EMST CONSULTING: 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.
EMST CONSULTING
Largest movements
- Tangible fixed assets +€1.5m
up €1.5m (+1,102%), from €137,869 to €1.7m
of which Assets under construction and advance payments: +€1.4m
- Receivables within one year +€169,664
up €169,664 (+530%), from €32,027 to €201,691
of which Trade receivables: +€168,616
- Cash -€30,245
down €30,245 (-48.4%), from €62,545 to €32,301
mainly Investment in fixed assets (net) (-€1.5m) and Receivables within one year (-€169,664)
- Debts after one year +€1.2m
up €1.2m (+714%), from €169,038 to €1.4m
of which Financial debts: +€1.2m
- Trade debts +€256,072
up €256,072 (+799%), from €32,056 to €288,128
- Other debts +€198,987
up €198,987 (+200%), from €99,684 to €298,671
- Current portion of long-term debt +€24,281
new in 2025: €24,281
- Profit (loss) carried forward -€24,012
down €24,012 (-13.4%), from -€179,694 to -€203,706
- Financial charges +€22,224
up €22,224 (+3,255%), from €683 to €22,907
- Gross operating margin -€2,301
down €2,301 (-18.9%), from -€12,191 to -€14,492
- Depreciation -€1,121
down €1,121 (-100%), from €1,121 to €0
- Other operating charges +€1,033
up €1,033 (+177%), from €583 to €1,615
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 | €421,236 | €2,083,119 | +€1.7m | +395% |
| Fixed assets | 21/28 | €137,869 | €1,657,503 | +€1.5m | +1,102% |
| Tangible fixed assets | 22/27 | €137,869 | €1,657,503 | +€1.5m | +1,102% |
| Furniture and vehicles | 24 | €0 | €93,312 | +€93,312 | |
| Assets under construction and advance payments | 27 | €137,869 | €1,564,191 | +€1.4m | +1,035% |
| Current assets | 29/58 | €283,367 | €425,616 | +€142,249 | +50.2% |
| Amounts receivable after more than one year | 29 | €187,524 | €187,524 | = | 0.0% |
| Other amounts receivable | 291 | €187,524 | €187,524 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €32,027 | €201,691 | +€169,664 | +530% |
| Trade receivables | 40 | €727 | €169,342 | +€168,616 | +23,201% |
| Other amounts receivable | 41 | €31,300 | €32,348 | +€1,048 | +3.3% |
| Cash at bank and in hand | 54/58 | €62,545 | €32,301 | -€30,245 | -48.4% |
| Deferred charges and accrued income | 490/1 | €1,271 | €4,101 | +€2,830 | +223% |
| Total equity and liabilities | 10/49 | €421,236 | €2,083,119 | +€1.7m | +395% |
| Equity | 10/15 | €120,306 | €96,294 | -€24,012 | -20.0% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€179,694 | -€203,706 | -€24,012 | -13.4% |
| Amounts payable | 17/49 | €300,930 | €1,986,825 | +€1.7m | +560% |
| Amounts payable after more than one year | 17 | €169,038 | €1,375,719 | +€1.2m | +714% |
| Financial debts | 170/4 | €69,038 | €1,275,719 | +€1.2m | +1,748% |
| Other amounts payable | 178/9 | €100,000 | €100,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €131,740 | €611,081 | +€479,341 | +364% |
| Current portion of amounts payable after more than one year | 42 | - | €24,281 | +€24,281 | |
| Trade debts | 44 | €32,056 | €288,128 | +€256,072 | +799% |
| Suppliers | 440/4 | €32,056 | €288,128 | +€256,072 | +799% |
| Other amounts payable | 47/48 | €99,684 | €298,671 | +€198,987 | +200% |
| Accrued charges and deferred income | 492/3 | €152 | €26 | -€126 | -82.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,121 | €0 | -€1,121 | -100% |
| Other operating charges | 640/8 | €583 | €1,615 | +€1,033 | +177% |
| Gross operating margin | 9900 | -€12,191 | -€14,492 | -€2,301 | -18.9% |
| Operating profit (loss) | 9901 | -€13,895 | -€16,108 | -€2,213 | -15.9% |
| Financial income | 75/76B | €15,013 | €15,002 | -€12 | -0.1% |
| Recurring financial income | 75 | €15,013 | €15,002 | -€12 | -0.1% |
| Financial charges | 65/66B | €683 | €22,907 | +€22,224 | +3,255% |
| Recurring financial charges | 65 | €683 | €22,907 | +€22,224 | +3,255% |
| Profit (loss) for the period before taxes | 9903 | €436 | -€24,012 | -€24,448 | |
| Profit (loss) for the period | 9904 | €436 | -€24,012 | -€24,448 | |
| Profit (loss) for the period to be appropriated | 9905 | €436 | -€24,012 | -€24,448 |
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 22 October 2026 via checked.be.