EMILO: 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.
EMILO
Largest movements
- Receivables within one year +€28,162
up €28,162 (+35.7%), from €78,793 to €106,955
- Cash +€27,036
up €27,036 (+35.7%), from €75,751 to €102,787
mainly Net result for the year (+€86,933) and Debts after one year (+€12,009)
- Tangible fixed assets -€9,466
down €9,466 (-5.5%), from €172,914 to €163,449
of which Other tangible fixed assets: -€5,018
- Reserves +€30,956
up €30,956 (+11.4%), from €270,521 to €301,477
of which Distributable reserves: +€30,956
- Debts after one year +€12,009
up €12,009 (+10.3%), from €116,590 to €128,599
of which Other amounts payable: +€23,882
- Tax, wage and social debts +€5,994
up €5,994 (+42.9%), from €13,962 to €19,956
- Gross operating margin +€33,737
up €33,737 (+33.8%), from €99,817 to €133,554
- Taxes +€9,601
up €9,601 (+38.2%), from €25,165 to €34,765
- Depreciation +€2,740
up €2,740 (+40.7%), from €6,725 to €9,466
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 | €433,084 | €483,169 | +€50,085 | +11.6% |
| Fixed assets | 21/28 | €172,914 | €163,449 | -€9,466 | -5.5% |
| Tangible fixed assets | 22/27 | €172,914 | €163,449 | -€9,466 | -5.5% |
| Land and buildings | 22 | €151,675 | €148,287 | -€3,388 | -2.2% |
| Furniture and vehicles | 24 | €1,355 | €295 | -€1,060 | -78.2% |
| Other tangible fixed assets | 26 | €19,885 | €14,867 | -€5,018 | -25.2% |
| Current assets | 29/58 | €260,169 | €319,720 | +€59,550 | +22.9% |
| Amounts receivable after more than one year | 29 | €90,000 | €90,000 | = | 0.0% |
| Other amounts receivable | 291 | €90,000 | €90,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €78,793 | €106,955 | +€28,162 | +35.7% |
| Trade receivables | 40 | €78,793 | €106,955 | +€28,162 | +35.7% |
| Cash at bank and in hand | 54/58 | €75,751 | €102,787 | +€27,036 | +35.7% |
| Deferred charges and accrued income | 490/1 | €15,626 | €19,979 | +€4,353 | +27.9% |
| Total equity and liabilities | 10/49 | €433,084 | €483,169 | +€50,085 | +11.6% |
| Equity | 10/15 | €289,121 | €320,077 | +€30,956 | +10.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €270,521 | €301,477 | +€30,956 | +11.4% |
| Non-distributable reserves | 130/1 | €1,404 | €1,404 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,404 | €1,404 | = | 0.0% |
| Distributable reserves | 133 | €269,117 | €300,073 | +€30,956 | +11.5% |
| Amounts payable | 17/49 | €143,963 | €163,092 | +€19,129 | +13.3% |
| Amounts payable after more than one year | 17 | €116,590 | €128,599 | +€12,009 | +10.3% |
| Financial debts | 170/4 | €107,364 | €95,491 | -€11,873 | -11.1% |
| Other amounts payable | 178/9 | €9,226 | €33,108 | +€23,882 | +258.9% |
| Amounts payable within one year | 42/48 | €27,372 | €34,492 | +€7,120 | +26.0% |
| Current portion of amounts payable after more than one year | 42 | €11,681 | €11,873 | +€192 | +1.6% |
| Trade debts | 44 | €63 | €997 | +€934 | +1488.3% |
| Suppliers | 440/4 | €63 | €997 | +€934 | +1488.3% |
| Taxes, remuneration and social security | 45 | €13,962 | €19,956 | +€5,994 | +42.9% |
| Taxes | 450/3 | €13,962 | €19,956 | +€5,994 | +42.9% |
| Other amounts payable | 47/48 | €1,666 | €1,666 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,725 | €9,466 | +€2,740 | +40.7% |
| Other operating charges | 640/8 | €1,039 | €973 | -€66 | -6.4% |
| Gross operating margin | 9900 | €99,817 | €133,554 | +€33,737 | +33.8% |
| Operating profit (loss) | 9901 | €92,052 | €123,116 | +€31,063 | +33.7% |
| Financial income | 75/76B | €2,950 | €2,550 | -€401 | -13.6% |
| Recurring financial income | 75 | €2,950 | €2,550 | -€401 | -13.6% |
| Financial charges | 65/66B | €4,963 | €3,967 | -€995 | -20.1% |
| Recurring financial charges | 65 | €4,963 | €3,967 | -€995 | -20.1% |
| Profit (loss) for the period before taxes | 9903 | €90,040 | €121,698 | +€31,658 | +35.2% |
| Income taxes | 67/77 | €25,165 | €34,765 | +€9,601 | +38.2% |
| Profit (loss) for the period | 9904 | €64,876 | €86,933 | +€22,057 | +34.0% |
| Profit (loss) for the period to be appropriated | 9905 | €64,876 | €86,933 | +€22,057 | +34.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.