Emfee: 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.
Emfee
Largest movements
- Receivables after one year +€31,461
up €31,461 (+102.7%), from €30,625 to €62,087
- Cash -€20,580
down €20,580 (-36.1%), from €56,959 to €36,379
mainly Receivables after one year (-€31,461) and Receivables within one year (-€12,166)
- Receivables within one year +€12,166
up €12,166 (+54.7%), from €22,237 to €34,403
of which Other amounts receivable: +€11,247
- Reserves +€30,715
up €30,715 (+31.5%), from €97,633 to €128,348
- Tax, wage and social debts -€7,655
down €7,655 (-65.2%), from €11,741 to €4,086
- Gross operating margin -€15,533
down €15,533 (-26.0%), from €59,644 to €44,111
- Taxes -€6,426
down €6,426 (-33.2%), from €19,360 to €12,934
- Financial income +€1,199
up €1,199 (+116.6%), from €1,029 to €2,228
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 | €111,680 | €134,730 | +€23,050 | +20.6% |
| Fixed assets | 21/28 | €546 | €147 | -€399 | -73.1% |
| Tangible fixed assets | 22/27 | €546 | €147 | -€399 | -73.1% |
| Plant, machinery and equipment | 23 | €546 | €147 | -€399 | -73.1% |
| Current assets | 29/58 | €111,135 | €134,583 | +€23,448 | +21.1% |
| Amounts receivable after more than one year | 29 | €30,625 | €62,087 | +€31,461 | +102.7% |
| Other amounts receivable | 291 | €30,625 | €62,087 | +€31,461 | +102.7% |
| Amounts receivable within one year | 40/41 | €22,237 | €34,403 | +€12,166 | +54.7% |
| Trade receivables | 40 | €12,564 | €13,483 | +€919 | +7.3% |
| Other amounts receivable | 41 | €9,673 | €20,920 | +€11,247 | +116.3% |
| Cash at bank and in hand | 54/58 | €56,959 | €36,379 | -€20,580 | -36.1% |
| Deferred charges and accrued income | 490/1 | €1,313 | €1,714 | +€401 | +30.6% |
| Total equity and liabilities | 10/49 | €111,680 | €134,730 | +€23,050 | +20.6% |
| Equity | 10/15 | €98,633 | €129,348 | +€30,715 | +31.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €97,633 | €128,348 | +€30,715 | +31.5% |
| Distributable reserves | 133 | €97,633 | €128,348 | +€30,715 | +31.5% |
| Amounts payable | 17/49 | €13,047 | €5,381 | -€7,665 | -58.8% |
| Amounts payable within one year | 42/48 | €13,047 | €5,381 | -€7,665 | -58.8% |
| Trade debts | 44 | €1,306 | €1,295 | -€10 | -0.8% |
| Suppliers | 440/4 | €1,306 | €1,295 | -€10 | -0.8% |
| Taxes, remuneration and social security | 45 | €11,741 | €4,086 | -€7,655 | -65.2% |
| Taxes | 450/3 | €11,741 | €4,086 | -€7,655 | -65.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €852 | €399 | -€453 | -53.2% |
| Other operating charges | 640/8 | €751 | €583 | -€168 | -22.4% |
| Gross operating margin | 9900 | €59,644 | €44,111 | -€15,533 | -26.0% |
| Operating profit (loss) | 9901 | €58,041 | €43,129 | -€14,911 | -25.7% |
| Financial income | 75/76B | €1,029 | €2,228 | +€1,199 | +116.6% |
| Recurring financial income | 75 | €1,029 | €2,228 | +€1,199 | +116.6% |
| Financial charges | 65/66B | €1,931 | €1,708 | -€223 | -11.5% |
| Recurring financial charges | 65 | €1,931 | €1,708 | -€223 | -11.5% |
| Profit (loss) for the period before taxes | 9903 | €57,138 | €43,649 | -€13,489 | -23.6% |
| Income taxes | 67/77 | €19,360 | €12,934 | -€6,426 | -33.2% |
| Profit (loss) for the period | 9904 | €37,778 | €30,715 | -€7,063 | -18.7% |
| Profit (loss) for the period to be appropriated | 9905 | €37,778 | €30,715 | -€7,063 | -18.7% |
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 1 October 2026 via checked.be.