EMJM: 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.
EMJM
Largest movements
- Cash +€100,594
up €100,594 (+151%), from €66,471 to €167,064
mainly Net result for the year (+€79,836) and Tax, wage and social debts (+€27,966)
- Receivables within one year +€15,083
up €15,083 (+1,011%), from €1,492 to €16,575
of which Other amounts receivable: +€14,083
- Tangible fixed assets -€5,618
down €5,618 (-50.5%), from €11,130 to €5,511
of which Other tangible fixed assets: -€8,066
- Profit (loss) carried forward +€79,836
up €79,836 (+115%), from €69,214 to €149,049
- Tax, wage and social debts +€27,966
up €27,966 (+386%), from €7,250 to €35,216
- Gross operating margin +€12,654
up €12,654 (+13.4%), from €94,156 to €106,810
- Taxes +€3,412
up €3,412 (+14.7%), from €23,279 to €26,691
- Depreciation -€1,136
down €1,136 (-86.9%), from €1,307 to €171
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.
Derived cash bridge
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 | €79,655 | €189,655 | +€109,999 | +138% |
| Fixed assets | 21/28 | €11,693 | €6,015 | -€5,678 | -48.6% |
| Intangible fixed assets | 21 | €564 | €504 | -€59 | -10.5% |
| Tangible fixed assets | 22/27 | €11,130 | €5,511 | -€5,618 | -50.5% |
| Furniture and vehicles | 24 | €3,064 | €5,511 | +€2,447 | +79.9% |
| Other tangible fixed assets | 26 | €8,066 | €0 | -€8,066 | -100% |
| Current assets | 29/58 | €67,962 | €183,639 | +€115,677 | +170% |
| Amounts receivable within one year | 40/41 | €1,492 | €16,575 | +€15,083 | +1,011% |
| Trade receivables | 40 | - | €1,000 | +€1,000 | |
| Other amounts receivable | 41 | €1,492 | €15,575 | +€14,083 | +944% |
| Cash at bank and in hand | 54/58 | €66,471 | €167,064 | +€100,594 | +151% |
| Total equity and liabilities | 10/49 | €79,655 | €189,655 | +€109,999 | +138% |
| Equity | 10/15 | €71,214 | €151,049 | +€79,836 | +112% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €69,214 | €149,049 | +€79,836 | +115% |
| Amounts payable | 17/49 | €8,442 | €38,605 | +€30,163 | +357% |
| Amounts payable within one year | 42/48 | €8,442 | €38,206 | +€29,764 | +353% |
| Trade debts | 44 | €1,192 | €2,989 | +€1,798 | +151% |
| Suppliers | 440/4 | €1,192 | €2,989 | +€1,798 | +151% |
| Taxes, remuneration and social security | 45 | €7,250 | €35,216 | +€27,966 | +386% |
| Taxes | 450/3 | €7,250 | €35,216 | +€27,966 | +386% |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,307 | €171 | -€1,136 | -86.9% |
| Other operating charges | 640/8 | €487 | €753 | +€266 | +54.6% |
| Gross operating margin | 9900 | €94,156 | €106,810 | +€12,654 | +13.4% |
| Operating profit (loss) | 9901 | €92,362 | €105,886 | +€13,524 | +14.6% |
| Financial income | 75/76B | €131 | €688 | +€557 | +425% |
| Recurring financial income | 75 | €131 | €688 | +€557 | +425% |
| Financial charges | 65/66B | €1 | €48 | +€47 | +7,494% |
| Recurring financial charges | 65 | €1 | €48 | +€47 | +7,494% |
| Profit (loss) for the period before taxes | 9903 | €92,492 | €106,527 | +€14,034 | +15.2% |
| Income taxes | 67/77 | €23,279 | €26,691 | +€3,412 | +14.7% |
| Profit (loss) for the period | 9904 | €69,214 | €79,836 | +€10,622 | +15.3% |
| Profit (loss) for the period to be appropriated | 9905 | €69,214 | €79,836 | +€10,622 | +15.3% |
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 13 October 2026 via checked.be.