EMLAK: what changed
Two fiscal 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.
EMLAK
Largest movements
- Receivables after one year -€30,000
down €30,000 (-13.1%), from €228,915 to €198,915
- Receivables within one year +€19,672
up €19,672 (+39.8%), from €49,398 to €69,070
of which Trade receivables: +€30,112
- Tangible fixed assets -€10,238
down €10,238 (-43.6%), from €23,498 to €13,260
of which Furniture and vehicles: -€8,467
- Cash -€5,674
no longer reported in 2025 (was €5,674)
mainly Net result for the year (-€32,817) and Other debts (-€19,985)
- Tax, wage and social debts +€39,317
up €39,317 (+72.9%), from €53,940 to €93,257
of which Taxes: +€29,164
- Profit (loss) carried forward -€32,817
down €32,817 (-34.6%), from €94,936 to €62,119
- Other debts -€19,985
down €19,985 (-28.6%), from €70,000 to €50,015
- Trade debts -€10,453
down €10,453 (-40.5%), from €25,833 to €15,381
- Gross operating margin -€131,617
down €131,617 (-69.3%), from €189,841 to €58,225
- Taxes -€22,893
down €22,893 (-96.5%), from €23,721 to €828
- Staff costs +€12,508
up €12,508 (+22.5%), from €55,635 to €68,143
- Other operating charges +€7,526
up €7,526 (+151.9%), from €4,955 to €12,481
- Financial income -€2,029
down €2,029 (-41.8%), from €4,855 to €2,826
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 | €331,923 | €305,593 | -€26,330 | -7.9% |
| Fixed assets | 21/28 | €27,258 | €17,143 | -€10,114 | -37.1% |
| Tangible fixed assets | 22/27 | €23,498 | €13,260 | -€10,238 | -43.6% |
| Furniture and vehicles | 24 | €14,643 | €6,176 | -€8,467 | -57.8% |
| Other tangible fixed assets | 26 | €8,855 | €7,084 | -€1,771 | -20.0% |
| Financial fixed assets | 28 | €3,760 | €3,883 | +€123 | +3.3% |
| Current assets | 29/58 | €304,665 | €288,450 | -€16,216 | -5.3% |
| Amounts receivable after more than one year | 29 | €228,915 | €198,915 | -€30,000 | -13.1% |
| Other amounts receivable | 291 | €228,915 | €198,915 | -€30,000 | -13.1% |
| Stocks and contracts in progress | 3 | €20,000 | €20,000 | = | 0.0% |
| Stocks | 30/36 | €20,000 | €20,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €49,398 | €69,070 | +€19,672 | +39.8% |
| Trade receivables | 40 | €30,513 | €60,625 | +€30,112 | +98.7% |
| Other amounts receivable | 41 | €18,884 | €8,445 | -€10,440 | -55.3% |
| Cash at bank and in hand | 54/58 | €5,674 | - | -€5,674 | |
| Deferred charges and accrued income | 490/1 | €679 | €465 | -€214 | -31.6% |
| Total equity and liabilities | 10/49 | €331,923 | €305,593 | -€26,330 | -7.9% |
| Equity | 10/15 | €165,341 | €132,524 | -€32,817 | -19.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €51,855 | €51,855 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €94,936 | €62,119 | -€32,817 | -34.6% |
| Amounts payable | 17/49 | €166,582 | €173,069 | +€6,487 | +3.9% |
| Amounts payable after more than one year | 17 | €14,144 | €11,376 | -€2,768 | -19.6% |
| Financial debts | 170/4 | €14,144 | €11,376 | -€2,768 | -19.6% |
| Amounts payable within one year | 42/48 | €152,438 | €161,693 | +€9,255 | +6.1% |
| Current portion of amounts payable after more than one year | 42 | €2,665 | €3,037 | +€372 | +14.0% |
| Financial debts | 43 | - | €4 | +€4 | |
| Credit institutions | 430/8 | - | €4 | +€4 | |
| Trade debts | 44 | €25,833 | €15,381 | -€10,453 | -40.5% |
| Suppliers | 440/4 | €25,833 | €15,381 | -€10,453 | -40.5% |
| Taxes, remuneration and social security | 45 | €53,940 | €93,257 | +€39,317 | +72.9% |
| Taxes | 450/3 | €37,739 | €66,903 | +€29,164 | +77.3% |
| Remuneration and social security | 454/9 | €16,201 | €26,354 | +€10,153 | +62.7% |
| Other amounts payable | 47/48 | €70,000 | €50,015 | -€19,985 | -28.6% |
| Remuneration, social security and pensions | 62 | €55,635 | €68,143 | +€12,508 | +22.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,334 | €10,238 | -€96 | -0.9% |
| Other operating charges | 640/8 | €4,955 | €12,481 | +€7,526 | +151.9% |
| Gross operating margin | 9900 | €189,841 | €58,225 | -€131,617 | -69.3% |
| Operating profit (loss) | 9901 | €118,918 | -€32,636 | -€151,554 | |
| Financial income | 75/76B | €4,855 | €2,826 | -€2,029 | -41.8% |
| Recurring financial income | 75 | €4,855 | €2,826 | -€2,029 | -41.8% |
| Financial charges | 65/66B | €3,875 | €2,179 | -€1,697 | -43.8% |
| Recurring financial charges | 65 | €3,875 | €2,179 | -€1,697 | -43.8% |
| Profit (loss) for the period before taxes | 9903 | €119,897 | -€31,989 | -€151,886 | |
| Income taxes | 67/77 | €23,721 | €828 | -€22,893 | -96.5% |
| Profit (loss) for the period | 9904 | €96,177 | -€32,817 | -€128,993 | |
| Profit (loss) for the period to be appropriated | 9905 | €96,177 | -€32,817 | -€128,993 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.