EMRECO: 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.
EMRECO
Largest movements
- Cash -€81,493
down €81,493 (-38.8%), from €210,256 to €128,763
mainly Contributions, distributions and other (-€650,000) and Tax, wage and social debts (-€130,604)
- Current investments +€50,000
up €50,000 (+10.4%), from €481,787 to €531,787
- Other debts +€535,859
up €535,859 (+1758.7%), from €30,468 to €566,328
- Profit (loss) carried forward -€431,333
down €431,333 (-83.0%), from €519,931 to €88,598
- Tax, wage and social debts -€130,604
down €130,604 (-93.6%), from €139,488 to €8,884
- Trade debts -€12,746
down €12,746 (-39.8%), from €32,016 to €19,270
- Gross operating margin -€468,292
down €468,292 (-61.6%), from €760,024 to €291,732
- Taxes -€120,208
down €120,208 (-61.5%), from €195,425 to €75,217
- Financial income -€16,171
down €16,171 (-67.0%), from €24,136 to €7,965
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 | €746,903 | €709,532 | -€37,371 | -5.0% |
| Fixed assets | 21/28 | €8,059 | €6,000 | -€2,059 | -25.6% |
| Tangible fixed assets | 22/27 | €8,059 | €6,000 | -€2,059 | -25.6% |
| Furniture and vehicles | 24 | €8,059 | €6,000 | -€2,059 | -25.6% |
| Current assets | 29/58 | €738,844 | €703,532 | -€35,312 | -4.8% |
| Amounts receivable within one year | 40/41 | €46,801 | €42,982 | -€3,819 | -8.2% |
| Trade receivables | 40 | €28,568 | €26,166 | -€2,402 | -8.4% |
| Other amounts receivable | 41 | €18,232 | €16,816 | -€1,417 | -7.8% |
| Current investments | 50/53 | €481,787 | €531,787 | +€50,000 | +10.4% |
| Cash at bank and in hand | 54/58 | €210,256 | €128,763 | -€81,493 | -38.8% |
| Deferred charges and accrued income | 490/1 | €0 | €0 | = | 0.0% |
| Total equity and liabilities | 10/49 | €746,903 | €709,532 | -€37,371 | -5.0% |
| Equity | 10/15 | €544,931 | €113,598 | -€431,333 | -79.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Capital | 10 | €20,000 | €20,000 | = | 0.0% |
| Issued capital | 100 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €5,000 | €5,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,000 | €5,000 | = | 0.0% |
| Legal reserve | 130 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €519,931 | €88,598 | -€431,333 | -83.0% |
| Amounts payable | 17/49 | €201,972 | €595,934 | +€393,962 | +195.1% |
| Amounts payable within one year | 42/48 | €201,972 | €594,482 | +€392,509 | +194.3% |
| Trade debts | 44 | €32,016 | €19,270 | -€12,746 | -39.8% |
| Suppliers | 440/4 | €32,016 | €19,270 | -€12,746 | -39.8% |
| Taxes, remuneration and social security | 45 | €139,488 | €8,884 | -€130,604 | -93.6% |
| Taxes | 450/3 | €139,488 | €8,884 | -€130,604 | -93.6% |
| Other amounts payable | 47/48 | €30,468 | €566,328 | +€535,859 | +1758.7% |
| Accrued charges and deferred income | 492/3 | - | €1,452 | +€1,452 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,591 | €2,059 | -€532 | -20.5% |
| Other operating charges | 640/8 | €189 | €1,303 | +€1,114 | +589.2% |
| Gross operating margin | 9900 | €760,024 | €291,732 | -€468,292 | -61.6% |
| Operating profit (loss) | 9901 | €757,244 | €288,369 | -€468,874 | -61.9% |
| Financial income | 75/76B | €24,136 | €7,965 | -€16,171 | -67.0% |
| Recurring financial income | 75 | €24,136 | €7,965 | -€16,171 | -67.0% |
| Financial charges | 65/66B | €1,353 | €2,451 | +€1,097 | +81.1% |
| Recurring financial charges | 65 | €1,353 | €2,451 | +€1,097 | +81.1% |
| Profit (loss) for the period before taxes | 9903 | €780,026 | €293,884 | -€486,142 | -62.3% |
| Income taxes | 67/77 | €195,425 | €75,217 | -€120,208 | -61.5% |
| Profit (loss) for the period | 9904 | €584,601 | €218,667 | -€365,934 | -62.6% |
| Profit (loss) for the period to be appropriated | 9905 | €584,601 | €218,667 | -€365,934 | -62.6% |
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 6 October 2026 via checked.be.