EMGS: 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.
EMGS
Largest movements
- Current investments +€7,496
up €7,496 (+2,619%), from €286 to €7,782
- Receivables within one year -€4,736
down €4,736 (-91.8%), from €5,156 to €421
- Tangible fixed assets -€1,707
down €1,707 (-33.0%), from €5,178 to €3,471
- Cash +€1,704
up €1,704 (+19.5%), from €8,725 to €10,429
mainly Net result for the year (+€5,753) and Receivables within one year (+€4,736)
- Deferred charges and accrued income -€1,614
down €1,614 (-45.1%), from €3,578 to €1,964
- Other debts +€1,410
new in 2025: €1,410
- Trade debts -€789
down €789 (-55.9%), from €1,411 to €622
- Tax, wage and social debts +€522
up €522 (+153%), from €340 to €863
- Gross operating margin -€2,595
down €2,595 (-23.3%), from €11,127 to €8,532
- Taxes -€340
down €340 (-100%), from €340 to €0
- Other operating charges -€289
down €289 (-25.3%), from €1,145 to €856
- Staff costs -€241
down €241 (-100%), from €241 to €0
- Financial charges -€124
down €124 (-36.4%), from €341 to €217
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 | €22,923 | €24,067 | +€1,143 | +5.0% |
| Fixed assets | 21/28 | €5,178 | €3,471 | -€1,707 | -33.0% |
| Tangible fixed assets | 22/27 | €5,178 | €3,471 | -€1,707 | -33.0% |
| Land and buildings | 22 | €5,178 | €3,471 | -€1,707 | -33.0% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €17,745 | €20,595 | +€2,850 | +16.1% |
| Amounts receivable within one year | 40/41 | €5,156 | €421 | -€4,736 | -91.8% |
| Other amounts receivable | 41 | €5,156 | €421 | -€4,736 | -91.8% |
| Current investments | 50/53 | €286 | €7,782 | +€7,496 | +2,619% |
| Cash at bank and in hand | 54/58 | €8,725 | €10,429 | +€1,704 | +19.5% |
| Deferred charges and accrued income | 490/1 | €3,578 | €1,964 | -€1,614 | -45.1% |
| Total equity and liabilities | 10/49 | €22,923 | €24,067 | +€1,143 | +5.0% |
| Equity | 10/15 | €21,171 | €21,171 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,571 | €2,571 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €711 | €711 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,752 | €2,895 | +€1,143 | +65.3% |
| Amounts payable within one year | 42/48 | €1,752 | €2,895 | +€1,143 | +65.3% |
| Trade debts | 44 | €1,411 | €622 | -€789 | -55.9% |
| Suppliers | 440/4 | €1,411 | €622 | -€789 | -55.9% |
| Taxes, remuneration and social security | 45 | €340 | €863 | +€522 | +153% |
| Taxes | 450/3 | €340 | €863 | +€522 | +153% |
| Other amounts payable | 47/48 | - | €1,410 | +€1,410 | |
| Remuneration, social security and pensions | 62 | €241 | €0 | -€241 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,815 | €1,707 | -€108 | -6.0% |
| Other operating charges | 640/8 | €1,145 | €856 | -€289 | -25.3% |
| Gross operating margin | 9900 | €11,127 | €8,532 | -€2,595 | -23.3% |
| Operating profit (loss) | 9901 | €7,926 | €5,969 | -€1,956 | -24.7% |
| Financial charges | 65/66B | €341 | €217 | -€124 | -36.4% |
| Recurring financial charges | 65 | €341 | €217 | -€124 | -36.4% |
| Profit (loss) for the period before taxes | 9903 | €7,585 | €5,753 | -€1,833 | -24.2% |
| Income taxes | 67/77 | €340 | €0 | -€340 | -100% |
| Profit (loss) for the period | 9904 | €7,245 | €5,753 | -€1,492 | -20.6% |
| Profit (loss) for the period to be appropriated | 9905 | €7,245 | €5,753 | -€1,492 | -20.6% |
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 15 October 2026 via checked.be.