EMM: 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.
EMM
Largest movements
- Receivables within one year -€9,230
down €9,230 (-20.3%), from €45,484 to €36,254
of which Trade receivables: -€8,470
- Cash -€5,128
down €5,128 (-61.1%), from €8,387 to €3,259
mainly Other debts (-€12,513) and Trade debts (-€1,410)
- Other debts -€12,513
down €12,513 (-11.4%), from €110,053 to €97,539
- Trade debts -€1,410
down €1,410 (-87.1%), from €1,618 to €208
- Gross operating margin -€8,827
down €8,827 (-84.1%), from €10,501 to €1,674
- Depreciation +€154
new in 2025: €154
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 | €134,524 | €121,292 | -€13,232 | -9.8% |
| Fixed assets | 21/28 | €80,000 | €81,181 | +€1,181 | +1.5% |
| Tangible fixed assets | 22/27 | - | €1,181 | +€1,181 | |
| Plant, machinery and equipment | 23 | - | €1,181 | +€1,181 | |
| Financial fixed assets | 28 | €80,000 | €80,000 | = | 0.0% |
| Current assets | 29/58 | €54,524 | €40,111 | -€14,413 | -26.4% |
| Amounts receivable within one year | 40/41 | €45,484 | €36,254 | -€9,230 | -20.3% |
| Trade receivables | 40 | €44,724 | €36,254 | -€8,470 | -18.9% |
| Other amounts receivable | 41 | €760 | - | -€760 | |
| Cash at bank and in hand | 54/58 | €8,387 | €3,259 | -€5,128 | -61.1% |
| Deferred charges and accrued income | 490/1 | €653 | €599 | -€54 | -8.3% |
| Total equity and liabilities | 10/49 | €134,524 | €121,292 | -€13,232 | -9.8% |
| Equity | 10/15 | €22,853 | €22,965 | +€112 | +0.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €4,193 | €4,193 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,193 | €4,193 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,193 | €4,193 | = | 0.0% |
| Profit (loss) carried forward | 14 | €61 | €173 | +€112 | +184% |
| Amounts payable | 17/49 | €111,671 | €98,327 | -€13,344 | -11.9% |
| Amounts payable within one year | 42/48 | €111,671 | €98,327 | -€13,344 | -11.9% |
| Trade debts | 44 | €1,618 | €208 | -€1,410 | -87.1% |
| Suppliers | 440/4 | €1,618 | €208 | -€1,410 | -87.1% |
| Taxes, remuneration and social security | 45 | - | €579 | +€579 | |
| Taxes | 450/3 | - | €579 | +€579 | |
| Other amounts payable | 47/48 | €110,053 | €97,539 | -€12,513 | -11.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €154 | +€154 | |
| Other operating charges | 640/8 | €995 | €1,026 | +€31 | +3.1% |
| Gross operating margin | 9900 | €10,501 | €1,674 | -€8,827 | -84.1% |
| Operating profit (loss) | 9901 | €9,506 | €495 | -€9,011 | -94.8% |
| Financial income | 75/76B | €2 | - | -€2 | |
| Recurring financial income | 75 | €2 | - | -€2 | |
| Financial charges | 65/66B | €298 | €383 | +€85 | +28.3% |
| Recurring financial charges | 65 | €298 | €383 | +€85 | +28.3% |
| Profit (loss) for the period before taxes | 9903 | €9,209 | €112 | -€9,097 | -98.8% |
| Profit (loss) for the period | 9904 | €9,209 | €112 | -€9,097 | -98.8% |
| Profit (loss) for the period to be appropriated | 9905 | €9,209 | €112 | -€9,097 | -98.8% |
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 18 October 2026 via checked.be.