Embridge Group: 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.
Embridge Group
Largest movements
- Cash -€1.4m
down €1.4m (-97.1%), from €1.5m to €42,040
mainly Short-term financial debts (-€1.2m) and Receivables within one year (-€1.1m)
- Receivables within one year +€1.1m
up €1.1m (+49.0%), from €2.2m to €3.3m
of which Trade receivables: +€757,640
- Short-term financial debts -€1.2m
down €1.2m (-36.4%), from €3.2m to €2.1m
- Other debts +€1.2m
up €1.2m (+128%), from €905,917 to €2.1m
- Profit (loss) carried forward +€1.1m
no longer reported in 2025 (was -€1.1m)
- Reserves -€1.1m
down €1.1m (-74.5%), from €1.5m to €373,345
of which Distributable reserves: -€1.1m
- Trade debts -€567,691
down €567,691 (-61.2%), from €927,998 to €360,307
- Gross operating margin +€1.1m
up €1.1m, from -€706,461 to €440,368
- Staff costs +€230,719
up €230,719, from -€224,522 to €6,197
- Financial charges +€97,392
up €97,392 (+34.2%), from €284,639 to €382,031
of which Non-recurring financial charges: +€142,160
- Financial income +€67,161
up €67,161 (+3,170%), from €2,119 to €69,280
of which Non-recurring financial income: +€63,320
- Other operating charges -€48,818
down €48,818 (-82.0%), from €59,517 to €10,699
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 | €7,522,632 | €7,033,894 | -€488,738 | -6.5% |
| Fixed assets | 21/28 | €3,692,878 | €3,586,416 | -€106,462 | -2.9% |
| Intangible fixed assets | 21 | €108,714 | €64,005 | -€44,709 | -41.1% |
| Tangible fixed assets | 22/27 | €238,666 | €180,137 | -€58,529 | -24.5% |
| Plant, machinery and equipment | 23 | €24,364 | €15,046 | -€9,318 | -38.2% |
| Furniture and vehicles | 24 | €124,959 | €85,625 | -€39,333 | -31.5% |
| Other tangible fixed assets | 26 | €89,343 | €79,466 | -€9,877 | -11.1% |
| Financial fixed assets | 28 | €3,345,498 | €3,342,274 | -€3,224 | -0.1% |
| Current assets | 29/58 | €3,829,754 | €3,447,478 | -€382,276 | -10.0% |
| Amounts receivable after more than one year | 29 | €98,440 | €61,400 | -€37,040 | -37.6% |
| Other amounts receivable | 291 | €98,440 | €61,400 | -€37,040 | -37.6% |
| Amounts receivable within one year | 40/41 | €2,234,483 | €3,328,673 | +€1.1m | +49.0% |
| Trade receivables | 40 | €476,051 | €1,233,690 | +€757,640 | +159% |
| Other amounts receivable | 41 | €1,758,433 | €2,094,982 | +€336,550 | +19.1% |
| Cash at bank and in hand | 54/58 | €1,458,248 | €42,040 | -€1.4m | -97.1% |
| Deferred charges and accrued income | 490/1 | €38,583 | €15,366 | -€23,218 | -60.2% |
| Total equity and liabilities | 10/49 | €7,522,632 | €7,033,894 | -€488,738 | -6.5% |
| Equity | 10/15 | €1,167,542 | €1,168,867 | +€1,325 | +0.1% |
| Contributions | 10/11 | €777,000 | €777,000 | = | 0.0% |
| Capital | 10 | €777,000 | €777,000 | = | 0.0% |
| Issued capital | 100 | €777,000 | €777,000 | = | 0.0% |
| Revaluation surpluses | 12 | €18,522 | €18,522 | = | 0.0% |
| Reserves | 13 | €1,465,514 | €373,345 | -€1.1m | -74.5% |
| Non-distributable reserves | 130/1 | €77,700 | €77,700 | = | 0.0% |
| Legal reserve | 130 | €77,700 | €77,700 | = | 0.0% |
| Distributable reserves | 133 | €1,387,814 | €295,645 | -€1.1m | -78.7% |
| Profit (loss) carried forward | 14 | -€1,093,494 | - | +€1.1m | |
| Amounts payable | 17/49 | €6,355,091 | €5,865,027 | -€490,064 | -7.7% |
| Amounts payable after more than one year | 17 | €1,250,000 | €1,339,685 | +€89,685 | +7.2% |
| Financial debts | 170/4 | €1,250,000 | €1,339,685 | +€89,685 | +7.2% |
| Amounts payable within one year | 42/48 | €5,067,438 | €4,517,439 | -€549,999 | -10.9% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €3,233,214 | €2,056,393 | -€1.2m | -36.4% |
| Credit institutions | 430/8 | €3,233,214 | €2,056,393 | -€1.2m | -36.4% |
| Trade debts | 44 | €927,998 | €360,307 | -€567,691 | -61.2% |
| Suppliers | 440/4 | €927,998 | €360,307 | -€567,691 | -61.2% |
| Taxes, remuneration and social security | 45 | €309 | €35,898 | +€35,589 | +11,530% |
| Taxes | 450/3 | €309 | €35,898 | +€35,589 | +11,530% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €905,917 | €2,064,841 | +€1.2m | +128% |
| Accrued charges and deferred income | 492/3 | €37,653 | €7,903 | -€29,750 | -79.0% |
| Non-recurring operating income | 76A | €11,136 | - | -€11,136 | |
| Remuneration, social security and pensions | 62 | -€224,522 | €6,197 | +€230,719 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,040 | €105,099 | +€25,059 | +31.3% |
| Other operating charges | 640/8 | €59,517 | €10,699 | -€48,818 | -82.0% |
| Non-recurring operating charges | 66A | - | €3,942 | +€3,942 | |
| Gross operating margin | 9900 | -€706,461 | €440,368 | +€1.1m | |
| Operating profit (loss) | 9901 | -€621,496 | €314,430 | +€935,926 | |
| Financial income | 75/76B | €2,119 | €69,280 | +€67,161 | +3,170% |
| Recurring financial income | 75 | €2,119 | €5,960 | +€3,841 | +181% |
| Non-recurring financial income | 76B | - | €63,320 | +€63,320 | |
| Financial charges | 65/66B | €284,639 | €382,031 | +€97,392 | +34.2% |
| Recurring financial charges | 65 | €284,639 | €239,870 | -€44,768 | -15.7% |
| Non-recurring financial charges | 66B | - | €142,160 | +€142,160 | |
| Profit (loss) for the period before taxes | 9903 | -€904,016 | €1,680 | +€905,696 | |
| Income taxes | 67/77 | €309 | €354 | +€46 | +14.8% |
| Profit (loss) for the period | 9904 | -€904,325 | €1,325 | +€905,650 | |
| Profit (loss) for the period to be appropriated | 9905 | -€904,325 | €1,325 | +€905,650 |
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 17 October 2026 via checked.be.