EMMANUEL BUSINESS: what changed
EMMANUEL BUSINESS
Largest movements
- Receivables within one year +€84,425
up €84,425 (+656%), from €12,865 to €97,290
of which Trade receivables: +€83,372
- Tangible fixed assets +€50,386
new in 2025: €50,386
- Stocks and contracts +€31,341
up €31,341 (+2,002%), from €1,566 to €32,906
- Cash -€11,432
down €11,432 (-67.6%), from €16,905 to €5,473
mainly Receivables within one year (-€84,425) and Investment in fixed assets (net) (-€53,000)
- Intangible fixed assets -€3,000
down €3,000 (-10.3%), from €29,005 to €26,005
- Trade debts +€62,670
up €62,670 (+171%), from €36,613 to €99,283
- Other debts +€56,422
new in 2025: €56,422
- Debts after one year +€41,674
new in 2025: €41,674
- Profit (loss) carried forward -€12,086
new in 2025: -€12,086
- Current portion of long-term debt +€9,744
new in 2025: €9,744
- Gross operating margin -€10,193
down €10,193 (-48.5%), from €21,006 to €10,813
- Other operating charges +€7,786
up €7,786 (+947%), from €822 to €8,608
- Depreciation +€4,619
up €4,619 (+464%), from €995 to €5,614
- Staff costs +€3,684
up €3,684 (+270%), from €1,363 to €5,047
- Taxes -€3,303
down €3,303 (-86.8%), from €3,806 to €503
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €60,341 | €212,061 | +€151,720 | +251% |
| Fixed assets | 21/28 | €29,005 | €76,392 | +€47,386 | +163% |
| Intangible fixed assets | 21 | €29,005 | €26,005 | -€3,000 | -10.3% |
| Tangible fixed assets | 22/27 | - | €50,386 | +€50,386 | |
| Furniture and vehicles | 24 | - | €50,386 | +€50,386 | |
| Current assets | 29/58 | €31,336 | €135,669 | +€104,333 | +333% |
| Stocks and contracts in progress | 3 | €1,566 | €32,906 | +€31,341 | +2,002% |
| Stocks | 30/36 | €1,566 | €32,906 | +€31,341 | +2,002% |
| Amounts receivable within one year | 40/41 | €12,865 | €97,290 | +€84,425 | +656% |
| Trade receivables | 40 | €12,296 | €95,667 | +€83,372 | +678% |
| Other amounts receivable | 41 | €569 | €1,623 | +€1,054 | +185% |
| Cash at bank and in hand | 54/58 | €16,905 | €5,473 | -€11,432 | -67.6% |
| Total equity and liabilities | 10/49 | €60,341 | €212,061 | +€151,720 | +251% |
| Equity | 10/15 | €15,031 | €2,945 | -€12,086 | -80.4% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €13,531 | €13,531 | = | 0.0% |
| Distributable reserves | 133 | €13,531 | €13,531 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€12,086 | -€12,086 | |
| Amounts payable | 17/49 | €45,310 | €209,115 | +€163,805 | +362% |
| Amounts payable after more than one year | 17 | - | €41,674 | +€41,674 | |
| Financial debts | 170/4 | - | €41,674 | +€41,674 | |
| Amounts payable within one year | 42/48 | €45,074 | €167,441 | +€122,368 | +271% |
| Current portion of amounts payable after more than one year | 42 | - | €9,744 | +€9,744 | |
| Trade debts | 44 | €36,613 | €99,283 | +€62,670 | +171% |
| Suppliers | 440/4 | €36,613 | €99,283 | +€62,670 | +171% |
| Taxes, remuneration and social security | 45 | €8,461 | €1,993 | -€6,468 | -76.4% |
| Taxes | 450/3 | €4,176 | €1,832 | -€2,343 | -56.1% |
| Remuneration and social security | 454/9 | €4,285 | €160 | -€4,125 | -96.3% |
| Other amounts payable | 47/48 | - | €56,422 | +€56,422 | |
| Accrued charges and deferred income | 492/3 | €236 | - | -€236 | |
| Remuneration, social security and pensions | 62 | €1,363 | €5,047 | +€3,684 | +270% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €995 | €5,614 | +€4,619 | +464% |
| Other operating charges | 640/8 | €822 | €8,608 | +€7,786 | +947% |
| Gross operating margin | 9900 | €21,006 | €10,813 | -€10,193 | -48.5% |
| Operating profit (loss) | 9901 | €17,827 | -€8,456 | -€26,283 | |
| Financial income | 75/76B | €0 | €2 | +€2 | +833% |
| Recurring financial income | 75 | €0 | €2 | +€2 | +833% |
| Financial charges | 65/66B | €490 | €3,129 | +€2,639 | +538% |
| Recurring financial charges | 65 | €490 | €3,129 | +€2,639 | +538% |
| Profit (loss) for the period before taxes | 9903 | €17,337 | -€11,583 | -€28,920 | |
| Income taxes | 67/77 | €3,806 | €503 | -€3,303 | -86.8% |
| Profit (loss) for the period | 9904 | €13,531 | -€12,086 | -€25,617 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,531 | -€12,086 | -€25,617 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.