EMMANUEL GHORAIN: what changed
What changed
EMMANUEL GHORAIN
NACE 31.004, Manufacture of dining room, living room, bedroom and bathroom furniture
filed annual accounts (NBB)
Net result for the year
€214,504
2024 · €144,951+€69,553
Equity
€1.7m
2024 · €1.5m+€214,404
Cash
€1.7m
2024 · €1.5m+€151,880
Balance sheet total
€1.7m
2024 · €1.5m+€176,723
Largest movements
Assets
- Cash +€151,880
up €151,880 (+10.1%), from €1.5m to €1.7m
mainly Net result for the year (+€214,504) and Depreciation (+€9,961)
- Tangible fixed assets +€22,108
up €22,108 (+128%), from €17,314 to €39,422
of which Furniture and vehicles: +€25,915
Equity and liabilities
- Reserves +€180,000
up €180,000 (+20.9%), from €861,860 to €1.0m
of which Distributable reserves: +€180,000
- Profit (loss) carried forward +€34,404
up €34,404 (+5.7%), from €602,569 to €636,973
- Tax, wage and social debts -€33,893
down €33,893 (-92.5%), from €36,626 to €2,733
of which Taxes: -€30,806
Income statement
- Turnover -€713,278
down €713,278 (-90.4%), from €788,689 to €75,411
- Purchases and services -€350,746
down €350,746 (-73.2%), from €478,903 to €128,157
- Staff costs -€107,462
down €107,462 (-93.3%), from €115,225 to €7,763
- Taxes +€44,801
up €44,801 (+76.7%), from €58,437 to €103,238
- Gross operating margin +€29,455
up €29,455 (+9.2%), from €318,557 to €348,012
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.
Result 2024
€144,951
Gross operating margin
+€29,455
Staff costs
+€107,462
Depreciation
-€2,044
Write-downs
-€15,628
Other operating charges
-€1,003
Financial income
-€4,789
Financial charges
+€901
Taxes
-€44,801
Result 2025
€214,504
raises the resultlowers the result
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.
From operations
+€186,623
Investment
-€32,069
Financing
-€2,674
Cash 2024
€1.5m
From operations (derived)
+€186,623
Net result for the year
+€214,504
Depreciation
+€9,961
Receivables within one year
-€2,735
Trade debts
-€3,111
Tax, wage and social debts
-€33,893
Other debts
+€1,897
Investment (derived)
-€32,069
Investment in fixed assets (net)
-€32,069
Financing
-€2,674
Current portion of long-term debt
-€2,574
Contributions, distributions and other
-€100
Cash 2025
€1.7m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,537,890 | €1,714,613 | +€176,723 | +11.5% |
| Fixed assets | 21/28 | €17,444 | €39,552 | +€22,108 | +127% |
| Tangible fixed assets | 22/27 | €17,314 | €39,422 | +€22,108 | +128% |
| Land and buildings | 22 | €1,686 | €1,264 | -€422 | -25.0% |
| Plant, machinery and equipment | 23 | €3,385 | - | -€3,385 | |
| Furniture and vehicles | 24 | €12,243 | €38,158 | +€25,915 | +212% |
| Financial fixed assets | 28 | €130 | €130 | = | 0.0% |
| Current assets | 29/58 | €1,520,446 | €1,675,061 | +€154,615 | +10.2% |
| Amounts receivable within one year | 40/41 | €16,370 | €19,105 | +€2,735 | +16.7% |
| Trade receivables | 40 | €16,370 | €19,105 | +€2,735 | +16.7% |
| Cash at bank and in hand | 54/58 | €1,504,076 | €1,655,956 | +€151,880 | +10.1% |
| Total equity and liabilities | 10/49 | €1,537,890 | €1,714,613 | +€176,723 | +11.5% |
| Equity | 10/15 | €1,476,829 | €1,691,233 | +€214,404 | +14.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Capital | 10 | €12,400 | €12,400 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €861,860 | €1,041,860 | +€180,000 | +20.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €860,000 | €1,040,000 | +€180,000 | +20.9% |
| Profit (loss) carried forward | 14 | €602,569 | €636,973 | +€34,404 | +5.7% |
| Amounts payable | 17/49 | €61,061 | €23,380 | -€37,681 | -61.7% |
| Amounts payable within one year | 42/48 | €61,061 | €23,380 | -€37,681 | -61.7% |
| Current portion of amounts payable after more than one year | 42 | €6,521 | €3,947 | -€2,574 | -39.5% |
| Trade debts | 44 | €7,606 | €4,495 | -€3,111 | -40.9% |
| Suppliers | 440/4 | €7,606 | €4,495 | -€3,111 | -40.9% |
| Taxes, remuneration and social security | 45 | €36,626 | €2,733 | -€33,893 | -92.5% |
| Taxes | 450/3 | €33,539 | €2,733 | -€30,806 | -91.9% |
| Remuneration and social security | 454/9 | €3,087 | - | -€3,087 | |
| Other amounts payable | 47/48 | €10,308 | €12,205 | +€1,897 | +18.4% |
| Turnover | 70 | €788,689 | €75,411 | -€713,278 | -90.4% |
| Non-recurring operating income | 76A | - | €380,000 | +€380,000 | |
| Goods, raw materials, services and sundry goods | 60/61 | €478,903 | €128,157 | -€350,746 | -73.2% |
| Remuneration, social security and pensions | 62 | €115,225 | €7,763 | -€107,462 | -93.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,917 | €9,961 | +€2,044 | +25.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €15,628 | +€15,628 | |
| Other operating charges | 640/8 | - | €1,003 | +€1,003 | |
| Gross operating margin | 9900 | €318,557 | €348,012 | +€29,455 | +9.2% |
| Operating profit (loss) | 9901 | €195,415 | €313,657 | +€118,242 | +60.5% |
| Financial income | 75/76B | €9,663 | €4,874 | -€4,789 | -49.6% |
| Recurring financial income | 75 | €9,663 | €4,874 | -€4,789 | -49.6% |
| Financial charges | 65/66B | €1,690 | €789 | -€901 | -53.3% |
| Recurring financial charges | 65 | €1,690 | €789 | -€901 | -53.3% |
| Profit (loss) for the period before taxes | 9903 | €203,388 | €317,742 | +€114,354 | +56.2% |
| Income taxes | 67/77 | €58,437 | €103,238 | +€44,801 | +76.7% |
| Profit (loss) for the period | 9904 | €144,951 | €214,504 | +€69,553 | +48.0% |
| Profit (loss) for the period to be appropriated | 9905 | €144,951 | €214,504 | +€69,553 | +48.0% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.