EMFRIE: 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.
EMFRIE
Largest movements
- Tangible fixed assets +€184,696
up €184,696 (+10.9%), from €1.7m to €1.9m
of which Land and buildings: +€131,560
- Receivables within one year -€28,362
down €28,362 (-71.1%), from €39,910 to €11,548
of which Other amounts receivable: -€19,872
- Debts after one year +€68,899
up €68,899 (+7.0%), from €989,174 to €1.1m
- Profit (loss) carried forward +€52,764
up €52,764 (+17.4%), from €302,866 to €355,630
- Current portion of long-term debt +€31,134
up €31,134 (+23.1%), from €134,970 to €166,103
- Depreciation +€13,518
up €13,518 (+12.0%), from €113,048 to €126,566
- Taxes -€7,672
down €7,672 (-48.7%), from €15,762 to €8,090
- Financial charges +€6,023
up €6,023 (+15.9%), from €37,960 to €43,982
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 | €1,763,976 | €1,909,101 | +€145,126 | +8.2% |
| Fixed assets | 21/28 | €1,689,232 | €1,872,878 | +€183,646 | +10.9% |
| Tangible fixed assets | 22/27 | €1,688,182 | €1,872,878 | +€184,696 | +10.9% |
| Land and buildings | 22 | €1,607,135 | €1,738,695 | +€131,560 | +8.2% |
| Plant, machinery and equipment | 23 | €1,551 | €72,906 | +€71,355 | +4600.3% |
| Furniture and vehicles | 24 | €79,496 | €61,277 | -€18,219 | -22.9% |
| Financial fixed assets | 28 | €1,050 | - | -€1,050 | |
| Current assets | 29/58 | €74,743 | €36,223 | -€38,520 | -51.5% |
| Stocks and contracts in progress | 3 | €8,058 | €7,655 | -€403 | -5.0% |
| Stocks | 30/36 | €8,058 | €7,655 | -€403 | -5.0% |
| Amounts receivable within one year | 40/41 | €39,910 | €11,548 | -€28,362 | -71.1% |
| Trade receivables | 40 | €16,408 | €7,918 | -€8,490 | -51.7% |
| Other amounts receivable | 41 | €23,502 | €3,631 | -€19,872 | -84.6% |
| Cash at bank and in hand | 54/58 | €20,365 | €16,926 | -€3,439 | -16.9% |
| Deferred charges and accrued income | 490/1 | €6,411 | €94 | -€6,316 | -98.5% |
| Total equity and liabilities | 10/49 | €1,763,976 | €1,909,101 | +€145,126 | +8.2% |
| Equity | 10/15 | €350,066 | €402,830 | +€52,764 | +15.1% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €22,200 | €22,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €19,700 | €19,700 | = | 0.0% |
| Distributable reserves | 133 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €302,866 | €355,630 | +€52,764 | +17.4% |
| Amounts payable | 17/49 | €1,413,910 | €1,506,272 | +€92,362 | +6.5% |
| Amounts payable after more than one year | 17 | €989,174 | €1,058,073 | +€68,899 | +7.0% |
| Financial debts | 170/4 | €989,174 | €1,058,073 | +€68,899 | +7.0% |
| Amounts payable within one year | 42/48 | €409,056 | €432,118 | +€23,062 | +5.6% |
| Current portion of amounts payable after more than one year | 42 | €134,970 | €166,103 | +€31,134 | +23.1% |
| Trade debts | 44 | €13,280 | €11,405 | -€1,875 | -14.1% |
| Suppliers | 440/4 | €13,280 | €11,405 | -€1,875 | -14.1% |
| Taxes, remuneration and social security | 45 | €14,994 | €11,285 | -€3,709 | -24.7% |
| Taxes | 450/3 | €14,994 | €11,285 | -€3,709 | -24.7% |
| Other amounts payable | 47/48 | €245,812 | €243,324 | -€2,488 | -1.0% |
| Accrued charges and deferred income | 492/3 | €15,680 | €16,080 | +€400 | +2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €113,048 | €126,566 | +€13,518 | +12.0% |
| Other operating charges | 640/8 | €8,230 | €7,272 | -€959 | -11.6% |
| Gross operating margin | 9900 | €237,424 | €236,083 | -€1,341 | -0.6% |
| Operating profit (loss) | 9901 | €116,146 | €102,246 | -€13,900 | -12.0% |
| Financial income | 75/76B | €3,228 | €2,590 | -€638 | -19.8% |
| Recurring financial income | 75 | €3,228 | €2,590 | -€638 | -19.8% |
| Financial charges | 65/66B | €37,960 | €43,982 | +€6,023 | +15.9% |
| Recurring financial charges | 65 | €37,960 | €43,982 | +€6,023 | +15.9% |
| Profit (loss) for the period before taxes | 9903 | €81,414 | €60,854 | -€20,561 | -25.3% |
| Income taxes | 67/77 | €15,762 | €8,090 | -€7,672 | -48.7% |
| Profit (loss) for the period | 9904 | €65,652 | €52,764 | -€12,889 | -19.6% |
| Profit (loss) for the period to be appropriated | 9905 | €65,652 | €52,764 | -€12,889 | -19.6% |
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 8 October 2026 via checked.be.