EMBREGEREZH: what changed
What changed
EMBREGEREZH
NACE 68.110, Buying and selling of own real estate
filed annual accounts (NBB)
Net result for the year
€1.1m
2024 · €896,227+€182,746
Equity
€24.9m
2024 · €24.5m+€453,066
Cash
€1.4m
2024 · €1.2m+€233,352
Balance sheet total
€25.4m
2024 · €24.8m+€541,623
Largest movements
Assets
- Current investments +€590,603
up €590,603 (+3.3%), from €17.9m to €18.5m
- Receivables within one year -€288,425
down €288,425 (-93.2%), from €309,441 to €21,016
of which Other amounts receivable: -€281,165
Equity and liabilities
- Reserves +€453,066
up €453,066 (+11.3%), from €4.0m to €4.5m
Income statement
- Financial charges -€235,015
down €235,015 (-40.9%), from €575,005 to €339,989
of which Non-recurring financial charges: -€323,667
- Financial income -€120,839
down €120,839 (-7.0%), from €1.7m to €1.6m
of which Non-recurring financial income: -€341,778
- Gross operating margin +€93,185
up €93,185 (+73.1%), from -€127,477 to -€34,292
- Taxes +€69,107
up €69,107 (+78.4%), from €88,157 to €157,263
- Other operating charges -€31,031
down €31,031 (-71.0%), from €43,678 to €12,647
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€896,227
Gross operating margin
+€93,185
Depreciation
-€1,114
Other operating charges
+€31,031
Other operating items
+€14,574
Financial income
-€120,839
Financial charges
+€235,015
Taxes
-€69,107
Result 2025
€1.1m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€1.5m
Investment
-€689,124
Financing
-€625,906
Cash 2024
€1.2m
From operations (derived)
+€1.5m
Net result for the year
+€1.1m
Depreciation
+€2,123
Receivables within one year
+€288,425
Deferred charges and accrued income
+€90,305
Trade debts
-€71,209
Tax, wage and social debts
-€14,743
Other debts
+€174,509
Investment (derived)
-€689,124
Investment in fixed assets (net)
-€98,521
Current investments
-€590,603
Financing
-€625,906
Contributions, distributions and other
-€625,906
Cash 2025
€1.4m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €24,839,348 | €25,380,971 | +€541,623 | +2.2% |
| Fixed assets | 21/28 | €5,227,925 | €5,324,323 | +€96,397 | +1.8% |
| Tangible fixed assets | 22/27 | €6,928 | €6,209 | -€718 | -10.4% |
| Furniture and vehicles | 24 | €5,175 | €4,457 | -€718 | -13.9% |
| Other tangible fixed assets | 26 | €1,753 | €1,753 | = | 0.0% |
| Financial fixed assets | 28 | €5,220,998 | €5,318,113 | +€97,115 | +1.9% |
| Current assets | 29/58 | €19,611,423 | €20,056,648 | +€445,226 | +2.3% |
| Amounts receivable within one year | 40/41 | €309,441 | €21,016 | -€288,425 | -93.2% |
| Trade receivables | 40 | €12,840 | €5,580 | -€7,260 | -56.5% |
| Other amounts receivable | 41 | €296,601 | €15,436 | -€281,165 | -94.8% |
| Current investments | 50/53 | €17,862,030 | €18,452,633 | +€590,603 | +3.3% |
| Cash at bank and in hand | 54/58 | €1,192,334 | €1,425,686 | +€233,352 | +19.6% |
| Deferred charges and accrued income | 490/1 | €247,617 | €157,313 | -€90,305 | -36.5% |
| Total equity and liabilities | 10/49 | €24,839,348 | €25,380,971 | +€541,623 | +2.2% |
| Equity | 10/15 | €24,495,893 | €24,948,959 | +€453,066 | +1.8% |
| Contributions | 10/11 | €15,978,116 | €15,978,116 | = | 0.0% |
| Reserves | 13 | €4,017,332 | €4,470,398 | +€453,066 | +11.3% |
| Distributable reserves | 133 | €4,017,332 | €4,470,398 | +€453,066 | +11.3% |
| Profit (loss) carried forward | 14 | €4,500,445 | €4,500,445 | = | 0.0% |
| Amounts payable | 17/49 | €343,455 | €432,012 | +€88,557 | +25.8% |
| Amounts payable within one year | 42/48 | €343,455 | €432,012 | +€88,557 | +25.8% |
| Trade debts | 44 | €86,833 | €15,624 | -€71,209 | -82.0% |
| Suppliers | 440/4 | €86,833 | €15,624 | -€71,209 | -82.0% |
| Taxes, remuneration and social security | 45 | €256,622 | €241,879 | -€14,743 | -5.7% |
| Taxes | 450/3 | €256,622 | €241,879 | -€14,743 | -5.7% |
| Other amounts payable | 47/48 | - | €174,509 | +€174,509 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,009 | €2,123 | +€1,114 | +110% |
| Other operating charges | 640/8 | €43,678 | €12,647 | -€31,031 | -71.0% |
| Non-recurring operating charges | 66A | - | -€14,574 | -€14,574 | |
| Gross operating margin | 9900 | -€127,477 | -€34,292 | +€93,185 | +73.1% |
| Operating profit (loss) | 9901 | -€172,164 | -€34,488 | +€137,676 | +80.0% |
| Financial income | 75/76B | €1,731,552 | €1,610,713 | -€120,839 | -7.0% |
| Recurring financial income | 75 | €1,389,774 | €1,610,713 | +€220,939 | +15.9% |
| Non-recurring financial income | 76B | €341,778 | - | -€341,778 | |
| Financial charges | 65/66B | €575,005 | €339,989 | -€235,015 | -40.9% |
| Recurring financial charges | 65 | €251,338 | €339,989 | +€88,652 | +35.3% |
| Non-recurring financial charges | 66B | €323,667 | - | -€323,667 | |
| Profit (loss) for the period before taxes | 9903 | €984,384 | €1,236,236 | +€251,852 | +25.6% |
| Income taxes | 67/77 | €88,157 | €157,263 | +€69,107 | +78.4% |
| Profit (loss) for the period | 9904 | €896,227 | €1,078,973 | +€182,746 | +20.4% |
| Profit (loss) for the period to be appropriated | 9905 | €896,227 | €1,078,973 | +€182,746 | +20.4% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.