EMGI: what changed
Two financial 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.
EMGI
Largest movements
- Stocks and contracts +€708,153
up €708,153 (+414%), from €171,199 to €879,352
- Cash -€254,820
down €254,820 (-87.3%), from €291,964 to €37,144
mainly Stocks and contracts (-€708,153) and Tax, wage and social debts (-€46,949)
- Debts after one year +€379,097
up €379,097 (+435%), from €87,119 to €466,216
- Other debts +€83,238
up €83,238 (+4,893%), from €1,701 to €84,939
- Tax, wage and social debts -€46,949
down €46,949 (-49.5%), from €94,787 to €47,838
- Trade debts +€32,097
up €32,097 (+69.4%), from €46,273 to €78,370
- Gross operating margin -€74,287
down €74,287 (-80.9%), from €91,808 to €17,521
- Taxes -€27,032
down €27,032 (-89.6%), from €30,174 to €3,142
- Financial charges +€8,509
up €8,509 (+269%), from €3,168 to €11,677
- Financial income +€2,463
up €2,463 (+129%), from €1,907 to €4,370
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.
Derived cash bridge
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 | €464,793 | €919,008 | +€454,215 | +97.7% |
| Fixed assets | 21/28 | €1,115 | €889 | -€226 | -20.3% |
| Tangible fixed assets | 22/27 | €1,115 | €889 | -€226 | -20.3% |
| Plant, machinery and equipment | 23 | €1,115 | €889 | -€226 | -20.3% |
| Current assets | 29/58 | €463,678 | €918,119 | +€454,441 | +98.0% |
| Stocks and contracts in progress | 3 | €171,199 | €879,352 | +€708,153 | +414% |
| Stocks | 30/36 | €171,199 | €879,352 | +€708,153 | +414% |
| Amounts receivable within one year | 40/41 | €515 | €1,623 | +€1,108 | +215% |
| Trade receivables | 40 | €515 | €883 | +€369 | +71.7% |
| Other amounts receivable | 41 | €1 | €740 | +€740 | +127,502% |
| Cash at bank and in hand | 54/58 | €291,964 | €37,144 | -€254,820 | -87.3% |
| Total equity and liabilities | 10/49 | €464,793 | €919,008 | +€454,215 | +97.7% |
| Equity | 10/15 | €234,912 | €241,644 | +€6,732 | +2.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €222,512 | €229,244 | +€6,732 | +3.0% |
| Distributable reserves | 133 | €222,512 | €229,244 | +€6,732 | +3.0% |
| Amounts payable | 17/49 | €229,881 | €677,364 | +€447,483 | +195% |
| Amounts payable after more than one year | 17 | €87,119 | €466,216 | +€379,097 | +435% |
| Financial debts | 170/4 | €87,119 | €466,216 | +€379,097 | +435% |
| Amounts payable within one year | 42/48 | €142,762 | €211,148 | +€68,386 | +47.9% |
| Trade debts | 44 | €46,273 | €78,370 | +€32,097 | +69.4% |
| Suppliers | 440/4 | €46,273 | €78,370 | +€32,097 | +69.4% |
| Taxes, remuneration and social security | 45 | €94,787 | €47,838 | -€46,949 | -49.5% |
| Taxes | 450/3 | €94,787 | €47,838 | -€46,949 | -49.5% |
| Other amounts payable | 47/48 | €1,701 | €84,939 | +€83,238 | +4,893% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15 | €226 | +€211 | +1,452% |
| Other operating charges | 640/8 | €62 | €115 | +€53 | +85.5% |
| Gross operating margin | 9900 | €91,808 | €17,521 | -€74,287 | -80.9% |
| Operating profit (loss) | 9901 | €91,731 | €17,181 | -€74,551 | -81.3% |
| Financial income | 75/76B | €1,907 | €4,370 | +€2,463 | +129% |
| Recurring financial income | 75 | €1,907 | €4,370 | +€2,463 | +129% |
| Financial charges | 65/66B | €3,168 | €11,677 | +€8,509 | +269% |
| Recurring financial charges | 65 | €3,168 | €11,677 | +€8,509 | +269% |
| Profit (loss) for the period before taxes | 9903 | €90,471 | €9,874 | -€80,597 | -89.1% |
| Income taxes | 67/77 | €30,174 | €3,142 | -€27,032 | -89.6% |
| Profit (loss) for the period | 9904 | €60,297 | €6,732 | -€53,565 | -88.8% |
| Profit (loss) for the period to be appropriated | 9905 | €60,297 | €6,732 | -€53,565 | -88.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.