EMISA: 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.
EMISA
Largest movements
- Current investments -€50,000
down €50,000 (-100.0%), from €50,000 to €0
- Cash +€25,789
up €25,789 (+14.1%), from €182,502 to €208,291
mainly Current investments (+€50,000) and Depreciation (+€11,411)
- Tangible fixed assets -€11,041
down €11,041 (-26.9%), from €40,993 to €29,952
- Receivables within one year -€4,054
down €4,054 (-89.6%), from €4,525 to €471
- Profit (loss) carried forward -€36,890
new in 2025: -€36,890
- Debts after one year -€6,039
down €6,039 (-35.4%), from €17,045 to €11,006
- Gross operating margin -€46,406
down €46,406, from €21,716 to -€24,689
- Depreciation -€5,185
down €5,185 (-31.2%), from €16,595 to €11,411
- Financial income -€2,269
down €2,269 (-58.4%), from €3,887 to €1,618
- Taxes -€1,861
down €1,861 (-99.2%), from €1,875 to €14
- Financial charges -€627
down €627 (-45.3%), from €1,384 to €757
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 | €281,129 | €239,958 | -€41,172 | -14.6% |
| Fixed assets | 21/28 | €41,799 | €30,388 | -€11,411 | -27.3% |
| Intangible fixed assets | 21 | €781 | €411 | -€370 | -47.3% |
| Tangible fixed assets | 22/27 | €40,993 | €29,952 | -€11,041 | -26.9% |
| Furniture and vehicles | 24 | €40,993 | €29,952 | -€11,041 | -26.9% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €239,330 | €209,570 | -€29,761 | -12.4% |
| Amounts receivable within one year | 40/41 | €4,525 | €471 | -€4,054 | -89.6% |
| Other amounts receivable | 41 | €4,525 | €471 | -€4,054 | -89.6% |
| Current investments | 50/53 | €50,000 | €0 | -€50,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €182,502 | €208,291 | +€25,789 | +14.1% |
| Deferred charges and accrued income | 490/1 | €2,303 | €807 | -€1,496 | -65.0% |
| Total equity and liabilities | 10/49 | €281,129 | €239,958 | -€41,172 | -14.6% |
| Equity | 10/15 | €75,532 | €38,642 | -€36,890 | -48.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €56,932 | €56,932 | = | 0.0% |
| Distributable reserves | 133 | €56,932 | €56,932 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€36,890 | -€36,890 | |
| Amounts payable | 17/49 | €205,597 | €201,316 | -€4,281 | -2.1% |
| Amounts payable after more than one year | 17 | €17,045 | €11,006 | -€6,039 | -35.4% |
| Financial debts | 170/4 | €17,045 | €11,006 | -€6,039 | -35.4% |
| Amounts payable within one year | 42/48 | €188,552 | €190,310 | +€1,758 | +0.9% |
| Current portion of amounts payable after more than one year | 42 | €5,864 | €6,039 | +€175 | +3.0% |
| Trade debts | 44 | €238 | €394 | +€156 | +65.8% |
| Suppliers | 440/4 | €238 | €394 | +€156 | +65.8% |
| Taxes, remuneration and social security | 45 | €420 | €0 | -€420 | -100.0% |
| Taxes | 450/3 | €420 | €0 | -€420 | -100.0% |
| Other amounts payable | 47/48 | €182,030 | €183,876 | +€1,846 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,595 | €11,411 | -€5,185 | -31.2% |
| Other operating charges | 640/8 | €1,550 | €1,638 | +€88 | +5.7% |
| Gross operating margin | 9900 | €21,716 | -€24,689 | -€46,406 | |
| Operating profit (loss) | 9901 | €3,571 | -€37,738 | -€41,309 | |
| Financial income | 75/76B | €3,887 | €1,618 | -€2,269 | -58.4% |
| Recurring financial income | 75 | €3,887 | €1,618 | -€2,269 | -58.4% |
| Financial charges | 65/66B | €1,384 | €757 | -€627 | -45.3% |
| Recurring financial charges | 65 | €1,384 | €757 | -€627 | -45.3% |
| Profit (loss) for the period before taxes | 9903 | €6,074 | -€36,876 | -€42,950 | |
| Income taxes | 67/77 | €1,875 | €14 | -€1,861 | -99.2% |
| Profit (loss) for the period | 9904 | €4,199 | -€36,890 | -€41,089 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,199 | -€36,890 | -€41,089 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.