EMELDIMA: 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.
EMELDIMA
Largest movements
- Tangible fixed assets +€2.5m
up €2.5m (+315.6%), from €776,896 to €3.2m
of which Land and buildings: +€2.5m
- Revaluation surpluses +€2.5m
new in 2025: €2.5m
- Debts after one year -€62,544
down €62,544 (-32.2%), from €194,004 to €131,460
of which Other amounts payable: -€136,350
- Other debts +€46,870
up €46,870 (+13.3%), from €353,211 to €400,081
- Gross operating margin +€18,211
up €18,211 (+29.8%), from €61,194 to €79,405
- Depreciation +€4,356
up €4,356 (+7.6%), from €57,327 to €61,683
- Financial charges +€4,107
up €4,107 (+109.3%), from €3,757 to €7,863
- Other operating charges +€3,621
up €3,621 (+33.8%), from €10,724 to €14,345
- Taxes +€1,259
up €1,259 (+106.8%), from €1,179 to €2,438
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 | €782,171 | €3,234,826 | +€2.5m | +313.6% |
| Fixed assets | 21/28 | €776,896 | €3,228,912 | +€2.5m | +315.6% |
| Tangible fixed assets | 22/27 | €776,896 | €3,228,912 | +€2.5m | +315.6% |
| Land and buildings | 22 | €762,341 | €3,222,260 | +€2.5m | +322.7% |
| Plant, machinery and equipment | 23 | - | €54 | +€54 | |
| Furniture and vehicles | 24 | €14,556 | €6,597 | -€7,958 | -54.7% |
| Current assets | 29/58 | €5,274 | €5,914 | +€640 | +12.1% |
| Amounts receivable within one year | 40/41 | €1,373 | €1,250 | -€123 | -8.9% |
| Other amounts receivable | 41 | €1,373 | €1,250 | -€123 | -8.9% |
| Cash at bank and in hand | 54/58 | €1,153 | €2,089 | +€936 | +81.2% |
| Deferred charges and accrued income | 490/1 | €2,749 | €2,576 | -€173 | -6.3% |
| Total equity and liabilities | 10/49 | €782,171 | €3,234,826 | +€2.5m | +313.6% |
| Equity | 10/15 | €183,659 | €2,654,642 | +€2.5m | +1345.4% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Outside capital | 11 | €61,500 | €61,500 | = | 0.0% |
| Other | 1109/19 | €61,500 | €61,500 | = | 0.0% |
| Revaluation surpluses | 12 | - | €2,475,524 | +€2.5m | |
| Reserves | 13 | €108,622 | €104,003 | -€4,619 | -4.3% |
| Non-distributable reserves | 130/1 | €9,192 | €9,192 | = | 0.0% |
| Legal reserve | 130 | €9,192 | €9,192 | = | 0.0% |
| Tax-exempt reserves | 132 | €9,649 | €5,030 | -€4,619 | -47.9% |
| Distributable reserves | 133 | €89,780 | €89,780 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,537 | €13,615 | +€78 | +0.6% |
| Provisions and deferred taxes | 16 | €2,945 | €567 | -€2,379 | -80.8% |
| Deferred taxes | 168 | €2,945 | €567 | -€2,379 | -80.8% |
| Amounts payable | 17/49 | €595,566 | €579,618 | -€15,948 | -2.7% |
| Amounts payable after more than one year | 17 | €194,004 | €131,460 | -€62,544 | -32.2% |
| Financial debts | 170/4 | €57,654 | €131,460 | +€73,806 | +128.0% |
| Other amounts payable | 178/9 | €136,350 | - | -€136,350 | |
| Amounts payable within one year | 42/48 | €389,456 | €448,158 | +€58,701 | +15.1% |
| Current portion of amounts payable after more than one year | 42 | €34,201 | €42,923 | +€8,722 | +25.5% |
| Trade debts | 44 | €867 | €1,027 | +€160 | +18.5% |
| Suppliers | 440/4 | €867 | €1,027 | +€160 | +18.5% |
| Taxes, remuneration and social security | 45 | €1,177 | €4,127 | +€2,950 | +250.6% |
| Taxes | 450/3 | €1,177 | €4,127 | +€2,950 | +250.6% |
| Other amounts payable | 47/48 | €353,211 | €400,081 | +€46,870 | +13.3% |
| Accrued charges and deferred income | 492/3 | €12,106 | - | -€12,106 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,327 | €61,683 | +€4,356 | +7.6% |
| Other operating charges | 640/8 | €10,724 | €14,345 | +€3,621 | +33.8% |
| Gross operating margin | 9900 | €61,194 | €79,405 | +€18,211 | +29.8% |
| Operating profit (loss) | 9901 | -€6,857 | €3,377 | +€10,234 | |
| Financial income | 75/76B | €7 | €4 | -€3 | -39.1% |
| Recurring financial income | 75 | €7 | €4 | -€3 | -39.1% |
| Financial charges | 65/66B | €3,757 | €7,863 | +€4,107 | +109.3% |
| Recurring financial charges | 65 | €3,757 | €7,863 | +€4,107 | +109.3% |
| Profit (loss) for the period before taxes | 9903 | -€10,607 | -€4,482 | +€6,125 | +57.7% |
| Transfer from deferred taxes | 780 | €2,379 | €2,379 | = | 0.0% |
| Income taxes | 67/77 | €1,179 | €2,438 | +€1,259 | +106.8% |
| Profit (loss) for the period | 9904 | -€9,408 | -€4,542 | +€4,866 | +51.7% |
| Transfer from tax-exempt reserves | 789 | €4,619 | €4,619 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,788 | €78 | +€4,866 |
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 29 September 2026 via checked.be.