émiel: 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.
émiel
Largest movements
- Current investments +€61,736
up €61,736 (+365%), from €16,903 to €78,639
- Tangible fixed assets -€9,673
down €9,673 (-26.7%), from €36,188 to €26,516
- Receivables within one year -€7,309
down €7,309 (-7.2%), from €101,669 to €94,360
of which Other amounts receivable: -€7,346
- Reserves +€40,097
up €40,097 (+32.4%), from €123,634 to €163,731
of which Distributable reserves: +€40,097
- Tax, wage and social debts +€8,674
up €8,674 (+157%), from €5,517 to €14,191
- Debts after one year -€8,413
down €8,413 (-83.0%), from €10,133 to €1,719
- Other debts +€8,088
up €8,088 (+160%), from €5,050 to €13,138
- Current portion of long-term debt -€3,903
down €3,903 (-36.8%), from €10,597 to €6,694
- Gross operating margin -€44,383
down €44,383 (-33.9%), from €130,752 to €86,370
- Taxes -€9,059
down €9,059 (-29.9%), from €30,337 to €21,278
- Depreciation -€3,069
down €3,069 (-22.6%), from €13,567 to €10,498
- Financial charges -€2,011
down €2,011 (-73.4%), from €2,739 to €728
- Other operating charges -€1,744
down €1,744 (-34.7%), from €5,031 to €3,288
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.
Derived cash bridge
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 | €166,146 | €208,719 | +€42,572 | +25.6% |
| Fixed assets | 21/28 | €39,282 | €28,784 | -€10,498 | -26.7% |
| Intangible fixed assets | 21 | €3,094 | €2,269 | -€825 | -26.7% |
| Tangible fixed assets | 22/27 | €36,188 | €26,516 | -€9,673 | -26.7% |
| Land and buildings | 22 | €26,949 | €23,099 | -€3,850 | -14.3% |
| Plant, machinery and equipment | 23 | €6,012 | €3,022 | -€2,989 | -49.7% |
| Furniture and vehicles | 24 | €732 | €394 | -€338 | -46.2% |
| Leasing and similar rights | 25 | €2,496 | - | -€2,496 | |
| Current assets | 29/58 | €126,864 | €179,934 | +€53,070 | +41.8% |
| Stocks and contracts in progress | 3 | €3,800 | €3,800 | = | 0.0% |
| Stocks | 30/36 | €3,800 | €3,800 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €101,669 | €94,360 | -€7,309 | -7.2% |
| Trade receivables | 40 | €10,121 | €10,158 | +€37 | +0.4% |
| Other amounts receivable | 41 | €91,547 | €84,202 | -€7,346 | -8.0% |
| Current investments | 50/53 | €16,903 | €78,639 | +€61,736 | +365% |
| Cash at bank and in hand | 54/58 | €2,933 | €1,382 | -€1,551 | -52.9% |
| Deferred charges and accrued income | 490/1 | €1,560 | €1,754 | +€194 | +12.4% |
| Total equity and liabilities | 10/49 | €166,146 | €208,719 | +€42,572 | +25.6% |
| Equity | 10/15 | €129,834 | €169,931 | +€40,097 | +30.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €123,634 | €163,731 | +€40,097 | +32.4% |
| 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 | €121,774 | €161,871 | +€40,097 | +32.9% |
| Amounts payable | 17/49 | €36,312 | €38,788 | +€2,476 | +6.8% |
| Amounts payable after more than one year | 17 | €10,133 | €1,719 | -€8,413 | -83.0% |
| Financial debts | 170/4 | €10,133 | €1,719 | -€8,413 | -83.0% |
| Amounts payable within one year | 42/48 | €26,179 | €37,068 | +€10,889 | +41.6% |
| Current portion of amounts payable after more than one year | 42 | €10,597 | €6,694 | -€3,903 | -36.8% |
| Financial debts | 43 | €61 | €103 | +€42 | +68.9% |
| Credit institutions | 430/8 | €61 | €103 | +€42 | +68.9% |
| Trade debts | 44 | €4,771 | €2,942 | -€1,830 | -38.3% |
| Suppliers | 440/4 | €4,771 | €2,942 | -€1,830 | -38.3% |
| Advances received on contracts in progress | 46 | €183 | - | -€183 | |
| Taxes, remuneration and social security | 45 | €5,517 | €14,191 | +€8,674 | +157% |
| Taxes | 450/3 | €5,517 | €14,191 | +€8,674 | +157% |
| Other amounts payable | 47/48 | €5,050 | €13,138 | +€8,088 | +160% |
| Non-recurring operating income | 76A | €1,826 | - | -€1,826 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,567 | €10,498 | -€3,069 | -22.6% |
| Other operating charges | 640/8 | €5,031 | €3,288 | -€1,744 | -34.7% |
| Gross operating margin | 9900 | €130,752 | €86,370 | -€44,383 | -33.9% |
| Operating profit (loss) | 9901 | €112,154 | €72,584 | -€39,570 | -35.3% |
| Financial income | 75/76B | €2,426 | €2,607 | +€181 | +7.5% |
| Recurring financial income | 75 | €2,426 | €2,607 | +€181 | +7.5% |
| Financial charges | 65/66B | €2,739 | €728 | -€2,011 | -73.4% |
| Recurring financial charges | 65 | €2,739 | €728 | -€2,011 | -73.4% |
| Profit (loss) for the period before taxes | 9903 | €111,841 | €74,463 | -€37,378 | -33.4% |
| Income taxes | 67/77 | €30,337 | €21,278 | -€9,059 | -29.9% |
| Profit (loss) for the period | 9904 | €81,504 | €53,185 | -€28,318 | -34.7% |
| Profit (loss) for the period to be appropriated | 9905 | €81,504 | €53,185 | -€28,318 | -34.7% |
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 30 October 2026 via checked.be.