EMMAG: 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.
EMMAG
Largest movements
- Receivables within one year +€13,018
up €13,018 (+120.0%), from €10,845 to €23,863
- Deferred charges and accrued income +€11,072
up €11,072 (+315.3%), from €3,512 to €14,584
- Cash -€10,084
down €10,084 (-29.4%), from €34,355 to €24,271
mainly Receivables within one year (-€13,018) and Deferred charges and accrued income (-€11,072)
- Reserves +€16,000
up €16,000 (+57.1%), from €28,000 to €44,000
- Trade debts -€3,431
down €3,431 (-93.5%), from €3,668 to €237
- Tax, wage and social debts +€2,196
up €2,196 (+26.7%), from €8,236 to €10,432
- Other debts -€666
down €666 (-12.4%), from €5,374 to €4,709
- Gross operating margin +€11,407
up €11,407 (+116.7%), from €9,771 to €21,179
- Taxes +€3,028
up €3,028 (+173.7%), from €1,743 to €4,771
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 | €48,711 | €62,718 | +€14,006 | +28.8% |
| Current assets | 29/58 | €48,711 | €62,718 | +€14,006 | +28.8% |
| Amounts receivable within one year | 40/41 | €10,845 | €23,863 | +€13,018 | +120.0% |
| Trade receivables | 40 | €10,845 | €23,863 | +€13,018 | +120.0% |
| Cash at bank and in hand | 54/58 | €34,355 | €24,271 | -€10,084 | -29.4% |
| Deferred charges and accrued income | 490/1 | €3,512 | €14,584 | +€11,072 | +315.3% |
| Total equity and liabilities | 10/49 | €48,711 | €62,718 | +€14,006 | +28.8% |
| Equity | 10/15 | €31,146 | €47,048 | +€15,902 | +51.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €28,000 | €44,000 | +€16,000 | +57.1% |
| Distributable reserves | 133 | €28,000 | €44,000 | +€16,000 | +57.1% |
| Profit (loss) carried forward | 14 | €146 | €48 | -€98 | -67.3% |
| Amounts payable | 17/49 | €17,566 | €15,670 | -€1,896 | -10.8% |
| Amounts payable within one year | 42/48 | €17,279 | €15,378 | -€1,901 | -11.0% |
| Trade debts | 44 | €3,668 | €237 | -€3,431 | -93.5% |
| Suppliers | 440/4 | €3,668 | €237 | -€3,431 | -93.5% |
| Taxes, remuneration and social security | 45 | €8,236 | €10,432 | +€2,196 | +26.7% |
| Taxes | 450/3 | €8,236 | €10,432 | +€2,196 | +26.7% |
| Other amounts payable | 47/48 | €5,374 | €4,709 | -€666 | -12.4% |
| Accrued charges and deferred income | 492/3 | €287 | €292 | +€5 | +1.8% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €9,771 | €21,179 | +€11,407 | +116.7% |
| Operating profit (loss) | 9901 | €9,384 | €20,779 | +€11,395 | +121.4% |
| Financial charges | 65/66B | €166 | €106 | -€60 | -36.4% |
| Recurring financial charges | 65 | €166 | €106 | -€60 | -36.4% |
| Profit (loss) for the period before taxes | 9903 | €9,218 | €20,673 | +€11,455 | +124.3% |
| Income taxes | 67/77 | €1,743 | €4,771 | +€3,028 | +173.7% |
| Profit (loss) for the period | 9904 | €7,474 | €15,902 | +€8,428 | +112.8% |
| Profit (loss) for the period to be appropriated | 9905 | €7,474 | €15,902 | +€8,428 | +112.8% |
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 10 October 2026 via checked.be.