Embuild Liège: 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.
What changed
Embuild Liège
NACE 58.120, Publishing activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€2.5m
2024 · €261,614+€2.3m
Equity
€6.4m
2024 · €613,353+€5.8m
Cash
€2.4m
2024 · €576,253+€1.8m
Balance sheet total
€8.5m
2024 · €2.5m+€6.0m
Largest movements
Assets
- Current investments +€3.3m
up €3.3m (+828%), from €400,234 to €3.7m
- Cash +€1.8m
up €1.8m (+317%), from €576,253 to €2.4m
mainly Contributions, distributions and other (+€3.3m) and Net result for the year (+€2.5m)
- Tangible fixed assets +€1.3m
up €1.3m (+136%), from €923,281 to €2.2m
of which Assets under construction and advance payments: +€1.2m
- Financial fixed assets -€376,501
down €376,501 (-91.9%), from €409,742 to €33,241
Equity and liabilities
- Contributions +€3.3m
up €3.3m (+3,045%), from €109,073 to €3.4m
- Profit (loss) carried forward +€2.5m
up €2.5m (+499%), from €504,279 to €3.0m
- Accrued charges and deferred income +€111,510
up €111,510 (+609%), from €18,304 to €129,814
Income statement
- Gross operating margin +€2.4m
up €2.4m (+239%), from €981,604 to €3.3m
- Turnover +€1.5m
up €1.5m (+176%), from €848,610 to €2.3m
- Purchases and services +€671,699
up €671,699 (+121%), from €556,628 to €1.2m
- Staff costs +€70,238
up €70,238 (+10.8%), from €648,628 to €718,867
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.
Result 2024
€261,614
Gross operating margin
+€2.4m
Staff costs
-€70,238
Depreciation
-€9,775
Other operating charges
-€18,711
Other operating items
+€25,000
Financial income
-€8,521
Financial charges
-€10,791
Taxes
-€4,857
Result 2025
€2.5m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€2.8m
Investment
-€4.2m
Financing
+€3.3m
Cash 2024
€576,253
From operations (derived)
+€2.8m
Net result for the year
+€2.5m
Depreciation
+€24,292
Receivables within one year
+€17,763
Deferred charges and accrued income
-€2,043
Provisions
+€15,000
Debts within one year
+€72,869
Accrued charges and deferred income
+€111,510
Investment (derived)
-€4.2m
Investment in fixed assets (net)
-€903,004
Current investments
-€3.3m
Financing
+€3.3m
Debts after one year
-€32,644
Contributions, distributions and other
+€3.3m
Cash 2025
€2.4m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,545,634 | €8,548,126 | +€6.0m | +236% |
| Fixed assets | 21/28 | €1,333,023 | €2,211,735 | +€878,712 | +65.9% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €923,281 | €2,178,494 | +€1.3m | +136% |
| Plant, machinery and equipment | 23 | €6,673 | €24,960 | +€18,287 | +274% |
| Furniture and vehicles | 24 | €25,404 | €45,060 | +€19,656 | +77.4% |
| Other tangible fixed assets | 26 | €15,624 | €9,976 | -€5,648 | -36.1% |
| Assets under construction and advance payments | 27 | €875,580 | €2,098,497 | +€1.2m | +140% |
| Financial fixed assets | 28 | €409,742 | €33,241 | -€376,501 | -91.9% |
| Current assets | 29/58 | €1,212,612 | €6,336,391 | +€5.1m | +423% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €236,125 | €218,363 | -€17,763 | -7.5% |
| Trade receivables | 40 | €234,299 | €214,457 | -€19,842 | -8.5% |
| Other amounts receivable | 41 | €1,827 | €3,906 | +€2,080 | +114% |
| Current investments | 50/53 | €400,234 | €3,714,266 | +€3.3m | +828% |
