EMG & co: 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.
EMG & co
Largest movements
- Tangible fixed assets -€42,010
down €42,010 (-3.6%), from €1.2m to €1.1m
of which Land and buildings: -€39,878
- Cash +€17,948
up €17,948 (+21.3%), from €84,452 to €102,399
mainly Depreciation (+€42,010) and Receivables within one year (+€17,190)
- Receivables within one year -€17,190
down €17,190 (-96.9%), from €17,734 to €544
- Debts after one year -€48,918
down €48,918 (-5.1%), from €959,486 to €910,567
- Gross operating margin -€138,993
down €138,993 (-68.5%), from €202,792 to €63,798
- Taxes -€30,406
down €30,406 (-94.8%), from €32,057 to €1,651
- Financial income +€19,865
up €19,865 (+2525.4%), from €787 to €20,651
of which Financial income: +€20,625
- Other operating charges -€6,408
down €6,408 (-30.4%), from €21,052 to €14,644
- Financial charges -€5,000
down €5,000 (-26.7%), from €18,733 to €13,733
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 | €1,312,465 | €1,270,713 | -€41,752 | -3.2% |
| Fixed assets | 21/28 | €1,208,227 | €1,166,217 | -€42,010 | -3.5% |
| Tangible fixed assets | 22/27 | €1,183,227 | €1,141,217 | -€42,010 | -3.6% |
| Land and buildings | 22 | €1,173,776 | €1,133,898 | -€39,878 | -3.4% |
| Plant, machinery and equipment | 23 | €1,120 | €813 | -€307 | -27.4% |
| Furniture and vehicles | 24 | €1,292 | €429 | -€863 | -66.8% |
| Other tangible fixed assets | 26 | €7,039 | €6,077 | -€962 | -13.7% |
| Financial fixed assets | 28 | €25,000 | €25,000 | = | 0.0% |
| Current assets | 29/58 | €104,238 | €104,496 | +€258 | +0.2% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €17,734 | €544 | -€17,190 | -96.9% |
| Other amounts receivable | 41 | €17,734 | €544 | -€17,190 | -96.9% |
| Cash at bank and in hand | 54/58 | €84,452 | €102,399 | +€17,948 | +21.3% |
| Deferred charges and accrued income | 490/1 | €2,053 | €1,553 | -€500 | -24.4% |
| Total equity and liabilities | 10/49 | €1,312,465 | €1,270,713 | -€41,752 | -3.2% |
| Equity | 10/15 | €286,012 | €298,423 | +€12,412 | +4.3% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €211,012 | €223,423 | +€12,412 | +5.9% |
| Distributable reserves | 133 | €211,012 | €223,423 | +€12,412 | +5.9% |
| Amounts payable | 17/49 | €1,026,453 | €972,290 | -€54,163 | -5.3% |
| Amounts payable after more than one year | 17 | €959,486 | €910,567 | -€48,918 | -5.1% |
| Financial debts | 170/4 | €959,486 | €910,567 | -€48,918 | -5.1% |
| Amounts payable within one year | 42/48 | €65,324 | €60,223 | -€5,102 | -7.8% |
| Current portion of amounts payable after more than one year | 42 | €48,359 | €48,918 | +€559 | +1.2% |
| Trade debts | 44 | €46 | €5,009 | +€4,963 | +10850.7% |
| Suppliers | 440/4 | €46 | €5,009 | +€4,963 | +10850.7% |
| Taxes, remuneration and social security | 45 | €5,653 | €2,609 | -€3,044 | -53.9% |
| Taxes | 450/3 | €3,053 | €1,359 | -€1,694 | -55.5% |
| Remuneration and social security | 454/9 | €2,600 | €1,250 | -€1,350 | -51.9% |
| Other amounts payable | 47/48 | €11,267 | €3,687 | -€7,580 | -67.3% |
| Accrued charges and deferred income | 492/3 | €1,643 | €1,500 | -€143 | -8.7% |
| Non-recurring operating income | 76A | - | €10,500 | +€10,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,626 | €42,010 | -€616 | -1.4% |
| Other operating charges | 640/8 | €21,052 | €14,644 | -€6,408 | -30.4% |
| Gross operating margin | 9900 | €202,792 | €63,798 | -€138,993 | -68.5% |
| Operating profit (loss) | 9901 | €139,114 | €7,145 | -€131,970 | -94.9% |
| Financial income | 75/76B | €787 | €20,651 | +€19,865 | +2525.4% |
| Recurring financial income | 75 | €27 | €20,651 | +€20,625 | +77565.2% |
| Non-recurring financial income | 76B | €760 | - | -€760 | |
| Financial charges | 65/66B | €18,733 | €13,733 | -€5,000 | -26.7% |
| Recurring financial charges | 65 | €18,733 | €13,733 | -€5,000 | -26.7% |
| Profit (loss) for the period before taxes | 9903 | €121,168 | €14,063 | -€107,106 | -88.4% |
| Income taxes | 67/77 | €32,057 | €1,651 | -€30,406 | -94.8% |
| Profit (loss) for the period | 9904 | €89,111 | €12,412 | -€76,700 | -86.1% |
| Profit (loss) for the period to be appropriated | 9905 | €89,111 | €12,412 | -€76,700 | -86.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.