EML: 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.
EML
Largest movements
- Tangible fixed assets -€6,762
down €6,762 (-22.9%), from €29,578 to €22,816
- Cash +€5,583
up €5,583 (+7.4%), from €75,208 to €80,791
mainly Net result for the year (+€17,008) and Depreciation (+€8,069)
- Receivables within one year -€2,416
down €2,416 (-16.0%), from €15,142 to €12,726
of which Trade receivables: -€2,416
- Reserves +€17,000
up €17,000 (+43.4%), from €39,140 to €56,140
- Tax, wage and social debts -€10,188
down €10,188 (-22.9%), from €44,551 to €34,363
- Debts after one year -€7,462
down €7,462 (-32.9%), from €22,683 to €15,221
- Gross operating margin -€33,431
down €33,431 (-50.3%), from €66,441 to €33,010
- Turnover -€32,175
down €32,175 (-17.7%), from €181,444 to €149,269
- Taxes -€7,645
down €7,645 (-52.6%), from €14,542 to €6,897
- Depreciation -€2,765
down €2,765 (-25.5%), from €10,834 to €8,069
- Purchases and services +€1,884
up €1,884 (+1.6%), from €114,964 to €116,848
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 | €120,865 | €118,634 | -€2,230 | -1.8% |
| Fixed assets | 21/28 | €29,578 | €22,816 | -€6,762 | -22.9% |
| Tangible fixed assets | 22/27 | €29,578 | €22,816 | -€6,762 | -22.9% |
| Furniture and vehicles | 24 | €29,578 | €22,816 | -€6,762 | -22.9% |
| Current assets | 29/58 | €91,287 | €95,819 | +€4,531 | +5.0% |
| Stocks and contracts in progress | 3 | - | €1,200 | +€1,200 | |
| Stocks | 30/36 | - | €1,200 | +€1,200 | |
| Amounts receivable within one year | 40/41 | €15,142 | €12,726 | -€2,416 | -16.0% |
| Trade receivables | 40 | €15,141 | €12,725 | -€2,416 | -16.0% |
| Other amounts receivable | 41 | €1 | €1 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €75,208 | €80,791 | +€5,583 | +7.4% |
| Deferred charges and accrued income | 490/1 | €938 | €1,102 | +€164 | +17.5% |
| Total equity and liabilities | 10/49 | €120,865 | €118,634 | -€2,230 | -1.8% |
| Equity | 10/15 | €44,143 | €61,151 | +€17,008 | +38.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €39,140 | €56,140 | +€17,000 | +43.4% |
| Distributable reserves | 133 | €39,140 | €56,140 | +€17,000 | +43.4% |
| Profit (loss) carried forward | 14 | €3 | €11 | +€8 | +303% |
| Amounts payable | 17/49 | €76,722 | €57,484 | -€19,238 | -25.1% |
| Amounts payable after more than one year | 17 | €22,683 | €15,221 | -€7,462 | -32.9% |
| Financial debts | 170/4 | €22,683 | €15,221 | -€7,462 | -32.9% |
| Amounts payable within one year | 42/48 | €54,039 | €42,263 | -€11,776 | -21.8% |
| Current portion of amounts payable after more than one year | 42 | €7,152 | €7,462 | +€311 | +4.3% |
| Trade debts | 44 | €1,612 | €437 | -€1,175 | -72.9% |
| Suppliers | 440/4 | €1,612 | €437 | -€1,175 | -72.9% |
| Taxes, remuneration and social security | 45 | €44,551 | €34,363 | -€10,188 | -22.9% |
| Taxes | 450/3 | €44,551 | €34,363 | -€10,188 | -22.9% |
| Other amounts payable | 47/48 | €724 | - | -€724 | |
| Turnover | 70 | €181,444 | €149,269 | -€32,175 | -17.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €114,964 | €116,848 | +€1,884 | +1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,834 | €8,069 | -€2,765 | -25.5% |
| Other operating charges | 640/8 | €149 | €149 | = | 0.0% |
| Gross operating margin | 9900 | €66,441 | €33,010 | -€33,431 | -50.3% |
| Operating profit (loss) | 9901 | €55,458 | €24,793 | -€30,666 | -55.3% |
| Financial income | 75/76B | €0 | €320 | +€319 | +106,473% |
| Recurring financial income | 75 | €0 | €320 | +€319 | +106,473% |
| Financial charges | 65/66B | €1,774 | €1,207 | -€567 | -32.0% |
| Recurring financial charges | 65 | €1,774 | €1,207 | -€567 | -32.0% |
| Profit (loss) for the period before taxes | 9903 | €53,684 | €23,905 | -€29,779 | -55.5% |
| Income taxes | 67/77 | €14,542 | €6,897 | -€7,645 | -52.6% |
| Profit (loss) for the period | 9904 | €39,143 | €17,008 | -€22,135 | -56.5% |
| Profit (loss) for the period to be appropriated | 9905 | €39,143 | €17,008 | -€22,135 | -56.5% |
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.