EMCA: 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.
EMCA
Largest movements
- Deferred charges and accrued income +€31,520
up €31,520 (+2,484%), from €1,269 to €32,790
- Cash -€19,719
down €19,719 (-45.4%), from €43,478 to €23,759
mainly Deferred charges and accrued income (-€31,520) and Receivables within one year (-€17,454)
- Receivables within one year +€17,454
up €17,454 (+73.9%), from €23,607 to €41,061
of which Trade receivables: +€17,953
- Other debts +€29,184
up €29,184 (+26,493%), from €110 to €29,295
- Tax, wage and social debts -€8,613
down €8,613 (-96.5%), from €8,927 to €314
- Profit (loss) carried forward +€6,341
up €6,341 (+9.9%), from €64,293 to €70,634
- Trade debts +€1,686
up €1,686 (+96.2%), from €1,752 to €3,438
- Depreciation -€865
down €865 (-19.9%), from €4,354 to €3,489
- Gross operating margin +€456
up €456 (+3.4%), from €13,244 to €13,700
- Taxes +€327
up €327 (+13.4%), from €2,436 to €2,763
- Other operating charges +€303
up €303 (+43.6%), from €694 to €996
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 | €77,583 | €106,181 | +€28,598 | +36.9% |
| Fixed assets | 21/28 | €9,228 | €8,571 | -€657 | -7.1% |
| Tangible fixed assets | 22/27 | €9,228 | €8,571 | -€657 | -7.1% |
| Furniture and vehicles | 24 | €4,148 | €1,547 | -€2,601 | -62.7% |
| Other tangible fixed assets | 26 | €5,081 | €7,024 | +€1,944 | +38.3% |
| Current assets | 29/58 | €68,354 | €97,610 | +€29,255 | +42.8% |
| Amounts receivable within one year | 40/41 | €23,607 | €41,061 | +€17,454 | +73.9% |
| Trade receivables | 40 | €18,150 | €36,103 | +€17,953 | +98.9% |
| Other amounts receivable | 41 | €5,457 | €4,958 | -€499 | -9.1% |
| Cash at bank and in hand | 54/58 | €43,478 | €23,759 | -€19,719 | -45.4% |
| Deferred charges and accrued income | 490/1 | €1,269 | €32,790 | +€31,520 | +2,484% |
| Total equity and liabilities | 10/49 | €77,583 | €106,181 | +€28,598 | +36.9% |
| Equity | 10/15 | €66,793 | €73,134 | +€6,341 | +9.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €64,293 | €70,634 | +€6,341 | +9.9% |
| Amounts payable | 17/49 | €10,789 | €33,047 | +€22,258 | +206% |
| Amounts payable within one year | 42/48 | €10,789 | €33,047 | +€22,258 | +206% |
| Trade debts | 44 | €1,752 | €3,438 | +€1,686 | +96.2% |
| Suppliers | 440/4 | €1,752 | €3,438 | +€1,686 | +96.2% |
| Taxes, remuneration and social security | 45 | €8,927 | €314 | -€8,613 | -96.5% |
| Taxes | 450/3 | €8,927 | €314 | -€8,613 | -96.5% |
| Other amounts payable | 47/48 | €110 | €29,295 | +€29,184 | +26,493% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,354 | €3,489 | -€865 | -19.9% |
| Other operating charges | 640/8 | €694 | €996 | +€303 | +43.6% |
| Gross operating margin | 9900 | €13,244 | €13,700 | +€456 | +3.4% |
| Operating profit (loss) | 9901 | €8,196 | €9,214 | +€1,018 | +12.4% |
| Financial income | 75/76B | €6 | €0 | -€6 | -99.7% |
| Recurring financial income | 75 | €6 | €0 | -€6 | -99.7% |
| Financial charges | 65/66B | €98 | €110 | +€13 | +12.8% |
| Recurring financial charges | 65 | €98 | €110 | +€13 | +12.8% |
| Profit (loss) for the period before taxes | 9903 | €8,104 | €9,104 | +€999 | +12.3% |
| Income taxes | 67/77 | €2,436 | €2,763 | +€327 | +13.4% |
| Profit (loss) for the period | 9904 | €5,668 | €6,341 | +€672 | +11.9% |
| Profit (loss) for the period to be appropriated | 9905 | €5,668 | €6,341 | +€672 | +11.9% |
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 13 October 2026 via checked.be.