EMERSON: 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.
EMERSON
Largest movements
- Current investments +€109,990
up €109,990 (+83.6%), from €131,643 to €241,633
- Tangible fixed assets -€52,281
down €52,281 (-17.4%), from €299,629 to €247,348
of which Land and buildings: -€40,977
- Cash -€24,915
down €24,915 (-29.0%), from €85,922 to €61,007
mainly Current investments (-€109,990) and Debts after one year (-€20,698)
- Profit (loss) carried forward +€32,970
up €32,970 (+10.4%), from €318,504 to €351,474
- Debts after one year -€20,698
down €20,698 (-14.5%), from €142,449 to €121,751
- Trade debts +€18,257
up €18,257 (+85.8%), from €21,283 to €39,540
- Current portion of long-term debt -€11,751
down €11,751 (-36.2%), from €32,449 to €20,698
- Tax, wage and social debts +€6,305
up €6,305 (+63.8%), from €9,878 to €16,183
- Gross operating margin -€18,649
down €18,649 (-12.3%), from €151,494 to €132,845
- Depreciation +€5,523
up €5,523 (+8.7%), from €63,524 to €69,047
- Taxes +€2,347
up €2,347 (+13.4%), from €17,547 to €19,894
- Financial charges -€1,599
down €1,599 (-22.5%), from €7,122 to €5,523
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 | €563,235 | €589,905 | +€26,670 | +4.7% |
| Fixed assets | 21/28 | €299,629 | €247,348 | -€52,281 | -17.4% |
| Tangible fixed assets | 22/27 | €299,629 | €247,348 | -€52,281 | -17.4% |
| Land and buildings | 22 | €198,686 | €157,709 | -€40,977 | -20.6% |
| Plant, machinery and equipment | 23 | €26,751 | €21,264 | -€5,487 | -20.5% |
| Furniture and vehicles | 24 | €74,192 | €68,375 | -€5,817 | -7.8% |
| Current assets | 29/58 | €263,606 | €342,557 | +€78,951 | +30.0% |
| Stocks and contracts in progress | 3 | €45,589 | €39,917 | -€5,672 | -12.4% |
| Stocks | 30/36 | €45,589 | €39,917 | -€5,672 | -12.4% |
| Amounts receivable within one year | 40/41 | €452 | - | -€452 | |
| Trade receivables | 40 | €452 | - | -€452 | |
| Current investments | 50/53 | €131,643 | €241,633 | +€109,990 | +83.6% |
| Cash at bank and in hand | 54/58 | €85,922 | €61,007 | -€24,915 | -29.0% |
| Total equity and liabilities | 10/49 | €563,235 | €589,905 | +€26,670 | +4.7% |
| Equity | 10/15 | €346,004 | €378,974 | +€32,970 | +9.5% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Capital | 10 | €25,000 | - | -€25,000 | |
| Issued capital | 100 | €25,000 | - | -€25,000 | |
| Reserves | 13 | €2,500 | €2,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,500 | - | -€2,500 | |
| Legal reserve | 130 | €2,500 | - | -€2,500 | |
| Distributable reserves | 133 | - | €2,500 | +€2,500 | |
| Profit (loss) carried forward | 14 | €318,504 | €351,474 | +€32,970 | +10.4% |
| Amounts payable | 17/49 | €217,231 | €210,931 | -€6,300 | -2.9% |
| Amounts payable after more than one year | 17 | €142,449 | €121,751 | -€20,698 | -14.5% |
| Financial debts | 170/4 | €142,449 | €121,751 | -€20,698 | -14.5% |
| Amounts payable within one year | 42/48 | €74,782 | €89,180 | +€14,398 | +19.3% |
| Current portion of amounts payable after more than one year | 42 | €32,449 | €20,698 | -€11,751 | -36.2% |
| Trade debts | 44 | €21,283 | €39,540 | +€18,257 | +85.8% |
| Suppliers | 440/4 | €21,283 | €39,540 | +€18,257 | +85.8% |
| Taxes, remuneration and social security | 45 | €9,878 | €16,183 | +€6,305 | +63.8% |
| Taxes | 450/3 | €9,878 | €16,183 | +€6,305 | +63.8% |
| Other amounts payable | 47/48 | €11,172 | €12,759 | +€1,587 | +14.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,524 | €69,047 | +€5,523 | +8.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,334 | -€1,793 | -€459 | -34.4% |
| Other operating charges | 640/8 | €7,195 | €7,452 | +€257 | +3.6% |
| Gross operating margin | 9900 | €151,494 | €132,845 | -€18,649 | -12.3% |
| Operating profit (loss) | 9901 | €82,109 | €58,139 | -€23,970 | -29.2% |
| Financial income | 75/76B | €230 | €248 | +€18 | +7.8% |
| Recurring financial income | 75 | €230 | €248 | +€18 | +7.8% |
| Financial charges | 65/66B | €7,122 | €5,523 | -€1,599 | -22.5% |
| Recurring financial charges | 65 | €7,122 | €5,523 | -€1,599 | -22.5% |
| Profit (loss) for the period before taxes | 9903 | €75,217 | €52,864 | -€22,353 | -29.7% |
| Income taxes | 67/77 | €17,547 | €19,894 | +€2,347 | +13.4% |
| Profit (loss) for the period | 9904 | €57,670 | €32,970 | -€24,700 | -42.8% |
| Profit (loss) for the period to be appropriated | 9905 | €57,670 | €32,970 | -€24,700 | -42.8% |
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 9 October 2026 via checked.be.