Emnaz Enterprise: 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.
Emnaz Enterprise
Largest movements
- Tangible fixed assets +€152,025
new in 2025: €152,025
- Receivables within one year +€97,351
up €97,351 (+128%), from €75,858 to €173,209
of which Other amounts receivable: +€86,227
- Deferred charges and accrued income -€21,631
no longer reported in 2025 (was €21,631)
- Cash +€12,959
up €12,959 (+354%), from €3,659 to €16,618
mainly Debts after one year (+€109,073) and Net result for the year (+€101,345)
- Current investments +€7,748
new in 2025: €7,748
- Debts after one year +€109,073
new in 2025: €109,073
- Reserves +€101,345
up €101,345 (+143%), from €70,969 to €172,314
- Current portion of long-term debt +€30,630
new in 2025: €30,630
- Tax, wage and social debts +€8,756
up €8,756 (+46.3%), from €18,931 to €27,686
- Gross operating margin +€90,288
up €90,288 (+100%), from €89,935 to €180,223
- Depreciation +€27,590
new in 2025: €27,590
- Taxes +€15,336
up €15,336 (+81.0%), from €18,931 to €34,267
- Other operating charges +€13,440
up €13,440 (+2,599%), from €517 to €13,957
- Financial charges +€2,868
up €2,868 (+1,404%), from €204 to €3,072
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 | €101,148 | €349,600 | +€248,452 | +246% |
| Fixed assets | 21/28 | - | €152,025 | +€152,025 | |
| Tangible fixed assets | 22/27 | - | €152,025 | +€152,025 | |
| Leasing and similar rights | 25 | - | €152,025 | +€152,025 | |
| Current assets | 29/58 | €101,148 | €197,575 | +€96,427 | +95.3% |
| Amounts receivable within one year | 40/41 | €75,858 | €173,209 | +€97,351 | +128% |
| Trade receivables | 40 | - | €11,124 | +€11,124 | |
| Other amounts receivable | 41 | €75,858 | €162,085 | +€86,227 | +114% |
| Current investments | 50/53 | - | €7,748 | +€7,748 | |
| Cash at bank and in hand | 54/58 | €3,659 | €16,618 | +€12,959 | +354% |
| Deferred charges and accrued income | 490/1 | €21,631 | - | -€21,631 | |
| Total equity and liabilities | 10/49 | €101,148 | €349,600 | +€248,452 | +246% |
| Equity | 10/15 | €75,969 | €177,314 | +€101,345 | +133% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €70,969 | €172,314 | +€101,345 | +143% |
| Distributable reserves | 133 | €70,969 | €172,314 | +€101,345 | +143% |
| Amounts payable | 17/49 | €25,179 | €172,287 | +€147,107 | +584% |
| Amounts payable after more than one year | 17 | - | €109,073 | +€109,073 | |
| Financial debts | 170/4 | - | €109,073 | +€109,073 | |
| Amounts payable within one year | 42/48 | €25,179 | €63,213 | +€38,034 | +151% |
| Current portion of amounts payable after more than one year | 42 | - | €30,630 | +€30,630 | |
| Trade debts | 44 | €6,249 | €4,897 | -€1,352 | -21.6% |
| Suppliers | 440/4 | €6,249 | €4,897 | -€1,352 | -21.6% |
| Taxes, remuneration and social security | 45 | €18,931 | €27,686 | +€8,756 | +46.3% |
| Taxes | 450/3 | €18,931 | €27,686 | +€8,756 | +46.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €27,590 | +€27,590 | |
| Other operating charges | 640/8 | €517 | €13,957 | +€13,440 | +2,599% |
| Gross operating margin | 9900 | €89,935 | €180,223 | +€90,288 | +100% |
| Operating profit (loss) | 9901 | €89,418 | €138,676 | +€49,258 | +55.1% |
| Financial income | 75/76B | €686 | €8 | -€678 | -98.9% |
| Recurring financial income | 75 | €686 | €8 | -€678 | -98.9% |
| Financial charges | 65/66B | €204 | €3,072 | +€2,868 | +1,404% |
| Recurring financial charges | 65 | €204 | €3,072 | +€2,868 | +1,404% |
| Profit (loss) for the period before taxes | 9903 | €89,900 | €135,612 | +€45,712 | +50.8% |
| Income taxes | 67/77 | €18,931 | €34,267 | +€15,336 | +81.0% |
| Profit (loss) for the period | 9904 | €70,969 | €101,345 | +€30,376 | +42.8% |
| Profit (loss) for the period to be appropriated | 9905 | €70,969 | €101,345 | +€30,376 | +42.8% |
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 21 October 2026 via checked.be.