Emipau: 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.
Emipau
Largest movements
- Cash +€26,879
up €26,879 (+890.4%), from €3,019 to €29,898
mainly Net result for the year (+€16,776) and Depreciation (+€9,124)
- Tangible fixed assets -€9,124
down €9,124 (-32.1%), from €28,432 to €19,308
- Receivables within one year -€6,865
down €6,865 (-43.2%), from €15,890 to €9,025
of which Other amounts receivable: -€5,295
- Deferred charges and accrued income +€2,287
up €2,287 (+526.2%), from €435 to €2,722
- Reserves +€16,776
up €16,776 (+140.7%), from €11,920 to €28,696
- Debts after one year -€9,493
down €9,493 (-46.8%), from €20,276 to €10,783
- Tax, wage and social debts +€3,536
up €3,536 (+80.7%), from €4,381 to €7,917
- Current portion of long-term debt +€1,476
up €1,476 (+17.7%), from €8,330 to €9,806
- Trade debts +€956
up €956 (+325.0%), from €294 to €1,250
- Gross operating margin +€25,708
up €25,708 (+341.2%), from €7,535 to €33,243
- Taxes +€4,054
up €4,054 (+2235.4%), from €181 to €4,235
- Other operating charges -€1,182
down €1,182 (-37.2%), from €3,179 to €1,997
- Financial charges -€376
down €376 (-21.4%), from €1,755 to €1,379
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 | €47,776 | €60,953 | +€13,177 | +27.6% |
| Fixed assets | 21/28 | €28,432 | €19,308 | -€9,124 | -32.1% |
| Tangible fixed assets | 22/27 | €28,432 | €19,308 | -€9,124 | -32.1% |
| Leasing and similar rights | 25 | €28,432 | €19,308 | -€9,124 | -32.1% |
| Current assets | 29/58 | €19,344 | €41,645 | +€22,301 | +115.3% |
| Amounts receivable within one year | 40/41 | €15,890 | €9,025 | -€6,865 | -43.2% |
| Trade receivables | 40 | €7,253 | €5,683 | -€1,570 | -21.7% |
| Other amounts receivable | 41 | €8,637 | €3,342 | -€5,295 | -61.3% |
| Cash at bank and in hand | 54/58 | €3,019 | €29,898 | +€26,879 | +890.4% |
| Deferred charges and accrued income | 490/1 | €435 | €2,722 | +€2,287 | +526.2% |
| Total equity and liabilities | 10/49 | €47,776 | €60,953 | +€13,177 | +27.6% |
| Equity | 10/15 | €14,420 | €31,196 | +€16,776 | +116.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €11,920 | €28,696 | +€16,776 | +140.7% |
| Distributable reserves | 133 | €11,920 | €28,696 | +€16,776 | +140.7% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €33,356 | €29,757 | -€3,598 | -10.8% |
| Amounts payable after more than one year | 17 | €20,276 | €10,783 | -€9,493 | -46.8% |
| Financial debts | 170/4 | €20,276 | €10,783 | -€9,493 | -46.8% |
| Amounts payable within one year | 42/48 | €13,005 | €18,973 | +€5,968 | +45.9% |
| Current portion of amounts payable after more than one year | 42 | €8,330 | €9,806 | +€1,476 | +17.7% |
| Trade debts | 44 | €294 | €1,250 | +€956 | +325.0% |
| Suppliers | 440/4 | €294 | €1,250 | +€956 | +325.0% |
| Taxes, remuneration and social security | 45 | €4,381 | €7,917 | +€3,536 | +80.7% |
| Taxes | 450/3 | €4,381 | €7,917 | +€3,536 | +80.7% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €74 | €1 | -€73 | -98.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,124 | €9,124 | = | 0.0% |
| Other operating charges | 640/8 | €3,179 | €1,997 | -€1,182 | -37.2% |
| Gross operating margin | 9900 | €7,535 | €33,243 | +€25,708 | +341.2% |
| Operating profit (loss) | 9901 | -€4,769 | €22,121 | +€26,890 | |
| Financial income | 75/76B | €198 | €268 | +€70 | +35.0% |
| Recurring financial income | 75 | €198 | €268 | +€70 | +35.0% |
| Financial charges | 65/66B | €1,755 | €1,379 | -€376 | -21.4% |
| Recurring financial charges | 65 | €1,755 | €1,379 | -€376 | -21.4% |
| Profit (loss) for the period before taxes | 9903 | -€6,325 | €21,011 | +€27,336 | |
| Income taxes | 67/77 | €181 | €4,235 | +€4,054 | +2235.4% |
| Profit (loss) for the period | 9904 | -€6,506 | €16,776 | +€23,282 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,506 | €16,776 | +€23,282 |
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 3 October 2026 via checked.be.