EmMaThe GEST: 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.
EmMaThe GEST
Largest movements
- Receivables within one year +€38,650
up €38,650 (+98.9%), from €39,075 to €77,725
- Tangible fixed assets -€6,301
down €6,301 (-12.0%), from €52,435 to €46,134
of which Other tangible fixed assets: -€5,000
- Cash -€5,155
down €5,155 (-36.1%), from €14,282 to €9,127
mainly Contributions, distributions and other (-€73,859) and Receivables within one year (-€38,650)
- Deferred charges and accrued income +€1,550
new in 2025: €1,550
- Other debts +€54,107
up €54,107 (+135.2%), from €40,018 to €94,125
- Tax, wage and social debts -€14,259
down €14,259 (-48.2%), from €29,602 to €15,343
of which Taxes: -€9,818
- Trade debts -€11,104
down €11,104 (-70.4%), from €15,776 to €4,672
- Gross operating margin +€66,725
up €66,725 (+142.0%), from €47,005 to €113,730
- Taxes +€15,679
up €15,679 (+112.2%), from €13,979 to €29,658
- Depreciation +€4,577
up €4,577 (+265.5%), from €1,724 to €6,301
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 | €105,857 | €134,601 | +€28,744 | +27.2% |
| Fixed assets | 21/28 | €52,500 | €46,199 | -€6,301 | -12.0% |
| Tangible fixed assets | 22/27 | €52,435 | €46,134 | -€6,301 | -12.0% |
| Furniture and vehicles | 24 | €3,218 | €1,917 | -€1,301 | -40.4% |
| Other tangible fixed assets | 26 | €49,216 | €44,217 | -€5,000 | -10.2% |
| Financial fixed assets | 28 | €65 | €65 | = | 0.0% |
| Current assets | 29/58 | €53,357 | €88,402 | +€35,045 | +65.7% |
| Amounts receivable within one year | 40/41 | €39,075 | €77,725 | +€38,650 | +98.9% |
| Trade receivables | 40 | €39,075 | €77,725 | +€38,650 | +98.9% |
| Cash at bank and in hand | 54/58 | €14,282 | €9,127 | -€5,155 | -36.1% |
| Deferred charges and accrued income | 490/1 | - | €1,550 | +€1,550 | |
| Total equity and liabilities | 10/49 | €105,857 | €134,601 | +€28,744 | +27.2% |
| Equity | 10/15 | €20,460 | €20,460 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Amounts payable | 17/49 | €85,397 | €114,141 | +€28,744 | +33.7% |
| Amounts payable within one year | 42/48 | €85,397 | €114,141 | +€28,744 | +33.7% |
| Trade debts | 44 | €15,776 | €4,672 | -€11,104 | -70.4% |
| Suppliers | 440/4 | €15,776 | €4,672 | -€11,104 | -70.4% |
| Taxes, remuneration and social security | 45 | €29,602 | €15,343 | -€14,259 | -48.2% |
| Taxes | 450/3 | €22,906 | €13,089 | -€9,818 | -42.9% |
| Remuneration and social security | 454/9 | €6,696 | €2,255 | -€4,441 | -66.3% |
| Other amounts payable | 47/48 | €40,018 | €94,125 | +€54,107 | +135.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,724 | €6,301 | +€4,577 | +265.5% |
| Other operating charges | 640/8 | €1,590 | €1,461 | -€129 | -8.1% |
| Gross operating margin | 9900 | €47,005 | €113,730 | +€66,725 | +142.0% |
| Operating profit (loss) | 9901 | €43,691 | €105,968 | +€62,277 | +142.5% |
| Financial income | 75/76B | €7 | - | -€7 | |
| Recurring financial income | 75 | €7 | - | -€7 | |
| Financial charges | 65/66B | €1,378 | €2,451 | +€1,073 | +77.9% |
| Recurring financial charges | 65 | €1,378 | €2,451 | +€1,073 | +77.9% |
| Profit (loss) for the period before taxes | 9903 | €42,320 | €103,517 | +€61,197 | +144.6% |
| Income taxes | 67/77 | €13,979 | €29,658 | +€15,679 | +112.2% |
| Profit (loss) for the period | 9904 | €28,341 | €73,859 | +€45,518 | +160.6% |
| Profit (loss) for the period to be appropriated | 9905 | €28,341 | €73,859 | +€45,518 | +160.6% |
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 11 October 2026 via checked.be.