EMD Elektriciteit: 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.
EMD Elektriciteit
Largest movements
- Receivables within one year +€38,912
up €38,912 (+181%), from €21,458 to €60,370
of which Trade receivables: +€32,035
- Cash -€28,261
down €28,261 (-62.7%), from €45,050 to €16,789
mainly Receivables within one year (-€38,912) and Contributions, distributions and other (-€17,647)
- Stocks and contracts -€12,773
down €12,773 (-77.0%), from €16,587 to €3,814
of which Stocks: -€12,773
- Tangible fixed assets -€10,024
down €10,024 (-40.1%), from €25,007 to €14,984
- Intangible fixed assets -€2,442
down €2,442 (-100%), from €2,442 to €0
- Profit (loss) carried forward -€23,146
down €23,146 (-31.9%), from €72,529 to €49,383
- Trade debts +€13,303
up €13,303 (+73.7%), from €18,060 to €31,363
- Debts after one year -€5,711
down €5,711 (-26.9%), from €21,201 to €15,489
- Tax, wage and social debts +€2,467
up €2,467 (+25.0%), from €9,869 to €12,336
of which Remuneration and social security: +€1,965
- Gross operating margin -€34,305
down €34,305 (-39.4%), from €87,093 to €52,787
- Taxes -€5,939
down €5,939 (-100%), from €5,939 to €0
- Staff costs -€4,063
down €4,063 (-8.3%), from €48,859 to €44,797
- Other operating charges -€1,050
down €1,050 (-47.4%), from €2,216 to €1,166
- Financial charges -€966
down €966 (-38.8%), from €2,490 to €1,524
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 | €132,298 | €119,453 | -€12,845 | -9.7% |
| Fixed assets | 21/28 | €28,649 | €16,184 | -€12,466 | -43.5% |
| Intangible fixed assets | 21 | €2,442 | €0 | -€2,442 | -100% |
| Tangible fixed assets | 22/27 | €25,007 | €14,984 | -€10,024 | -40.1% |
| Plant, machinery and equipment | 23 | €7,699 | €4,089 | -€3,609 | -46.9% |
| Furniture and vehicles | 24 | €13,689 | €10,517 | -€3,171 | -23.2% |
| Other tangible fixed assets | 26 | €3,620 | €377 | -€3,243 | -89.6% |
| Financial fixed assets | 28 | €1,200 | €1,200 | = | 0.0% |
| Current assets | 29/58 | €103,649 | €103,269 | -€380 | -0.4% |
| Amounts receivable after more than one year | 29 | €20,168 | €20,168 | = | 0.0% |
| Other amounts receivable | 291 | €20,168 | €20,168 | = | 0.0% |
| Stocks and contracts in progress | 3 | €16,587 | €3,814 | -€12,773 | -77.0% |
| Stocks | 30/36 | €16,587 | €3,814 | -€12,773 | -77.0% |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €21,458 | €60,370 | +€38,912 | +181% |
| Trade receivables | 40 | €15,739 | €47,774 | +€32,035 | +204% |
| Other amounts receivable | 41 | €5,719 | €12,596 | +€6,877 | +120% |
| Cash at bank and in hand | 54/58 | €45,050 | €16,789 | -€28,261 | -62.7% |
| Deferred charges and accrued income | 490/1 | €386 | €2,129 | +€1,743 | +451% |
| Total equity and liabilities | 10/49 | €132,298 | €119,453 | -€12,845 | -9.7% |
| Equity | 10/15 | €77,529 | €54,383 | -€23,146 | -29.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €72,529 | €49,383 | -€23,146 | -31.9% |
| Amounts payable | 17/49 | €54,769 | €65,070 | +€10,301 | +18.8% |
| Amounts payable after more than one year | 17 | €21,201 | €15,489 | -€5,711 | -26.9% |
| Financial debts | 170/4 | €21,201 | €15,489 | -€5,711 | -26.9% |
| Amounts payable within one year | 42/48 | €33,569 | €49,581 | +€16,012 | +47.7% |
| Current portion of amounts payable after more than one year | 42 | €5,505 | €5,711 | +€206 | +3.7% |
| Financial debts | 43 | €135 | €171 | +€36 | +26.5% |
| Credit institutions | 430/8 | €135 | €171 | +€36 | +26.5% |
| Trade debts | 44 | €18,060 | €31,363 | +€13,303 | +73.7% |
| Suppliers | 440/4 | €18,060 | €31,363 | +€13,303 | +73.7% |
| Taxes, remuneration and social security | 45 | €9,869 | €12,336 | +€2,467 | +25.0% |
| Taxes | 450/3 | €6,993 | €7,496 | +€503 | +7.2% |
| Remuneration and social security | 454/9 | €2,875 | €4,840 | +€1,965 | +68.3% |
| Remuneration, social security and pensions | 62 | €48,859 | €44,797 | -€4,063 | -8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,180 | €14,090 | +€910 | +6.9% |
| Other operating charges | 640/8 | €2,216 | €1,166 | -€1,050 | -47.4% |
| Gross operating margin | 9900 | €87,093 | €52,787 | -€34,305 | -39.4% |
| Operating profit (loss) | 9901 | €22,837 | -€7,266 | -€30,102 | |
| Financial income | 75/76B | €3,331 | €3,290 | -€40 | -1.2% |
| Recurring financial income | 75 | €3,331 | €3,290 | -€40 | -1.2% |
| Financial charges | 65/66B | €2,490 | €1,524 | -€966 | -38.8% |
| Recurring financial charges | 65 | €2,490 | €1,524 | -€966 | -38.8% |
| Profit (loss) for the period before taxes | 9903 | €23,677 | -€5,499 | -€29,176 | |
| Income taxes | 67/77 | €5,939 | €0 | -€5,939 | -100% |
| Profit (loss) for the period | 9904 | €17,738 | -€5,499 | -€23,237 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,738 | -€5,499 | -€23,237 |
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.