EMPHASE: 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.
EMPHASE
Largest movements
- Tangible fixed assets +€5,762
up €5,762 (+10.2%), from €56,568 to €62,330
of which Other tangible fixed assets: +€19,041
- Receivables within one year +€2,339
up €2,339 (+10.8%), from €21,576 to €23,915
of which Other amounts receivable: +€2,049
- Reserves +€10,976
up €10,976 (+31.2%), from €35,200 to €46,175
- Debts after one year -€8,011
down €8,011 (-41.6%), from €19,267 to €11,256
- Trade debts +€4,489
up €4,489 (+194.6%), from €2,307 to €6,796
- Other operating charges -€26,805
down €26,805 (-97.8%), from €27,416 to €611
- Depreciation +€6,158
up €6,158 (+48.9%), from €12,598 to €18,756
- Gross operating margin +€4,972
up €4,972 (+16.0%), from €31,010 to €35,982
- Taxes +€3,739
up €3,739 (+2462.7%), from €152 to €3,891
- Financial charges -€1,872
down €1,872 (-52.0%), from €3,601 to €1,729
of which Financial charges: -€1,339
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 | €93,277 | €101,032 | +€7,755 | +8.3% |
| Fixed assets | 21/28 | €56,568 | €62,330 | +€5,762 | +10.2% |
| Tangible fixed assets | 22/27 | €56,568 | €62,330 | +€5,762 | +10.2% |
| Plant, machinery and equipment | 23 | €10,661 | €7,541 | -€3,120 | -29.3% |
| Furniture and vehicles | 24 | €44,663 | €34,503 | -€10,159 | -22.7% |
| Other tangible fixed assets | 26 | €1,245 | €20,286 | +€19,041 | +1530.0% |
| Current assets | 29/58 | €36,709 | €38,702 | +€1,993 | +5.4% |
| Amounts receivable within one year | 40/41 | €21,576 | €23,915 | +€2,339 | +10.8% |
| Trade receivables | 40 | €21,576 | €21,865 | +€290 | +1.3% |
| Other amounts receivable | 41 | - | €2,049 | +€2,049 | |
| Cash at bank and in hand | 54/58 | €14,522 | €14,218 | -€304 | -2.1% |
| Deferred charges and accrued income | 490/1 | €611 | €570 | -€42 | -6.8% |
| Total equity and liabilities | 10/49 | €93,277 | €101,032 | +€7,755 | +8.3% |
| Equity | 10/15 | €55,660 | €66,635 | +€10,976 | +19.7% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €35,200 | €46,175 | +€10,976 | +31.2% |
| Distributable reserves | 133 | €35,200 | €46,175 | +€10,976 | +31.2% |
| Amounts payable | 17/49 | €37,617 | €34,397 | -€3,221 | -8.6% |
| Amounts payable after more than one year | 17 | €19,267 | €11,256 | -€8,011 | -41.6% |
| Financial debts | 170/4 | €19,267 | €11,256 | -€8,011 | -41.6% |
| Amounts payable within one year | 42/48 | €18,351 | €23,141 | +€4,790 | +26.1% |
| Current portion of amounts payable after more than one year | 42 | €7,659 | €8,011 | +€352 | +4.6% |
| Trade debts | 44 | €2,307 | €6,796 | +€4,489 | +194.6% |
| Suppliers | 440/4 | €2,307 | €6,796 | +€4,489 | +194.6% |
| Taxes, remuneration and social security | 45 | €8,046 | €8,334 | +€288 | +3.6% |
| Taxes | 450/3 | €8,046 | €8,334 | +€288 | +3.6% |
| Other amounts payable | 47/48 | €339 | - | -€339 | |
| Non-recurring operating income | 76A | €0 | - | -€0 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,598 | €18,756 | +€6,158 | +48.9% |
| Other operating charges | 640/8 | €27,416 | €611 | -€26,805 | -97.8% |
| Non-recurring operating charges | 66A | €425 | €19 | -€405 | -95.4% |
| Gross operating margin | 9900 | €31,010 | €35,982 | +€4,972 | +16.0% |
| Operating profit (loss) | 9901 | -€9,428 | €16,596 | +€26,024 | |
| Financial charges | 65/66B | €3,601 | €1,729 | -€1,872 | -52.0% |
| Recurring financial charges | 65 | €3,069 | €1,729 | -€1,339 | -43.6% |
| Non-recurring financial charges | 66B | €532 | - | -€532 | |
| Profit (loss) for the period before taxes | 9903 | -€13,029 | €14,867 | +€27,896 | |
| Income taxes | 67/77 | €152 | €3,891 | +€3,739 | +2462.7% |
| Profit (loss) for the period | 9904 | -€13,181 | €10,976 | +€24,157 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,181 | €10,976 | +€24,157 |
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.