EMMAX: 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.
EMMAX
Largest movements
- Cash -€23,253
down €23,253 (-34.9%), from €66,586 to €43,333
mainly Net result for the year (-€28,964) and Investment in fixed assets (net) (-€2,030)
- Receivables within one year -€5,354
down €5,354 (-40.3%), from €13,270 to €7,916
of which Trade receivables: -€5,430
- Profit (loss) carried forward -€21,280
down €21,280, from €0 to -€21,280
- Reserves -€7,684
down €7,684 (-14.0%), from €54,742 to €47,058
- Gross operating margin -€20,489
down €20,489 (-1492.8%), from -€1,372 to -€21,861
- Financial income -€7,317
down €7,317 (-100.0%), from €7,321 to €3
of which Non-recurring financial income: -€7,321
- Financial charges +€699
up €699 (+25.3%), from €2,762 to €3,461
- Other operating charges +€621
up €621 (+49.8%), from €1,248 to €1,869
- Depreciation +€513
up €513 (+57.2%), from €897 to €1,410
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 | €85,191 | €57,359 | -€27,833 | -32.7% |
| Fixed assets | 21/28 | €2,487 | €3,107 | +€620 | +24.9% |
| Tangible fixed assets | 22/27 | €2,487 | €3,107 | +€620 | +24.9% |
| Furniture and vehicles | 24 | €2,487 | €1,114 | -€1,374 | -55.2% |
| Other tangible fixed assets | 26 | - | €1,994 | +€1,994 | |
| Current assets | 29/58 | €82,704 | €54,251 | -€28,453 | -34.4% |
| Amounts receivable within one year | 40/41 | €13,270 | €7,916 | -€5,354 | -40.3% |
| Trade receivables | 40 | €11,832 | €6,402 | -€5,430 | -45.9% |
| Other amounts receivable | 41 | €1,438 | €1,513 | +€76 | +5.3% |
| Cash at bank and in hand | 54/58 | €66,586 | €43,333 | -€23,253 | -34.9% |
| Deferred charges and accrued income | 490/1 | €2,848 | €3,002 | +€154 | +5.4% |
| Total equity and liabilities | 10/49 | €85,191 | €57,359 | -€27,833 | -32.7% |
| Equity | 10/15 | €60,942 | €31,978 | -€28,964 | -47.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €54,742 | €47,058 | -€7,684 | -14.0% |
| Distributable reserves | 133 | €54,742 | €47,058 | -€7,684 | -14.0% |
| Profit (loss) carried forward | 14 | €0 | -€21,280 | -€21,280 | |
| Amounts payable | 17/49 | €24,249 | €25,380 | +€1,131 | +4.7% |
| Amounts payable within one year | 42/48 | €24,207 | €25,380 | +€1,173 | +4.8% |
| Trade debts | 44 | €1,680 | €2,248 | +€568 | +33.8% |
| Suppliers | 440/4 | €1,680 | €2,248 | +€568 | +33.8% |
| Taxes, remuneration and social security | 45 | €6,000 | €6,123 | +€123 | +2.1% |
| Taxes | 450/3 | €6,000 | €6,123 | +€123 | +2.1% |
| Other amounts payable | 47/48 | €16,527 | €17,009 | +€481 | +2.9% |
| Accrued charges and deferred income | 492/3 | €42 | €0 | -€42 | -100.0% |
| Non-recurring operating income | 76A | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €897 | €1,410 | +€513 | +57.2% |
| Other operating charges | 640/8 | €1,248 | €1,869 | +€621 | +49.8% |
| Gross operating margin | 9900 | -€1,372 | -€21,861 | -€20,489 | -1492.8% |
| Operating profit (loss) | 9901 | -€3,517 | -€25,140 | -€21,623 | -614.8% |
| Financial income | 75/76B | €7,321 | €3 | -€7,317 | -100.0% |
| Recurring financial income | 75 | €0 | €3 | +€3 | |
| Non-recurring financial income | 76B | €7,321 | - | -€7,321 | |
| Financial charges | 65/66B | €2,762 | €3,461 | +€699 | +25.3% |
| Recurring financial charges | 65 | €2,762 | €3,461 | +€699 | +25.3% |
| Profit (loss) for the period before taxes | 9903 | €1,042 | -€28,597 | -€29,639 | |
| Income taxes | 67/77 | €862 | €366 | -€496 | -57.5% |
| Profit (loss) for the period | 9904 | €180 | -€28,964 | -€29,143 | |
| Profit (loss) for the period to be appropriated | 9905 | €180 | -€28,964 | -€29,143 |
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 5 October 2026 via checked.be.