Emisha: 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.
Emisha
Largest movements
- Cash -€10,688
down €10,688 (-24.1%), from €44,294 to €33,606
mainly Contributions, distributions and other (-€42,384) and Other debts (-€8,370)
- Tangible fixed assets -€1,700
down €1,700 (-40.5%), from €4,202 to €2,502
of which Plant, machinery and equipment: -€1,536
- Receivables within one year -€969
down €969 (-3.0%), from €32,632 to €31,663
- Other debts -€8,370
down €8,370 (-18.9%), from €44,397 to €36,027
- Tax, wage and social debts -€4,465
down €4,465 (-14.6%), from €30,637 to €26,172
- Gross operating margin -€12,545
down €12,545 (-17.2%), from €72,952 to €60,407
- Taxes -€3,081
down €3,081 (-20.1%), from €15,312 to €12,231
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 | €83,160 | €70,410 | -€12,751 | -15.3% |
| Fixed assets | 21/28 | €4,202 | €2,502 | -€1,700 | -40.5% |
| Tangible fixed assets | 22/27 | €4,202 | €2,502 | -€1,700 | -40.5% |
| Plant, machinery and equipment | 23 | €3,266 | €1,729 | -€1,536 | -47.0% |
| Furniture and vehicles | 24 | €936 | €772 | -€163 | -17.5% |
| Current assets | 29/58 | €78,959 | €67,908 | -€11,051 | -14.0% |
| Amounts receivable within one year | 40/41 | €32,632 | €31,663 | -€969 | -3.0% |
| Trade receivables | 40 | €32,632 | €31,663 | -€969 | -3.0% |
| Cash at bank and in hand | 54/58 | €44,294 | €33,606 | -€10,688 | -24.1% |
| Deferred charges and accrued income | 490/1 | €2,034 | €2,639 | +€606 | +29.8% |
| Total equity and liabilities | 10/49 | €83,160 | €70,410 | -€12,751 | -15.3% |
| Equity | 10/15 | €4,187 | €4,187 | = | 0.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €26,634 | €26,634 | = | 0.0% |
| Distributable reserves | 133 | €26,634 | €26,634 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€32,448 | -€32,448 | = | 0.0% |
| Amounts payable | 17/49 | €78,974 | €66,223 | -€12,751 | -16.1% |
| Amounts payable within one year | 42/48 | €78,974 | €66,223 | -€12,751 | -16.1% |
| Trade debts | 44 | €3,940 | €4,024 | +€84 | +2.1% |
| Suppliers | 440/4 | €3,940 | €4,024 | +€84 | +2.1% |
| Taxes, remuneration and social security | 45 | €30,637 | €26,172 | -€4,465 | -14.6% |
| Taxes | 450/3 | €30,637 | €26,172 | -€4,465 | -14.6% |
| Other amounts payable | 47/48 | €44,397 | €36,027 | -€8,370 | -18.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,739 | €2,540 | -€199 | -7.2% |
| Other operating charges | 640/8 | €2,617 | €3,196 | +€579 | +22.1% |
| Gross operating margin | 9900 | €72,952 | €60,407 | -€12,545 | -17.2% |
| Operating profit (loss) | 9901 | €67,596 | €54,671 | -€12,926 | -19.1% |
| Financial income | 75/76B | €1 | €0 | -€1 | -89.0% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -89.0% |
| Financial charges | 65/66B | €54 | €55 | +€1 | +2.5% |
| Recurring financial charges | 65 | €54 | €55 | +€1 | +2.5% |
| Profit (loss) for the period before taxes | 9903 | €67,543 | €54,615 | -€12,928 | -19.1% |
| Income taxes | 67/77 | €15,312 | €12,231 | -€3,081 | -20.1% |
| Profit (loss) for the period | 9904 | €52,231 | €42,384 | -€9,847 | -18.9% |
| Profit (loss) for the period to be appropriated | 9905 | €52,231 | €42,384 | -€9,847 | -18.9% |
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 12 October 2026 via checked.be.