EMBRECHTS JAN: 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.
EMBRECHTS JAN
Largest movements
- Receivables within one year +€79,718
up €79,718 (+133%), from €60,003 to €139,720
of which Trade receivables: +€92,218
- Tangible fixed assets -€52,916
down €52,916 (-21.4%), from €246,904 to €193,988
of which Plant, machinery and equipment: -€49,568
- Cash -€19,338
no longer reported in 2025 (was €19,338)
mainly Receivables within one year (-€79,718) and Debts after one year (-€40,351)
- Short-term financial debts +€42,550
new in 2025: €42,550
- Debts after one year -€40,351
down €40,351 (-55.4%), from €72,790 to €32,439
- Trade debts +€12,175
up €12,175 (+80.0%), from €15,222 to €27,397
- Other debts -€10,537
down €10,537 (-8.9%), from €118,365 to €107,827
- Reserves +€5,384
up €5,384 (+6.3%), from €85,522 to €90,906
of which Distributable reserves: +€5,384
- Gross operating margin -€17,271
down €17,271 (-18.5%), from €93,186 to €75,915
- Depreciation -€6,933
down €6,933 (-10.2%), from €67,779 to €60,846
- Financial charges -€1,603
down €1,603 (-21.2%), from €7,549 to €5,946
- Taxes -€1,270
down €1,270 (-47.2%), from €2,690 to €1,420
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 | €341,715 | €353,648 | +€11,933 | +3.5% |
| Fixed assets | 21/28 | €246,904 | €193,988 | -€52,916 | -21.4% |
| Tangible fixed assets | 22/27 | €246,904 | €193,988 | -€52,916 | -21.4% |
| Plant, machinery and equipment | 23 | €223,080 | €173,512 | -€49,568 | -22.2% |
| Furniture and vehicles | 24 | €14,441 | €10,413 | -€4,028 | -27.9% |
| Other tangible fixed assets | 26 | €9,383 | €10,062 | +€680 | +7.2% |
| Current assets | 29/58 | €94,811 | €159,660 | +€64,849 | +68.4% |
| Stocks and contracts in progress | 3 | €12,500 | €15,000 | +€2,500 | +20.0% |
| Stocks | 30/36 | €12,500 | €15,000 | +€2,500 | +20.0% |
| Amounts receivable within one year | 40/41 | €60,003 | €139,720 | +€79,718 | +133% |
| Trade receivables | 40 | €44,555 | €136,773 | +€92,218 | +207% |
| Other amounts receivable | 41 | €15,447 | €2,947 | -€12,500 | -80.9% |
| Cash at bank and in hand | 54/58 | €19,338 | - | -€19,338 | |
| Deferred charges and accrued income | 490/1 | €2,970 | €4,940 | +€1,970 | +66.3% |
| Total equity and liabilities | 10/49 | €341,715 | €353,648 | +€11,933 | +3.5% |
| Equity | 10/15 | €91,722 | €97,106 | +€5,384 | +5.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €85,522 | €90,906 | +€5,384 | +6.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €83,662 | €89,046 | +€5,384 | +6.4% |
| Amounts payable | 17/49 | €249,993 | €256,542 | +€6,549 | +2.6% |
| Amounts payable after more than one year | 17 | €72,790 | €32,439 | -€40,351 | -55.4% |
| Financial debts | 170/4 | €72,790 | €32,439 | -€40,351 | -55.4% |
| Amounts payable within one year | 42/48 | €177,203 | €224,103 | +€46,900 | +26.5% |
| Current portion of amounts payable after more than one year | 42 | €41,383 | €40,351 | -€1,033 | -2.5% |
| Financial debts | 43 | - | €42,550 | +€42,550 | |
| Credit institutions | 430/8 | - | €42,550 | +€42,550 | |
| Trade debts | 44 | €15,222 | €27,397 | +€12,175 | +80.0% |
| Suppliers | 440/4 | €15,222 | €27,397 | +€12,175 | +80.0% |
| Taxes, remuneration and social security | 45 | €2,233 | €5,978 | +€3,745 | +168% |
| Taxes | 450/3 | €769 | €5,978 | +€5,209 | +677% |
| Remuneration and social security | 454/9 | €1,464 | - | -€1,464 | |
| Other amounts payable | 47/48 | €118,365 | €107,827 | -€10,537 | -8.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,779 | €60,846 | -€6,933 | -10.2% |
| Other operating charges | 640/8 | €1,578 | €2,369 | +€791 | +50.1% |
| Gross operating margin | 9900 | €93,186 | €75,915 | -€17,271 | -18.5% |
| Operating profit (loss) | 9901 | €23,829 | €12,700 | -€11,129 | -46.7% |
| Financial income | 75/76B | €452 | €50 | -€403 | -89.0% |
| Recurring financial income | 75 | €452 | €50 | -€403 | -89.0% |
| Financial charges | 65/66B | €7,549 | €5,946 | -€1,603 | -21.2% |
| Recurring financial charges | 65 | €7,549 | €5,946 | -€1,603 | -21.2% |
| Profit (loss) for the period before taxes | 9903 | €16,732 | €6,804 | -€9,928 | -59.3% |
| Income taxes | 67/77 | €2,690 | €1,420 | -€1,270 | -47.2% |
| Profit (loss) for the period | 9904 | €14,042 | €5,384 | -€8,658 | -61.7% |
| Profit (loss) for the period to be appropriated | 9905 | €14,042 | €5,384 | -€8,658 | -61.7% |
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 28 October 2026 via checked.be.