EMNO: 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.
EMNO
Largest movements
- Tangible fixed assets -€24,074
down €24,074 (-22.8%), from €105,751 to €81,677
of which Furniture and vehicles: -€18,736
- Receivables within one year +€6,366
up €6,366 (+44.2%), from €14,411 to €20,777
of which Trade receivables: +€6,188
- Cash +€2,088
up €2,088 (+2.7%), from €77,565 to €79,653
mainly Other debts (+€95,730) and Net result for the year (+€33,418)
- Other debts +€95,730
new in 2025: €95,730
- Reserves -€85,875
down €85,875 (-72.0%), from €119,293 to €33,418
- Debts after one year -€17,520
down €17,520 (-40.1%), from €43,714 to €26,195
- Tax, wage and social debts -€7,272
down €7,272 (-50.8%), from €14,311 to €7,039
of which Taxes: -€10,087
- Gross operating margin -€13,685
down €13,685 (-15.6%), from €87,694 to €74,009
- Taxes -€2,972
down €2,972 (-24.2%), from €12,260 to €9,288
- Depreciation +€1,913
up €1,913 (+7.3%), from €26,328 to €28,241
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 | €198,461 | €182,667 | -€15,794 | -8.0% |
| Fixed assets | 21/28 | €105,751 | €81,677 | -€24,074 | -22.8% |
| Tangible fixed assets | 22/27 | €105,751 | €81,677 | -€24,074 | -22.8% |
| Plant, machinery and equipment | 23 | €816 | €79 | -€736 | -90.3% |
| Furniture and vehicles | 24 | €68,680 | €49,943 | -€18,736 | -27.3% |
| Other tangible fixed assets | 26 | €36,256 | €31,654 | -€4,601 | -12.7% |
| Current assets | 29/58 | €92,710 | €100,990 | +€8,280 | +8.9% |
| Amounts receivable within one year | 40/41 | €14,411 | €20,777 | +€6,366 | +44.2% |
| Trade receivables | 40 | €13,713 | €19,901 | +€6,188 | +45.1% |
| Other amounts receivable | 41 | €698 | €876 | +€178 | +25.5% |
| Cash at bank and in hand | 54/58 | €77,565 | €79,653 | +€2,088 | +2.7% |
| Deferred charges and accrued income | 490/1 | €733 | €559 | -€174 | -23.7% |
| Total equity and liabilities | 10/49 | €198,461 | €182,667 | -€15,794 | -8.0% |
| Equity | 10/15 | €121,793 | €35,918 | -€85,875 | -70.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €119,293 | €33,418 | -€85,875 | -72.0% |
| Distributable reserves | 133 | €119,293 | €33,418 | -€85,875 | -72.0% |
| Amounts payable | 17/49 | €76,668 | €146,749 | +€70,081 | +91.4% |
| Amounts payable after more than one year | 17 | €43,714 | €26,195 | -€17,520 | -40.1% |
| Financial debts | 170/4 | €43,714 | €26,195 | -€17,520 | -40.1% |
| Amounts payable within one year | 42/48 | €32,954 | €120,554 | +€87,600 | +265.8% |
| Current portion of amounts payable after more than one year | 42 | €16,756 | €17,520 | +€764 | +4.6% |
| Trade debts | 44 | €1,887 | €265 | -€1,622 | -85.9% |
| Suppliers | 440/4 | €1,887 | €265 | -€1,622 | -85.9% |
| Taxes, remuneration and social security | 45 | €14,311 | €7,039 | -€7,272 | -50.8% |
| Taxes | 450/3 | €14,311 | €4,224 | -€10,087 | -70.5% |
| Remuneration and social security | 454/9 | - | €2,815 | +€2,815 | |
| Other amounts payable | 47/48 | - | €95,730 | +€95,730 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,328 | €28,241 | +€1,913 | +7.3% |
| Other operating charges | 640/8 | €893 | €869 | -€24 | -2.7% |
| Gross operating margin | 9900 | €87,694 | €74,009 | -€13,685 | -15.6% |
| Operating profit (loss) | 9901 | €60,474 | €44,900 | -€15,574 | -25.8% |
| Financial income | 75/76B | €50 | €304 | +€254 | +507.3% |
| Recurring financial income | 75 | €50 | €304 | +€254 | +507.3% |
| Financial charges | 65/66B | €3,221 | €2,498 | -€723 | -22.5% |
| Recurring financial charges | 65 | €3,221 | €2,498 | -€723 | -22.5% |
| Profit (loss) for the period before taxes | 9903 | €57,303 | €42,705 | -€14,597 | -25.5% |
| Income taxes | 67/77 | €12,260 | €9,288 | -€2,972 | -24.2% |
| Profit (loss) for the period | 9904 | €45,043 | €33,418 | -€11,625 | -25.8% |
| Profit (loss) for the period to be appropriated | 9905 | €45,043 | €33,418 | -€11,625 | -25.8% |
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 7 October 2026 via checked.be.