Emirola: 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.
Emirola
Largest movements
- Receivables within one year +€38,876
up €38,876 (+238.5%), from €16,301 to €55,177
of which Trade receivables: +€29,412
- Cash -€22,100
down €22,100 (-61.7%), from €35,828 to €13,728
mainly Debts after one year (-€450,757) and Current portion of long-term debt (-€70,635)
- Debts after one year -€450,757
down €450,757 (-52.6%), from €856,657 to €405,900
- Reserves +€292,895
up €292,895 (+325.0%), from €90,133 to €383,028
- Other debts +€248,923
up €248,923 (+97.9%), from €254,228 to €503,151
- Current portion of long-term debt -€70,635
down €70,635 (-100.0%), from €70,635 to €0
- Financial income +€255,000
new in 2025: €255,000
- Gross operating margin +€19,221
up €19,221 (+29.7%), from €64,681 to €83,902
- Financial charges +€13,324
up €13,324 (+64.6%), from €20,618 to €33,942
- Taxes +€1,300
up €1,300 (+14.7%), from €8,824 to €10,124
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 | €1,282,424 | €1,302,885 | +€20,461 | +1.6% |
| Fixed assets | 21/28 | €1,230,295 | €1,230,423 | +€129 | 0.0% |
| Tangible fixed assets | 22/27 | €295 | €423 | +€129 | +43.7% |
| Furniture and vehicles | 24 | €295 | €423 | +€129 | +43.7% |
| Financial fixed assets | 28 | €1,230,000 | €1,230,000 | = | 0.0% |
| Current assets | 29/58 | €52,129 | €72,462 | +€20,333 | +39.0% |
| Amounts receivable within one year | 40/41 | €16,301 | €55,177 | +€38,876 | +238.5% |
| Trade receivables | 40 | €15,125 | €44,537 | +€29,412 | +194.5% |
| Other amounts receivable | 41 | €1,176 | €10,640 | +€9,464 | +804.8% |
| Cash at bank and in hand | 54/58 | €35,828 | €13,728 | -€22,100 | -61.7% |
| Deferred charges and accrued income | 490/1 | - | €3,557 | +€3,557 | |
| Total equity and liabilities | 10/49 | €1,282,424 | €1,302,885 | +€20,461 | +1.6% |
| Equity | 10/15 | €91,633 | €384,528 | +€292,895 | +319.6% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €90,133 | €383,028 | +€292,895 | +325.0% |
| Distributable reserves | 133 | €90,133 | €383,028 | +€292,895 | +325.0% |
| Amounts payable | 17/49 | €1,190,791 | €918,357 | -€272,434 | -22.9% |
| Amounts payable after more than one year | 17 | €856,657 | €405,900 | -€450,757 | -52.6% |
| Financial debts | 170/4 | €856,657 | €405,900 | -€450,757 | -52.6% |
| Amounts payable within one year | 42/48 | €334,134 | €512,457 | +€178,323 | +53.4% |
| Current portion of amounts payable after more than one year | 42 | €70,635 | €0 | -€70,635 | -100.0% |
| Trade debts | 44 | €1,598 | €1,977 | +€379 | +23.7% |
| Suppliers | 440/4 | €1,598 | €1,977 | +€379 | +23.7% |
| Taxes, remuneration and social security | 45 | €7,673 | €7,329 | -€344 | -4.5% |
| Taxes | 450/3 | €7,673 | €7,329 | -€344 | -4.5% |
| Other amounts payable | 47/48 | €254,228 | €503,151 | +€248,923 | +97.9% |
| Non-recurring operating income | 76A | €12,724 | €0 | -€12,724 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €261 | €202 | -€59 | -22.5% |
| Other operating charges | 640/8 | €1,579 | €1,444 | -€134 | -8.5% |
| Non-recurring operating charges | 66A | - | €295 | +€295 | |
| Gross operating margin | 9900 | €64,681 | €83,902 | +€19,221 | +29.7% |
| Operating profit (loss) | 9901 | €62,841 | €81,961 | +€19,120 | +30.4% |
| Financial income | 75/76B | - | €255,000 | +€255,000 | |
| Recurring financial income | 75 | - | €255,000 | +€255,000 | |
| Financial charges | 65/66B | €20,618 | €33,942 | +€13,324 | +64.6% |
| Recurring financial charges | 65 | €20,618 | €33,942 | +€13,324 | +64.6% |
| Profit (loss) for the period before taxes | 9903 | €42,223 | €303,019 | +€260,796 | +617.7% |
| Income taxes | 67/77 | €8,824 | €10,124 | +€1,300 | +14.7% |
| Profit (loss) for the period | 9904 | €33,399 | €292,895 | +€259,496 | +777.0% |
| Profit (loss) for the period to be appropriated | 9905 | €33,399 | €292,895 | +€259,496 | +777.0% |
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 9 October 2026 via checked.be.