EMCAP: what changed
Two fiscal 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.
EMCAP
Largest movements
- Tangible fixed assets -€83,626
down €83,626 (-12.4%), from €675,975 to €592,349
- Debts after one year -€81,964
down €81,964 (-9.1%), from €896,168 to €814,204
- Profit (loss) carried forward -€16,156
down €16,156 (-2.6%), from -€628,200 to -€644,356
- Other debts +€13,000
up €13,000 (+4.2%), from €306,442 to €319,442
- Gross operating margin +€25,006
up €25,006 (+27.6%), from €90,546 to €115,552
- Financial charges -€2,520
down €2,520 (-7.6%), from €33,011 to €30,490
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 | €678,836 | €596,605 | -€82,231 | -12.1% |
| Fixed assets | 21/28 | €675,975 | €592,349 | -€83,626 | -12.4% |
| Tangible fixed assets | 22/27 | €675,975 | €592,349 | -€83,626 | -12.4% |
| Land and buildings | 22 | €675,975 | €592,349 | -€83,626 | -12.4% |
| Current assets | 29/58 | €2,861 | €4,256 | +€1,395 | +48.8% |
| Cash at bank and in hand | 54/58 | €2,034 | €3,424 | +€1,389 | +68.3% |
| Deferred charges and accrued income | 490/1 | €827 | €832 | +€6 | +0.7% |
| Total equity and liabilities | 10/49 | €678,836 | €596,605 | -€82,231 | -12.1% |
| Equity | 10/15 | -€613,200 | -€629,356 | -€16,156 | -2.6% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€628,200 | -€644,356 | -€16,156 | -2.6% |
| Amounts payable | 17/49 | €1,292,036 | €1,225,961 | -€66,075 | -5.1% |
| Amounts payable after more than one year | 17 | €896,168 | €814,204 | -€81,964 | -9.1% |
| Financial debts | 170/4 | €896,168 | €814,204 | -€81,964 | -9.1% |
| Amounts payable within one year | 42/48 | €386,704 | €402,601 | +€15,896 | +4.1% |
| Current portion of amounts payable after more than one year | 42 | €80,263 | €83,159 | +€2,896 | +3.6% |
| Other amounts payable | 47/48 | €306,442 | €319,442 | +€13,000 | +4.2% |
| Accrued charges and deferred income | 492/3 | €9,164 | €9,157 | -€7 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €83,626 | €83,626 | = | 0.0% |
| Other operating charges | 640/8 | €17,633 | €17,592 | -€42 | -0.2% |
| Gross operating margin | 9900 | €90,546 | €115,552 | +€25,006 | +27.6% |
| Operating profit (loss) | 9901 | -€10,713 | €14,335 | +€25,047 | |
| Financial charges | 65/66B | €33,011 | €30,490 | -€2,520 | -7.6% |
| Recurring financial charges | 65 | €33,011 | €30,490 | -€2,520 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | -€43,723 | -€16,156 | +€27,568 | +63.1% |
| Profit (loss) for the period | 9904 | -€43,723 | -€16,156 | +€27,568 | +63.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€43,723 | -€16,156 | +€27,568 | +63.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.