EMC: 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.
EMC
Largest movements
- Cash -€23,846
down €23,846 (-94.1%), from €25,349 to €1,504
mainly Net result for the year (-€66,295) and Debts after one year (-€21,534)
- Tangible fixed assets -€19,726
down €19,726 (-16.2%), from €121,481 to €101,755
of which Land and buildings: -€14,655
- Stocks and contracts -€17,680
down €17,680 (-63.2%), from €27,979 to €10,299
- Deferred charges and accrued income -€2,703
down €2,703 (-75.0%), from €3,605 to €902
- Receivables within one year +€2,604
up €2,604 (+23.4%), from €11,150 to €13,754
of which Trade receivables: +€3,923
- Profit (loss) carried forward -€66,295
down €66,295 (-104.0%), from -€63,756 to -€130,052
- Short-term financial debts +€28,995
new in 2025: €28,995
- Debts after one year -€21,534
down €21,534 (-13.4%), from €160,834 to €139,300
- Trade debts -€3,861
down €3,861 (-44.9%), from €8,605 to €4,744
of which Bills of exchange payable: -€4,089
- Tax, wage and social debts +€2,211
up €2,211 (+33146.2%), from €7 to €2,218
- Gross operating margin -€31,619
down €31,619 (-517.4%), from -€6,111 to -€37,730
- Financial charges -€1,504
down €1,504 (-16.8%), from €8,958 to €7,454
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.
Cash bridge derived
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 | €190,472 | €128,521 | -€61,950 | -32.5% |
| Fixed assets | 21/28 | €122,389 | €102,063 | -€20,326 | -16.6% |
| Tangible fixed assets | 22/27 | €121,481 | €101,755 | -€19,726 | -16.2% |
| Land and buildings | 22 | €93,187 | €78,531 | -€14,655 | -15.7% |
| Plant, machinery and equipment | 23 | €27,485 | €23,081 | -€4,404 | -16.0% |
| Furniture and vehicles | 24 | €809 | €142 | -€667 | -82.4% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €909 | €309 | -€600 | -66.0% |
| Current assets | 29/58 | €68,082 | €26,458 | -€41,624 | -61.1% |
| Stocks and contracts in progress | 3 | €27,979 | €10,299 | -€17,680 | -63.2% |
| Stocks | 30/36 | €27,979 | €10,299 | -€17,680 | -63.2% |
| Amounts receivable within one year | 40/41 | €11,150 | €13,754 | +€2,604 | +23.4% |
| Trade receivables | 40 | €28 | €3,951 | +€3,923 | +14214.0% |
| Other amounts receivable | 41 | €11,122 | €9,803 | -€1,319 | -11.9% |
| Cash at bank and in hand | 54/58 | €25,349 | €1,504 | -€23,846 | -94.1% |
| Deferred charges and accrued income | 490/1 | €3,605 | €902 | -€2,703 | -75.0% |
| Total equity and liabilities | 10/49 | €190,472 | €128,521 | -€61,950 | -32.5% |
| Equity | 10/15 | -€3,080 | -€70,227 | -€67,147 | -2180.4% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €5,566 | €5,566 | = | 0.0% |
| Non-distributable reserves | 130/1 | €278 | €278 | = | 0.0% |
| Reserves not available under the articles | 1311 | €278 | €278 | = | 0.0% |
| Distributable reserves | 133 | €5,288 | €5,288 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€63,756 | -€130,052 | -€66,295 | -104.0% |
| Investment grants | 15 | €5,110 | €4,259 | -€852 | -16.7% |
| Amounts payable | 17/49 | €193,551 | €198,748 | +€5,197 | +2.7% |
| Amounts payable after more than one year | 17 | €160,834 | €139,300 | -€21,534 | -13.4% |
| Financial debts | 170/4 | €160,834 | €139,300 | -€21,534 | -13.4% |
| Amounts payable within one year | 42/48 | €30,760 | €57,491 | +€26,731 | +86.9% |
| Current portion of amounts payable after more than one year | 42 | €20,759 | €21,534 | +€775 | +3.7% |
| Financial debts | 43 | - | €28,995 | +€28,995 | |
| Credit institutions | 430/8 | - | €28,995 | +€28,995 | |
| Trade debts | 44 | €8,605 | €4,744 | -€3,861 | -44.9% |
| Suppliers | 440/4 | €4,516 | €4,744 | +€228 | +5.0% |
| Bills of exchange payable | 441 | €4,089 | €0 | -€4,089 | -100.0% |
| Taxes, remuneration and social security | 45 | €7 | €2,218 | +€2,211 | +33146.2% |
| Taxes | 450/3 | €7 | €2,218 | +€2,211 | +33146.2% |
| Other amounts payable | 47/48 | €1,388 | €0 | -€1,388 | -100.0% |
| Accrued charges and deferred income | 492/3 | €1,958 | €1,958 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,897 | €19,726 | -€171 | -0.9% |
| Other operating charges | 640/8 | €2,203 | €2,273 | +€70 | +3.2% |
| Gross operating margin | 9900 | -€6,111 | -€37,730 | -€31,619 | -517.4% |
| Operating profit (loss) | 9901 | -€28,211 | -€59,729 | -€31,518 | -111.7% |
| Financial income | 75/76B | €959 | €888 | -€71 | -7.4% |
| Recurring financial income | 75 | €959 | €888 | -€71 | -7.4% |
| Financial charges | 65/66B | €8,958 | €7,454 | -€1,504 | -16.8% |
| Recurring financial charges | 65 | €8,958 | €7,454 | -€1,504 | -16.8% |
| Profit (loss) for the period before taxes | 9903 | -€36,210 | -€66,295 | -€30,085 | -83.1% |
| Profit (loss) for the period | 9904 | -€36,210 | -€66,295 | -€30,085 | -83.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€36,210 | -€66,295 | -€30,085 | -83.1% |
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 10 October 2026 via checked.be.