EMGT: 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.
EMGT
Largest movements
- Tangible fixed assets -€27,668
down €27,668 (-50.1%), from €55,244 to €27,576
of which Furniture and vehicles: -€26,531
- Cash +€5,735
up €5,735 (+20.8%), from €27,550 to €33,285
mainly Net result for the year (+€43,339) and Depreciation (+€28,920)
- Receivables within one year -€3,413
down €3,413 (-15.1%), from €22,669 to €19,256
of which Other amounts receivable: -€2,312
- Reserves -€42,661
down €42,661 (-64.2%), from €66,488 to €23,827
- Other debts +€23,207
new in 2025: €23,207
- Debts after one year -€8,177
down €8,177 (-59.6%), from €13,710 to €5,533
- Tax, wage and social debts +€6,070
up €6,070 (+38.7%), from €15,681 to €21,751
of which Taxes: +€5,452
- Trade debts -€2,654
down €2,654 (-98.0%), from €2,707 to €53
- Gross operating margin +€14,256
up €14,256 (+11.4%), from €125,114 to €139,370
- Staff costs +€4,336
up €4,336 (+9.9%), from €43,889 to €48,225
- Depreciation -€3,943
down €3,943 (-12.0%), from €32,864 to €28,920
- Taxes +€2,707
up €2,707 (+20.3%), from €13,322 to €16,029
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 | €108,148 | €82,549 | -€25,599 | -23.7% |
| Fixed assets | 21/28 | €55,244 | €27,576 | -€27,668 | -50.1% |
| Tangible fixed assets | 22/27 | €55,244 | €27,576 | -€27,668 | -50.1% |
| Furniture and vehicles | 24 | €43,778 | €17,247 | -€26,531 | -60.6% |
| Other tangible fixed assets | 26 | €11,466 | €10,328 | -€1,138 | -9.9% |
| Current assets | 29/58 | €52,904 | €54,973 | +€2,069 | +3.9% |
| Amounts receivable within one year | 40/41 | €22,669 | €19,256 | -€3,413 | -15.1% |
| Trade receivables | 40 | €19,957 | €18,856 | -€1,100 | -5.5% |
| Other amounts receivable | 41 | €2,712 | €400 | -€2,312 | -85.3% |
| Cash at bank and in hand | 54/58 | €27,550 | €33,285 | +€5,735 | +20.8% |
| Deferred charges and accrued income | 490/1 | €2,685 | €2,432 | -€253 | -9.4% |
| Total equity and liabilities | 10/49 | €108,148 | €82,549 | -€25,599 | -23.7% |
| Equity | 10/15 | €66,489 | €23,828 | -€42,661 | -64.2% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €66,488 | €23,827 | -€42,661 | -64.2% |
| Distributable reserves | 133 | €66,488 | €23,827 | -€42,661 | -64.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €41,659 | €58,721 | +€17,062 | +41.0% |
| Amounts payable after more than one year | 17 | €13,710 | €5,533 | -€8,177 | -59.6% |
| Financial debts | 170/4 | €13,710 | €5,533 | -€8,177 | -59.6% |
| Amounts payable within one year | 42/48 | €27,934 | €53,188 | +€25,254 | +90.4% |
| Current portion of amounts payable after more than one year | 42 | €9,546 | €8,177 | -€1,369 | -14.3% |
| Trade debts | 44 | €2,707 | €53 | -€2,654 | -98.0% |
| Suppliers | 440/4 | €2,707 | €53 | -€2,654 | -98.0% |
| Taxes, remuneration and social security | 45 | €15,681 | €21,751 | +€6,070 | +38.7% |
| Taxes | 450/3 | €9,923 | €15,375 | +€5,452 | +54.9% |
| Remuneration and social security | 454/9 | €5,758 | €6,376 | +€618 | +10.7% |
| Other amounts payable | 47/48 | - | €23,207 | +€23,207 | |
| Accrued charges and deferred income | 492/3 | €14 | €0 | -€14 | -100.0% |
| Remuneration, social security and pensions | 62 | €43,889 | €48,225 | +€4,336 | +9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,864 | €28,920 | -€3,943 | -12.0% |
| Other operating charges | 640/8 | €2,373 | €1,889 | -€484 | -20.4% |
| Gross operating margin | 9900 | €125,114 | €139,370 | +€14,256 | +11.4% |
| Operating profit (loss) | 9901 | €45,989 | €60,335 | +€14,346 | +31.2% |
| Financial charges | 65/66B | €1,148 | €968 | -€180 | -15.6% |
| Recurring financial charges | 65 | €1,148 | €968 | -€180 | -15.6% |
| Profit (loss) for the period before taxes | 9903 | €44,841 | €59,367 | +€14,526 | +32.4% |
| Income taxes | 67/77 | €13,322 | €16,029 | +€2,707 | +20.3% |
| Profit (loss) for the period | 9904 | €31,520 | €43,339 | +€11,819 | +37.5% |
| Profit (loss) for the period to be appropriated | 9905 | €31,520 | €43,339 | +€11,819 | +37.5% |
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.