EMT: 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.
What changed
EMT
NACE 49.410, Freight transport by road
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€177,521
2024 · €149,650+€27,871
Equity
€1.1m
2024 · €1.2m-€103,456
Cash
€657,893
2024 · €884,691-€226,797
Balance sheet total
€2.3m
2024 · €2.5m-€164,397
Largest movements
Assets
- Cash -€226,797
down €226,797 (-25.6%), from €884,691 to €657,893
mainly Investment in fixed assets (net) (-€426,909) and Contributions, distributions and other (-€280,977)
- Tangible fixed assets +€48,714
up €48,714 (+3.6%), from €1.3m to €1.4m
of which Leasing and similar rights: +€66,818
Equity and liabilities
- Reserves -€103,456
down €103,456 (-8.9%), from €1.2m to €1.1m
- Trade debts -€46,371
down €46,371 (-62.0%), from €74,813 to €28,441
- Debts after one year -€29,779
down €29,779 (-3.5%), from €858,070 to €828,291
Income statement
- Gross operating margin +€34,935
up €34,935 (+2.6%), from €1.3m to €1.4m
- Staff costs -€26,061
down €26,061 (-5.2%), from €497,680 to €471,620
- Depreciation +€21,214
up €21,214 (+5.9%), from €356,982 to €378,195
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.
Result 2024
€149,650
Gross operating margin
+€34,935
Staff costs
+€26,061
Depreciation
-€21,214
Write-downs
-€4,130
Other operating charges
+€594
Financial income
-€1,086
Financial charges
+€764
Taxes
-€8,053
Result 2025
€177,521
raises the resultlowers the result
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.
From operations
+€496,142
Investment
-€426,909
Financing
-€296,030
Cash 2024
€884,691
From operations (derived)
+€496,142
Net result for the year
+€177,521
Depreciation
+€378,195
Stocks and contracts
-€13,095
Receivables within one year
-€1,841
Deferred charges and accrued income
+€1,250
Trade debts
-€46,371
Tax, wage and social debts
+€4,322
Other debts
-€7,771
Accrued charges and deferred income
+€3,932
Investment (derived)
-€426,909
Investment in fixed assets (net)
-€426,909
Financing
-€296,030
Debts after one year
-€29,779
Current portion of long-term debt
+€14,908
Short-term financial debts
-€181
Contributions, distributions and other
-€280,977
Cash 2025
€657,893
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,494,044 | €2,329,646 | -€164,397 | -6.6% |
| Fixed assets | 21/28 | €1,349,990 | €1,398,703 | +€48,714 | +3.6% |
| Tangible fixed assets | 22/27 | €1,348,340 | €1,397,053 | +€48,714 | +3.6% |
| Land and buildings | 22 | €664,002 | €709,100 | +€45,098 | +6.8% |
| Plant, machinery and equipment | 23 | €52,295 | €54,262 | +€1,967 | +3.8% |
| Furniture and vehicles | 24 | €130,856 | €65,687 | -€65,169 | -49.8% |
| Leasing and similar rights | 25 | €501,187 | €568,005 | +€66,818 | +13.3% |
| Financial fixed assets | 28 | €1,650 | €1,650 | = | 0.0% |
| Current assets | 29/58 | €1,144,054 | €930,943 | -€213,111 | -18.6% |
| Stocks and contracts in progress | 3 | €11,803 | €24,898 | +€13,095 | +111% |
| Contracts in progress | 37 | €11,803 | €24,898 | +€13,095 | +111% |
| Amounts receivable within one year | 40/41 | €235,203 | €237,045 | +€1,841 | +0.8% |
| Trade receivables | 40 | €187,172 | €208,421 | +€21,249 | +11.4% |
| Other amounts receivable | 41 | €48,032 | €28,623 | -€19,408 | -40.4% |
| Cash at bank and in hand | 54/58 | €884,691 | €657,893 | -€226,797 | -25.6% |
| Deferred charges and accrued income | 490/1 | €12,357 | €11,107 | -€1,250 | -10.1% |
| Total equity and liabilities | 10/49 | €2,494,044 | €2,329,646 | -€164,397 | -6.6% |
| Equity | 10/15 | €1,181,350 | €1,077,893 | -€103,456 | -8.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,162,750 | €1,059,293 | -€103,456 | -8.9% |
| Distributable reserves | 133 | €1,162,750 | €1,059,293 | -€103,456 | -8.9% |
| Amounts payable | 17/49 | €1,312,694 | €1,251,753 | -€60,941 | -4.6% |
| Amounts payable after more than one year | 17 | €858,070 | €828,291 | -€29,779 | -3.5% |
| Financial debts | 170/4 | €858,070 | €828,291 | -€29,779 | -3.5% |
| Amounts payable within one year | 42/48 | €453,974 | €418,880 | -€35,094 | -7.7% |
| Current portion of amounts payable after more than one year | 42 | €274,510 | €289,418 | +€14,908 | +5.4% |
| Financial debts | 43 | €23,761 | €23,580 | -€181 | -0.8% |
| Credit institutions | 430/8 | €23,761 | €23,580 | -€181 | -0.8% |
| Trade debts | 44 | €74,813 | €28,441 | -€46,371 | -62.0% |
| Suppliers | 440/4 | €74,813 | €28,441 | -€46,371 | -62.0% |
| Taxes, remuneration and social security | 45 | €73,119 | €77,441 | +€4,322 | +5.9% |
| Taxes | 450/3 | €21,379 | €29,854 | +€8,475 | +39.6% |
| Remuneration and social security | 454/9 | €51,740 | €47,587 | -€4,153 | -8.0% |
| Other amounts payable | 47/48 | €7,771 | - | -€7,771 | |
| Accrued charges and deferred income | 492/3 | €650 | €4,582 | +€3,932 | +605% |
| Non-recurring operating income | 76A | €9,679 | €32,568 | +€22,889 | +236% |
| Remuneration, social security and pensions | 62 | €497,680 | €471,620 | -€26,061 | -5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €356,982 | €378,195 | +€21,214 | +5.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €4,130 | +€4,130 | |
| Other operating charges | 640/8 | €196,702 | €196,108 | -€594 | -0.3% |
| Gross operating margin | 9900 | €1,318,700 | €1,353,635 | +€34,935 | +2.6% |
| Operating profit (loss) | 9901 | €267,336 | €303,582 | +€36,246 | +13.6% |
| Financial income | 75/76B | €2,016 | €930 | -€1,086 | -53.9% |
| Recurring financial income | 75 | €2,016 | €930 | -€1,086 | -53.9% |
| Financial charges | 65/66B | €47,662 | €46,898 | -€764 | -1.6% |
| Recurring financial charges | 65 | €47,662 | €46,898 | -€764 | -1.6% |
| Profit (loss) for the period before taxes | 9903 | €221,690 | €257,613 | +€35,924 | +16.2% |
| Income taxes | 67/77 | €72,040 | €80,093 | +€8,053 | +11.2% |
| Profit (loss) for the period | 9904 | €149,650 | €177,521 | +€27,871 | +18.6% |
| Profit (loss) for the period to be appropriated | 9905 | €149,650 | €177,521 | +€27,871 | +18.6% |
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.