EMIDES: 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.
EMIDES
Largest movements
- Receivables within one year +€20,107
up €20,107 (+122.4%), from €16,424 to €36,531
of which Trade receivables: +€15,260
- Cash -€15,743
down €15,743 (-53.6%), from €29,393 to €13,651
mainly Receivables within one year (-€20,107) and Investment in fixed assets (net) (-€5,073)
- Tangible fixed assets -€7,821
down €7,821 (-7.0%), from €111,545 to €103,724
of which Land and buildings: -€12,429
- Other debts -€3,014
no longer reported in 2026 (was €3,014)
- Gross operating margin +€10,606
up €10,606 (+184.6%), from €5,744 to €16,350
- Other operating charges -€307
down €307 (-8.9%), from €3,455 to €3,148
- Depreciation +€169
up €169 (+1.3%), from €12,725 to €12,894
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €157,362 | €154,513 | -€2,849 | -1.8% |
| Fixed assets | 21/28 | €111,545 | €103,724 | -€7,821 | -7.0% |
| Tangible fixed assets | 22/27 | €111,545 | €103,724 | -€7,821 | -7.0% |
| Land and buildings | 22 | €109,861 | €97,432 | -€12,429 | -11.3% |
| Plant, machinery and equipment | 23 | €1,684 | €6,292 | +€4,608 | +273.6% |
| Current assets | 29/58 | €45,817 | €50,789 | +€4,972 | +10.9% |
| Amounts receivable within one year | 40/41 | €16,424 | €36,531 | +€20,107 | +122.4% |
| Trade receivables | 40 | €16,424 | €31,684 | +€15,260 | +92.9% |
| Other amounts receivable | 41 | - | €4,847 | +€4,847 | |
| Cash at bank and in hand | 54/58 | €29,393 | €13,651 | -€15,743 | -53.6% |
| Deferred charges and accrued income | 490/1 | - | €607 | +€607 | |
| Total equity and liabilities | 10/49 | €157,362 | €154,513 | -€2,849 | -1.8% |
| Equity | 10/15 | €152,361 | €152,548 | +€188 | +0.1% |
| Contributions | 10/11 | €124,000 | €124,000 | = | 0.0% |
| Capital | 10 | €124,000 | €124,000 | = | 0.0% |
| Issued capital | 100 | €124,000 | €124,000 | = | 0.0% |
| Reserves | 13 | €12,400 | €12,400 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,400 | €12,400 | = | 0.0% |
| Legal reserve | 130 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,961 | €16,148 | +€188 | +1.2% |
| Amounts payable | 17/49 | €5,002 | €1,965 | -€3,037 | -60.7% |
| Amounts payable within one year | 42/48 | €5,002 | €1,965 | -€3,037 | -60.7% |
| Trade debts | 44 | €753 | €1,960 | +€1,207 | +160.3% |
| Suppliers | 440/4 | €753 | €1,960 | +€1,207 | +160.3% |
| Taxes, remuneration and social security | 45 | €1,235 | €5 | -€1,230 | -99.6% |
| Taxes | 450/3 | €1,235 | €5 | -€1,230 | -99.6% |
| Other amounts payable | 47/48 | €3,014 | - | -€3,014 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,725 | €12,894 | +€169 | +1.3% |
| Other operating charges | 640/8 | €3,455 | €3,148 | -€307 | -8.9% |
| Gross operating margin | 9900 | €5,744 | €16,350 | +€10,606 | +184.6% |
| Operating profit (loss) | 9901 | -€10,436 | €307 | +€10,743 | |
| Financial charges | 65/66B | €176 | €119 | -€57 | -32.3% |
| Recurring financial charges | 65 | €176 | €119 | -€57 | -32.3% |
| Profit (loss) for the period before taxes | 9903 | -€10,612 | €188 | +€10,800 | |
| Profit (loss) for the period | 9904 | -€10,612 | €188 | +€10,800 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,612 | €188 | +€10,800 |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.