EMIRKAN: 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.
EMIRKAN
Largest movements
- Receivables within one year +€62,584
up €62,584 (+190.6%), from €32,842 to €95,426
of which Other amounts receivable: +€52,914
- Tangible fixed assets +€27,787
up €27,787 (+102.8%), from €27,031 to €54,818
of which Furniture and vehicles: +€34,588
- Cash -€15,791
down €15,791 (-93.5%), from €16,898 to €1,106
mainly Receivables within one year (-€62,584) and Investment in fixed assets (net) (-€39,000)
- Stocks and contracts -€2,478
down €2,478 (-38.7%), from €6,398 to €3,920
- Trade debts +€21,526
up €21,526 (+90.5%), from €23,791 to €45,317
- Debts after one year +€18,026
up €18,026 (+86.1%), from €20,926 to €38,953
- Reserves +€14,016
up €14,016 (+68.6%), from €20,439 to €34,455
- Advances received +€10,600
up €10,600 (+66.7%), from €15,900 to €26,500
- Current portion of long-term debt +€5,648
up €5,648 (+105.6%), from €5,351 to €10,999
- Gross operating margin +€61,373
up €61,373 (+489.5%), from €12,537 to €73,910
- Taxes +€31,615
up €31,615 (+11103.1%), from €285 to €31,900
- Staff costs +€7,012
up €7,012 (+3132.7%), from €224 to €7,236
- Depreciation +€5,111
up €5,111 (+83.8%), from €6,102 to €11,213
- Other operating charges +€2,767
up €2,767 (+98.2%), from €2,818 to €5,585
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 | €86,710 | €158,197 | +€71,486 | +82.4% |
| Fixed assets | 21/28 | €27,281 | €55,068 | +€27,787 | +101.9% |
| Tangible fixed assets | 22/27 | €27,031 | €54,818 | +€27,787 | +102.8% |
| Plant, machinery and equipment | 23 | €26,633 | €19,831 | -€6,802 | -25.5% |
| Furniture and vehicles | 24 | €398 | €34,987 | +€34,588 | +8682.4% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €59,429 | €103,129 | +€43,700 | +73.5% |
| Stocks and contracts in progress | 3 | €6,398 | €3,920 | -€2,478 | -38.7% |
| Stocks | 30/36 | €6,398 | €3,920 | -€2,478 | -38.7% |
| Amounts receivable within one year | 40/41 | €32,842 | €95,426 | +€62,584 | +190.6% |
| Trade receivables | 40 | €26,500 | €36,170 | +€9,670 | +36.5% |
| Other amounts receivable | 41 | €6,342 | €59,256 | +€52,914 | +834.4% |
| Cash at bank and in hand | 54/58 | €16,898 | €1,106 | -€15,791 | -93.5% |
| Deferred charges and accrued income | 490/1 | €3,292 | €2,677 | -€615 | -18.7% |
| Total equity and liabilities | 10/49 | €86,710 | €158,197 | +€71,486 | +82.4% |
| Equity | 10/15 | €20,439 | €34,455 | +€14,016 | +68.6% |
| Reserves | 13 | €20,439 | €34,455 | +€14,016 | +68.6% |
| Distributable reserves | 133 | €20,439 | €34,455 | +€14,016 | +68.6% |
| Amounts payable | 17/49 | €66,272 | €123,741 | +€57,470 | +86.7% |
| Amounts payable after more than one year | 17 | €20,926 | €38,953 | +€18,026 | +86.1% |
| Financial debts | 170/4 | €20,926 | €38,953 | +€18,026 | +86.1% |
| Amounts payable within one year | 42/48 | €45,327 | €84,789 | +€39,462 | +87.1% |
| Current portion of amounts payable after more than one year | 42 | €5,351 | €10,999 | +€5,648 | +105.6% |
| Trade debts | 44 | €23,791 | €45,317 | +€21,526 | +90.5% |
| Suppliers | 440/4 | €23,791 | €45,317 | +€21,526 | +90.5% |
| Advances received on contracts in progress | 46 | €15,900 | €26,500 | +€10,600 | +66.7% |
| Taxes, remuneration and social security | 45 | €285 | €1,973 | +€1,688 | +592.9% |
| Taxes | 450/3 | €285 | €1,973 | +€1,688 | +592.9% |
| Accrued charges and deferred income | 492/3 | €18 | - | -€18 | |
| Remuneration, social security and pensions | 62 | €224 | €7,236 | +€7,012 | +3132.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,102 | €11,213 | +€5,111 | +83.8% |
| Other operating charges | 640/8 | €2,818 | €5,585 | +€2,767 | +98.2% |
| Gross operating margin | 9900 | €12,537 | €73,910 | +€61,373 | +489.5% |
| Operating profit (loss) | 9901 | €3,394 | €49,876 | +€46,482 | +1369.6% |
| Financial income | 75/76B | €1 | €1 | +€1 | +158.0% |
| Recurring financial income | 75 | €1 | €1 | +€1 | +158.0% |
| Financial charges | 65/66B | €2,136 | €3,961 | +€1,825 | +85.5% |
| Recurring financial charges | 65 | €2,136 | €3,961 | +€1,825 | +85.5% |
| Profit (loss) for the period before taxes | 9903 | €1,258 | €45,916 | +€44,658 | +3548.6% |
| Income taxes | 67/77 | €285 | €31,900 | +€31,615 | +11103.1% |
| Profit (loss) for the period | 9904 | €974 | €14,016 | +€13,043 | +1339.5% |
| Profit (loss) for the period to be appropriated | 9905 | €974 | €14,016 | +€13,043 | +1339.5% |
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 5 October 2026 via checked.be.