EMHR: 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.
EMHR
Largest movements
- Cash +€66,411
up €66,411 (+27.6%), from €240,817 to €307,228
mainly Other debts (+€85,000) and Net result for the year (+€52,107)
- Receivables within one year -€13,358
down €13,358 (-35.4%), from €37,759 to €24,401
of which Trade receivables: -€13,358
- Profit (loss) carried forward -€100,000
down €100,000 (-39.0%), from €256,491 to €156,491
- Other debts +€85,000
new in 2025: €85,000
- Reserves +€52,107
new in 2025: €52,107
- Tax, wage and social debts +€17,797
up €17,797 (+238.9%), from €7,449 to €25,246
of which Taxes: +€19,447
- Taxes +€30,684
up €30,684 (+95.5%), from €32,131 to €62,814
- Depreciation -€5,388
no longer reported in 2025 (was €5,388)
- Other operating charges +€3,467
up €3,467 (+525.2%), from €660 to €4,127
- Gross operating margin +€1,462
up €1,462 (+1.2%), from €117,961 to €119,423
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 | €278,576 | €331,629 | +€53,052 | +19.0% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €278,576 | €331,629 | +€53,052 | +19.0% |
| Amounts receivable within one year | 40/41 | €37,759 | €24,401 | -€13,358 | -35.4% |
| Trade receivables | 40 | €37,752 | €24,393 | -€13,358 | -35.4% |
| Other amounts receivable | 41 | €7 | €7 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €240,817 | €307,228 | +€66,411 | +27.6% |
| Total equity and liabilities | 10/49 | €278,576 | €331,629 | +€53,052 | +19.0% |
| Equity | 10/15 | €266,491 | €218,598 | -€47,893 | -18.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Contributions outside capital | 11 | €10,000 | €10,000 | = | 0.0% |
| Other | 1109/19 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | - | €52,107 | +€52,107 | |
| Distributable reserves | 133 | - | €52,107 | +€52,107 | |
| Profit (loss) carried forward | 14 | €256,491 | €156,491 | -€100,000 | -39.0% |
| Amounts payable | 17/49 | €12,085 | €113,031 | +€100,946 | +835.3% |
| Amounts payable within one year | 42/48 | €12,085 | €113,031 | +€100,946 | +835.3% |
| Financial debts | 43 | €613 | - | -€613 | |
| Credit institutions | 430/8 | €613 | - | -€613 | |
| Trade debts | 44 | €4,023 | €2,785 | -€1,238 | -30.8% |
| Suppliers | 440/4 | €4,023 | €2,785 | -€1,238 | -30.8% |
| Taxes, remuneration and social security | 45 | €7,449 | €25,246 | +€17,797 | +238.9% |
| Taxes | 450/3 | €5,799 | €25,246 | +€19,447 | +335.4% |
| Remuneration and social security | 454/9 | €1,650 | - | -€1,650 | |
| Other amounts payable | 47/48 | - | €85,000 | +€85,000 | |
| Remuneration, social security and pensions | 62 | €124 | €281 | +€157 | +126.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,388 | - | -€5,388 | |
| Other operating charges | 640/8 | €660 | €4,127 | +€3,467 | +525.2% |
| Gross operating margin | 9900 | €117,961 | €119,423 | +€1,462 | +1.2% |
| Operating profit (loss) | 9901 | €111,789 | €115,015 | +€3,226 | +2.9% |
| Financial income | 75/76B | €568 | €15 | -€553 | -97.4% |
| Recurring financial income | 75 | €568 | €15 | -€553 | -97.4% |
| Non-recurring financial income | 76B | €568 | €15 | -€553 | -97.4% |
| Financial charges | 65/66B | €210 | €109 | -€101 | -48.0% |
| Recurring financial charges | 65 | €210 | €109 | -€101 | -48.0% |
| Profit (loss) for the period before taxes | 9903 | €112,147 | €114,921 | +€2,774 | +2.5% |
| Income taxes | 67/77 | €32,131 | €62,814 | +€30,684 | +95.5% |
| Profit (loss) for the period | 9904 | €80,017 | €52,107 | -€27,910 | -34.9% |
| Profit (loss) for the period to be appropriated | 9905 | €80,017 | €52,107 | -€27,910 | -34.9% |
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 11 October 2026 via checked.be.