EMICHLEO: 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.
EMICHLEO
Largest movements
- Cash -€52,978
down €52,978 (-66.7%), from €79,466 to €26,487
mainly Contributions, distributions and other (-€250,000) and Current investments (-€50,000)
- Current investments +€50,000
up €50,000 (+50.0%), from €100,000 to €150,000
- Other debts +€151,124
up €151,124 (+35558.5%), from €425 to €151,549
- Profit (loss) carried forward -€91,281
down €91,281 (-40.4%), from €226,098 to €134,817
- Tax, wage and social debts -€39,333
down €39,333 (-64.3%), from €61,129 to €21,796
- Debts after one year -€32,983
down €32,983 (-4.2%), from €787,257 to €754,274
- Short-term financial debts +€12,172
new in 2025: €12,172
- Depreciation -€127,570
down €127,570 (-80.8%), from €157,934 to €30,364
- Taxes +€47,024
up €47,024 (+1037.0%), from €4,535 to €51,559
- Gross operating margin +€41,528
up €41,528 (+17.9%), from €231,674 to €273,202
- Financial charges +€5,998
up €5,998 (+23.3%), from €25,749 to €31,747
- Financial income -€3,921
down €3,921 (-69.9%), from €5,609 to €1,688
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 | €1,125,131 | €1,119,011 | -€6,120 | -0.5% |
| Fixed assets | 21/28 | €906,405 | €900,364 | -€6,042 | -0.7% |
| Tangible fixed assets | 22/27 | €906,405 | €900,364 | -€6,042 | -0.7% |
| Land and buildings | 22 | €870,904 | €868,007 | -€2,897 | -0.3% |
| Plant, machinery and equipment | 23 | - | €11,564 | +€11,564 | |
| Furniture and vehicles | 24 | €35,501 | €20,793 | -€14,708 | -41.4% |
| Current assets | 29/58 | €218,726 | €218,648 | -€78 | 0.0% |
| Amounts receivable within one year | 40/41 | €34,939 | €38,081 | +€3,142 | +9.0% |
| Trade receivables | 40 | €34,939 | €38,081 | +€3,142 | +9.0% |
| Current investments | 50/53 | €100,000 | €150,000 | +€50,000 | +50.0% |
| Cash at bank and in hand | 54/58 | €79,466 | €26,487 | -€52,978 | -66.7% |
| Deferred charges and accrued income | 490/1 | €4,322 | €4,080 | -€242 | -5.6% |
| Total equity and liabilities | 10/49 | €1,125,131 | €1,119,011 | -€6,120 | -0.5% |
| Equity | 10/15 | €231,098 | €139,817 | -€91,281 | -39.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €226,098 | €134,817 | -€91,281 | -40.4% |
| Amounts payable | 17/49 | €894,033 | €979,194 | +€85,161 | +9.5% |
| Amounts payable after more than one year | 17 | €787,257 | €754,274 | -€32,983 | -4.2% |
| Financial debts | 170/4 | €787,257 | €754,274 | -€32,983 | -4.2% |
| Amounts payable within one year | 42/48 | €106,776 | €224,920 | +€118,144 | +110.6% |
| Current portion of amounts payable after more than one year | 42 | €39,765 | €32,983 | -€6,782 | -17.1% |
| Financial debts | 43 | - | €12,172 | +€12,172 | |
| Credit institutions | 430/8 | - | €12,172 | +€12,172 | |
| Trade debts | 44 | €5,457 | €6,421 | +€964 | +17.7% |
| Suppliers | 440/4 | €5,457 | €6,421 | +€964 | +17.7% |
| Taxes, remuneration and social security | 45 | €61,129 | €21,796 | -€39,333 | -64.3% |
| Taxes | 450/3 | €61,129 | €21,796 | -€39,333 | -64.3% |
| Other amounts payable | 47/48 | €425 | €151,549 | +€151,124 | +35558.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €157,934 | €30,364 | -€127,570 | -80.8% |
| Other operating charges | 640/8 | €641 | €2,502 | +€1,861 | +290.1% |
| Non-recurring operating charges | 66A | €47,500 | €0 | -€47,500 | -100.0% |
| Gross operating margin | 9900 | €231,674 | €273,202 | +€41,528 | +17.9% |
| Operating profit (loss) | 9901 | €25,599 | €240,337 | +€214,738 | +838.9% |
| Financial income | 75/76B | €5,609 | €1,688 | -€3,921 | -69.9% |
| Recurring financial income | 75 | €5,609 | €1,688 | -€3,921 | -69.9% |
| Financial charges | 65/66B | €25,749 | €31,747 | +€5,998 | +23.3% |
| Recurring financial charges | 65 | €25,749 | €31,747 | +€5,998 | +23.3% |
| Profit (loss) for the period before taxes | 9903 | €5,459 | €210,278 | +€204,819 | +3752.1% |
| Income taxes | 67/77 | €4,535 | €51,559 | +€47,024 | +1037.0% |
| Profit (loss) for the period | 9904 | €924 | €158,719 | +€157,795 | +17074.0% |
| Profit (loss) for the period to be appropriated | 9905 | €924 | €158,719 | +€157,795 | +17074.0% |
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.