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.
EMT
Largest movements
- Current investments +€300,000
new in 2025: €300,000
- Receivables within one year -€238,435
down €238,435 (-34.7%), from €687,624 to €449,190
of which Trade receivables: -€208,006
- Cash -€110,469
down €110,469 (-40.6%), from €272,033 to €161,564
mainly Current investments (-€300,000) and Trade debts (-€120,043)
- Tangible fixed assets -€58,204
down €58,204 (-17.1%), from €339,493 to €281,289
- Trade debts -€120,043
down €120,043 (-45.2%), from €265,499 to €145,456
- Reserves +€84,631
up €84,631 (+11.5%), from €735,710 to €820,340
- Debts after one year -€45,540
down €45,540 (-14.4%), from €315,960 to €270,419
- Tax, wage and social debts -€16,988
down €16,988 (-49.5%), from €34,311 to €17,322
of which Remuneration and social security: -€16,951
- Staff costs +€6,195
up €6,195 (+2.2%), from €286,292 to €292,487
- Gross operating margin -€5,602
down €5,602 (-1.1%), from €490,715 to €485,114
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 | €1,538,500 | €1,430,451 | -€108,049 | -7.0% |
| Fixed assets | 21/28 | €339,493 | €281,289 | -€58,204 | -17.1% |
| Tangible fixed assets | 22/27 | €339,493 | €281,289 | -€58,204 | -17.1% |
| Land and buildings | 22 | €237,087 | €210,797 | -€26,290 | -11.1% |
| Plant, machinery and equipment | 23 | €11,637 | €8,286 | -€3,350 | -28.8% |
| Furniture and vehicles | 24 | €90,770 | €62,205 | -€28,564 | -31.5% |
| Current assets | 29/58 | €1,199,007 | €1,149,162 | -€49,844 | -4.2% |
| Stocks and contracts in progress | 3 | €220,157 | €220,682 | +€525 | +0.2% |
| Stocks | 30/36 | €220,157 | €220,682 | +€525 | +0.2% |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €687,624 | €449,190 | -€238,435 | -34.7% |
| Trade receivables | 40 | €435,928 | €227,922 | -€208,006 | -47.7% |
| Other amounts receivable | 41 | €251,697 | €221,268 | -€30,429 | -12.1% |
| Current investments | 50/53 | - | €300,000 | +€300,000 | |
| Cash at bank and in hand | 54/58 | €272,033 | €161,564 | -€110,469 | -40.6% |
| Deferred charges and accrued income | 490/1 | €19,193 | €17,726 | -€1,466 | -7.6% |
| Total equity and liabilities | 10/49 | €1,538,500 | €1,430,451 | -€108,049 | -7.0% |
| Equity | 10/15 | €835,710 | €920,340 | +€84,631 | +10.1% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €735,710 | €820,340 | +€84,631 | +11.5% |
| Distributable reserves | 133 | €735,710 | €820,340 | +€84,631 | +11.5% |
| Amounts payable | 17/49 | €702,790 | €510,111 | -€192,679 | -27.4% |
| Amounts payable after more than one year | 17 | €315,960 | €270,419 | -€45,540 | -14.4% |
| Financial debts | 170/4 | €315,960 | €270,419 | -€45,540 | -14.4% |
| Amounts payable within one year | 42/48 | €386,831 | €239,692 | -€147,139 | -38.0% |
| Current portion of amounts payable after more than one year | 42 | €44,498 | €45,540 | +€1,043 | +2.3% |
| Trade debts | 44 | €265,499 | €145,456 | -€120,043 | -45.2% |
| Suppliers | 440/4 | €265,499 | €145,456 | -€120,043 | -45.2% |
| Advances received on contracts in progress | 46 | €40,000 | €30,300 | -€9,700 | -24.3% |
| Taxes, remuneration and social security | 45 | €34,311 | €17,322 | -€16,988 | -49.5% |
| Taxes | 450/3 | €553 | €516 | -€37 | -6.8% |
| Remuneration and social security | 454/9 | €33,757 | €16,806 | -€16,951 | -50.2% |
| Other amounts payable | 47/48 | €2,523 | €1,073 | -€1,450 | -57.5% |
| Non-recurring operating income | 76A | - | €2,200 | +€2,200 | |
| Remuneration, social security and pensions | 62 | €286,292 | €292,487 | +€6,195 | +2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,118 | €66,719 | +€2,601 | +4.1% |
| Other operating charges | 640/8 | €5,200 | €5,288 | +€88 | +1.7% |
| Gross operating margin | 9900 | €490,715 | €485,114 | -€5,602 | -1.1% |
| Operating profit (loss) | 9901 | €135,105 | €120,619 | -€14,485 | -10.7% |
| Financial income | 75/76B | €1,138 | €3,459 | +€2,321 | +204% |
| Recurring financial income | 75 | €1,138 | €3,459 | +€2,321 | +204% |
| Financial charges | 65/66B | €7,973 | €7,165 | -€809 | -10.1% |
| Recurring financial charges | 65 | €7,973 | €7,165 | -€809 | -10.1% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €128,269 | €116,914 | -€11,355 | -8.9% |
| Income taxes | 67/77 | €33,721 | €32,283 | -€1,438 | -4.3% |
| Profit (loss) for the period | 9904 | €94,548 | €84,631 | -€9,917 | -10.5% |
| Profit (loss) for the period to be appropriated | 9905 | €94,548 | €84,631 | -€9,917 | -10.5% |
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 15 October 2026 via checked.be.