EMMADEL: 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.
EMMADEL
Largest movements
- Current investments -€174,795
down €174,795 (-25.0%), from €700,000 to €525,205
- Cash +€10,769
up €10,769 (+22.4%), from €48,178 to €58,947
mainly Current investments (+€174,795) and Net result for the year (+€97,322)
- Debts after one year -€240,000
down €240,000 (-100.0%), from €240,000 to €0
- Reserves +€85,000
up €85,000 (+29.9%), from €283,860 to €368,860
- Other debts -€26,906
down €26,906 (-93.2%), from €28,884 to €1,978
- Tax, wage and social debts +€12,867
up €12,867 (+106.2%), from €12,120 to €24,987
- Profit (loss) carried forward +€12,322
up €12,322 (+15.9%), from €77,534 to €89,856
- Gross operating margin +€37,161
up €37,161 (+42.6%), from €87,260 to €124,421
- Taxes +€13,110
up €13,110 (+52.2%), from €25,118 to €38,227
- Financial charges -€7,277
down €7,277 (-52.6%), from €13,848 to €6,571
- Financial income +€3,378
up €3,378 (+22.3%), from €15,149 to €18,527
of which Financial income: +€3,378
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 | €765,448 | €608,197 | -€157,251 | -20.5% |
| Fixed assets | 21/28 | €1,346 | €655 | -€691 | -51.3% |
| Tangible fixed assets | 22/27 | €1,346 | €655 | -€691 | -51.3% |
| Plant, machinery and equipment | 23 | €1,310 | €655 | -€655 | -50.0% |
| Furniture and vehicles | 24 | €36 | €0 | -€36 | -100.0% |
| Current assets | 29/58 | €764,102 | €607,542 | -€156,560 | -20.5% |
| Amounts receivable within one year | 40/41 | €14,590 | €19,865 | +€5,276 | +36.2% |
| Trade receivables | 40 | €14,590 | €19,865 | +€5,276 | +36.2% |
| Current investments | 50/53 | €700,000 | €525,205 | -€174,795 | -25.0% |
| Cash at bank and in hand | 54/58 | €48,178 | €58,947 | +€10,769 | +22.4% |
| Deferred charges and accrued income | 490/1 | €1,334 | €3,524 | +€2,190 | +164.2% |
| Total equity and liabilities | 10/49 | €765,448 | €608,197 | -€157,251 | -20.5% |
| Equity | 10/15 | €473,794 | €577,316 | +€103,522 | +21.8% |
| Contributions | 10/11 | €112,400 | €118,600 | +€6,200 | +5.5% |
| Reserves | 13 | €283,860 | €368,860 | +€85,000 | +29.9% |
| Distributable reserves | 133 | €283,860 | €368,860 | +€85,000 | +29.9% |
| Profit (loss) carried forward | 14 | €77,534 | €89,856 | +€12,322 | +15.9% |
| Amounts payable | 17/49 | €291,654 | €30,881 | -€260,773 | -89.4% |
| Amounts payable after more than one year | 17 | €240,000 | €0 | -€240,000 | -100.0% |
| Other amounts payable | 178/9 | €240,000 | €0 | -€240,000 | -100.0% |
| Amounts payable within one year | 42/48 | €44,414 | €30,283 | -€14,131 | -31.8% |
| Trade debts | 44 | €3,410 | €3,318 | -€92 | -2.7% |
| Suppliers | 440/4 | €3,410 | €3,318 | -€92 | -2.7% |
| Taxes, remuneration and social security | 45 | €12,120 | €24,987 | +€12,867 | +106.2% |
| Taxes | 450/3 | €12,120 | €24,987 | +€12,867 | +106.2% |
| Other amounts payable | 47/48 | €28,884 | €1,978 | -€26,906 | -93.2% |
| Accrued charges and deferred income | 492/3 | €7,240 | €598 | -€6,642 | -91.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €952 | €691 | -€261 | -27.4% |
| Other operating charges | 640/8 | €384 | €15 | -€369 | -96.0% |
| Non-recurring operating charges | 66A | - | €121 | +€121 | |
| Gross operating margin | 9900 | €87,260 | €124,421 | +€37,161 | +42.6% |
| Operating profit (loss) | 9901 | €85,924 | €123,593 | +€37,670 | +43.8% |
| Financial income | 75/76B | €15,149 | €18,527 | +€3,378 | +22.3% |
| Recurring financial income | 75 | €15,149 | €18,527 | +€3,378 | +22.3% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €13,848 | €6,571 | -€7,277 | -52.6% |
| Recurring financial charges | 65 | €13,848 | €6,571 | -€7,277 | -52.6% |
| Profit (loss) for the period before taxes | 9903 | €87,225 | €135,549 | +€48,325 | +55.4% |
| Income taxes | 67/77 | €25,118 | €38,227 | +€13,110 | +52.2% |
| Profit (loss) for the period | 9904 | €62,107 | €97,322 | +€35,215 | +56.7% |
| Profit (loss) for the period to be appropriated | 9905 | €62,107 | €97,322 | +€35,215 | +56.7% |
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 9 October 2026 via checked.be.