EMMANUEL PARTNERS: 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 PARTNERS
Largest movements
- Tangible fixed assets -€62,220
down €62,220 (-10.0%), from €625,173 to €562,953
of which Land and buildings: -€57,747
- Receivables within one year -€54,723
down €54,723 (-82.4%), from €66,424 to €11,701
of which Other amounts receivable: -€55,905
- Short-term financial debts -€130,000
down €130,000 (-100%), from €130,000 to €0
- Other debts +€40,392
up €40,392, from €0 to €40,392
- Debts after one year -€34,308
down €34,308 (-15.3%), from €224,539 to €190,231
- Reserves -€27,843
down €27,843 (-10.0%), from €277,111 to €249,268
of which Tax-exempt reserves: -€27,843
- Trade debts +€22,727
up €22,727 (+101%), from €22,494 to €45,221
- Gross operating margin +€119,162
up €119,162, from -€49,286 to €69,875
- Depreciation -€21,681
down €21,681 (-25.4%), from €85,251 to €63,570
- Other operating charges -€2,242
down €2,242 (-22.1%), from €10,128 to €7,886
- Financial income -€1,148
down €1,148 (-100.0%), from €1,149 to €0
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 | €705,200 | €588,569 | -€116,631 | -16.5% |
| Fixed assets | 21/28 | €625,173 | €562,953 | -€62,220 | -10.0% |
| Tangible fixed assets | 22/27 | €625,173 | €562,953 | -€62,220 | -10.0% |
| Land and buildings | 22 | €617,915 | €560,168 | -€57,747 | -9.3% |
| Furniture and vehicles | 24 | €7,258 | €2,785 | -€4,473 | -61.6% |
| Current assets | 29/58 | €80,028 | €25,616 | -€54,411 | -68.0% |
| Amounts receivable within one year | 40/41 | €66,424 | €11,701 | -€54,723 | -82.4% |
| Trade receivables | 40 | €7,818 | €9,000 | +€1,182 | +15.1% |
| Other amounts receivable | 41 | €58,606 | €2,701 | -€55,905 | -95.4% |
| Cash at bank and in hand | 54/58 | €11,311 | €12,452 | +€1,141 | +10.1% |
| Deferred charges and accrued income | 490/1 | €2,292 | €1,464 | -€829 | -36.2% |
| Total equity and liabilities | 10/49 | €705,200 | €588,569 | -€116,631 | -16.5% |
| Equity | 10/15 | €197,739 | €189,158 | -€8,581 | -4.3% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €277,111 | €249,268 | -€27,843 | -10.0% |
| Non-distributable reserves | 130/1 | €2,492 | €2,492 | = | 0.0% |
| Legal reserve | 130 | €2,492 | €2,492 | = | 0.0% |
| Tax-exempt reserves | 132 | €231,579 | €203,736 | -€27,843 | -12.0% |
| Distributable reserves | 133 | €43,040 | €43,040 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€140,873 | -€121,611 | +€19,262 | +13.7% |
| Provisions and deferred taxes | 16 | €77,193 | €67,912 | -€9,281 | -12.0% |
| Deferred taxes | 168 | €77,193 | €67,912 | -€9,281 | -12.0% |
| Amounts payable | 17/49 | €430,269 | €331,500 | -€98,769 | -23.0% |
| Amounts payable after more than one year | 17 | €224,539 | €190,231 | -€34,308 | -15.3% |
| Financial debts | 170/4 | €224,539 | €190,231 | -€34,308 | -15.3% |
| Amounts payable within one year | 42/48 | €205,729 | €141,268 | -€64,461 | -31.3% |
| Current portion of amounts payable after more than one year | 42 | €51,830 | €54,837 | +€3,008 | +5.8% |
| Financial debts | 43 | €130,000 | €0 | -€130,000 | -100% |
| Credit institutions | 430/8 | €130,000 | €0 | -€130,000 | -100% |
| Trade debts | 44 | €22,494 | €45,221 | +€22,727 | +101% |
| Suppliers | 440/4 | €22,494 | €45,221 | +€22,727 | +101% |
| Taxes, remuneration and social security | 45 | €1,406 | €819 | -€587 | -41.8% |
| Taxes | 450/3 | €1,406 | €819 | -€587 | -41.8% |
| Remuneration and social security | 454/9 | - | €0 | = | |
| Other amounts payable | 47/48 | €0 | €40,392 | +€40,392 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Turnover | 70 | - | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,251 | €63,570 | -€21,681 | -25.4% |
| Other operating charges | 640/8 | €10,128 | €7,886 | -€2,242 | -22.1% |
| Gross operating margin | 9900 | -€49,286 | €69,875 | +€119,162 | |
| Operating profit (loss) | 9901 | -€144,665 | -€1,580 | +€143,085 | +98.9% |
| Financial income | 75/76B | €1,149 | €0 | -€1,148 | -100.0% |
| Recurring financial income | 75 | €1,149 | €0 | -€1,148 | -100.0% |
| Financial charges | 65/66B | €15,677 | €15,906 | +€229 | +1.5% |
| Recurring financial charges | 65 | €15,677 | €15,906 | +€229 | +1.5% |
| Profit (loss) for the period before taxes | 9903 | -€159,193 | -€17,486 | +€141,708 | +89.0% |
| Transfer from deferred taxes | 780 | €9,281 | €9,281 | = | 0.0% |
| Income taxes | 67/77 | €452 | €377 | -€76 | -16.7% |
| Profit (loss) for the period | 9904 | -€150,364 | -€8,581 | +€141,783 | +94.3% |
| Transfer from tax-exempt reserves | 789 | €27,843 | €27,843 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€122,521 | €19,262 | +€141,783 |
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 20 October 2026 via checked.be.