EMJO MANAGEMENT: 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.
EMJO MANAGEMENT
Largest movements
- Receivables within one year +€158,222
up €158,222 (+89.6%), from €176,587 to €334,809
of which Other amounts receivable: +€159,041
- Cash -€144,428
down €144,428 (-82.6%), from €174,797 to €30,369
mainly Receivables within one year (-€158,222) and Tax, wage and social debts (-€45,584)
- Tangible fixed assets -€19,657
down €19,657 (-23.4%), from €83,998 to €64,341
of which Furniture and vehicles: -€18,156
- Reserves +€51,967
up €51,967 (+16.4%), from €316,478 to €368,444
- Tax, wage and social debts -€45,584
down €45,584 (-79.2%), from €57,562 to €11,978
- Debts after one year -€14,024
down €14,024 (-32.8%), from €42,693 to €28,668
of which Financial debts: -€14,024
- Gross operating margin -€75,930
down €75,930 (-49.0%), from €154,931 to €79,001
- Taxes -€17,086
down €17,086 (-54.6%), from €31,305 to €14,218
- Financial income +€2,562
up €2,562 (+34.5%), from €7,427 to €9,988
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 | €437,190 | €431,332 | -€5,858 | -1.3% |
| Fixed assets | 21/28 | €83,998 | €64,341 | -€19,657 | -23.4% |
| Tangible fixed assets | 22/27 | €83,998 | €64,341 | -€19,657 | -23.4% |
| Land and buildings | 22 | €12,987 | €11,486 | -€1,501 | -11.6% |
| Furniture and vehicles | 24 | €71,012 | €52,855 | -€18,156 | -25.6% |
| Current assets | 29/58 | €353,192 | €366,991 | +€13,799 | +3.9% |
| Amounts receivable within one year | 40/41 | €176,587 | €334,809 | +€158,222 | +89.6% |
| Trade receivables | 40 | €13,176 | €12,358 | -€819 | -6.2% |
| Other amounts receivable | 41 | €163,411 | €322,452 | +€159,041 | +97.3% |
| Cash at bank and in hand | 54/58 | €174,797 | €30,369 | -€144,428 | -82.6% |
| Deferred charges and accrued income | 490/1 | €1,807 | €1,813 | +€6 | +0.3% |
| Total equity and liabilities | 10/49 | €437,190 | €431,332 | -€5,858 | -1.3% |
| Equity | 10/15 | €321,478 | €373,444 | +€51,967 | +16.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €316,478 | €368,444 | +€51,967 | +16.4% |
| Distributable reserves | 133 | €316,478 | €368,444 | +€51,967 | +16.4% |
| Amounts payable | 17/49 | €115,712 | €57,888 | -€57,824 | -50.0% |
| Amounts payable after more than one year | 17 | €42,693 | €28,668 | -€14,024 | -32.8% |
| Financial debts | 170/4 | €42,693 | €28,668 | -€14,024 | -32.8% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €73,020 | €29,220 | -€43,800 | -60.0% |
| Current portion of amounts payable after more than one year | 42 | €13,420 | €14,024 | +€604 | +4.5% |
| Trade debts | 44 | €2,038 | €3,218 | +€1,180 | +57.9% |
| Suppliers | 440/4 | €2,038 | €3,218 | +€1,180 | +57.9% |
| Taxes, remuneration and social security | 45 | €57,562 | €11,978 | -€45,584 | -79.2% |
| Taxes | 450/3 | €57,562 | €11,978 | -€45,584 | -79.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,239 | €19,657 | +€418 | +2.2% |
| Other operating charges | 640/8 | €1,185 | €775 | -€410 | -34.6% |
| Gross operating margin | 9900 | €154,931 | €79,001 | -€75,930 | -49.0% |
| Operating profit (loss) | 9901 | €134,507 | €58,569 | -€75,938 | -56.5% |
| Financial income | 75/76B | €7,427 | €9,988 | +€2,562 | +34.5% |
| Recurring financial income | 75 | €7,427 | €9,988 | +€2,562 | +34.5% |
| Financial charges | 65/66B | €2,922 | €2,373 | -€549 | -18.8% |
| Recurring financial charges | 65 | €2,922 | €2,373 | -€549 | -18.8% |
| Profit (loss) for the period before taxes | 9903 | €139,012 | €66,185 | -€72,827 | -52.4% |
| Income taxes | 67/77 | €31,305 | €14,218 | -€17,086 | -54.6% |
| Profit (loss) for the period | 9904 | €107,707 | €51,967 | -€55,741 | -51.8% |
| Profit (loss) for the period to be appropriated | 9905 | €107,707 | €51,967 | -€55,741 | -51.8% |
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.