EMSA IMMO: 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.
EMSA IMMO
Largest movements
- Receivables within one year +€167,688
up €167,688 (+6,874%), from €2,439 to €170,127
of which Trade receivables: +€119,667
- Tangible fixed assets +€59,551
new in 2025: €59,551
- Cash +€27,022
new in 2025: €27,022
mainly Trade debts (+€113,023) and Net result for the year (+€106,668)
- Trade debts +€113,023
up €113,023 (+1,027%), from €11,010 to €124,033
- Profit (loss) carried forward +€106,668
up €106,668, from -€33,023 to €73,645
- Tax, wage and social debts +€36,367
up €36,367 (+1,005%), from €3,619 to €39,986
of which Taxes: +€36,558
- Gross operating margin +€143,402
up €143,402 (+696%), from €20,613 to €164,015
- Taxes +€33,900
new in 2025: €33,900
- Staff costs -€10,916
down €10,916 (-44.0%), from €24,830 to €13,914
- Depreciation +€6,449
new in 2025: €6,449
- Other operating charges +€3,513
up €3,513 (+568%), from €618 to €4,131
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 | €3,386 | €258,124 | +€254,737 | +7,523% |
| Fixed assets | 21/28 | €50 | €59,601 | +€59,551 | +119,103% |
| Tangible fixed assets | 22/27 | - | €59,551 | +€59,551 | |
| Furniture and vehicles | 24 | - | €59,551 | +€59,551 | |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €3,336 | €198,522 | +€195,186 | +5,850% |
| Amounts receivable within one year | 40/41 | €2,439 | €170,127 | +€167,688 | +6,874% |
| Trade receivables | 40 | €2,417 | €122,084 | +€119,667 | +4,951% |
| Other amounts receivable | 41 | €22 | €48,043 | +€48,021 | +213,711% |
| Cash at bank and in hand | 54/58 | - | €27,022 | +€27,022 | |
| Deferred charges and accrued income | 490/1 | €897 | €1,373 | +€476 | +53.1% |
| Total equity and liabilities | 10/49 | €3,386 | €258,124 | +€254,737 | +7,523% |
| Equity | 10/15 | -€12,563 | €94,105 | +€106,668 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€33,023 | €73,645 | +€106,668 | |
| Amounts payable | 17/49 | €15,949 | €164,019 | +€148,069 | +928% |
| Amounts payable within one year | 42/48 | €15,949 | €164,019 | +€148,069 | +928% |
| Financial debts | 43 | €57 | - | -€57 | |
| Credit institutions | 430/8 | €57 | - | -€57 | |
| Trade debts | 44 | €11,010 | €124,033 | +€113,023 | +1,027% |
| Suppliers | 440/4 | €11,010 | €124,033 | +€113,023 | +1,027% |
| Taxes, remuneration and social security | 45 | €3,619 | €39,986 | +€36,367 | +1,005% |
| Taxes | 450/3 | €492 | €37,050 | +€36,558 | +7,432% |
| Remuneration and social security | 454/9 | €3,127 | €2,936 | -€191 | -6.1% |
| Other amounts payable | 47/48 | €1,264 | - | -€1,264 | |
| Remuneration, social security and pensions | 62 | €24,830 | €13,914 | -€10,916 | -44.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €6,449 | +€6,449 | |
| Other operating charges | 640/8 | €618 | €4,131 | +€3,513 | +568% |
| Gross operating margin | 9900 | €20,613 | €164,015 | +€143,402 | +696% |
| Operating profit (loss) | 9901 | -€4,835 | €139,521 | +€144,356 | |
| Financial income | 75/76B | - | €1,373 | +€1,373 | |
| Recurring financial income | 75 | - | €1,373 | +€1,373 | |
| Financial charges | 65/66B | €473 | €326 | -€148 | -31.2% |
| Recurring financial charges | 65 | €473 | €326 | -€148 | -31.2% |
| Profit (loss) for the period before taxes | 9903 | -€5,309 | €140,568 | +€145,876 | |
| Income taxes | 67/77 | - | €33,900 | +€33,900 | |
| Profit (loss) for the period | 9904 | -€5,309 | €106,668 | +€111,977 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,309 | €106,668 | +€111,977 |
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 15 October 2026 via checked.be.