EMRIN CYCLES: 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.
EMRIN CYCLES
Largest movements
- Cash +€197,135
up €197,135 (+76.4%), from €257,890 to €455,025
mainly Other debts (+€595,864) and Net result for the year (+€200,880)
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Tangible fixed assets -€71,828
down €71,828 (-4.5%), from €1.6m to €1.5m
of which Land and buildings: -€70,987
- Stocks and contracts +€62,009
up €62,009 (+6.1%), from €1.0m to €1.1m
- Receivables within one year -€60,054
down €60,054 (-23.1%), from €259,596 to €199,542
of which Trade receivables: -€109,105
- Other debts +€595,864
up €595,864 (+49548.0%), from €1,203 to €597,067
- Reserves -€435,805
down €435,805 (-34.2%), from €1.3m to €836,744
of which Distributable reserves: -€435,805
- Advances received -€94,017
down €94,017 (-69.0%), from €136,188 to €42,171
- Debts after one year -€72,089
down €72,089 (-5.3%), from €1.4m to €1.3m
- Tax, wage and social debts +€53,451
up €53,451 (+111.2%), from €48,063 to €101,514
of which Taxes: +€52,888
- Gross operating margin +€59,007
up €59,007 (+8.0%), from €741,052 to €800,059
- Other operating charges +€24,066
up €24,066 (+2673.5%), from €900 to €24,966
- Taxes +€14,630
up €14,630 (+17.9%), from €81,827 to €96,457
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 | €3,225,795 | €3,251,276 | +€25,481 | +0.8% |
| Fixed assets | 21/28 | €1,581,931 | €1,510,201 | -€71,729 | -4.5% |
| Tangible fixed assets | 22/27 | €1,581,467 | €1,509,639 | -€71,828 | -4.5% |
| Land and buildings | 22 | €1,563,405 | €1,492,419 | -€70,987 | -4.5% |
| Plant, machinery and equipment | 23 | €15,336 | €10,515 | -€4,820 | -31.4% |
| Furniture and vehicles | 24 | €2,726 | €6,705 | +€3,979 | +146.0% |
| Financial fixed assets | 28 | €464 | €563 | +€99 | +21.3% |
| Current assets | 29/58 | €1,643,864 | €1,741,075 | +€97,211 | +5.9% |
| Stocks and contracts in progress | 3 | €1,024,498 | €1,086,507 | +€62,009 | +6.1% |
| Stocks | 30/36 | €1,024,498 | €1,086,507 | +€62,009 | +6.1% |
| Amounts receivable within one year | 40/41 | €259,596 | €199,542 | -€60,054 | -23.1% |
| Trade receivables | 40 | €191,578 | €82,473 | -€109,105 | -57.0% |
| Other amounts receivable | 41 | €68,018 | €117,069 | +€49,051 | +72.1% |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €257,890 | €455,025 | +€197,135 | +76.4% |
| Deferred charges and accrued income | 490/1 | €1,880 | - | -€1,880 | |
| Total equity and liabilities | 10/49 | €3,225,795 | €3,251,276 | +€25,481 | +0.8% |
| Equity | 10/15 | €1,278,749 | €842,944 | -€435,805 | -34.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,272,549 | €836,744 | -€435,805 | -34.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,270,689 | €834,884 | -€435,805 | -34.3% |
| Amounts payable | 17/49 | €1,947,046 | €2,408,332 | +€461,286 | +23.7% |
| Amounts payable after more than one year | 17 | €1,371,710 | €1,299,620 | -€72,089 | -5.3% |
| Financial debts | 170/4 | €1,371,710 | €1,299,620 | -€72,089 | -5.3% |
| Amounts payable within one year | 42/48 | €575,336 | €1,108,711 | +€533,375 | +92.7% |
| Current portion of amounts payable after more than one year | 42 | €70,650 | €72,089 | +€1,440 | +2.0% |
| Financial debts | 43 | €35,800 | - | -€35,800 | |
| Other loans | 439 | €35,800 | - | -€35,800 | |
| Trade debts | 44 | €283,433 | €295,871 | +€12,438 | +4.4% |
| Suppliers | 440/4 | €274,030 | €291,599 | +€17,570 | +6.4% |
| Bills of exchange payable | 441 | €9,403 | €4,271 | -€5,132 | -54.6% |
| Advances received on contracts in progress | 46 | €136,188 | €42,171 | -€94,017 | -69.0% |
| Taxes, remuneration and social security | 45 | €48,063 | €101,514 | +€53,451 | +111.2% |
| Taxes | 450/3 | €35,540 | €88,428 | +€52,888 | +148.8% |
| Remuneration and social security | 454/9 | €12,522 | €13,085 | +€563 | +4.5% |
| Other amounts payable | 47/48 | €1,203 | €597,067 | +€595,864 | +49548.0% |
| Non-recurring operating income | 76A | €7 | €15,633 | +€15,626 | +211730.1% |
| Remuneration, social security and pensions | 62 | €369,162 | €370,333 | +€1,171 | +0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €87,701 | €88,785 | +€1,084 | +1.2% |
| Other operating charges | 640/8 | €900 | €24,966 | +€24,066 | +2673.5% |
| Non-recurring operating charges | 66A | €1,906 | €257 | -€1,649 | -86.5% |
| Gross operating margin | 9900 | €741,052 | €800,059 | +€59,007 | +8.0% |
| Operating profit (loss) | 9901 | €281,383 | €315,718 | +€34,335 | +12.2% |
| Financial income | 75/76B | €8,962 | €11,524 | +€2,562 | +28.6% |
| Recurring financial income | 75 | €8,962 | €10,524 | +€1,562 | +17.4% |
| Non-recurring financial income | 76B | - | €1,000 | +€1,000 | |
| Financial charges | 65/66B | €32,119 | €29,906 | -€2,214 | -6.9% |
| Recurring financial charges | 65 | €32,104 | €29,902 | -€2,202 | -6.9% |
| Non-recurring financial charges | 66B | €16 | €4 | -€12 | -74.9% |
| Profit (loss) for the period before taxes | 9903 | €258,226 | €297,337 | +€39,111 | +15.1% |
| Income taxes | 67/77 | €81,827 | €96,457 | +€14,630 | +17.9% |
| Profit (loss) for the period | 9904 | €176,399 | €200,880 | +€24,481 | +13.9% |
| Profit (loss) for the period to be appropriated | 9905 | €176,399 | €200,880 | +€24,481 | +13.9% |
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 11 October 2026 via checked.be.