EMOTION: what changed
EMOTION
Largest movements
- Tangible fixed assets -€5,700
down €5,700 (-15.0%), from €37,965 to €32,265
of which Plant, machinery and equipment: -€2,979
- Cash +€5,452
up €5,452 (+13.4%), from €40,552 to €46,004
mainly Net result for the year (+€9,642) and Depreciation (+€5,700)
- Receivables within one year -€2,763
down €2,763 (-87.2%), from €3,169 to €406
- Profit (loss) carried forward +€9,642
up €9,642 (+23.7%), from €40,729 to €50,372
- Debts after one year -€7,036
no longer reported in 2025 (was €7,036)
- Other debts -€3,526
down €3,526 (-75.8%), from €4,650 to €1,124
- Current portion of long-term debt -€2,336
down €2,336 (-24.9%), from €9,372 to €7,036
- Tax, wage and social debts +€1,355
up €1,355 (+41.2%), from €3,293 to €4,648
- Gross operating margin +€16,522
up €16,522 (+341%), from €4,844 to €21,366
- Financial charges -€1,650
down €1,650 (-75.5%), from €2,186 to €535
- Other operating charges -€820
down €820 (-13.4%), from €6,106 to €5,286
- Taxes -€275
down €275 (-68.9%), from €398 to €124
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €84,128 | €81,815 | -€2,313 | -2.7% |
| Fixed assets | 21/28 | €38,157 | €32,457 | -€5,700 | -14.9% |
| Tangible fixed assets | 22/27 | €37,965 | €32,265 | -€5,700 | -15.0% |
| Land and buildings | 22 | €10,783 | €9,385 | -€1,398 | -13.0% |
| Plant, machinery and equipment | 23 | €22,885 | €19,905 | -€2,979 | -13.0% |
| Furniture and vehicles | 24 | €4,298 | €2,975 | -€1,322 | -30.8% |
| Financial fixed assets | 28 | €192 | €192 | = | 0.0% |
| Current assets | 29/58 | €45,971 | €49,358 | +€3,387 | +7.4% |
| Stocks and contracts in progress | 3 | €2,250 | €2,948 | +€698 | +31.0% |
| Stocks | 30/36 | €2,250 | €2,948 | +€698 | +31.0% |
| Amounts receivable within one year | 40/41 | €3,169 | €406 | -€2,763 | -87.2% |
| Other amounts receivable | 41 | €3,169 | €406 | -€2,763 | -87.2% |
| Cash at bank and in hand | 54/58 | €40,552 | €46,004 | +€5,452 | +13.4% |
| Total equity and liabilities | 10/49 | €84,128 | €81,815 | -€2,313 | -2.7% |
| Equity | 10/15 | €59,329 | €68,972 | +€9,642 | +16.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €40,729 | €50,372 | +€9,642 | +23.7% |
| Amounts payable | 17/49 | €24,798 | €12,843 | -€11,955 | -48.2% |
| Amounts payable after more than one year | 17 | €7,036 | - | -€7,036 | |
| Financial debts | 170/4 | €7,036 | - | -€7,036 | |
| Amounts payable within one year | 42/48 | €17,762 | €12,843 | -€4,919 | -27.7% |
| Current portion of amounts payable after more than one year | 42 | €9,372 | €7,036 | -€2,336 | -24.9% |
| Trade debts | 44 | €448 | €35 | -€413 | -92.2% |
| Suppliers | 440/4 | €448 | €35 | -€413 | -92.2% |
| Taxes, remuneration and social security | 45 | €3,293 | €4,648 | +€1,355 | +41.2% |
| Taxes | 450/3 | €3,293 | €4,648 | +€1,355 | +41.2% |
| Other amounts payable | 47/48 | €4,650 | €1,124 | -€3,526 | -75.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,700 | €5,700 | = | 0.0% |
| Other operating charges | 640/8 | €6,106 | €5,286 | -€820 | -13.4% |
| Non-recurring operating charges | 66A | - | €159 | +€159 | |
| Gross operating margin | 9900 | €4,844 | €21,366 | +€16,522 | +341% |
| Operating profit (loss) | 9901 | -€6,962 | €10,221 | +€17,183 | |
| Financial income | 75/76B | - | €80 | +€80 | |
| Recurring financial income | 75 | - | €80 | +€80 | |
| Financial charges | 65/66B | €2,186 | €535 | -€1,650 | -75.5% |
| Recurring financial charges | 65 | €2,186 | €535 | -€1,650 | -75.5% |
| Profit (loss) for the period before taxes | 9903 | -€9,147 | €9,766 | +€18,913 | |
| Income taxes | 67/77 | €398 | €124 | -€275 | -68.9% |
| Profit (loss) for the period | 9904 | -€9,546 | €9,642 | +€19,188 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,546 | €9,642 | +€19,188 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.