Emelia: 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.
What changed
Emelia
NACE 70.200, Business and other management consultancy
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€615,588
2024 · €580,452+€35,137
Equity
€2.8m
2024 · €1.5m+€1.3m
Cash
€596,802
2024 · €1.1m-€539,007
Balance sheet total
€5.7m
2024 · €3.6m+€2.1m
Largest movements
Assets
- Tangible fixed assets +€1.4m
up €1.4m (+503.9%), from €277,964 to €1.7m
of which Other tangible fixed assets: +€1.2m
- Cash -€539,007
down €539,007 (-47.5%), from €1.1m to €596,802
mainly Investment in fixed assets (net) (-€1.6m) and Current investments (-€500,000)
- Current investments +€500,000
up €500,000, from €0 to €500,000
- Stocks and contracts +€388,148
up €388,148 (+248.9%), from €155,949 to €544,097
- Receivables within one year +€306,687
up €306,687 (+19.9%), from €1.5m to €1.8m
of which Trade receivables: +€253,384
Equity and liabilities
- Reserves +€1.3m
up €1.3m (+100.2%), from €1.3m to €2.5m
of which Distributable reserves: +€1.3m
- Debts after one year +€993,742
up €993,742 (+767.4%), from €129,500 to €1.1m
- Other debts -€400,000
down €400,000 (-100.0%), from €400,000 to €0
- Tax, wage and social debts +€222,640
up €222,640 (+32.0%), from €696,636 to €919,275
of which Remuneration and social security: +€207,098
- Short-term financial debts +€112,500
up €112,500 (+36.4%), from €309,000 to €421,500
Income statement
- Gross operating margin +€1.1m
up €1.1m (+21.7%), from €5.3m to €6.4m
- Staff costs +€978,917
up €978,917 (+23.0%), from €4.3m to €5.2m
- Depreciation +€91,742
up €91,742 (+116.8%), from €78,545 to €170,288
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.
Result 2024
€580,452
Gross operating margin
+€1.1m
Staff costs
-€978,917
Depreciation
-€91,742
Write-downs
-€12,573
Other operating charges
+€306
Other operating items
-€586
Financial income
+€3,362
Financial charges
-€30,494
Taxes
+€4,197
Result 2025
€615,588
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.
From operations
-€286,259
Investment
-€2.1m
Financing
+€1.9m
Cash 2024
€1.1m
From operations (derived)
-€286,259
Net result for the year
+€615,588
Depreciation
+€170,288
Receivables after one year
+€67,930
Stocks and contracts
-€388,148
Receivables within one year
-€306,687
Deferred charges and accrued income
-€99,541
Provisions
-€1,103
Trade debts
-€86,385
Tax, wage and social debts
+€222,640
Other debts
-€400,000
Accrued charges and deferred income
-€80,840
Investment (derived)
-€2.1m
Investment in fixed assets (net)
-€1.6m
Current investments
-€500,000
Financing
+€1.9m
Debts after one year
+€993,742
Current portion of long-term debt
+€98,100
Short-term financial debts
+€112,500
Contributions, distributions and other
+€671,023
Cash 2025
€596,802
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,596,432 | €5,741,697 | +€2.1m | +59.6% |
| Formation expenses | 20 | €45,995 | €59,512 | +€13,517 | +29.4% |
| Fixed assets | 21/28 | €328,215 | €1,772,525 | +€1.4m | +440.0% |
| Intangible fixed assets | 21 | €49,801 | €92,557 | +€42,756 | +85.9% |
| Tangible fixed assets | 22/27 | €277,964 | €1,678,677 | +€1.4m | +503.9% |
| Land and buildings | 22 | €226,602 | €205,369 | -€21,234 | -9.4% |
| Plant, machinery and equipment | 23 | €12,462 | €70,231 | +€57,768 | +463.5% |
| Furniture and vehicles | 24 | €28,201 | €161,250 | +€133,048 | +471.8% |
| Other tangible fixed assets | 26 | €10,698 | €1,241,828 | +€1.2m | +11507.9% |
| Financial fixed assets | 28 | €450 | €1,290 | +€840 | +186.7% |
| Current assets | 29/58 | €3,222,222 | €3,909,661 | +€687,439 | +21.3% |
| Amounts receivable after more than one year | 29 | €191,340 | €123,410 | -€67,930 | -35.5% |
| Other amounts receivable | 291 | €191,340 | €123,410 | -€67,930 | -35.5% |
| Stocks and contracts in progress | 3 | €155,949 | €544,097 | +€388,148 | +248.9% |
| Contracts in progress | 37 | €155,949 | €544,097 | +€388,148 | +248.9% |
