€27 | -8.5% |
| Profit (loss) for the period before taxes | 9903 | €52,257 | €29,627 | -€22,630 | -43.3% |
| Income taxes | 67/77 | €10,696 | €6,400 | -€4,296 | -40.2% |
| Profit (loss) for the period | 9904 | €41,561 | €23,227 | -€18,334 | -44.1% |
| Profit (loss) for the period to be appropriated | 9905 | €41,561 | €23,227 | -€18,334 | -44.1% |
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 7 October 2026 via checked.be.