EMFAZIS: 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.
EMFAZIS
Largest movements
- Cash +€27,836
up €27,836 (+88.1%), from €31,592 to €59,428
mainly Net result for the year (+€25,637) and Depreciation (+€18,596)
- Receivables within one year -€13,436
down €13,436 (-47.4%), from €28,349 to €14,912
of which Trade receivables: -€14,978
- Tangible fixed assets -€12,437
down €12,437 (-24.4%), from €50,974 to €38,536
of which Furniture and vehicles: -€10,478
- Intangible fixed assets -€3,000
down €3,000 (-50.0%), from €6,000 to €3,000
- Other debts +€14,518
up €14,518 (+28.5%), from €50,928 to €65,446
- Debts after one year -€8,760
down €8,760 (-43.5%), from €20,129 to €11,369
- Tax, wage and social debts -€2,602
down €2,602 (-18.4%), from €14,148 to €11,546
- Profit (loss) carried forward -€2,363
down €2,363 (-76.5%), from €3,086 to €724
- Trade debts -€1,353
down €1,353 (-41.7%), from €3,245 to €1,892
- Gross operating margin -€12,025
down €12,025 (-17.4%), from €68,998 to €56,972
- Depreciation -€2,550
down €2,550 (-12.1%), from €21,146 to €18,596
- Taxes -€2,227
down €2,227 (-23.0%), from €9,685 to €7,458
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 | €118,609 | €118,337 | -€272 | -0.2% |
| Fixed assets | 21/28 | €56,999 | €41,561 | -€15,437 | -27.1% |
| Intangible fixed assets | 21 | €6,000 | €3,000 | -€3,000 | -50.0% |
| Tangible fixed assets | 22/27 | €50,974 | €38,536 | -€12,437 | -24.4% |
| Land and buildings | 22 | €13,205 | €13,226 | +€21 | +0.2% |
| Plant, machinery and equipment | 23 | €4,166 | €2,185 | -€1,981 | -47.5% |
| Furniture and vehicles | 24 | €33,603 | €23,125 | -€10,478 | -31.2% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €61,610 | €76,776 | +€15,166 | +24.6% |
| Amounts receivable within one year | 40/41 | €28,349 | €14,912 | -€13,436 | -47.4% |
| Trade receivables | 40 | €28,349 | €13,371 | -€14,978 | -52.8% |
| Other amounts receivable | 41 | - | €1,542 | +€1,542 | |
| Cash at bank and in hand | 54/58 | €31,592 | €59,428 | +€27,836 | +88.1% |
| Deferred charges and accrued income | 490/1 | €1,669 | €2,436 | +€767 | +45.9% |
| Total equity and liabilities | 10/49 | €118,609 | €118,337 | -€272 | -0.2% |
| Equity | 10/15 | €21,686 | €19,324 | -€2,363 | -10.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,086 | €724 | -€2,363 | -76.5% |
| Amounts payable | 17/49 | €96,922 | €99,013 | +€2,091 | +2.2% |
| Amounts payable after more than one year | 17 | €20,129 | €11,369 | -€8,760 | -43.5% |
| Financial debts | 170/4 | €20,129 | €11,369 | -€8,760 | -43.5% |
| Amounts payable within one year | 42/48 | €76,793 | €87,644 | +€10,851 | +14.1% |
| Current portion of amounts payable after more than one year | 42 | €8,472 | €8,760 | +€288 | +3.4% |
| Trade debts | 44 | €3,245 | €1,892 | -€1,353 | -41.7% |
| Suppliers | 440/4 | €3,245 | €1,892 | -€1,353 | -41.7% |
| Taxes, remuneration and social security | 45 | €14,148 | €11,546 | -€2,602 | -18.4% |
| Taxes | 450/3 | €14,148 | €11,546 | -€2,602 | -18.4% |
| Other amounts payable | 47/48 | €50,928 | €65,446 | +€14,518 | +28.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,146 | €18,596 | -€2,550 | -12.1% |
| Other operating charges | 640/8 | €1,560 | €1,162 | -€399 | -25.6% |
| Gross operating margin | 9900 | €68,998 | €56,972 | -€12,025 | -17.4% |
| Operating profit (loss) | 9901 | €46,292 | €37,215 | -€9,077 | -19.6% |
| Financial income | 75/76B | - | €9 | +€9 | |
| Recurring financial income | 75 | - | €9 | +€9 | |
| Financial charges | 65/66B | €3,877 | €4,128 | +€251 | +6.5% |
| Recurring financial charges | 65 | €3,877 | €4,128 | +€251 | +6.5% |
| Profit (loss) for the period before taxes | 9903 | €42,415 | €33,096 | -€9,319 | -22.0% |
| Income taxes | 67/77 | €9,685 | €7,458 | -€2,227 | -23.0% |
| Profit (loss) for the period | 9904 | €32,730 | €25,637 | -€7,092 | -21.7% |
| Profit (loss) for the period to be appropriated | 9905 | €32,730 | €25,637 | -€7,092 | -21.7% |
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 5 October 2026 via checked.be.