EMPAZA: 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.
EMPAZA
Largest movements
- Receivables within one year +€68,994
up €68,994 (+175.5%), from €39,308 to €108,302
of which Other amounts receivable: +€70,204
- Cash -€52,112
down €52,112 (-16.3%), from €319,569 to €267,457
mainly Contributions, distributions and other (-€130,000) and Receivables within one year (-€68,994)
- Profit (loss) carried forward -€130,000
down €130,000 (-92.7%), from €140,304 to €10,304
- Other debts +€110,500
up €110,500, from €0 to €110,500
- Tax, wage and social debts +€18,320
up €18,320 (+150.2%), from €12,194 to €30,514
- Reserves +€17,778
up €17,778 (+9.1%), from €194,731 to €212,509
of which Distributable reserves: +€17,778
- Gross operating margin -€10,059
down €10,059 (-28.4%), from €35,469 to €25,410
- Taxes -€2,333
down €2,333 (-26.0%), from €8,962 to €6,629
- Financial income +€975
new in 2025: €975
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 | €361,278 | €377,238 | +€15,960 | +4.4% |
| Fixed assets | 21/28 | €2,401 | €1,479 | -€922 | -38.4% |
| Tangible fixed assets | 22/27 | €2,397 | €1,475 | -€922 | -38.5% |
| Plant, machinery and equipment | 23 | €2,397 | €1,475 | -€922 | -38.5% |
| Financial fixed assets | 28 | €4 | €4 | = | 0.0% |
| Current assets | 29/58 | €358,877 | €375,759 | +€16,882 | +4.7% |
| Amounts receivable within one year | 40/41 | €39,308 | €108,302 | +€68,994 | +175.5% |
| Trade receivables | 40 | €14,308 | €13,098 | -€1,210 | -8.5% |
| Other amounts receivable | 41 | €25,000 | €95,204 | +€70,204 | +280.8% |
| Cash at bank and in hand | 54/58 | €319,569 | €267,457 | -€52,112 | -16.3% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €361,278 | €377,238 | +€15,960 | +4.4% |
| Equity | 10/15 | €347,435 | €235,213 | -€112,222 | -32.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €194,731 | €212,509 | +€17,778 | +9.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €192,871 | €210,649 | +€17,778 | +9.2% |
| Profit (loss) carried forward | 14 | €140,304 | €10,304 | -€130,000 | -92.7% |
| Amounts payable | 17/49 | €13,843 | €142,025 | +€128,182 | +926.0% |
| Amounts payable within one year | 42/48 | €12,522 | €141,524 | +€129,002 | +1030.2% |
| Trade debts | 44 | €328 | €510 | +€182 | +55.5% |
| Suppliers | 440/4 | €328 | €510 | +€182 | +55.5% |
| Taxes, remuneration and social security | 45 | €12,194 | €30,514 | +€18,320 | +150.2% |
| Taxes | 450/3 | €12,194 | €30,514 | +€18,320 | +150.2% |
| Other amounts payable | 47/48 | €0 | €110,500 | +€110,500 | |
| Accrued charges and deferred income | 492/3 | €1,321 | €501 | -€820 | -62.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,242 | €923 | -€319 | -25.7% |
| Other operating charges | 640/8 | €566 | €579 | +€13 | +2.3% |
| Gross operating margin | 9900 | €35,469 | €25,410 | -€10,059 | -28.4% |
| Operating profit (loss) | 9901 | €33,661 | €23,908 | -€9,753 | -29.0% |
| Financial income | 75/76B | - | €975 | +€975 | |
| Recurring financial income | 75 | - | €975 | +€975 | |
| Financial charges | 65/66B | €472 | €476 | +€4 | +0.8% |
| Recurring financial charges | 65 | €472 | €476 | +€4 | +0.8% |
| Profit (loss) for the period before taxes | 9903 | €33,189 | €24,407 | -€8,782 | -26.5% |
| Income taxes | 67/77 | €8,962 | €6,629 | -€2,333 | -26.0% |
| Profit (loss) for the period | 9904 | €24,227 | €17,778 | -€6,449 | -26.6% |
| Profit (loss) for the period to be appropriated | 9905 | €24,227 | €17,778 | -€6,449 | -26.6% |
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 12 October 2026 via checked.be.