EMERIT: 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.
EMERIT
Largest movements
- Cash +€42,453
up €42,453 (+14.0%), from €304,054 to €346,507
mainly Net result for the year (+€115,096) and Tax, wage and social debts (+€2,474)
- Profit (loss) carried forward +€115,096
up €115,096, from -€108,286 to €6,810
- Other debts -€65,730
no longer reported in 2025 (was €65,730)
- Trade debts -€7,913
down €7,913 (-89.7%), from €8,820 to €907
- Gross operating margin +€19,491
up €19,491 (+20.0%), from €97,573 to €117,064
- Depreciation -€6,806
down €6,806 (-89.9%), from €7,566 to €761
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 | €352,438 | €396,364 | +€43,927 | +12.5% |
| Fixed assets | 21/28 | €1,521 | €761 | -€761 | -50.0% |
| Tangible fixed assets | 22/27 | €1,521 | €761 | -€761 | -50.0% |
| Furniture and vehicles | 24 | €1,521 | €761 | -€761 | -50.0% |
| Current assets | 29/58 | €350,916 | €395,604 | +€44,687 | +12.7% |
| Amounts receivable within one year | 40/41 | €44,640 | €47,309 | +€2,669 | +6.0% |
| Trade receivables | 40 | €44,488 | €47,309 | +€2,821 | +6.3% |
| Other amounts receivable | 41 | €152 | - | -€152 | |
| Cash at bank and in hand | 54/58 | €304,054 | €346,507 | +€42,453 | +14.0% |
| Deferred charges and accrued income | 490/1 | €2,222 | €1,787 | -€435 | -19.6% |
| Total equity and liabilities | 10/49 | €352,438 | €396,364 | +€43,927 | +12.5% |
| Equity | 10/15 | €275,721 | €390,817 | +€115,096 | +41.7% |
| Contributions | 10/11 | €367,200 | €367,200 | = | 0.0% |
| Capital | 10 | €367,200 | €367,200 | = | 0.0% |
| Issued capital | 100 | €367,200 | €367,200 | = | 0.0% |
| Reserves | 13 | €16,807 | €16,807 | = | 0.0% |
| Non-distributable reserves | 130/1 | €15,604 | €15,604 | = | 0.0% |
| Legal reserve | 130 | €15,604 | €15,604 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,203 | €1,203 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€108,286 | €6,810 | +€115,096 | |
| Amounts payable | 17/49 | €76,716 | €5,547 | -€71,169 | -92.8% |
| Amounts payable within one year | 42/48 | €76,716 | €5,547 | -€71,169 | -92.8% |
| Trade debts | 44 | €8,820 | €907 | -€7,913 | -89.7% |
| Suppliers | 440/4 | €8,820 | €907 | -€7,913 | -89.7% |
| Taxes, remuneration and social security | 45 | €2,166 | €4,640 | +€2,474 | +114.2% |
| Taxes | 450/3 | €364 | €2,821 | +€2,458 | +675.7% |
| Remuneration and social security | 454/9 | €1,803 | €1,819 | +€16 | +0.9% |
| Other amounts payable | 47/48 | €65,730 | - | -€65,730 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,566 | €761 | -€6,806 | -89.9% |
| Other operating charges | 640/8 | €571 | €587 | +€15 | +2.6% |
| Gross operating margin | 9900 | €97,573 | €117,064 | +€19,491 | +20.0% |
| Operating profit (loss) | 9901 | €89,435 | €115,717 | +€26,282 | +29.4% |
| Financial charges | 65/66B | €328 | €445 | +€117 | +35.7% |
| Recurring financial charges | 65 | €328 | €445 | +€117 | +35.7% |
| Profit (loss) for the period before taxes | 9903 | €89,107 | €115,272 | +€26,165 | +29.4% |
| Income taxes | 67/77 | €177 | €176 | -€1 | -0.3% |
| Profit (loss) for the period | 9904 | €88,930 | €115,096 | +€26,165 | +29.4% |
| Profit (loss) for the period to be appropriated | 9905 | €88,930 | €115,096 | +€26,165 | +29.4% |
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 6 October 2026 via checked.be.