EMBRAZE: 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.
EMBRAZE
Largest movements
- Cash +€37,930
up €37,930 (+120%), from €31,480 to €69,410
mainly Net result for the year (+€27,132) and Other debts (+€24,987)
- Receivables within one year -€23,507
down €23,507 (-46.7%), from €50,316 to €26,809
of which Trade receivables: -€24,085
- Tangible fixed assets +€1,059
new in 2025: €1,059
- Other debts +€24,987
up €24,987 (+1,425%), from €1,754 to €26,741
- Tax, wage and social debts -€4,265
down €4,265 (-19.3%), from €22,056 to €17,791
- Profit (loss) carried forward -€2,701
down €2,701 (-5.1%), from €52,581 to €49,880
- Trade debts -€2,343
down €2,343 (-56.7%), from €4,130 to €1,787
- Gross operating margin -€13,432
down €13,432 (-26.8%), from €50,193 to €36,760
- Write-downs -€9,449
down €9,449 (-100%), from €9,449 to €0
- Financial charges -€738
down €738 (-59.9%), from €1,232 to €495
- Taxes -€694
down €694 (-7.9%), from €8,770 to €8,076
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.
Derived cash bridge
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 | €83,602 | €99,232 | +€15,630 | +18.7% |
| Fixed assets | 21/28 | - | €1,059 | +€1,059 | |
| Tangible fixed assets | 22/27 | - | €1,059 | +€1,059 | |
| Furniture and vehicles | 24 | - | €1,059 | +€1,059 | |
| Current assets | 29/58 | €83,602 | €98,173 | +€14,570 | +17.4% |
| Amounts receivable within one year | 40/41 | €50,316 | €26,809 | -€23,507 | -46.7% |
| Trade receivables | 40 | €50,269 | €26,184 | -€24,085 | -47.9% |
| Other amounts receivable | 41 | €47 | €624 | +€578 | +1,238% |
| Cash at bank and in hand | 54/58 | €31,480 | €69,410 | +€37,930 | +120% |
| Deferred charges and accrued income | 490/1 | €1,806 | €1,954 | +€147 | +8.2% |
| Total equity and liabilities | 10/49 | €83,602 | €99,232 | +€15,630 | +18.7% |
| Equity | 10/15 | €55,581 | €52,880 | -€2,701 | -4.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €52,581 | €49,880 | -€2,701 | -5.1% |
| Amounts payable | 17/49 | €28,021 | €46,352 | +€18,331 | +65.4% |
| Amounts payable within one year | 42/48 | €28,021 | €46,352 | +€18,331 | +65.4% |
| Financial debts | 43 | €82 | €33 | -€49 | -60.0% |
| Credit institutions | 430/8 | €82 | €33 | -€49 | -60.0% |
| Trade debts | 44 | €4,130 | €1,787 | -€2,343 | -56.7% |
| Suppliers | 440/4 | €4,130 | €1,787 | -€2,343 | -56.7% |
| Taxes, remuneration and social security | 45 | €22,056 | €17,791 | -€4,265 | -19.3% |
| Taxes | 450/3 | €22,056 | €17,791 | -€4,265 | -19.3% |
| Other amounts payable | 47/48 | €1,754 | €26,741 | +€24,987 | +1,425% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €305 | +€305 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €9,449 | €0 | -€9,449 | -100% |
| Other operating charges | 640/8 | €486 | €753 | +€267 | +54.9% |
| Gross operating margin | 9900 | €50,193 | €36,760 | -€13,432 | -26.8% |
| Operating profit (loss) | 9901 | €40,258 | €35,702 | -€4,555 | -11.3% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €1,232 | €495 | -€738 | -59.9% |
| Recurring financial charges | 65 | €1,232 | €495 | -€738 | -59.9% |
| Profit (loss) for the period before taxes | 9903 | €39,026 | €35,208 | -€3,818 | -9.8% |
| Income taxes | 67/77 | €8,770 | €8,076 | -€694 | -7.9% |
| Profit (loss) for the period | 9904 | €30,256 | €27,132 | -€3,124 | -10.3% |
| Profit (loss) for the period to be appropriated | 9905 | €30,256 | €27,132 | -€3,124 | -10.3% |
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 22 October 2026 via checked.be.