| Amounts receivable within one year | 40/41 | €1,538,982 | €1,845,669 | +€306,687 | +19.9% |
| Trade receivables | 40 | €1,455,001 | €1,708,384 | +€253,384 | +17.4% |
| Other amounts receivable | 41 | €83,981 | €137,284 | +€53,303 | +63.5% |
| Current investments | 50/53 | €0 | €500,000 | +€500,000 | |
| Cash at bank and in hand | 54/58 | €1,135,808 | €596,802 | -€539,007 | -47.5% |
| Deferred charges and accrued income | 490/1 | €200,143 | €299,683 | +€99,541 | +49.7% |
| Total equity and liabilities | 10/49 | €3,596,432 | €5,741,697 | +€2.1m | +59.6% |
| Equity | 10/15 | €1,469,824 | €2,756,435 | +€1.3m | +87.5% |
| Contributions | 10/11 | €212,000 | €238,100 | +€26,100 | +12.3% |
| Capital | 10 | €212,000 | €238,100 | +€26,100 | +12.3% |
| Issued capital | 100 | €212,000 | €238,100 | +€26,100 | +12.3% |
| Reserves | 13 | €1,257,824 | €2,518,335 | +€1.3m | +100.2% |
| Non-distributable reserves | 130/1 | €21,200 | €23,810 | +€2,610 | +12.3% |
| Legal reserve | 130 | €21,200 | €23,810 | +€2,610 | +12.3% |
| Tax-exempt reserves | 132 | €320,561 | €283,287 | -€37,274 | -11.6% |
| Distributable reserves | 133 | €916,063 | €2,211,239 | +€1.3m | +141.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €6,620 | €5,517 | -€1,103 | -16.7% |
| Deferred taxes | 168 | €6,620 | €5,517 | -€1,103 | -16.7% |
| Amounts payable | 17/49 | €2,119,988 | €2,979,745 | +€859,757 | +40.6% |
| Amounts payable after more than one year | 17 | €129,500 | €1,123,243 | +€993,742 | +767.4% |
| Financial debts | 170/4 | €129,500 | €1,123,243 | +€993,742 | +767.4% |
| Amounts payable within one year | 42/48 | €1,785,105 | €1,731,960 | -€53,145 | -3.0% |
| Current portion of amounts payable after more than one year | 42 | €40,736 | €138,836 | +€98,100 | +240.8% |
| Financial debts | 43 | €309,000 | €421,500 | +€112,500 | +36.4% |
| Credit institutions | 430/8 | €309,000 | €421,500 | +€112,500 | +36.4% |
| Trade debts | 44 | €316,094 | €229,709 | -€86,385 | -27.3% |
| Suppliers | 440/4 | €316,094 | €229,709 | -€86,385 | -27.3% |
| Advances received on contracts in progress | 46 | €22,640 | €22,640 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €696,636 | €919,275 | +€222,640 | +32.0% |
| Taxes | 450/3 | €231,689 | €247,231 | +€15,542 | +6.7% |
| Remuneration and social security | 454/9 | €464,946 | €672,044 | +€207,098 | +44.5% |
| Other amounts payable | 47/48 | €400,000 | €0 | -€400,000 | -100.0% |
| Accrued charges and deferred income | 492/3 | €205,382 | €124,542 | -€80,840 | -39.4% |
| Remuneration, social security and pensions | 62 | €4,256,460 | €5,235,378 | +€978,917 | +23.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,545 | €170,288 | +€91,742 | +116.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€2,458 | €10,115 | +€12,573 | |
| Other operating charges | 640/8 | €14,292 | €13,986 | -€306 | -2.1% |
| Non-recurring operating charges | 66A | - | €586 | +€586 | |
| Gross operating margin | 9900 | €5,252,623 | €6,394,207 | +€1.1m | +21.7% |
| Operating profit (loss) | 9901 | €905,783 | €963,854 | +€58,072 | +6.4% |
| Financial income | 75/76B | €14,558 | €17,920 | +€3,362 | +23.1% |
| Recurring financial income | 75 | €14,558 | €17,920 | +€3,362 | +23.1% |
| Financial charges | 65/66B | €98,920 | €129,414 | +€30,494 | +30.8% |
| Recurring financial charges | 65 | €98,920 | €129,414 | +€30,494 | +30.8% |
| Profit (loss) for the period before taxes | 9903 | €821,420 | €852,360 | +€30,940 | +3.8% |
| Transfer from deferred taxes | 780 | €1,103 | €1,103 | = | 0.0% |
| Income taxes | 67/77 | €242,072 | €237,876 | -€4,197 | -1.7% |
| Profit (loss) for the period | 9904 | €580,452 | €615,588 | +€35,137 | +6.1% |
| Transfer from tax-exempt reserves | 789 | €3,310 | €93,524 | +€90,214 | +2725.4% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €583,762 | €709,113 | +€125,351 | +21.5% |
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 3 October 2026 via checked.be.