EMIROV: 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.
EMIROV
Largest movements
- Receivables within one year -€13,302
down €13,302 (-34.5%), from €38,535 to €25,233
- Cash +€6,508
up €6,508 (+8.3%), from €78,711 to €85,219
mainly Receivables within one year (+€13,302) and Depreciation (+€12,934)
- Tangible fixed assets -€6,185
down €6,185 (-45.8%), from €13,512 to €7,327
of which Plant, machinery and equipment: -€4,700
- Intangible fixed assets -€3,500
down €3,500 (-19.4%), from €18,083 to €14,583
- Tax, wage and social debts -€17,203
down €17,203 (-61.2%), from €28,102 to €10,899
of which Remuneration and social security: -€12,126
- Other debts -€14,234
down €14,234 (-99.6%), from €14,295 to €61
- Trade debts +€9,933
up €9,933 (+238.4%), from €4,166 to €14,100
- Profit (loss) carried forward +€2,519
up €2,519 (+3.3%), from €75,691 to €78,209
- Short-term financial debts +€2,509
up €2,509 (+18.2%), from €13,791 to €16,300
- Gross operating margin -€32,135
down €32,135 (-28.4%), from €113,063 to €80,928
- Depreciation -€9,998
down €9,998 (-43.6%), from €22,932 to €12,934
- Staff costs +€8,143
up €8,143 (+17.4%), from €46,833 to €54,976
- Financial income +€1,651
up €1,651 (+32821.9%), from €5 to €1,656
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 | €149,839 | €133,363 | -€16,476 | -11.0% |
| Fixed assets | 21/28 | €32,327 | €22,642 | -€9,685 | -30.0% |
| Intangible fixed assets | 21 | €18,083 | €14,583 | -€3,500 | -19.4% |
| Tangible fixed assets | 22/27 | €13,512 | €7,327 | -€6,185 | -45.8% |
| Land and buildings | 22 | €3,524 | €2,039 | -€1,485 | -42.1% |
| Plant, machinery and equipment | 23 | €9,988 | €5,288 | -€4,700 | -47.1% |
| Financial fixed assets | 28 | €732 | €732 | = | 0.0% |
| Current assets | 29/58 | €117,511 | €110,721 | -€6,790 | -5.8% |
| Amounts receivable within one year | 40/41 | €38,535 | €25,233 | -€13,302 | -34.5% |
| Other amounts receivable | 41 | €38,535 | €25,233 | -€13,302 | -34.5% |
| Cash at bank and in hand | 54/58 | €78,711 | €85,219 | +€6,508 | +8.3% |
| Deferred charges and accrued income | 490/1 | €265 | €268 | +€3 | +1.2% |
| Total equity and liabilities | 10/49 | €149,839 | €133,363 | -€16,476 | -11.0% |
| Equity | 10/15 | €87,758 | €90,276 | +€2,519 | +2.9% |
| Contributions | 10/11 | €10,970 | €10,970 | = | 0.0% |
| Outside capital | 11 | €10,970 | - | -€10,970 | |
| Other | 1109/19 | €10,970 | - | -€10,970 | |
| Reserves | 13 | €1,097 | €1,097 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,097 | €1,097 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,097 | €1,097 | = | 0.0% |
| Profit (loss) carried forward | 14 | €75,691 | €78,209 | +€2,519 | +3.3% |
| Amounts payable | 17/49 | €62,081 | €43,086 | -€18,995 | -30.6% |
| Amounts payable within one year | 42/48 | €62,081 | €43,086 | -€18,995 | -30.6% |
| Current portion of amounts payable after more than one year | 42 | €1,727 | €1,727 | = | 0.0% |
| Financial debts | 43 | €13,791 | €16,300 | +€2,509 | +18.2% |
| Credit institutions | 430/8 | €13,791 | €16,300 | +€2,509 | +18.2% |
| Trade debts | 44 | €4,166 | €14,100 | +€9,933 | +238.4% |
| Suppliers | 440/4 | €4,166 | €14,100 | +€9,933 | +238.4% |
| Taxes, remuneration and social security | 45 | €28,102 | €10,899 | -€17,203 | -61.2% |
| Taxes | 450/3 | €15,263 | €10,185 | -€5,077 | -33.3% |
| Remuneration and social security | 454/9 | €12,840 | €714 | -€12,126 | -94.4% |
| Other amounts payable | 47/48 | €14,295 | €61 | -€14,234 | -99.6% |
| Remuneration, social security and pensions | 62 | €46,833 | €54,976 | +€8,143 | +17.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,932 | €12,934 | -€9,998 | -43.6% |
| Other operating charges | 640/8 | €3,789 | €4,234 | +€445 | +11.7% |
| Gross operating margin | 9900 | €113,063 | €80,928 | -€32,135 | -28.4% |
| Operating profit (loss) | 9901 | €39,509 | €8,785 | -€30,724 | -77.8% |
| Financial income | 75/76B | €5 | €1,656 | +€1,651 | +32821.9% |
| Recurring financial income | 75 | €5 | €1,656 | +€1,651 | +32821.9% |
| Financial charges | 65/66B | €2,465 | €3,217 | +€752 | +30.5% |
| Recurring financial charges | 65 | €2,465 | €3,217 | +€752 | +30.5% |
| Profit (loss) for the period before taxes | 9903 | €37,049 | €7,224 | -€29,825 | -80.5% |
| Income taxes | 67/77 | €3,850 | €4,705 | +€855 | +22.2% |
| Profit (loss) for the period | 9904 | €33,199 | €2,519 | -€30,680 | -92.4% |
| Profit (loss) for the period to be appropriated | 9905 | €33,199 | €2,519 | -€30,680 | -92.4% |
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 30 September 2026 via checked.be.