EMGE: 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.
EMGE
Largest movements
- Tangible fixed assets -€34,066
down €34,066 (-5.2%), from €656,317 to €622,251
of which Land and buildings: -€18,347
- Receivables within one year -€9,000
no longer reported in 2025 (was €9,000)
- Debts after one year -€63,781
down €63,781 (-22.3%), from €286,301 to €222,520
- Profit (loss) carried forward +€28,261
up €28,261 (+37.2%), from €75,920 to €104,181
- Current portion of long-term debt +€22,254
up €22,254 (+29.7%), from €74,956 to €97,210
- Trade debts -€21,338
down €21,338 (-92.8%), from €22,984 to €1,646
- Reserves -€8,503
down €8,503 (-15.0%), from €56,693 to €48,190
- Financial charges -€3,685
down €3,685 (-24.6%), from €14,977 to €11,292
- Depreciation -€1,658
down €1,658 (-4.6%), from €35,724 to €34,066
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 | €673,140 | €624,856 | -€48,284 | -7.2% |
| Fixed assets | 21/28 | €656,422 | €622,356 | -€34,066 | -5.2% |
| Tangible fixed assets | 22/27 | €656,317 | €622,251 | -€34,066 | -5.2% |
| Land and buildings | 22 | €640,598 | €622,251 | -€18,347 | -2.9% |
| Plant, machinery and equipment | 23 | €12,559 | - | -€12,559 | |
| Furniture and vehicles | 24 | €3,160 | - | -€3,160 | |
| Financial fixed assets | 28 | €105 | €105 | = | 0.0% |
| Current assets | 29/58 | €16,718 | €2,500 | -€14,218 | -85.0% |
| Amounts receivable within one year | 40/41 | €9,000 | - | -€9,000 | |
| Trade receivables | 40 | €9,000 | - | -€9,000 | |
| Cash at bank and in hand | 54/58 | €7,718 | €2,500 | -€5,218 | -67.6% |
| Total equity and liabilities | 10/49 | €673,140 | €624,856 | -€48,284 | -7.2% |
| Equity | 10/15 | €155,377 | €175,135 | +€19,758 | +12.7% |
| Contributions | 10/11 | €22,764 | €22,764 | = | 0.0% |
| Reserves | 13 | €56,693 | €48,190 | -€8,503 | -15.0% |
| Tax-exempt reserves | 132 | €56,693 | €48,190 | -€8,503 | -15.0% |
| Profit (loss) carried forward | 14 | €75,920 | €104,181 | +€28,261 | +37.2% |
| Provisions and deferred taxes | 16 | €29,192 | €24,814 | -€4,378 | -15.0% |
| Deferred taxes | 168 | €29,192 | €24,814 | -€4,378 | -15.0% |
| Amounts payable | 17/49 | €488,571 | €424,907 | -€63,664 | -13.0% |
| Amounts payable after more than one year | 17 | €286,301 | €222,520 | -€63,781 | -22.3% |
| Financial debts | 170/4 | €286,301 | €222,520 | -€63,781 | -22.3% |
| Amounts payable within one year | 42/48 | €202,270 | €202,387 | +€117 | +0.1% |
| Current portion of amounts payable after more than one year | 42 | €74,956 | €97,210 | +€22,254 | +29.7% |
| Trade debts | 44 | €22,984 | €1,646 | -€21,338 | -92.8% |
| Suppliers | 440/4 | €22,984 | €1,646 | -€21,338 | -92.8% |
| Taxes, remuneration and social security | 45 | €28,380 | €25,952 | -€2,428 | -8.6% |
| Taxes | 450/3 | €9,281 | €9,795 | +€514 | +5.5% |
| Remuneration and social security | 454/9 | €19,099 | €16,157 | -€2,942 | -15.4% |
| Other amounts payable | 47/48 | €75,950 | €77,579 | +€1,629 | +2.1% |
| Remuneration, social security and pensions | 62 | €83,666 | €83,261 | -€405 | -0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,724 | €34,066 | -€1,658 | -4.6% |
| Other operating charges | 640/8 | €4,678 | €4,963 | +€285 | +6.1% |
| Gross operating margin | 9900 | €160,505 | €161,929 | +€1,424 | +0.9% |
| Operating profit (loss) | 9901 | €36,437 | €39,639 | +€3,202 | +8.8% |
| Financial charges | 65/66B | €14,977 | €11,292 | -€3,685 | -24.6% |
| Recurring financial charges | 65 | €14,977 | €11,292 | -€3,685 | -24.6% |
| Profit (loss) for the period before taxes | 9903 | €21,460 | €28,347 | +€6,887 | +32.1% |
| Transfer from deferred taxes | 780 | €4,379 | €4,379 | = | 0.0% |
| Income taxes | 67/77 | €11,580 | €12,968 | +€1,388 | +12.0% |
| Profit (loss) for the period | 9904 | €14,259 | €19,758 | +€5,499 | +38.6% |
| Transfer from tax-exempt reserves | 789 | €8,503 | €8,503 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €22,762 | €28,261 | +€5,499 | +24.2% |
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 4 October 2026 via checked.be.