EMBS INVEST: what changed
What changed
EMBS INVEST
filed annual accounts (NBB)
Net result for the year
-€90,223
2024 · -€65,845-€24,378
Equity
-€503,130
2024 · -€412,907-€90,223
Cash
€247,009
2024 · €148,766+€98,242
Balance sheet total
€3.2m
2024 · €3.2m-€53,917
Largest movements
Assets
- Current investments -€174,813
down €174,813 (-17.0%), from €1.0m to €853,513
- Cash +€98,242
up €98,242 (+66.0%), from €148,766 to €247,009
mainly Current investments (+€174,813) and Depreciation (+€62,649)
- Receivables after one year +€51,021
new in 2025: €51,021
- Tangible fixed assets -€35,738
down €35,738 (-1.8%), from €2.0m to €2.0m
Equity and liabilities
- Profit (loss) carried forward -€90,223
down €90,223 (-17.6%), from -€513,707 to -€603,930
- Debts after one year +€37,539
up €37,539 (+1.0%), from €3.6m to €3.7m
Income statement
- Financial charges +€73,816
up €73,816 (+154%), from €47,795 to €121,611
- Gross operating margin +€27,620
up €27,620 (+56.4%), from €48,989 to €76,608
- Financial income +€14,713
up €14,713 (+155%), from €9,522 to €24,235
- Depreciation -€7,202
down €7,202 (-10.3%), from €69,851 to €62,649
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
-€65,845
Gross operating margin
+€27,620
Depreciation
+€7,202
Other operating charges
-€97
Financial income
+€14,713
Financial charges
-€73,816
Result 2025
-€90,223
raises the resultlowers the result
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
-€87,199
Investment
+€147,902
Financing
+€37,539
Cash 2024
€148,766
From operations (derived)
-€87,199
Net result for the year
-€90,223
Depreciation
+€62,649
Receivables after one year
-€51,021
Receivables within one year
-€5,694
Deferred charges and accrued income
-€1,677
Smaller working-capital items
-€672
Tax, wage and social debts
-€560
Investment (derived)
+€147,902
Investment in fixed assets (net)
-€26,911
Current investments
+€174,813
Financing
+€37,539
Debts after one year
+€37,539
Cash 2025
€247,009
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,221,128 | €3,167,211 | -€53,917 | -1.7% |
| Fixed assets | 21/28 | €2,038,851 | €2,003,113 | -€35,738 | -1.8% |
| Tangible fixed assets | 22/27 | €2,038,851 | €2,003,113 | -€35,738 | -1.8% |
| Land and buildings | 22 | €2,038,851 | €2,003,113 | -€35,738 | -1.8% |
| Current assets | 29/58 | €1,182,277 | €1,164,098 | -€18,179 | -1.5% |
| Amounts receivable after more than one year | 29 | - | €51,021 | +€51,021 | |
| Other amounts receivable | 291 | - | €51,021 | +€51,021 | |
| Amounts receivable within one year | 40/41 | €782 | €6,476 | +€5,694 | +729% |
| Other amounts receivable | 41 | €782 | €6,476 | +€5,694 | +729% |
| Current investments | 50/53 | €1,028,327 | €853,513 | -€174,813 | -17.0% |
| Cash at bank and in hand | 54/58 | €148,766 | €247,009 | +€98,242 | +66.0% |
| Deferred charges and accrued income | 490/1 | €4,402 | €6,079 | +€1,677 | +38.1% |
| Total equity and liabilities | 10/49 | €3,221,128 | €3,167,211 | -€53,917 | -1.7% |
| Equity | 10/15 | -€412,907 | -€503,130 | -€90,223 | -21.9% |
| Contributions | 10/11 | €100,800 | €100,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€513,707 | -€603,930 | -€90,223 | -17.6% |
| Amounts payable | 17/49 | €3,634,035 | €3,670,342 | +€36,306 | +1.0% |
| Amounts payable after more than one year | 17 | €3,628,225 | €3,665,764 | +€37,539 | +1.0% |
| Financial debts | 170/4 | €3,628,225 | €3,665,764 | +€37,539 | +1.0% |
| Amounts payable within one year | 42/48 | €2,610 | €1,378 | -€1,232 | -47.2% |
| Trade debts | 44 | €413 | - | -€413 | |
| Suppliers | 440/4 | €413 | - | -€413 | |
| Taxes, remuneration and social security | 45 | €1,938 | €1,378 | -€560 | -28.9% |
| Taxes | 450/3 | €1,938 | €1,378 | -€560 | -28.9% |
| Other amounts payable | 47/48 | €259 | - | -€259 | |
| Accrued charges and deferred income | 492/3 | €3,200 | €3,200 | = | 0.0% |
| Non-recurring operating income | 76A | - | €25,754 | +€25,754 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,851 | €62,649 | -€7,202 | -10.3% |
| Other operating charges | 640/8 | €6,710 | €6,806 | +€97 | +1.4% |
| Gross operating margin | 9900 | €48,989 | €76,608 | +€27,620 | +56.4% |
| Operating profit (loss) | 9901 | -€27,572 | €7,153 | +€34,725 | |
| Financial income | 75/76B | €9,522 | €24,235 | +€14,713 | +155% |
| Recurring financial income | 75 | €9,522 | €24,235 | +€14,713 | +155% |
| Financial charges | 65/66B | €47,795 | €121,611 | +€73,816 | +154% |
| Recurring financial charges | 65 | €47,795 | €121,611 | +€73,816 | +154% |
| Profit (loss) for the period before taxes | 9903 | -€65,845 | -€90,223 | -€24,378 | -37.0% |
| Profit (loss) for the period | 9904 | -€65,845 | -€90,223 | -€24,378 | -37.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€65,845 | -€90,223 | -€24,378 | -37.0% |
Next steps
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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.