Emmanuel DOCQ: 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.
Emmanuel DOCQ
Largest movements
- Financial fixed assets +€100,000
new in 2025: €100,000
- Receivables within one year -€52,168
down €52,168 (-60.6%), from €86,079 to €33,911
of which Trade receivables: -€57,816
- Tangible fixed assets +€43,587
up €43,587 (+20.5%), from €212,932 to €256,519
of which Furniture and vehicles: +€53,004
- Cash -€31,350
down €31,350 (-66.2%), from €47,379 to €16,029
mainly Investment in fixed assets (net) (-€205,722) and Current portion of long-term debt (-€2,629)
- Debts after one year +€32,308
up €32,308 (+32.3%), from €100,047 to €132,355
- Reserves +€18,969
up €18,969 (+40.3%), from €47,098 to €66,067
of which Distributable reserves: +€18,969
- Trade debts +€5,094
up €5,094 (+114%), from €4,479 to €9,573
- Other debts +€4,680
up €4,680 (+3.5%), from €134,624 to €139,303
- Write-downs -€32,306
no longer reported in 2025 (was €32,306)
- Gross operating margin -€14,936
down €14,936 (-7.5%), from €198,426 to €183,490
- Depreciation +€13,321
up €13,321 (+27.3%), from €48,814 to €62,135
- Taxes +€4,379
up €4,379 (+49.5%), from €8,846 to €13,225
- Other operating charges -€3,852
down €3,852 (-39.1%), from €9,843 to €5,991
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 | €348,267 | €406,700 | +€58,433 | +16.8% |
| Fixed assets | 21/28 | €212,932 | €356,519 | +€143,587 | +67.4% |
| Tangible fixed assets | 22/27 | €212,932 | €256,519 | +€43,587 | +20.5% |
| Land and buildings | 22 | €112,446 | €98,779 | -€13,667 | -12.2% |
| Furniture and vehicles | 24 | €100,487 | €153,490 | +€53,004 | +52.7% |
| Assets under construction and advance payments | 27 | - | €4,250 | +€4,250 | |
| Financial fixed assets | 28 | - | €100,000 | +€100,000 | |
| Current assets | 29/58 | €135,334 | €50,180 | -€85,154 | -62.9% |
| Amounts receivable within one year | 40/41 | €86,079 | €33,911 | -€52,168 | -60.6% |
| Trade receivables | 40 | €74,763 | €16,948 | -€57,816 | -77.3% |
| Other amounts receivable | 41 | €11,315 | €16,963 | +€5,648 | +49.9% |
| Cash at bank and in hand | 54/58 | €47,379 | €16,029 | -€31,350 | -66.2% |
| Deferred charges and accrued income | 490/1 | €1,877 | €241 | -€1,636 | -87.2% |
| Total equity and liabilities | 10/49 | €348,267 | €406,700 | +€58,433 | +16.8% |
| Equity | 10/15 | €76,353 | €94,489 | +€18,136 | +23.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €47,098 | €66,067 | +€18,969 | +40.3% |
| Tax-exempt reserves | 132 | €3,000 | €3,000 | = | 0.0% |
| Distributable reserves | 133 | €44,098 | €63,067 | +€18,969 | +43.0% |
| Profit (loss) carried forward | 14 | €10,655 | €9,822 | -€833 | -7.8% |
| Amounts payable | 17/49 | €271,914 | €312,210 | +€40,296 | +14.8% |
| Amounts payable after more than one year | 17 | €100,047 | €132,355 | +€32,308 | +32.3% |
| Financial debts | 170/4 | €100,047 | €132,355 | +€32,308 | +32.3% |
| Amounts payable within one year | 42/48 | €171,867 | €179,855 | +€7,988 | +4.6% |
| Current portion of amounts payable after more than one year | 42 | €28,589 | €25,960 | -€2,629 | -9.2% |
| Trade debts | 44 | €4,479 | €9,573 | +€5,094 | +114% |
| Suppliers | 440/4 | €4,479 | €9,573 | +€5,094 | +114% |
| Taxes, remuneration and social security | 45 | €4,176 | €5,018 | +€843 | +20.2% |
| Taxes | 450/3 | €2,593 | €3,033 | +€439 | +16.9% |
| Remuneration and social security | 454/9 | €1,582 | €1,986 | +€403 | +25.5% |
| Other amounts payable | 47/48 | €134,624 | €139,303 | +€4,680 | +3.5% |
| Remuneration, social security and pensions | 62 | €69,824 | €72,000 | +€2,176 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,814 | €62,135 | +€13,321 | +27.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €32,306 | - | -€32,306 | |
| Other operating charges | 640/8 | €9,843 | €5,991 | -€3,852 | -39.1% |
| Gross operating margin | 9900 | €198,426 | €183,490 | -€14,936 | -7.5% |
| Operating profit (loss) | 9901 | €37,638 | €43,364 | +€5,726 | +15.2% |
| Financial income | 75/76B | €697 | €826 | +€129 | +18.5% |
| Recurring financial income | 75 | €697 | €826 | +€129 | +18.5% |
| Financial charges | 65/66B | €10,291 | €11,996 | +€1,705 | +16.6% |
| Recurring financial charges | 65 | €10,291 | €11,996 | +€1,705 | +16.6% |
| Profit (loss) for the period before taxes | 9903 | €28,044 | €32,194 | +€4,150 | +14.8% |
| Income taxes | 67/77 | €8,846 | €13,225 | +€4,379 | +49.5% |
| Profit (loss) for the period | 9904 | €19,198 | €18,969 | -€229 | -1.2% |
| Profit (loss) for the period to be appropriated | 9905 | €19,198 | €18,969 | -€229 | -1.2% |
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.