Empass: 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.
What changed
Empass
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€466,902
2024 · €360,842+€106,060
Equity
€1.9m
2024 · €1.7m+€205,525
Cash
€118,280
2024 · €34,645+€83,635
Balance sheet total
€3.8m
2024 · €3.8m+€38,785
Largest movements
Assets
- Cash +€83,635
up €83,635 (+241%), from €34,645 to €118,280
mainly Net result for the year (+€466,902) and Depreciation (+€86,841)
- Tangible fixed assets -€48,639
down €48,639 (-2.0%), from €2.4m to €2.4m
of which Land and buildings: -€29,846
Equity and liabilities
- Reserves +€205,525
up €205,525 (+12.7%), from €1.6m to €1.8m
- Debts after one year -€115,114
down €115,114 (-10.0%), from €1.2m to €1.0m
Income statement
- Financial income +€108,308
up €108,308 (+456%), from €23,733 to €132,041
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.
Result 2024
€360,842
Gross operating margin
-€3,006
Depreciation
+€3,582
Other operating charges
-€3,848
Financial income
+€108,308
Financial charges
+€3,725
Taxes
-€2,701
Result 2025
€466,902
raises the resultlowers the result
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.
From operations
+€528,175
Investment
-€70,487
Financing
-€374,053
Cash 2024
€34,645
From operations (derived)
+€528,175
Net result for the year
+€466,902
Depreciation
+€86,841
Receivables within one year
+€28,693
Smaller working-capital items
+€428
Trade debts
-€17,216
Other debts
-€37,473
Investment (derived)
-€70,487
Investment in fixed assets (net)
-€38,202
Current investments
-€32,285
Financing
-€374,053
Debts after one year
-€115,114
Current portion of long-term debt
+€2,439
Contributions, distributions and other
-€261,377
Cash 2025
€118,280
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,779,932 | €3,818,717 | +€38,785 | +1.0% |
| Fixed assets | 21/28 | €2,411,846 | €2,363,208 | -€48,639 | -2.0% |
| Tangible fixed assets | 22/27 | €2,411,846 | €2,363,208 | -€48,639 | -2.0% |
| Land and buildings | 22 | €2,331,636 | €2,301,790 | -€29,846 | -1.3% |
| Furniture and vehicles | 24 | €2,617 | €2,278 | -€339 | -13.0% |
| Other tangible fixed assets | 26 | €77,594 | €59,140 | -€18,454 | -23.8% |
| Current assets | 29/58 | €1,368,086 | €1,455,509 | +€87,423 | +6.4% |
| Amounts receivable within one year | 40/41 | €109,782 | €81,089 | -€28,693 | -26.1% |
| Trade receivables | 40 | €42,512 | €49,603 | +€7,091 | +16.7% |
| Other amounts receivable | 41 | €67,270 | €31,486 | -€35,784 | -53.2% |
| Current investments | 50/53 | €1,217,996 | €1,250,281 | +€32,285 | +2.7% |
| Cash at bank and in hand | 54/58 | €34,645 | €118,280 | +€83,635 | +241% |
| Deferred charges and accrued income | 490/1 | €5,663 | €5,859 | +€196 | +3.5% |
| Total equity and liabilities | 10/49 | €3,779,932 | €3,818,717 | +€38,785 | +1.0% |
| Equity | 10/15 | €1,734,727 | €1,940,252 | +€205,525 | +11.8% |
| Contributions | 10/11 | €47,600 | €47,600 | = | 0.0% |
| Reserves | 13 | €1,612,996 | €1,818,520 | +€205,525 | +12.7% |
| Distributable reserves | 133 | €1,612,996 | €1,818,520 | +€205,525 | +12.7% |
| Profit (loss) carried forward | 14 | €74,131 | €74,131 | = | 0.0% |
| Amounts payable | 17/49 | €2,045,205 | €1,878,465 | -€166,740 | -8.2% |
| Amounts payable after more than one year | 17 | €1,152,162 | €1,037,048 | -€115,114 | -10.0% |
| Financial debts | 170/4 | €1,152,162 | €1,037,048 | -€115,114 | -10.0% |
| Amounts payable within one year | 42/48 | €893,043 | €841,417 | -€51,626 | -5.8% |
| Current portion of amounts payable after more than one year | 42 | €112,675 | €115,114 | +€2,439 | +2.2% |
| Trade debts | 44 | €19,062 | €1,846 | -€17,216 | -90.3% |
| Suppliers | 440/4 | €19,062 | €1,846 | -€17,216 | -90.3% |
| Taxes, remuneration and social security | 45 | €37,264 | €37,888 | +€624 | +1.7% |
| Taxes | 450/3 | €37,264 | €37,888 | +€624 | +1.7% |
| Other amounts payable | 47/48 | €724,042 | €686,569 | -€37,473 | -5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €90,422 | €86,841 | -€3,582 | -4.0% |
| Other operating charges | 640/8 | €6,285 | €10,132 | +€3,848 | +61.2% |
| Gross operating margin | 9900 | €673,006 | €670,000 | -€3,006 | -0.4% |
| Operating profit (loss) | 9901 | €576,299 | €573,027 | -€3,272 | -0.6% |
| Financial income | 75/76B | €23,733 | €132,041 | +€108,308 | +456% |
| Recurring financial income | 75 | €23,733 | €132,041 | +€108,308 | +456% |
| Financial charges | 65/66B | €72,693 | €68,968 | -€3,725 | -5.1% |
| Recurring financial charges | 65 | €72,693 | €68,968 | -€3,725 | -5.1% |
| Profit (loss) for the period before taxes | 9903 | €527,339 | €636,100 | +€108,761 | +20.6% |
| Income taxes | 67/77 | €166,497 | €169,198 | +€2,701 | +1.6% |
| Profit (loss) for the period | 9904 | €360,842 | €466,902 | +€106,060 | +29.4% |
| Profit (loss) for the period to be appropriated | 9905 | €360,842 | €466,902 | +€106,060 | +29.4% |
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 17 October 2026 via checked.be.