| Cash at bank and in hand | 54/58 | €576,253 | €2,401,719 | +€1.8m | +317% |
| Deferred charges and accrued income | 490/1 | €0 | €2,043 | +€2,043 | |
| Total equity and liabilities | 10/49 | €2,545,634 | €8,548,126 | +€6.0m | +236% |
| Equity | 10/15 | €613,353 | €6,449,108 | +€5.8m | +951% |
| Contributions | 10/11 | €109,073 | €3,430,382 | +€3.3m | +3,045% |
| Capital | 10 | €109,073 | €3,430,382 | +€3.3m | +3,045% |
| Profit (loss) carried forward | 14 | €504,279 | €3,018,727 | +€2.5m | +499% |
| Provisions and deferred taxes | 16 | €1,040,355 | €1,055,355 | +€15,000 | +1.4% |
| Provisions for liabilities and charges | 160/5 | €1,040,355 | €1,055,355 | +€15,000 | +1.4% |
| Major repairs and maintenance | 162 | €900,000 | €900,000 | = | 0.0% |
| Environmental obligations | 163 | €0 | - | = | |
| Other liabilities and charges | 164/5 | €140,355 | €155,355 | +€15,000 | +10.7% |
| Amounts payable | 17/49 | €891,927 | €1,043,663 | +€151,735 | +17.0% |
| Amounts payable after more than one year | 17 | €708,982 | €676,338 | -€32,644 | -4.6% |
| Financial debts | 170/4 | €553,151 | €520,507 | -€32,644 | -5.9% |
| Other amounts payable | 178/9 | €155,831 | €155,831 | = | 0.0% |
| Amounts payable within one year | 42/48 | €164,641 | €237,511 | +€72,869 | +44.3% |
| Current portion of amounts payable after more than one year | 42 | €31,524 | €32,644 | +€1,121 | +3.6% |
| Trade debts | 44 | €32,028 | €114,661 | +€82,633 | +258% |
| Suppliers | 440/4 | €32,028 | €114,661 | +€82,633 | +258% |
| Taxes, remuneration and social security | 45 | €86,595 | €89,985 | +€3,390 | +3.9% |
| Taxes | 450/3 | €16,008 | €16,629 | +€622 | +3.9% |
| Remuneration and social security | 454/9 | €70,588 | €73,356 | +€2,768 | +3.9% |
| Accrued charges and deferred income | 492/3 | €18,304 | €129,814 | +€111,510 | +609% |
| Turnover | 70 | €848,610 | €2,340,724 | +€1.5m | +176% |
| Membership fees, donations, legacies and grants | 73 | €284,004 | - | -€284,004 | |
| Non-recurring operating income | 76A | €0 | €2,219,933 | +€2.2m | |
| Goods, raw materials, services and sundry goods | 60/61 | €556,628 | €1,228,327 | +€671,699 | +121% |
| Remuneration, social security and pensions | 62 | €648,628 | €718,867 | +€70,238 | +10.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,517 | €24,292 | +€9,775 | +67.3% |
| Other operating charges | 640/8 | €3,539 | €22,250 | +€18,711 | +529% |
| Gross operating margin | 9900 | €981,604 | €3,332,330 | +€2.4m | +239% |
| Operating profit (loss) | 9901 | €274,920 | €2,551,921 | +€2.3m | +828% |
| Financial income | 75/76B | €34,164 | €25,643 | -€8,521 | -24.9% |
| Recurring financial income | 75 | €34,164 | €25,643 | -€8,521 | -24.9% |
| Financial charges | 65/66B | €12,180 | €22,970 | +€10,791 | +88.6% |
| Recurring financial charges | 65 | €12,180 | €22,970 | +€10,791 | +88.6% |
| Profit (loss) for the period before taxes | 9903 | €296,905 | €2,554,594 | +€2.3m | +760% |
| Income taxes | 67/77 | €35,290 | €40,147 | +€4,857 | +13.8% |
| Profit (loss) for the period | 9904 | €261,614 | €2,514,447 | +€2.3m | +861% |
| Profit (loss) for the period to be appropriated | 9905 | €261,614 | €2,514,447 | +€2.3m | +861% |
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 20 October 2026 via checked.be.