EMBLA: 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.
EMBLA
Largest movements
- Current investments +€300,000
new in 2025: €300,000
- Cash -€223,572
down €223,572 (-84.3%), from €265,335 to €41,764
mainly Current investments (-€300,000) and Trade debts (-€39,533)
- Receivables within one year -€146,549
down €146,549 (-86.8%), from €168,876 to €22,327
of which Trade receivables: -€88,785
- Deferred charges and accrued income +€12,488
up €12,488 (+1867.0%), from €669 to €13,156
- Tangible fixed assets -€4,407
down €4,407 (-100.0%), from €4,407 to €0
- Trade debts -€39,533
down €39,533 (-75.8%), from €52,148 to €12,616
- Other debts +€29,917
new in 2025: €29,917
- Reserves -€27,208
down €27,208 (-8.0%), from €340,131 to €312,922
- Accrued charges and deferred income -€25,500
no longer reported in 2025 (was €25,500)
- Gross operating margin -€38,101
down €38,101, from €3,382 to -€34,719
- Financial income +€9,819
up €9,819 (+290.8%), from €3,377 to €13,196
- Depreciation -€1,292
down €1,292 (-22.7%), from €5,698 to €4,407
- Taxes -€715
down €715 (-68.9%), from €1,038 to €323
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 | €439,287 | €377,247 | -€62,040 | -14.1% |
| Fixed assets | 21/28 | €4,407 | €0 | -€4,407 | -100.0% |
| Tangible fixed assets | 22/27 | €4,407 | €0 | -€4,407 | -100.0% |
| Furniture and vehicles | 24 | €4,407 | €0 | -€4,407 | -100.0% |
| Current assets | 29/58 | €434,880 | €377,247 | -€57,633 | -13.3% |
| Amounts receivable within one year | 40/41 | €168,876 | €22,327 | -€146,549 | -86.8% |
| Trade receivables | 40 | €107,963 | €19,179 | -€88,785 | -82.2% |
| Other amounts receivable | 41 | €60,913 | €3,148 | -€57,765 | -94.8% |
| Current investments | 50/53 | - | €300,000 | +€300,000 | |
| Cash at bank and in hand | 54/58 | €265,335 | €41,764 | -€223,572 | -84.3% |
| Deferred charges and accrued income | 490/1 | €669 | €13,156 | +€12,488 | +1867.0% |
| Total equity and liabilities | 10/49 | €439,287 | €377,247 | -€62,040 | -14.1% |
| Equity | 10/15 | €360,131 | €332,922 | -€27,208 | -7.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €340,131 | €312,922 | -€27,208 | -8.0% |
| Distributable reserves | 133 | €340,131 | €312,922 | -€27,208 | -8.0% |
| Amounts payable | 17/49 | €79,157 | €44,324 | -€34,832 | -44.0% |
| Amounts payable within one year | 42/48 | €53,657 | €44,324 | -€9,332 | -17.4% |
| Trade debts | 44 | €52,148 | €12,616 | -€39,533 | -75.8% |
| Suppliers | 440/4 | €52,148 | €12,616 | -€39,533 | -75.8% |
| Taxes, remuneration and social security | 45 | €1,508 | €1,792 | +€283 | +18.8% |
| Taxes | 450/3 | €1,508 | €1,792 | +€283 | +18.8% |
| Other amounts payable | 47/48 | - | €29,917 | +€29,917 | |
| Accrued charges and deferred income | 492/3 | €25,500 | - | -€25,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,698 | €4,407 | -€1,292 | -22.7% |
| Other operating charges | 640/8 | €578 | €651 | +€73 | +12.6% |
| Gross operating margin | 9900 | €3,382 | -€34,719 | -€38,101 | |
| Operating profit (loss) | 9901 | -€2,894 | -€39,776 | -€36,883 | -1274.5% |
| Financial income | 75/76B | €3,377 | €13,196 | +€9,819 | +290.8% |
| Recurring financial income | 75 | €3,377 | €13,196 | +€9,819 | +290.8% |
| Financial charges | 65/66B | €376 | €305 | -€71 | -19.0% |
| Recurring financial charges | 65 | €376 | €305 | -€71 | -19.0% |
| Profit (loss) for the period before taxes | 9903 | €107 | -€26,885 | -€26,992 | |
| Income taxes | 67/77 | €1,038 | €323 | -€715 | -68.9% |
| Profit (loss) for the period | 9904 | -€931 | -€27,208 | -€26,277 | -2822.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€931 | -€27,208 | -€26,277 | -2822.9% |
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 5 October 2026 via checked.be.