EMRA PROJECTS: 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.
EMRA PROJECTS
Largest movements
- Cash +€15,793
up €15,793 (+64.4%), from €24,516 to €40,310
mainly Other debts (+€23,529) and Depreciation (+€23,038)
- Tangible fixed assets +€13,636
up €13,636 (+6.0%), from €228,348 to €241,984
of which Plant, machinery and equipment: +€12,371
- Receivables within one year -€6,375
down €6,375 (-6.9%), from €93,013 to €86,638
of which Trade receivables: -€26,405
- Other debts +€23,529
up €23,529, from €0 to €23,529
- Trade debts +€16,348
up €16,348 (+24.4%), from €67,039 to €83,387
- Debts after one year -€9,698
down €9,698 (-8.1%), from €119,959 to €110,260
of which Financial debts: -€9,698
- Reserves -€8,816
down €8,816 (-8.9%), from €99,160 to €90,345
- Financial charges +€12,038
up €12,038 (+230%), from €5,227 to €17,266
- Other operating charges +€11,624
up €11,624 (+119%), from €9,773 to €21,397
- Gross operating margin +€10,672
up €10,672 (+13.7%), from €78,143 to €88,815
- Depreciation +€7,521
up €7,521 (+48.5%), from €15,517 to €23,038
- Taxes -€2,566
down €2,566 (-20.3%), from €12,628 to €10,062
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.
Derived cash bridge
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 | €350,042 | €374,335 | +€24,292 | +6.9% |
| Fixed assets | 21/28 | €228,348 | €241,984 | +€13,636 | +6.0% |
| Tangible fixed assets | 22/27 | €228,348 | €241,984 | +€13,636 | +6.0% |
| Land and buildings | 22 | €189,302 | €186,291 | -€3,012 | -1.6% |
| Plant, machinery and equipment | 23 | €26,672 | €39,043 | +€12,371 | +46.4% |
| Furniture and vehicles | 24 | €12,374 | €16,650 | +€4,277 | +34.6% |
| Current assets | 29/58 | €121,694 | €132,351 | +€10,657 | +8.8% |
| Stocks and contracts in progress | 3 | €2,602 | €2,602 | = | 0.0% |
| Stocks | 30/36 | €2,602 | €2,602 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €93,013 | €86,638 | -€6,375 | -6.9% |
| Trade receivables | 40 | €56,139 | €29,734 | -€26,405 | -47.0% |
| Other amounts receivable | 41 | €36,875 | €56,904 | +€20,030 | +54.3% |
| Cash at bank and in hand | 54/58 | €24,516 | €40,310 | +€15,793 | +64.4% |
| Deferred charges and accrued income | 490/1 | €1,563 | €2,802 | +€1,239 | +79.3% |
| Total equity and liabilities | 10/49 | €350,042 | €374,335 | +€24,292 | +6.9% |
| Equity | 10/15 | €117,760 | €108,945 | -€8,816 | -7.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €99,160 | €90,345 | -€8,816 | -8.9% |
| Distributable reserves | 133 | €99,160 | €90,345 | -€8,816 | -8.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €232,282 | €265,390 | +€33,108 | +14.3% |
| Amounts payable after more than one year | 17 | €119,959 | €110,260 | -€9,698 | -8.1% |
| Financial debts | 170/4 | €118,434 | €108,735 | -€9,698 | -8.2% |
| Other amounts payable | 178/9 | €1,525 | €1,525 | = | 0.0% |
| Amounts payable within one year | 42/48 | €112,323 | €155,129 | +€42,806 | +38.1% |
| Current portion of amounts payable after more than one year | 42 | €12,073 | €12,382 | +€308 | +2.6% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €67,039 | €83,387 | +€16,348 | +24.4% |
| Suppliers | 440/4 | €67,039 | €83,387 | +€16,348 | +24.4% |
| Taxes, remuneration and social security | 45 | €33,210 | €35,831 | +€2,621 | +7.9% |
| Taxes | 450/3 | €33,210 | €35,831 | +€2,621 | +7.9% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | €23,529 | +€23,529 | |
| Non-recurring operating income | 76A | - | €7,000 | +€7,000 | |
| Remuneration, social security and pensions | 62 | - | €2,426 | +€2,426 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,517 | €23,038 | +€7,521 | +48.5% |
| Other operating charges | 640/8 | €9,773 | €21,397 | +€11,624 | +119% |
| Gross operating margin | 9900 | €78,143 | €88,815 | +€10,672 | +13.7% |
| Operating profit (loss) | 9901 | €52,853 | €41,954 | -€10,899 | -20.6% |
| Financial income | 75/76B | €1,026 | €88 | -€938 | -91.5% |
| Recurring financial income | 75 | €1,026 | €88 | -€938 | -91.5% |
| Financial charges | 65/66B | €5,227 | €17,266 | +€12,038 | +230% |
| Recurring financial charges | 65 | €5,227 | €17,266 | +€12,038 | +230% |
| Profit (loss) for the period before taxes | 9903 | €48,652 | €24,776 | -€23,876 | -49.1% |
| Income taxes | 67/77 | €12,628 | €10,062 | -€2,566 | -20.3% |
| Profit (loss) for the period | 9904 | €36,024 | €14,714 | -€21,310 | -59.2% |
| Profit (loss) for the period to be appropriated | 9905 | €36,024 | €14,714 | -€21,310 | -59.2% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.