EMBEGA: 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.
EMBEGA
Largest movements
- Tangible fixed assets -€27,577
down €27,577 (-10.6%), from €260,092 to €232,515
of which Land and buildings: -€16,871
- Cash -€7,660
no longer reported in 2025 (was €7,660)
mainly Debts after one year (-€32,325) and Current portion of long-term debt (-€8,649)
- Debts after one year -€32,325
down €32,325 (-13.7%), from €235,271 to €202,945
- Current portion of long-term debt -€8,649
down €8,649 (-21.1%), from €40,974 to €32,325
- Profit (loss) carried forward +€7,935
up €7,935 (+57.0%), from -€13,918 to -€5,983
- Tax, wage and social debts -€4,880
no longer reported in 2025 (was €4,880)
- Staff costs -€24,960
down €24,960 (-71.0%), from €35,165 to €10,204
- Gross operating margin -€8,675
down €8,675 (-13.6%), from €63,801 to €55,126
- Depreciation -€5,846
down €5,846 (-17.6%), from €33,189 to €27,343
- Financial charges -€1,407
down €1,407 (-13.6%), from €10,365 to €8,958
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 | €435,608 | €398,784 | -€36,824 | -8.5% |
| Fixed assets | 21/28 | €426,079 | €398,502 | -€27,577 | -6.5% |
| Tangible fixed assets | 22/27 | €260,092 | €232,515 | -€27,577 | -10.6% |
| Land and buildings | 22 | €218,442 | €201,571 | -€16,871 | -7.7% |
| Plant, machinery and equipment | 23 | €40,239 | €30,176 | -€10,063 | -25.0% |
| Furniture and vehicles | 24 | €1,411 | €768 | -€643 | -45.6% |
| Financial fixed assets | 28 | €165,987 | €165,987 | = | 0.0% |
| Current assets | 29/58 | €9,529 | €282 | -€9,247 | -97.0% |
| Cash at bank and in hand | 54/58 | €7,660 | - | -€7,660 | |
| Deferred charges and accrued income | 490/1 | €1,869 | €282 | -€1,587 | -84.9% |
| Total equity and liabilities | 10/49 | €435,608 | €398,784 | -€36,824 | -8.5% |
| Equity | 10/15 | €127,982 | €135,917 | +€7,935 | +6.2% |
| Contributions | 10/11 | €22,000 | €22,000 | = | 0.0% |
| Reserves | 13 | €119,900 | €119,900 | = | 0.0% |
| Distributable reserves | 133 | €119,900 | €119,900 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,918 | -€5,983 | +€7,935 | +57.0% |
| Amounts payable | 17/49 | €307,626 | €262,867 | -€44,759 | -14.5% |
| Amounts payable after more than one year | 17 | €235,271 | €202,945 | -€32,325 | -13.7% |
| Financial debts | 170/4 | €235,271 | €202,945 | -€32,325 | -13.7% |
| Amounts payable within one year | 42/48 | €72,355 | €59,922 | -€12,433 | -17.2% |
| Current portion of amounts payable after more than one year | 42 | €40,974 | €32,325 | -€8,649 | -21.1% |
| Financial debts | 43 | - | €3,126 | +€3,126 | |
| Credit institutions | 430/8 | - | €3,126 | +€3,126 | |
| Trade debts | 44 | €4,282 | €622 | -€3,660 | -85.5% |
| Suppliers | 440/4 | €4,282 | €622 | -€3,660 | -85.5% |
| Taxes, remuneration and social security | 45 | €4,880 | - | -€4,880 | |
| Remuneration and social security | 454/9 | €4,880 | - | -€4,880 | |
| Other amounts payable | 47/48 | €22,219 | €23,849 | +€1,630 | +7.3% |
| Remuneration, social security and pensions | 62 | €35,165 | €10,204 | -€24,960 | -71.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,189 | €27,343 | -€5,846 | -17.6% |
| Other operating charges | 640/8 | €508 | - | -€508 | |
| Non-recurring operating charges | 66A | - | €235 | +€235 | |
| Gross operating margin | 9900 | €63,801 | €55,126 | -€8,675 | -13.6% |
| Operating profit (loss) | 9901 | -€5,060 | €17,344 | +€22,404 | |
| Financial charges | 65/66B | €10,365 | €8,958 | -€1,407 | -13.6% |
| Recurring financial charges | 65 | €10,365 | €8,958 | -€1,407 | -13.6% |
| Profit (loss) for the period before taxes | 9903 | -€15,425 | €8,386 | +€23,811 | |
| Income taxes | 67/77 | €24 | €451 | +€427 | +1745.0% |
| Profit (loss) for the period | 9904 | -€15,449 | €7,935 | +€23,384 | |
| Profit (loss) for the period to be appropriated | 9905 | -€15,449 | €7,935 | +€23,384 |
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 3 October 2026 via checked.be.