EMMACO: 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.
EMMACO
Largest movements
- Tangible fixed assets +€2.5m
up €2.5m (+450.0%), from €550,139 to €3.0m
of which Land and buildings: +€2.7m
- Receivables within one year -€325,436
down €325,436 (-39.5%), from €823,648 to €498,212
of which Other amounts receivable: -€304,022
- Financial fixed assets +€65,208
up €65,208 (+9.5%), from €688,039 to €753,247
- Cash -€49,868
down €49,868 (-61.4%), from €81,213 to €31,345
mainly Investment in fixed assets (net) (-€2.6m) and Short-term financial debts (-€12,622)
- Debts after one year +€1.4m
up €1.4m (+253.8%), from €533,764 to €1.9m
of which Financial debts: +€1.3m
- Other debts +€419,629
up €419,629, from €0 to €419,629
- Current portion of long-term debt +€196,401
up €196,401 (+714.2%), from €27,500 to €223,901
- Tax, wage and social debts +€69,839
up €69,839 (+257.3%), from €27,143 to €96,982
of which Taxes: +€69,839
- Gross operating margin +€118,045
up €118,045 (+95.5%), from €123,632 to €241,677
- Financial charges +€96,853
up €96,853 (+640.1%), from €15,131 to €111,984
- Taxes +€55,022
up €55,022 (+272.6%), from €20,184 to €75,206
- Other operating charges +€20,561
up €20,561 (+210.1%), from €9,788 to €30,349
- Financial income +€20,245
up €20,245 (+83.9%), from €24,136 to €44,381
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 | €2,185,255 | €4,343,741 | +€2.2m | +98.8% |
| Fixed assets | 21/28 | €1,238,178 | €3,781,082 | +€2.5m | +205.4% |
| Intangible fixed assets | 21 | - | €2,258 | +€2,258 | |
| Tangible fixed assets | 22/27 | €550,139 | €3,025,577 | +€2.5m | +450.0% |
| Land and buildings | 22 | €289,069 | €2,942,510 | +€2.7m | +917.9% |
| Furniture and vehicles | 24 | €21,830 | €33,592 | +€11,762 | +53.9% |
| Other tangible fixed assets | 26 | €55,335 | €49,475 | -€5,860 | -10.6% |
| Assets under construction and advance payments | 27 | €183,906 | €0 | -€183,906 | -100.0% |
| Financial fixed assets | 28 | €688,039 | €753,247 | +€65,208 | +9.5% |
| Current assets | 29/58 | €947,077 | €562,660 | -€384,417 | -40.6% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €823,648 | €498,212 | -€325,436 | -39.5% |
| Trade receivables | 40 | €42,653 | €21,239 | -€21,414 | -50.2% |
| Other amounts receivable | 41 | €780,995 | €476,973 | -€304,022 | -38.9% |
| Cash at bank and in hand | 54/58 | €81,213 | €31,345 | -€49,868 | -61.4% |
| Deferred charges and accrued income | 490/1 | €42,216 | €33,102 | -€9,113 | -21.6% |
| Total equity and liabilities | 10/49 | €2,185,255 | €4,343,741 | +€2.2m | +98.8% |
| Equity | 10/15 | €1,566,263 | €1,635,570 | +€69,307 | +4.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Revaluation surpluses | 12 | - | €39,322 | +€39,322 | |
| Reserves | 13 | €1,553,863 | €1,583,849 | +€29,986 | +1.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €1,552,003 | €1,581,989 | +€29,986 | +1.9% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €618,992 | €2,708,171 | +€2.1m | +337.5% |
| Amounts payable after more than one year | 17 | €533,764 | €1,888,584 | +€1.4m | +253.8% |
| Financial debts | 170/4 | €533,764 | €1,792,485 | +€1.3m | +235.8% |
| Other amounts payable | 178/9 | - | €96,098 | +€96,098 | |
| Amounts payable within one year | 42/48 | €84,327 | €793,727 | +€709,400 | +841.2% |
| Current portion of amounts payable after more than one year | 42 | €27,500 | €223,901 | +€196,401 | +714.2% |
| Financial debts | 43 | €12,622 | €0 | -€12,622 | -100.0% |
| Credit institutions | 430/8 | €12,622 | €0 | -€12,622 | -100.0% |
| Trade debts | 44 | €17,062 | €53,214 | +€36,153 | +211.9% |
| Suppliers | 440/4 | €17,062 | €53,214 | +€36,153 | +211.9% |
| Taxes, remuneration and social security | 45 | €27,143 | €96,982 | +€69,839 | +257.3% |
| Taxes | 450/3 | €22,643 | €92,482 | +€69,839 | +308.4% |
| Remuneration and social security | 454/9 | €4,500 | €4,500 | = | 0.0% |
| Other amounts payable | 47/48 | €0 | €419,629 | +€419,629 | |
| Accrued charges and deferred income | 492/3 | €902 | €25,860 | +€24,959 | +2768.2% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,428 | €38,533 | -€9,895 | -20.4% |
| Other operating charges | 640/8 | €9,788 | €30,349 | +€20,561 | +210.1% |
| Non-recurring operating charges | 66A | €47,404 | €0 | -€47,404 | -100.0% |
| Gross operating margin | 9900 | €123,632 | €241,677 | +€118,045 | +95.5% |
| Operating profit (loss) | 9901 | €18,011 | €172,795 | +€154,784 | +859.4% |
| Financial income | 75/76B | €24,136 | €44,381 | +€20,245 | +83.9% |
| Recurring financial income | 75 | €24,136 | €44,381 | +€20,245 | +83.9% |
| Financial charges | 65/66B | €15,131 | €111,984 | +€96,853 | +640.1% |
| Recurring financial charges | 65 | €15,131 | €111,984 | +€96,853 | +640.1% |
| Profit (loss) for the period before taxes | 9903 | €27,016 | €105,191 | +€78,175 | +289.4% |
| Income taxes | 67/77 | €20,184 | €75,206 | +€55,022 | +272.6% |
| Profit (loss) for the period | 9904 | €6,832 | €29,986 | +€23,153 | +338.9% |
| Transfer from tax-exempt reserves | 789 | €105,250 | €0 | -€105,250 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €112,082 | €29,986 | -€82,097 | -73.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.