Emsee: 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.
Emsee
Largest movements
- Cash -€120,711
down €120,711 (-64.6%), from €186,943 to €66,232
mainly Receivables within one year (-€79,257) and Debts after one year (-€44,132)
- Receivables within one year +€79,257
up €79,257 (+23.1%), from €343,070 to €422,327
of which Trade receivables: +€94,279
- Tangible fixed assets -€60,695
down €60,695 (-34.4%), from €176,483 to €115,788
of which Leasing and similar rights: -€62,518
- Deferred charges and accrued income +€7,630
up €7,630 (+65.1%), from €11,717 to €19,347
- Debts after one year -€44,132
down €44,132 (-46.0%), from €96,001 to €51,869
- Other debts -€34,348
down €34,348 (-79.0%), from €43,499 to €9,151
- Tax, wage and social debts -€18,538
down €18,538 (-19.2%), from €96,654 to €78,116
of which Remuneration and social security: -€11,585
- Current portion of long-term debt -€18,130
down €18,130 (-22.9%), from €79,254 to €61,124
- Reserves +€18,029
up €18,029 (+4.7%), from €385,321 to €403,350
- Staff costs +€127,561
up €127,561 (+18.9%), from €674,207 to €801,768
- Gross operating margin -€89,319
down €89,319 (-9.0%), from €996,851 to €907,531
- Taxes -€64,156
down €64,156 (-85.6%), from €74,906 to €10,750
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 | €718,213 | €624,194 | -€94,019 | -13.1% |
| Fixed assets | 21/28 | €176,483 | €116,288 | -€60,195 | -34.1% |
| Tangible fixed assets | 22/27 | €176,483 | €115,788 | -€60,695 | -34.4% |
| Plant, machinery and equipment | 23 | €549 | €16 | -€533 | -97.1% |
| Furniture and vehicles | 24 | €9,555 | €6,667 | -€2,888 | -30.2% |
| Leasing and similar rights | 25 | €153,724 | €91,206 | -€62,518 | -40.7% |
| Other tangible fixed assets | 26 | €12,655 | €17,899 | +€5,244 | +41.4% |
| Financial fixed assets | 28 | - | €500 | +€500 | |
| Current assets | 29/58 | €541,730 | €507,906 | -€33,824 | -6.2% |
| Amounts receivable within one year | 40/41 | €343,070 | €422,327 | +€79,257 | +23.1% |
| Trade receivables | 40 | €141,570 | €235,849 | +€94,279 | +66.6% |
| Other amounts receivable | 41 | €201,500 | €186,478 | -€15,022 | -7.5% |
| Cash at bank and in hand | 54/58 | €186,943 | €66,232 | -€120,711 | -64.6% |
| Deferred charges and accrued income | 490/1 | €11,717 | €19,347 | +€7,630 | +65.1% |
| Total equity and liabilities | 10/49 | €718,213 | €624,194 | -€94,019 | -13.1% |
| Equity | 10/15 | €390,321 | €408,350 | +€18,029 | +4.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €385,321 | €403,350 | +€18,029 | +4.7% |
| Distributable reserves | 133 | €385,321 | €403,350 | +€18,029 | +4.7% |
| Amounts payable | 17/49 | €327,892 | €215,844 | -€112,048 | -34.2% |
| Amounts payable after more than one year | 17 | €96,001 | €51,869 | -€44,132 | -46.0% |
| Financial debts | 170/4 | €96,001 | €51,869 | -€44,132 | -46.0% |
| Amounts payable within one year | 42/48 | €231,891 | €152,399 | -€79,492 | -34.3% |
| Current portion of amounts payable after more than one year | 42 | €79,254 | €61,124 | -€18,130 | -22.9% |
| Trade debts | 44 | €12,485 | €4,009 | -€8,476 | -67.9% |
| Suppliers | 440/4 | €12,485 | €4,009 | -€8,476 | -67.9% |
| Taxes, remuneration and social security | 45 | €96,654 | €78,116 | -€18,538 | -19.2% |
| Taxes | 450/3 | €33,639 | €26,686 | -€6,953 | -20.7% |
| Remuneration and social security | 454/9 | €63,015 | €51,430 | -€11,585 | -18.4% |
| Other amounts payable | 47/48 | €43,499 | €9,151 | -€34,348 | -79.0% |
| Accrued charges and deferred income | 492/3 | - | €11,576 | +€11,576 | |
| Non-recurring operating income | 76A | €2,749 | €0 | -€2,749 | -100% |
| Remuneration, social security and pensions | 62 | €674,207 | €801,768 | +€127,561 | +18.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,128 | €69,874 | +€1,746 | +2.6% |
| Other operating charges | 640/8 | €2,675 | €3,645 | +€970 | +36.3% |
| Gross operating margin | 9900 | €996,851 | €907,531 | -€89,319 | -9.0% |
| Operating profit (loss) | 9901 | €251,840 | €32,244 | -€219,597 | -87.2% |
| Financial income | 75/76B | €3,892 | €5,143 | +€1,250 | +32.1% |
| Recurring financial income | 75 | €3,892 | €5,143 | +€1,250 | +32.1% |
| Financial charges | 65/66B | €9,147 | €8,607 | -€540 | -5.9% |
| Recurring financial charges | 65 | €9,147 | €8,607 | -€540 | -5.9% |
| Profit (loss) for the period before taxes | 9903 | €246,586 | €28,779 | -€217,807 | -88.3% |
| Income taxes | 67/77 | €74,906 | €10,750 | -€64,156 | -85.6% |
| Profit (loss) for the period | 9904 | €171,679 | €18,029 | -€153,651 | -89.5% |
| Profit (loss) for the period to be appropriated | 9905 | €171,679 | €18,029 | -€153,651 | -89.5% |
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 16 October 2026 via checked.be.