Empire Estate: what changed
Empire Estate
Largest movements
- Receivables within one year +€94,897
up €94,897 (+227%), from €41,836 to €136,733
of which Trade receivables: +€94,965
- Tangible fixed assets -€21,021
down €21,021 (-15.8%), from €132,687 to €111,666
of which Other tangible fixed assets: -€12,191
- Cash +€5,691
up €5,691 (+10.3%), from €55,210 to €60,901
mainly Net result for the year (+€58,038) and Trade debts (+€38,101)
- Deferred charges and accrued income -€3,757
down €3,757 (-58.0%), from €6,477 to €2,720
- Profit (loss) carried forward +€56,038
up €56,038 (+58.0%), from €96,601 to €152,639
- Trade debts +€38,101
up €38,101 (+158%), from €24,063 to €62,164
- Debts after one year -€19,190
no longer reported in 2025 (was €19,190)
- Tax, wage and social debts +€18,620
up €18,620 (+37.1%), from €50,179 to €68,799
of which Taxes: +€17,428
- Other debts -€9,436
down €9,436 (-47.4%), from €19,887 to €10,451
- Gross operating margin +€97,563
up €97,563 (+52.8%), from €184,766 to €282,329
- Staff costs +€53,065
up €53,065 (+43.7%), from €121,372 to €174,437
- Taxes +€10,158
up €10,158 (+136%), from €7,443 to €17,601
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 | €236,467 | €313,743 | +€77,276 | +32.7% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €132,944 | €113,389 | -€19,555 | -14.7% |
| Intangible fixed assets | 21 | €258 | €1,723 | +€1,466 | +569% |
| Tangible fixed assets | 22/27 | €132,687 | €111,666 | -€21,021 | -15.8% |
| Plant, machinery and equipment | 23 | €726 | €3,205 | +€2,479 | +341% |
| Furniture and vehicles | 24 | €49,014 | €37,705 | -€11,309 | -23.1% |
| Other tangible fixed assets | 26 | €82,947 | €70,756 | -€12,191 | -14.7% |
| Current assets | 29/58 | €103,523 | €200,354 | +€96,831 | +93.5% |
| Amounts receivable within one year | 40/41 | €41,836 | €136,733 | +€94,897 | +227% |
| Trade receivables | 40 | €36,360 | €131,326 | +€94,965 | +261% |
| Other amounts receivable | 41 | €5,475 | €5,407 | -€68 | -1.2% |
| Cash at bank and in hand | 54/58 | €55,210 | €60,901 | +€5,691 | +10.3% |
| Deferred charges and accrued income | 490/1 | €6,477 | €2,720 | -€3,757 | -58.0% |
| Total equity and liabilities | 10/49 | €236,467 | €313,743 | +€77,276 | +32.7% |
| Equity | 10/15 | €97,101 | €153,139 | +€56,038 | +57.7% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €96,601 | €152,639 | +€56,038 | +58.0% |
| Amounts payable | 17/49 | €139,366 | €160,604 | +€21,237 | +15.2% |
| Amounts payable after more than one year | 17 | €19,190 | - | -€19,190 | |
| Financial debts | 170/4 | €19,190 | - | -€19,190 | |
| Amounts payable within one year | 42/48 | €120,176 | €160,604 | +€40,428 | +33.6% |
| Current portion of amounts payable after more than one year | 42 | €26,047 | €19,190 | -€6,857 | -26.3% |
| Trade debts | 44 | €24,063 | €62,164 | +€38,101 | +158% |
| Suppliers | 440/4 | €24,063 | €62,164 | +€38,101 | +158% |
| Taxes, remuneration and social security | 45 | €50,179 | €68,799 | +€18,620 | +37.1% |
| Taxes | 450/3 | €7,285 | €24,712 | +€17,428 | +239% |
| Remuneration and social security | 454/9 | €42,894 | €44,087 | +€1,193 | +2.8% |
| Other amounts payable | 47/48 | €19,887 | €10,451 | -€9,436 | -47.4% |
| Remuneration, social security and pensions | 62 | €121,372 | €174,437 | +€53,065 | +43.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,514 | €25,428 | +€914 | +3.7% |
| Other operating charges | 640/8 | €3,292 | €4,426 | +€1,135 | +34.5% |
| Gross operating margin | 9900 | €184,766 | €282,329 | +€97,563 | +52.8% |
| Operating profit (loss) | 9901 | €35,588 | €78,037 | +€42,449 | +119% |
| Financial income | 75/76B | €61 | €311 | +€250 | +413% |
| Recurring financial income | 75 | €61 | €311 | +€250 | +413% |
| Financial charges | 65/66B | €3,414 | €2,709 | -€705 | -20.7% |
| Recurring financial charges | 65 | €3,414 | €2,709 | -€705 | -20.7% |
| Profit (loss) for the period before taxes | 9903 | €32,235 | €75,640 | +€43,405 | +135% |
| Income taxes | 67/77 | €7,443 | €17,601 | +€10,158 | +136% |
| Profit (loss) for the period | 9904 | €24,792 | €58,038 | +€33,247 | +134% |
| Profit (loss) for the period to be appropriated | 9905 | €24,792 | €58,038 | +€33,247 | +134% |
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 1 November 2026 via checked.be.