EMIGEST: 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.
EMIGEST
Largest movements
- Current investments +€68,000
up €68,000 (+97.1%), from €70,000 to €138,000
- Receivables within one year -€50,119
down €50,119 (-99.5%), from €50,358 to €239
- Cash +€32,418
up €32,418 (+38.1%), from €85,108 to €117,526
mainly Net result for the year (+€126,268) and Other debts (+€80,030)
- Other debts +€80,030
up €80,030 (+103%), from €77,419 to €157,450
- Reserves -€31,182
down €31,182 (-6.5%), from €477,006 to €445,824
of which Distributable reserves: -€31,182
- Gross operating margin -€136,378
down €136,378 (-41.9%), from €325,363 to €188,986
- Taxes -€37,094
down €37,094 (-38.0%), from €97,611 to €60,516
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 | €623,121 | €672,327 | +€49,206 | +7.9% |
| Fixed assets | 21/28 | €414,930 | €416,445 | +€1,515 | +0.4% |
| Tangible fixed assets | 22/27 | €978 | €2,494 | +€1,515 | +155% |
| Furniture and vehicles | 24 | €978 | €2,494 | +€1,515 | +155% |
| Financial fixed assets | 28 | €413,952 | €413,952 | = | 0.0% |
| Current assets | 29/58 | €208,191 | €255,881 | +€47,691 | +22.9% |
| Amounts receivable within one year | 40/41 | €50,358 | €239 | -€50,119 | -99.5% |
| Other amounts receivable | 41 | €50,358 | €239 | -€50,119 | -99.5% |
| Current investments | 50/53 | €70,000 | €138,000 | +€68,000 | +97.1% |
| Cash at bank and in hand | 54/58 | €85,108 | €117,526 | +€32,418 | +38.1% |
| Deferred charges and accrued income | 490/1 | €2,725 | €117 | -€2,608 | -95.7% |
| Total equity and liabilities | 10/49 | €623,121 | €672,327 | +€49,206 | +7.9% |
| Equity | 10/15 | €517,926 | €486,744 | -€31,182 | -6.0% |
| Contributions | 10/11 | €40,920 | €40,920 | = | 0.0% |
| Reserves | 13 | €477,006 | €445,824 | -€31,182 | -6.5% |
| Non-distributable reserves | 130/1 | €0 | €0 | = | |
| Reserves not available under the articles | 1311 | €0 | €0 | = | |
| Distributable reserves | 133 | €477,006 | €445,824 | -€31,182 | -6.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €105,194 | €185,582 | +€80,388 | +76.4% |
| Amounts payable after more than one year | 17 | €0 | €0 | = | |
| Financial debts | 170/4 | €0 | €0 | = | |
| Amounts payable within one year | 42/48 | €105,178 | €185,582 | +€80,404 | +76.4% |
| Current portion of amounts payable after more than one year | 42 | €0 | €0 | = | |
| Trade debts | 44 | €210 | €170 | -€40 | -19.1% |
| Suppliers | 440/4 | €210 | €170 | -€40 | -19.1% |
| Taxes, remuneration and social security | 45 | €27,548 | €27,963 | +€414 | +1.5% |
| Taxes | 450/3 | €27,548 | €27,963 | +€414 | +1.5% |
| Remuneration and social security | 454/9 | €0 | €0 | = | |
| Other amounts payable | 47/48 | €77,419 | €157,450 | +€80,030 | +103% |
| Accrued charges and deferred income | 492/3 | €16 | €0 | -€16 | -100% |
| Turnover | 70 | €0 | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | €0 | = | |
| Remuneration, social security and pensions | 62 | €1,603 | €1,534 | -€69 | -4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €826 | €910 | +€84 | +10.2% |
| Other operating charges | 640/8 | €731 | €968 | +€237 | +32.4% |
| Gross operating margin | 9900 | €325,363 | €188,986 | -€136,378 | -41.9% |
| Operating profit (loss) | 9901 | €322,203 | €185,573 | -€136,630 | -42.4% |
| Financial income | 75/76B | €3,567 | €1,368 | -€2,199 | -61.6% |
| Recurring financial income | 75 | €3,567 | €1,368 | -€2,199 | -61.6% |
| Financial charges | 65/66B | €323 | €157 | -€166 | -51.5% |
| Recurring financial charges | 65 | €323 | €157 | -€166 | -51.5% |
| Profit (loss) for the period before taxes | 9903 | €325,446 | €186,784 | -€138,662 | -42.6% |
| Income taxes | 67/77 | €97,611 | €60,516 | -€37,094 | -38.0% |
| Profit (loss) for the period | 9904 | €227,835 | €126,268 | -€101,568 | -44.6% |
| Transfer from tax-exempt reserves | 789 | €0 | €0 | = | |
| Profit (loss) for the period to be appropriated | 9905 | €227,835 | €126,268 | -€101,568 | -44.6% |
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 14 October 2026 via checked.be.