EMLACO: 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.
EMLACO
Largest movements
- Receivables within one year +€148,994
up €148,994 (+123.9%), from €120,296 to €269,290
of which Trade receivables: +€148,000
- Cash -€91,830
down €91,830 (-42.3%), from €217,129 to €125,299
mainly Receivables within one year (-€148,994) and Net result for the year (-€59,393)
- Other debts +€120,000
new in 2025: €120,000
- Reserves -€59,393
down €59,393 (-34.4%), from €172,568 to €113,175
of which Distributable reserves: -€59,393
- Gross operating margin +€103,590
up €103,590 (+29.3%), from €353,851 to €457,441
- Staff costs -€79,823
down €79,823 (-13.3%), from €599,111 to €519,288
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 | €338,612 | €394,589 | +€55,977 | +16.5% |
| Current assets | 29/58 | €338,612 | €394,589 | +€55,977 | +16.5% |
| Amounts receivable within one year | 40/41 | €120,296 | €269,290 | +€148,994 | +123.9% |
| Trade receivables | 40 | €118,541 | €266,541 | +€148,000 | +124.9% |
| Other amounts receivable | 41 | €1,755 | €2,749 | +€994 | +56.6% |
| Cash at bank and in hand | 54/58 | €217,129 | €125,299 | -€91,830 | -42.3% |
| Deferred charges and accrued income | 490/1 | €1,186 | €0 | -€1,186 | -100.0% |
| Total equity and liabilities | 10/49 | €338,612 | €394,589 | +€55,977 | +16.5% |
| Equity | 10/15 | €234,568 | €175,175 | -€59,393 | -25.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €172,568 | €113,175 | -€59,393 | -34.4% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €166,368 | €106,975 | -€59,393 | -35.7% |
| Amounts payable | 17/49 | €104,044 | €219,414 | +€115,370 | +110.9% |
| Amounts payable within one year | 42/48 | €104,005 | €219,390 | +€115,385 | +110.9% |
| Trade debts | 44 | €1,962 | €155 | -€1,807 | -92.1% |
| Suppliers | 440/4 | €1,962 | €155 | -€1,807 | -92.1% |
| Taxes, remuneration and social security | 45 | €102,043 | €99,235 | -€2,808 | -2.8% |
| Taxes | 450/3 | €23,924 | €17,660 | -€6,264 | -26.2% |
| Remuneration and social security | 454/9 | €78,119 | €81,575 | +€3,456 | +4.4% |
| Other amounts payable | 47/48 | - | €120,000 | +€120,000 | |
| Accrued charges and deferred income | 492/3 | €39 | €24 | -€15 | -38.6% |
| Remuneration, social security and pensions | 62 | €599,111 | €519,288 | -€79,823 | -13.3% |
| Other operating charges | 640/8 | €658 | €528 | -€131 | -19.8% |
| Gross operating margin | 9900 | €353,851 | €457,441 | +€103,590 | +29.3% |
| Operating profit (loss) | 9901 | -€245,918 | -€62,375 | +€183,544 | +74.6% |
| Financial income | 75/76B | €5,851 | €3,313 | -€2,539 | -43.4% |
| Recurring financial income | 75 | €5,851 | €3,313 | -€2,539 | -43.4% |
| Financial charges | 65/66B | €466 | €331 | -€135 | -29.0% |
| Recurring financial charges | 65 | €466 | €331 | -€135 | -29.0% |
| Profit (loss) for the period before taxes | 9903 | -€240,533 | -€59,393 | +€181,140 | +75.3% |
| Profit (loss) for the period | 9904 | -€240,533 | -€59,393 | +€181,140 | +75.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€240,533 | -€59,393 | +€181,140 | +75.3% |
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 11 October 2026 via checked.be.