EMPECO: 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.
EMPECO
Largest movements
- Tangible fixed assets -€25,184
down €25,184 (-8.4%), from €298,379 to €273,195
of which Land and buildings: -€31,938
- Cash -€6,009
down €6,009 (-35.9%), from €16,746 to €10,737
mainly Debts after one year (-€29,619) and Other debts (-€21,195)
- Debts after one year -€29,619
down €29,619 (-10.9%), from €270,527 to €240,908
- Other debts -€21,195
down €21,195 (-65.7%), from €32,262 to €11,067
- Profit (loss) carried forward +€20,879
up €20,879 (+32.1%), from -€64,969 to -€44,090
- Gross operating margin +€12,561
up €12,561 (+23.7%), from €52,922 to €65,483
- Other operating charges -€3,962
down €3,962 (-49.9%), from €7,942 to €3,980
- Depreciation -€1,363
down €1,363 (-3.7%), from €36,396 to €35,033
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 | €357,129 | €325,908 | -€31,221 | -8.7% |
| Fixed assets | 21/28 | €298,446 | €273,262 | -€25,184 | -8.4% |
| Tangible fixed assets | 22/27 | €298,379 | €273,195 | -€25,184 | -8.4% |
| Land and buildings | 22 | €293,437 | €261,499 | -€31,938 | -10.9% |
| Plant, machinery and equipment | 23 | €631 | €9,544 | +€8,913 | +1412.5% |
| Furniture and vehicles | 24 | €4,311 | €2,152 | -€2,159 | -50.1% |
| Financial fixed assets | 28 | €67 | €67 | = | 0.0% |
| Current assets | 29/58 | €58,683 | €52,646 | -€6,037 | -10.3% |
| Amounts receivable within one year | 40/41 | €10,737 | €10,709 | -€28 | -0.3% |
| Trade receivables | 40 | €10,737 | €10,709 | -€28 | -0.3% |
| Cash at bank and in hand | 54/58 | €16,746 | €10,737 | -€6,009 | -35.9% |
| Deferred charges and accrued income | 490/1 | €31,200 | €31,200 | = | 0.0% |
| Total equity and liabilities | 10/49 | €357,129 | €325,908 | -€31,221 | -8.7% |
| Equity | 10/15 | €10,643 | €31,522 | +€20,879 | +196.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €69,412 | €69,412 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €67,552 | €67,552 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€64,969 | -€44,090 | +€20,879 | +32.1% |
| Amounts payable | 17/49 | €346,486 | €294,386 | -€52,100 | -15.0% |
| Amounts payable after more than one year | 17 | €270,527 | €240,908 | -€29,619 | -10.9% |
| Financial debts | 170/4 | €270,527 | €240,908 | -€29,619 | -10.9% |
| Amounts payable within one year | 42/48 | €75,959 | €53,478 | -€22,481 | -29.6% |
| Current portion of amounts payable after more than one year | 42 | €29,065 | €29,619 | +€554 | +1.9% |
| Trade debts | 44 | €7,838 | €5,257 | -€2,581 | -32.9% |
| Suppliers | 440/4 | €7,838 | €5,257 | -€2,581 | -32.9% |
| Taxes, remuneration and social security | 45 | €6,794 | €7,535 | +€741 | +10.9% |
| Taxes | 450/3 | €6,794 | €7,535 | +€741 | +10.9% |
| Other amounts payable | 47/48 | €32,262 | €11,067 | -€21,195 | -65.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,396 | €35,033 | -€1,363 | -3.7% |
| Other operating charges | 640/8 | €7,942 | €3,980 | -€3,962 | -49.9% |
| Gross operating margin | 9900 | €52,922 | €65,483 | +€12,561 | +23.7% |
| Operating profit (loss) | 9901 | €8,584 | €26,470 | +€17,886 | +208.4% |
| Financial income | 75/76B | €6 | €7 | +€1 | +16.7% |
| Recurring financial income | 75 | €6 | €7 | +€1 | +16.7% |
| Financial charges | 65/66B | €6,240 | €5,598 | -€642 | -10.3% |
| Recurring financial charges | 65 | €6,240 | €5,598 | -€642 | -10.3% |
| Profit (loss) for the period before taxes | 9903 | €2,350 | €20,879 | +€18,529 | +788.5% |
| Profit (loss) for the period | 9904 | €2,350 | €20,879 | +€18,529 | +788.5% |
| Profit (loss) for the period to be appropriated | 9905 | €2,350 | €20,879 | +€18,529 | +788.5% |
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 4 October 2026 via checked.be.