Embrechts Steven: 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 Steven
Largest movements
- Cash +€42,347
up €42,347 (+149%), from €28,419 to €70,766
mainly Other debts (+€57,287) and Net result for the year (+€56,481)
- Current investments -€26,000
down €26,000 (-100%), from €26,000 to €0
- Receivables within one year -€9,478
down €9,478 (-43.6%), from €21,719 to €12,241
of which Trade receivables: -€9,828
- Deferred charges and accrued income -€8,717
down €8,717 (-93.6%), from €9,311 to €594
- Tangible fixed assets +€1,447
up €1,447 (+5.4%), from €26,703 to €28,150
of which Furniture and vehicles: +€1,890
- Other debts +€57,287
up €57,287 (+9,772%), from €586 to €57,873
- Reserves -€36,274
down €36,274 (-50.5%), from €71,853 to €35,579
- Debts after one year -€8,143
down €8,143 (-100%), from €8,143 to €0
- Current portion of long-term debt -€7,440
down €7,440 (-100%), from €7,440 to €0
- Tax, wage and social debts -€5,433
down €5,433 (-42.0%), from €12,922 to €7,489
of which Taxes: -€5,433
- Gross operating margin +€8,390
up €8,390 (+12.7%), from €66,236 to €74,626
- Financial income +€7,585
up €7,585 (+7,218%), from €105 to €7,690
- Taxes +€1,509
up €1,509 (+13.2%), from €11,451 to €12,960
- Depreciation +€1,093
up €1,093 (+10.0%), from €10,976 to €12,069
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 | €116,057 | €116,018 | -€39 | 0.0% |
| Fixed assets | 21/28 | €26,703 | €28,150 | +€1,447 | +5.4% |
| Tangible fixed assets | 22/27 | €26,703 | €28,150 | +€1,447 | +5.4% |
| Plant, machinery and equipment | 23 | €9,582 | €9,138 | -€443 | -4.6% |
| Furniture and vehicles | 24 | €17,121 | €19,011 | +€1,890 | +11.0% |
| Current assets | 29/58 | €89,355 | €87,869 | -€1,486 | -1.7% |
| Stocks and contracts in progress | 3 | €3,906 | €4,268 | +€362 | +9.3% |
| Stocks | 30/36 | €3,906 | €4,268 | +€362 | +9.3% |
| Amounts receivable within one year | 40/41 | €21,719 | €12,241 | -€9,478 | -43.6% |
| Trade receivables | 40 | €21,670 | €11,842 | -€9,828 | -45.4% |
| Other amounts receivable | 41 | €49 | €399 | +€350 | +711% |
| Current investments | 50/53 | €26,000 | €0 | -€26,000 | -100% |
| Cash at bank and in hand | 54/58 | €28,419 | €70,766 | +€42,347 | +149% |
| Deferred charges and accrued income | 490/1 | €9,311 | €594 | -€8,717 | -93.6% |
| Total equity and liabilities | 10/49 | €116,057 | €116,018 | -€39 | 0.0% |
| Equity | 10/15 | €86,853 | €50,579 | -€36,274 | -41.8% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €71,853 | €35,579 | -€36,274 | -50.5% |
| Distributable reserves | 133 | €71,853 | €35,579 | -€36,274 | -50.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €29,205 | €65,440 | +€36,235 | +124% |
| Amounts payable after more than one year | 17 | €8,143 | €0 | -€8,143 | -100% |
| Financial debts | 170/4 | €8,143 | €0 | -€8,143 | -100% |
| Amounts payable within one year | 42/48 | €21,062 | €65,440 | +€44,378 | +211% |
| Current portion of amounts payable after more than one year | 42 | €7,440 | €0 | -€7,440 | -100% |
| Trade debts | 44 | €113 | €77 | -€36 | -31.6% |
| Suppliers | 440/4 | €113 | €77 | -€36 | -31.6% |
| Taxes, remuneration and social security | 45 | €12,922 | €7,489 | -€5,433 | -42.0% |
| Taxes | 450/3 | €10,632 | €5,199 | -€5,433 | -51.1% |
| Remuneration and social security | 454/9 | €2,290 | €2,290 | = | 0.0% |
| Other amounts payable | 47/48 | €586 | €57,873 | +€57,287 | +9,772% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,976 | €12,069 | +€1,093 | +10.0% |
| Other operating charges | 640/8 | €839 | €638 | -€201 | -23.9% |
| Gross operating margin | 9900 | €66,236 | €74,626 | +€8,390 | +12.7% |
| Operating profit (loss) | 9901 | €54,421 | €61,918 | +€7,498 | +13.8% |
| Financial income | 75/76B | €105 | €7,690 | +€7,585 | +7,218% |
| Recurring financial income | 75 | €105 | €7,690 | +€7,585 | +7,218% |
| Financial charges | 65/66B | €320 | €168 | -€152 | -47.4% |
| Recurring financial charges | 65 | €320 | €168 | -€152 | -47.4% |
| Profit (loss) for the period before taxes | 9903 | €54,205 | €69,441 | +€15,235 | +28.1% |
| Income taxes | 67/77 | €11,451 | €12,960 | +€1,509 | +13.2% |
| Profit (loss) for the period | 9904 | €42,755 | €56,481 | +€13,726 | +32.1% |
| Profit (loss) for the period to be appropriated | 9905 | €42,755 | €56,481 | +€13,726 | +32.1% |
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 1 November 2026 via checked.be.