EMCODIS: 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.
EMCODIS
Largest movements
- Cash +€61,639
up €61,639 (+69.1%), from €89,146 to €150,785
mainly Net result for the year (+€47,256) and Receivables within one year (+€31,151)
- Receivables within one year -€31,151
down €31,151 (-74.8%), from €41,624 to €10,473
of which Trade receivables: -€23,900
- Tangible fixed assets -€13,214
down €13,214 (-9.0%), from €147,472 to €134,257
of which Other tangible fixed assets: -€11,497
- Reserves +€22,420
up €22,420 (+16.6%), from €135,380 to €157,800
of which Distributable reserves: +€151,600
- Tax, wage and social debts -€20,708
down €20,708 (-37.2%), from €55,722 to €35,014
- Other debts +€16,830
up €16,830 (+144%), from €11,712 to €28,543
- Turnover -€127,900
no longer reported in 2025 (was €127,900)
- Gross operating margin -€22,427
down €22,427 (-19.6%), from €114,579 to €92,151
- Purchases and services -€16,808
no longer reported in 2025 (was €16,808)
- Taxes -€8,289
down €8,289 (-26.5%), from €31,283 to €22,995
- Depreciation -€2,336
down €2,336 (-13.0%), from €17,979 to €15,643
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 | €278,855 | €296,477 | +€17,622 | +6.3% |
| Fixed assets | 21/28 | €147,472 | €134,257 | -€13,214 | -9.0% |
| Tangible fixed assets | 22/27 | €147,472 | €134,257 | -€13,214 | -9.0% |
| Plant, machinery and equipment | 23 | €2,440 | €1,729 | -€711 | -29.1% |
| Furniture and vehicles | 24 | €7,385 | €6,378 | -€1,006 | -13.6% |
| Other tangible fixed assets | 26 | €137,647 | €126,150 | -€11,497 | -8.4% |
| Current assets | 29/58 | €131,383 | €162,220 | +€30,837 | +23.5% |
| Amounts receivable within one year | 40/41 | €41,624 | €10,473 | -€31,151 | -74.8% |
| Trade receivables | 40 | €34,373 | €10,473 | -€23,900 | -69.5% |
| Other amounts receivable | 41 | €7,251 | - | -€7,251 | |
| Cash at bank and in hand | 54/58 | €89,146 | €150,785 | +€61,639 | +69.1% |
| Deferred charges and accrued income | 490/1 | €614 | €962 | +€348 | +56.8% |
| Total equity and liabilities | 10/49 | €278,855 | €296,477 | +€17,622 | +6.3% |
| Equity | 10/15 | €211,021 | €232,609 | +€21,587 | +10.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €135,380 | €157,800 | +€22,420 | +16.6% |
| Non-distributable reserves | 130/1 | €135,380 | €6,200 | -€129,180 | -95.4% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Other | 1319 | €129,180 | - | -€129,180 | |
| Distributable reserves | 133 | - | €151,600 | +€151,600 | |
| Profit (loss) carried forward | 14 | €13,641 | €12,808 | -€833 | -6.1% |
| Amounts payable | 17/49 | €67,834 | €63,869 | -€3,965 | -5.8% |
| Amounts payable within one year | 42/48 | €67,834 | €63,869 | -€3,965 | -5.8% |
| Trade debts | 44 | €399 | €312 | -€87 | -21.8% |
| Suppliers | 440/4 | €399 | €312 | -€87 | -21.8% |
| Taxes, remuneration and social security | 45 | €55,722 | €35,014 | -€20,708 | -37.2% |
| Taxes | 450/3 | €55,722 | €35,014 | -€20,708 | -37.2% |
| Other amounts payable | 47/48 | €11,712 | €28,543 | +€16,830 | +144% |
| Turnover | 70 | €127,900 | - | -€127,900 | |
| Goods, raw materials, services and sundry goods | 60/61 | €16,808 | - | -€16,808 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,979 | €15,643 | -€2,336 | -13.0% |
| Other operating charges | 640/8 | €3,516 | €4,051 | +€536 | +15.2% |
| Non-recurring operating charges | 66A | - | €1,487 | +€1,487 | |
| Gross operating margin | 9900 | €114,579 | €92,151 | -€22,427 | -19.6% |
| Operating profit (loss) | 9901 | €93,084 | €70,970 | -€22,114 | -23.8% |
| Financial income | 75/76B | €32 | - | -€32 | |
| Recurring financial income | 75 | €32 | - | -€32 | |
| Financial charges | 65/66B | €664 | €719 | +€55 | +8.3% |
| Recurring financial charges | 65 | €664 | €719 | +€55 | +8.3% |
| Profit (loss) for the period before taxes | 9903 | €92,451 | €70,250 | -€22,201 | -24.0% |
| Income taxes | 67/77 | €31,283 | €22,995 | -€8,289 | -26.5% |
| Profit (loss) for the period | 9904 | €61,168 | €47,256 | -€13,912 | -22.7% |
| Profit (loss) for the period to be appropriated | 9905 | €61,168 | €47,256 | -€13,912 | -22.7% |
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 19 October 2026 via checked.be.