EMMASHTREAM: what changed
Two fiscal 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.
EMMASHTREAM
Largest movements
- Cash -€74,153
down €74,153 (-61.8%), from €119,923 to €45,770
mainly Other debts (-€83,647) and Tax, wage and social debts (-€9,600)
- Tangible fixed assets +€2,126
up €2,126 (+307.5%), from €691 to €2,818
- Other debts -€83,647
down €83,647 (-93.3%), from €89,651 to €6,004
- Reserves +€21,329
up €21,329 (+96.1%), from €22,194 to €43,523
- Tax, wage and social debts -€9,600
down €9,600 (-93.8%), from €10,229 to €629
- Gross operating margin -€10,269
down €10,269 (-26.2%), from €39,216 to €28,946
- Taxes -€2,020
down €2,020 (-27.5%), from €7,352 to €5,332
- Depreciation +€964
up €964 (+454.8%), from €212 to €1,176
- Financial charges -€797
down €797 (-45.3%), from €1,760 to €963
- Financial income +€494
new in 2025: €494
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.
Cash bridge derived
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 | €125,074 | €53,249 | -€71,825 | -57.4% |
| Fixed assets | 21/28 | €691 | €2,818 | +€2,126 | +307.5% |
| Tangible fixed assets | 22/27 | €691 | €2,818 | +€2,126 | +307.5% |
| Furniture and vehicles | 24 | €691 | €2,818 | +€2,126 | +307.5% |
| Current assets | 29/58 | €124,382 | €50,432 | -€73,951 | -59.5% |
| Amounts receivable within one year | 40/41 | €4,459 | €4,662 | +€202 | +4.5% |
| Trade receivables | 40 | €778 | €2,846 | +€2,068 | +265.7% |
| Other amounts receivable | 41 | €3,681 | €1,816 | -€1,865 | -50.7% |
| Cash at bank and in hand | 54/58 | €119,923 | €45,770 | -€74,153 | -61.8% |
| Total equity and liabilities | 10/49 | €125,074 | €53,249 | -€71,825 | -57.4% |
| Equity | 10/15 | €25,194 | €46,523 | +€21,329 | +84.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €22,194 | €43,523 | +€21,329 | +96.1% |
| Distributable reserves | 133 | €22,194 | €43,523 | +€21,329 | +96.1% |
| Amounts payable | 17/49 | €99,880 | €6,726 | -€93,154 | -93.3% |
| Amounts payable within one year | 42/48 | €99,880 | €6,726 | -€93,154 | -93.3% |
| Trade debts | 44 | - | €93 | +€93 | |
| Suppliers | 440/4 | - | €93 | +€93 | |
| Taxes, remuneration and social security | 45 | €10,229 | €629 | -€9,600 | -93.8% |
| Taxes | 450/3 | €10,229 | €629 | -€9,600 | -93.8% |
| Other amounts payable | 47/48 | €89,651 | €6,004 | -€83,647 | -93.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €212 | €1,176 | +€964 | +454.8% |
| Other operating charges | 640/8 | €497 | €640 | +€143 | +28.8% |
| Gross operating margin | 9900 | €39,216 | €28,946 | -€10,269 | -26.2% |
| Operating profit (loss) | 9901 | €38,506 | €27,130 | -€11,376 | -29.5% |
| Financial income | 75/76B | - | €494 | +€494 | |
| Recurring financial income | 75 | - | €494 | +€494 | |
| Financial charges | 65/66B | €1,760 | €963 | -€797 | -45.3% |
| Recurring financial charges | 65 | €1,760 | €963 | -€797 | -45.3% |
| Profit (loss) for the period before taxes | 9903 | €36,746 | €26,661 | -€10,085 | -27.4% |
| Income taxes | 67/77 | €7,352 | €5,332 | -€2,020 | -27.5% |
| Profit (loss) for the period | 9904 | €29,394 | €21,329 | -€8,065 | -27.4% |
| Profit (loss) for the period to be appropriated | 9905 | €29,394 | €21,329 | -€8,065 | -27.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.