EMPC: what changed
EMPC
Largest movements
- Cash -€861,358
down €861,358 (-51.2%), from €1.7m to €820,470
mainly Contributions, distributions and other (-€2.2m) and Investment in fixed assets (net) (-€125,112)
- Receivables within one year -€354,723
down €354,723 (-78.6%), from €451,552 to €96,829
of which Trade receivables: -€444,723
- Current investments +€100,813
up €100,813 (+5.0%), from €2.0m to €2.1m
- Tangible fixed assets +€79,253
up €79,253 (+86.1%), from €92,032 to €171,285
of which Furniture and vehicles: +€79,861
- Reserves -€1.3m
down €1.3m (-35.3%), from €3.7m to €2.4m
of which Distributable reserves: -€1.3m
- Other debts +€662,081
new in 2025: €662,081
- Profit (loss) carried forward -€263,654
down €263,654 (-100%), from €263,654 to €0
- Tax, wage and social debts -€108,482
down €108,482 (-58.2%), from €186,492 to €78,010
of which Taxes: -€108,548
- Gross operating margin -€722,663
down €722,663 (-52.4%), from €1.4m to €656,763
- Taxes -€309,098
down €309,098 (-59.5%), from €519,772 to €210,673
- Financial income -€44,581
down €44,581 (-15.5%), from €287,177 to €242,597
of which Non-recurring financial income: -€240,409
- Depreciation +€21,300
up €21,300 (+86.7%), from €24,559 to €45,859
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 | €4,245,663 | €3,222,607 | -€1.0m | -24.1% |
| Fixed assets | 21/28 | €92,167 | €171,420 | +€79,253 | +86.0% |
| Tangible fixed assets | 22/27 | €92,032 | €171,285 | +€79,253 | +86.1% |
| Plant, machinery and equipment | 23 | €2,474 | €1,866 | -€608 | -24.6% |
| Furniture and vehicles | 24 | €80,368 | €160,229 | +€79,861 | +99.4% |
| Other tangible fixed assets | 26 | €9,190 | €9,190 | = | 0.0% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €4,153,496 | €3,051,188 | -€1.1m | -26.5% |
| Amounts receivable within one year | 40/41 | €451,552 | €96,829 | -€354,723 | -78.6% |
| Trade receivables | 40 | €451,552 | €6,829 | -€444,723 | -98.5% |
| Other amounts receivable | 41 | - | €90,000 | +€90,000 | |
| Current investments | 50/53 | €2,011,424 | €2,112,237 | +€100,813 | +5.0% |
| Cash at bank and in hand | 54/58 | €1,681,827 | €820,470 | -€861,358 | -51.2% |
| Deferred charges and accrued income | 490/1 | €8,693 | €21,652 | +€12,960 | +149% |
| Total equity and liabilities | 10/49 | €4,245,663 | €3,222,607 | -€1.0m | -24.1% |
| Equity | 10/15 | €3,996,099 | €2,420,102 | -€1.6m | -39.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €3,720,045 | €2,407,702 | -€1.3m | -35.3% |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €3,720,045 | €2,407,702 | -€1.3m | -35.3% |
| Profit (loss) carried forward | 14 | €263,654 | €0 | -€263,654 | -100% |
| Provisions and deferred taxes | 16 | €16,255 | €9,348 | -€6,908 | -42.5% |
| Provisions for liabilities and charges | 160/5 | €16,255 | €9,348 | -€6,908 | -42.5% |
| Other liabilities and charges | 164/5 | €16,255 | €9,348 | -€6,908 | -42.5% |
| Amounts payable | 17/49 | €233,309 | €793,157 | +€559,849 | +240% |
| Amounts payable after more than one year | 17 | €43,761 | €52,425 | +€8,664 | +19.8% |
| Other amounts payable | 178/9 | €43,761 | €52,425 | +€8,664 | +19.8% |
| Amounts payable within one year | 42/48 | €189,169 | €740,732 | +€551,564 | +292% |
| Trade debts | 44 | €2,677 | €642 | -€2,036 | -76.0% |
| Suppliers | 440/4 | €2,677 | €642 | -€2,036 | -76.0% |
| Taxes, remuneration and social security | 45 | €186,492 | €78,010 | -€108,482 | -58.2% |
| Taxes | 450/3 | €176,889 | €68,342 | -€108,548 | -61.4% |
| Remuneration and social security | 454/9 | €9,602 | €9,668 | +€66 | +0.7% |
| Other amounts payable | 47/48 | - | €662,081 | +€662,081 | |
| Accrued charges and deferred income | 492/3 | €378 | €0 | -€378 | -100% |
| Non-recurring operating income | 76A | - | €10,000 | +€10,000 | |
| Remuneration, social security and pensions | 62 | €62,210 | €63,490 | +€1,280 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,559 | €45,859 | +€21,300 | +86.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €6,233 | -€6,908 | -€13,140 | |
| Other operating charges | 640/8 | €3,450 | €3,678 | +€229 | +6.6% |
| Gross operating margin | 9900 | €1,379,425 | €656,763 | -€722,663 | -52.4% |
| Operating profit (loss) | 9901 | €1,282,974 | €550,643 | -€732,331 | -57.1% |
| Financial income | 75/76B | €287,177 | €242,597 | -€44,581 | -15.5% |
| Recurring financial income | 75 | €46,769 | €242,597 | +€195,828 | +419% |
| Non-recurring financial income | 76B | €240,409 | €0 | -€240,409 | -100% |
| Financial charges | 65/66B | €5,234 | €5,405 | +€171 | +3.3% |
| Recurring financial charges | 65 | €5,234 | €5,405 | +€171 | +3.3% |
| Profit (loss) for the period before taxes | 9903 | €1,564,916 | €787,834 | -€777,082 | -49.7% |
| Income taxes | 67/77 | €519,772 | €210,673 | -€309,098 | -59.5% |
| Profit (loss) for the period | 9904 | €1,045,145 | €577,161 | -€467,984 | -44.8% |
| Transfer from tax-exempt reserves | 789 | €294,700 | €0 | -€294,700 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €1,339,845 | €577,161 | -€762,684 | -56.9% |
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 2 November 2026 via checked.be.