EMCO-BELGIUM: 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.
EMCO-BELGIUM
Largest movements
- Cash +€42,822
up €42,822 (+56.4%), from €75,877 to €118,699
mainly Net result for the year (+€71,580) and Depreciation (+€21,607)
- Tangible fixed assets -€20,570
down €20,570 (-31.9%), from €64,548 to €43,977
of which Furniture and vehicles: -€14,570
- Profit (loss) carried forward +€36,580
up €36,580 (+45.7%), from €79,978 to €116,559
- Debts after one year -€22,355
down €22,355 (-56.8%), from €39,350 to €16,995
- Tax, wage and social debts +€7,974
up €7,974 (+1,658%), from €481 to €8,455
- Gross operating margin +€29,679
up €29,679 (+34.7%), from €85,512 to €115,190
- Depreciation +€5,290
up €5,290 (+32.4%), from €16,316 to €21,607
- Taxes +€4,730
up €4,730 (+33.7%), from €14,038 to €18,768
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 | €144,448 | €166,964 | +€22,516 | +15.6% |
| Fixed assets | 21/28 | €64,548 | €43,977 | -€20,570 | -31.9% |
| Tangible fixed assets | 22/27 | €64,548 | €43,977 | -€20,570 | -31.9% |
| Plant, machinery and equipment | 23 | €29,311 | €23,311 | -€6,000 | -20.5% |
| Furniture and vehicles | 24 | €35,236 | €20,666 | -€14,570 | -41.4% |
| Current assets | 29/58 | €79,900 | €122,986 | +€43,086 | +53.9% |
| Amounts receivable within one year | 40/41 | €683 | €889 | +€206 | +30.2% |
| Other amounts receivable | 41 | €683 | €889 | +€206 | +30.2% |
| Cash at bank and in hand | 54/58 | €75,877 | €118,699 | +€42,822 | +56.4% |
| Deferred charges and accrued income | 490/1 | €3,340 | €3,398 | +€58 | +1.7% |
| Total equity and liabilities | 10/49 | €144,448 | €166,964 | +€22,516 | +15.6% |
| Equity | 10/15 | €82,478 | €119,059 | +€36,580 | +44.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €79,978 | €116,559 | +€36,580 | +45.7% |
| Amounts payable | 17/49 | €61,969 | €47,905 | -€14,065 | -22.7% |
| Amounts payable after more than one year | 17 | €39,350 | €16,995 | -€22,355 | -56.8% |
| Financial debts | 170/4 | €39,350 | €16,995 | -€22,355 | -56.8% |
| Amounts payable within one year | 42/48 | €22,620 | €30,910 | +€8,290 | +36.6% |
| Current portion of amounts payable after more than one year | 42 | €21,551 | €22,355 | +€804 | +3.7% |
| Trade debts | 44 | €588 | €100 | -€488 | -83.0% |
| Suppliers | 440/4 | €588 | €100 | -€488 | -83.0% |
| Taxes, remuneration and social security | 45 | €481 | €8,455 | +€7,974 | +1,658% |
| Taxes | 450/3 | €481 | €8,455 | +€7,974 | +1,658% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,316 | €21,607 | +€5,290 | +32.4% |
| Other operating charges | 640/8 | €1,615 | €1,039 | -€576 | -35.7% |
| Gross operating margin | 9900 | €85,512 | €115,190 | +€29,679 | +34.7% |
| Operating profit (loss) | 9901 | €67,580 | €92,544 | +€24,964 | +36.9% |
| Financial income | 75/76B | €55 | €0 | -€55 | -100.0% |
| Recurring financial income | 75 | €55 | €0 | -€55 | -100.0% |
| Financial charges | 65/66B | €1,237 | €2,196 | +€959 | +77.6% |
| Recurring financial charges | 65 | €1,237 | €2,196 | +€959 | +77.6% |
| Profit (loss) for the period before taxes | 9903 | €66,399 | €90,349 | +€23,950 | +36.1% |
| Income taxes | 67/77 | €14,038 | €18,768 | +€4,730 | +33.7% |
| Profit (loss) for the period | 9904 | €52,360 | €71,580 | +€19,220 | +36.7% |
| Profit (loss) for the period to be appropriated | 9905 | €52,360 | €71,580 | +€19,220 | +36.7% |
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 26 October 2026 via checked.be.