EMMAS: 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.
EMMAS
Largest movements
- Tangible fixed assets -€40,816
down €40,816 (-28.8%), from €141,735 to €100,918
of which Furniture and vehicles: -€51,274
- Receivables within one year -€36,803
down €36,803 (-27.4%), from €134,297 to €97,494
of which Trade receivables: -€35,451
- Intangible fixed assets -€16,255
down €16,255 (-11.6%), from €140,508 to €124,253
- Trade debts -€41,761
down €41,761 (-32.4%), from €129,025 to €87,264
- Debts after one year -€30,049
down €30,049 (-18.8%), from €159,662 to €129,612
- Profit (loss) carried forward -€27,859
down €27,859 (-48.1%), from -€57,947 to -€85,806
- Other debts +€5,030
up €5,030 (+3.1%), from €162,923 to €167,953
- Gross operating margin -€59,181
down €59,181 (-70.6%), from €83,825 to €24,644
- Staff costs -€33,864
down €33,864 (-94.6%), from €35,809 to €1,945
- Financial income +€10,091
up €10,091 (+5,182%), from €195 to €10,286
of which Non-recurring financial income: +€10,085
- Depreciation -€1,260
down €1,260 (-2.5%), from €51,317 to €50,058
- Financial charges -€1,132
down €1,132 (-10.8%), from €10,459 to €9,327
of which Financial charges: -€836
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 | €433,082 | €339,752 | -€93,330 | -21.6% |
| Fixed assets | 21/28 | €282,242 | €225,171 | -€57,071 | -20.2% |
| Intangible fixed assets | 21 | €140,508 | €124,253 | -€16,255 | -11.6% |
| Tangible fixed assets | 22/27 | €141,735 | €100,918 | -€40,816 | -28.8% |
| Plant, machinery and equipment | 23 | €808 | €9,177 | +€8,369 | +1,035% |
| Furniture and vehicles | 24 | €114,445 | €63,171 | -€51,274 | -44.8% |
| Other tangible fixed assets | 26 | €26,481 | €28,570 | +€2,089 | +7.9% |
| Current assets | 29/58 | €150,839 | €114,581 | -€36,258 | -24.0% |
| Amounts receivable after more than one year | 29 | €7,500 | €7,500 | = | 0.0% |
| Other amounts receivable | 291 | €7,500 | €7,500 | = | 0.0% |
| Stocks and contracts in progress | 3 | €748 | €3,106 | +€2,358 | +315% |
| Stocks | 30/36 | €748 | €3,106 | +€2,358 | +315% |
| Amounts receivable within one year | 40/41 | €134,297 | €97,494 | -€36,803 | -27.4% |
| Trade receivables | 40 | €127,693 | €92,242 | -€35,451 | -27.8% |
| Other amounts receivable | 41 | €6,604 | €5,252 | -€1,352 | -20.5% |
| Cash at bank and in hand | 54/58 | €8,231 | €6,386 | -€1,845 | -22.4% |
| Deferred charges and accrued income | 490/1 | €64 | €96 | +€32 | +50.2% |
| Total equity and liabilities | 10/49 | €433,082 | €339,752 | -€93,330 | -21.6% |
| Equity | 10/15 | -€47,947 | -€75,806 | -€27,859 | -58.1% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€57,947 | -€85,806 | -€27,859 | -48.1% |
| Amounts payable | 17/49 | €481,029 | €415,558 | -€65,471 | -13.6% |
| Amounts payable after more than one year | 17 | €159,662 | €129,612 | -€30,049 | -18.8% |
| Financial debts | 170/4 | €159,662 | €129,612 | -€30,049 | -18.8% |
| Amounts payable within one year | 42/48 | €321,367 | €285,946 | -€35,421 | -11.0% |
| Current portion of amounts payable after more than one year | 42 | €28,633 | €30,049 | +€1,416 | +4.9% |
| Trade debts | 44 | €129,025 | €87,264 | -€41,761 | -32.4% |
| Suppliers | 440/4 | €129,025 | €87,264 | -€41,761 | -32.4% |
| Taxes, remuneration and social security | 45 | €786 | €679 | -€107 | -13.6% |
| Taxes | 450/3 | €786 | €679 | -€107 | -13.6% |
| Other amounts payable | 47/48 | €162,923 | €167,953 | +€5,030 | +3.1% |
| Non-recurring operating income | 76A | - | €10,085 | +€10,085 | |
| Remuneration, social security and pensions | 62 | €35,809 | €1,945 | -€33,864 | -94.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,317 | €50,058 | -€1,260 | -2.5% |
| Other operating charges | 640/8 | €1,090 | €892 | -€198 | -18.2% |
| Gross operating margin | 9900 | €83,825 | €24,644 | -€59,181 | -70.6% |
| Operating profit (loss) | 9901 | -€4,392 | -€28,251 | -€23,859 | -543% |
| Financial income | 75/76B | €195 | €10,286 | +€10,091 | +5,182% |
| Recurring financial income | 75 | €195 | €201 | +€6 | +3.2% |
| Non-recurring financial income | 76B | - | €10,085 | +€10,085 | |
| Financial charges | 65/66B | €10,459 | €9,327 | -€1,132 | -10.8% |
| Recurring financial charges | 65 | €10,163 | €9,327 | -€836 | -8.2% |
| Non-recurring financial charges | 66B | €296 | - | -€296 | |
| Profit (loss) for the period before taxes | 9903 | -€14,656 | -€27,293 | -€12,636 | -86.2% |
| Income taxes | 67/77 | - | €566 | +€566 | |
| Profit (loss) for the period | 9904 | -€14,656 | -€27,859 | -€13,203 | -90.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,656 | -€27,859 | -€13,203 | -90.1% |
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 14 October 2026 via checked.be.