EMS: 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.
EMS
Largest movements
- Deferred charges and accrued income -€95,672
down €95,672 (-97.9%), from €97,712 to €2,041
- Receivables within one year -€40,129
down €40,129 (-69.1%), from €58,075 to €17,946
of which Trade receivables: -€24,363
- Cash +€2,173
up €2,173 (+74.6%), from €2,913 to €5,086
mainly Deferred charges and accrued income (+€95,672) and Receivables within one year (+€40,129)
- Advances received -€103,241
down €103,241 (-85.6%), from €120,623 to €17,382
- Accrued charges and deferred income -€17,129
down €17,129 (-99.6%), from €17,194 to €66
- Profit (loss) carried forward -€14,761
down €14,761, from €1,259 to -€13,503
- Trade debts +€5,205
up €5,205 (+117.5%), from €4,431 to €9,635
- Tax, wage and social debts -€4,432
down €4,432 (-100.0%), from €4,432 to €0
- Gross operating margin -€27,969
down €27,969, from €14,002 to -€13,966
- Taxes -€4,432
down €4,432 (-100.0%), from €4,432 to €0
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 | €164,789 | €30,430 | -€134,358 | -81.5% |
| Fixed assets | 21/28 | €6,088 | €5,358 | -€730 | -12.0% |
| Tangible fixed assets | 22/27 | €853 | €573 | -€280 | -32.9% |
| Plant, machinery and equipment | 23 | €853 | €573 | -€280 | -32.9% |
| Financial fixed assets | 28 | €5,235 | €4,785 | -€450 | -8.6% |
| Current assets | 29/58 | €158,700 | €25,073 | -€133,628 | -84.2% |
| Amounts receivable within one year | 40/41 | €58,075 | €17,946 | -€40,129 | -69.1% |
| Trade receivables | 40 | €28,612 | €4,248 | -€24,363 | -85.2% |
| Other amounts receivable | 41 | €29,463 | €13,697 | -€15,766 | -53.5% |
| Cash at bank and in hand | 54/58 | €2,913 | €5,086 | +€2,173 | +74.6% |
| Deferred charges and accrued income | 490/1 | €97,712 | €2,041 | -€95,672 | -97.9% |
| Total equity and liabilities | 10/49 | €164,789 | €30,430 | -€134,358 | -81.5% |
| Equity | 10/15 | €18,109 | €3,347 | -€14,761 | -81.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €13,850 | €13,850 | = | 0.0% |
| Distributable reserves | 133 | €13,850 | €13,850 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,259 | -€13,503 | -€14,761 | |
| Amounts payable | 17/49 | €146,680 | €27,083 | -€119,597 | -81.5% |
| Amounts payable within one year | 42/48 | €129,486 | €27,017 | -€102,468 | -79.1% |
| Trade debts | 44 | €4,431 | €9,635 | +€5,205 | +117.5% |
| Suppliers | 440/4 | €4,431 | €9,635 | +€5,205 | +117.5% |
| Advances received on contracts in progress | 46 | €120,623 | €17,382 | -€103,241 | -85.6% |
| Taxes, remuneration and social security | 45 | €4,432 | €0 | -€4,432 | -100.0% |
| Taxes | 450/3 | €4,432 | €0 | -€4,432 | -100.0% |
| Accrued charges and deferred income | 492/3 | €17,194 | €66 | -€17,129 | -99.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €280 | €280 | = | 0.0% |
| Other operating charges | 640/8 | €601 | €465 | -€136 | -22.7% |
| Gross operating margin | 9900 | €14,002 | -€13,966 | -€27,969 | |
| Operating profit (loss) | 9901 | €13,120 | -€14,712 | -€27,832 | |
| Financial income | 75/76B | €48 | €60 | +€12 | +26.1% |
| Recurring financial income | 75 | €48 | €60 | +€12 | +26.1% |
| Financial charges | 65/66B | €79 | €110 | +€30 | +38.4% |
| Recurring financial charges | 65 | €79 | €110 | +€30 | +38.4% |
| Profit (loss) for the period before taxes | 9903 | €13,089 | -€14,761 | -€27,850 | |
| Income taxes | 67/77 | €4,432 | €0 | -€4,432 | -100.0% |
| Profit (loss) for the period | 9904 | €8,657 | -€14,761 | -€23,419 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,657 | -€14,761 | -€23,419 |
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 4 October 2026 via checked.be.