EMSCO: 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.
EMSCO
Largest movements
- Receivables within one year +€242,663
new in 2025: €242,663
- Tangible fixed assets -€25,138
no longer reported in 2025 (was €25,138)
of which Land and buildings: -€22,646
- Reserves +€209,536
new in 2025: €209,536
- Debts after one year +€7,157
up €7,157 (+14.9%), from €48,149 to €55,306
- Gross operating margin +€293,683
up €293,683, from -€5,898 to €287,784
- Taxes +€76,341
new in 2025: €76,341
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 | €26,144 | €243,810 | +€217,666 | +832.6% |
| Fixed assets | 21/28 | €25,138 | - | -€25,138 | |
| Tangible fixed assets | 22/27 | €25,138 | - | -€25,138 | |
| Land and buildings | 22 | €22,646 | - | -€22,646 | |
| Plant, machinery and equipment | 23 | €2,492 | - | -€2,492 | |
| Current assets | 29/58 | €1,005 | €243,810 | +€242,805 | +24158.0% |
| Amounts receivable within one year | 40/41 | - | €242,663 | +€242,663 | |
| Trade receivables | 40 | - | €242,663 | +€242,663 | |
| Cash at bank and in hand | 54/58 | €696 | €819 | +€123 | +17.7% |
| Deferred charges and accrued income | 490/1 | €310 | €328 | +€18 | +5.9% |
| Total equity and liabilities | 10/49 | €26,144 | €243,810 | +€217,666 | +832.6% |
| Equity | 10/15 | -€23,856 | €185,681 | +€209,536 | |
| Contributions | 10/11 | €58,600 | €58,600 | = | 0.0% |
| Reserves | 13 | - | €209,536 | +€209,536 | |
| Distributable reserves | 133 | - | €209,536 | +€209,536 | |
| Profit (loss) carried forward | 14 | -€82,456 | -€82,456 | = | 0.0% |
| Amounts payable | 17/49 | €49,999 | €58,129 | +€8,130 | +16.3% |
| Amounts payable after more than one year | 17 | €48,149 | €55,306 | +€7,157 | +14.9% |
| Other amounts payable | 178/9 | €48,149 | €55,306 | +€7,157 | +14.9% |
| Amounts payable within one year | 42/48 | €1,850 | €2,823 | +€973 | +52.6% |
| Trade debts | 44 | €1,850 | €1,482 | -€368 | -19.9% |
| Suppliers | 440/4 | €1,850 | €1,482 | -€368 | -19.9% |
| Taxes, remuneration and social security | 45 | - | €1,341 | +€1,341 | |
| Taxes | 450/3 | - | €1,341 | +€1,341 | |
| Non-recurring operating income | 76A | - | €294,862 | +€294,862 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,378 | - | -€1,378 | |
| Other operating charges | 640/8 | €2,653 | €1,836 | -€817 | -30.8% |
| Gross operating margin | 9900 | -€5,898 | €287,784 | +€293,683 | |
| Operating profit (loss) | 9901 | -€9,929 | €285,949 | +€295,878 | |
| Financial charges | 65/66B | €72 | €72 | -€0 | -0.2% |
| Recurring financial charges | 65 | €72 | €72 | -€0 | -0.2% |
| Profit (loss) for the period before taxes | 9903 | -€10,001 | €285,877 | +€295,878 | |
| Income taxes | 67/77 | - | €76,341 | +€76,341 | |
| Profit (loss) for the period | 9904 | -€10,001 | €209,536 | +€219,537 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,001 | €209,536 | +€219,537 |
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 3 October 2026 via checked.be.