EMBRACE EVOLVE: 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.
EMBRACE EVOLVE
Largest movements
- Intangible fixed assets -€9,363
down €9,363 (-30.3%), from €30,939 to €21,577
- Cash -€1,815
down €1,815 (-73.5%), from €2,468 to €654
mainly Net result for the year (-€17,787) and Investment in fixed assets (net) (-€2,971)
- Tangible fixed assets +€1,156
up €1,156 (+50.4%), from €2,294 to €3,450
of which Furniture and vehicles: +€2,468
- Receivables within one year +€1,037
up €1,037 (+81.3%), from €1,276 to €2,313
- Profit (loss) carried forward -€17,787
down €17,787 (-15.4%), from -€115,755 to -€133,543
- Other debts +€9,847
up €9,847 (+18.2%), from €54,159 to €64,007
- Debts after one year -€609
down €609 (-0.8%), from €77,943 to €77,334
- Trade debts -€548
down €548 (-79.5%), from €690 to €142
- Gross operating margin -€22,886
down €22,886, from €17,659 to -€5,227
- Financial charges +€783
up €783 (+925.1%), from €85 to €867
- Financial income +€592
up €592 (+2960850.0%), from €0 to €592
- Depreciation +€485
up €485 (+4.5%), from €10,692 to €11,177
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 | €37,125 | €27,994 | -€9,131 | -24.6% |
| Fixed assets | 21/28 | €33,233 | €25,027 | -€8,206 | -24.7% |
| Intangible fixed assets | 21 | €30,939 | €21,577 | -€9,363 | -30.3% |
| Tangible fixed assets | 22/27 | €2,294 | €3,450 | +€1,156 | +50.4% |
| Plant, machinery and equipment | 23 | €1,312 | €0 | -€1,312 | -100.0% |
| Furniture and vehicles | 24 | €982 | €3,450 | +€2,468 | +251.3% |
| Current assets | 29/58 | €3,892 | €2,967 | -€925 | -23.8% |
| Amounts receivable within one year | 40/41 | €1,276 | €2,313 | +€1,037 | +81.3% |
| Trade receivables | 40 | €1,276 | €2,313 | +€1,037 | +81.3% |
| Current investments | 50/53 | €1 | €0 | -€1 | -100.0% |
| Cash at bank and in hand | 54/58 | €2,468 | €654 | -€1,815 | -73.5% |
| Deferred charges and accrued income | 490/1 | €146 | €0 | -€146 | -100.0% |
| Total equity and liabilities | 10/49 | €37,125 | €27,994 | -€9,131 | -24.6% |
| Equity | 10/15 | -€97,163 | -€114,951 | -€17,787 | -18.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€115,755 | -€133,543 | -€17,787 | -15.4% |
| Amounts payable | 17/49 | €134,288 | €142,945 | +€8,656 | +6.4% |
| Amounts payable after more than one year | 17 | €77,943 | €77,334 | -€609 | -0.8% |
| Financial debts | 170/4 | €77,943 | €77,334 | -€609 | -0.8% |
| Amounts payable within one year | 42/48 | €56,345 | €65,592 | +€9,247 | +16.4% |
| Current portion of amounts payable after more than one year | 42 | €600 | €600 | = | 0.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €690 | €142 | -€548 | -79.5% |
| Suppliers | 440/4 | €690 | €142 | -€548 | -79.5% |
| Taxes, remuneration and social security | 45 | €896 | €844 | -€52 | -5.8% |
| Taxes | 450/3 | €896 | €844 | -€52 | -5.8% |
| Other amounts payable | 47/48 | €54,159 | €64,007 | +€9,847 | +18.2% |
| Accrued charges and deferred income | 492/3 | €0 | €18 | +€18 | |
| Remuneration, social security and pensions | 62 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,692 | €11,177 | +€485 | +4.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €1,280 | €1,108 | -€173 | -13.5% |
| Non-recurring operating charges | 66A | €2,436 | €0 | -€2,436 | -100.0% |
| Gross operating margin | 9900 | €17,659 | -€5,227 | -€22,886 | |
| Operating profit (loss) | 9901 | €3,251 | -€17,512 | -€20,763 | |
| Financial income | 75/76B | €0 | €592 | +€592 | +2960850.0% |
| Recurring financial income | 75 | €0 | €592 | +€592 | +2960850.0% |
| Financial charges | 65/66B | €85 | €867 | +€783 | +925.1% |
| Recurring financial charges | 65 | €85 | €867 | +€783 | +925.1% |
| Profit (loss) for the period before taxes | 9903 | €3,166 | -€17,787 | -€20,953 | |
| Profit (loss) for the period | 9904 | €3,166 | -€17,787 | -€20,953 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,166 | -€17,787 | -€20,953 |
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 12 October 2026 via checked.be.