EMICO: 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.
EMICO
Largest movements
- Receivables within one year +€30,893
up €30,893 (+23.0%), from €134,404 to €165,297
of which Trade receivables: +€19,425
- Stocks and contracts -€16,000
no longer reported in 2025 (was €16,000)
- Tangible fixed assets -€13,023
down €13,023 (-17.2%), from €75,841 to €62,818
of which Land and buildings: -€7,012
- Deferred charges and accrued income +€11,852
up €11,852 (+408.1%), from €2,904 to €14,756
- Cash -€5,828
down €5,828 (-92.3%), from €6,316 to €487
mainly Receivables within one year (-€30,893) and Deferred charges and accrued income (-€11,852)
- Reserves +€7,333
up €7,333 (+3.5%), from €206,953 to €214,287
of which Distributable reserves: +€7,333
- Depreciation -€2,792
down €2,792 (-15.7%), from €17,805 to €15,013
- Gross operating margin +€1,944
up €1,944 (+8.6%), from €22,729 to €24,674
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 | €238,331 | €244,235 | +€5,904 | +2.5% |
| Formation expenses | 20 | €786 | - | -€786 | |
| Fixed assets | 21/28 | €77,921 | €63,694 | -€14,227 | -18.3% |
| Intangible fixed assets | 21 | €1,204 | - | -€1,204 | |
| Tangible fixed assets | 22/27 | €75,841 | €62,818 | -€13,023 | -17.2% |
| Land and buildings | 22 | €66,553 | €59,540 | -€7,012 | -10.5% |
| Furniture and vehicles | 24 | €9,288 | €3,277 | -€6,011 | -64.7% |
| Financial fixed assets | 28 | €876 | €876 | = | 0.0% |
| Current assets | 29/58 | €159,624 | €180,541 | +€20,917 | +13.1% |
| Stocks and contracts in progress | 3 | €16,000 | - | -€16,000 | |
| Contracts in progress | 37 | €16,000 | - | -€16,000 | |
| Amounts receivable within one year | 40/41 | €134,404 | €165,297 | +€30,893 | +23.0% |
| Trade receivables | 40 | €6,787 | €26,212 | +€19,425 | +286.2% |
| Other amounts receivable | 41 | €127,618 | €139,085 | +€11,468 | +9.0% |
| Cash at bank and in hand | 54/58 | €6,316 | €487 | -€5,828 | -92.3% |
| Deferred charges and accrued income | 490/1 | €2,904 | €14,756 | +€11,852 | +408.1% |
| Total equity and liabilities | 10/49 | €238,331 | €244,235 | +€5,904 | +2.5% |
| Equity | 10/15 | €225,553 | €232,887 | +€7,333 | +3.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €206,953 | €214,287 | +€7,333 | +3.5% |
| 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 | €205,093 | €212,427 | +€7,333 | +3.6% |
| Amounts payable | 17/49 | €12,778 | €11,348 | -€1,430 | -11.2% |
| Amounts payable after more than one year | 17 | €327 | €316 | -€10 | -3.2% |
| Other amounts payable | 178/9 | €327 | €316 | -€10 | -3.2% |
| Amounts payable within one year | 42/48 | €7,118 | €5,699 | -€1,419 | -19.9% |
| Current portion of amounts payable after more than one year | 42 | €1,562 | - | -€1,562 | |
| Trade debts | 44 | €4,617 | €5,291 | +€674 | +14.6% |
| Suppliers | 440/4 | €4,617 | €5,291 | +€674 | +14.6% |
| Taxes, remuneration and social security | 45 | €938 | €408 | -€531 | -56.6% |
| Taxes | 450/3 | €938 | €408 | -€531 | -56.6% |
| Accrued charges and deferred income | 492/3 | €5,333 | €5,333 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,805 | €15,013 | -€2,792 | -15.7% |
| Other operating charges | 640/8 | €2,125 | €2,023 | -€102 | -4.8% |
| Gross operating margin | 9900 | €22,729 | €24,674 | +€1,944 | +8.6% |
| Operating profit (loss) | 9901 | €2,800 | €7,637 | +€4,838 | +172.8% |
| Financial charges | 65/66B | €360 | €129 | -€231 | -64.1% |
| Recurring financial charges | 65 | €360 | €129 | -€231 | -64.1% |
| Profit (loss) for the period before taxes | 9903 | €2,439 | €7,508 | +€5,069 | +207.8% |
| Income taxes | 67/77 | €164 | €174 | +€10 | +6.1% |
| Profit (loss) for the period | 9904 | €2,275 | €7,333 | +€5,059 | +222.4% |
| Profit (loss) for the period to be appropriated | 9905 | €2,275 | €7,333 | +€5,059 | +222.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.