EMTAPIA: 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.
EMTAPIA
Largest movements
- Cash +€35,353
up €35,353 (+16.9%), from €209,552 to €244,905
mainly Other debts (+€234,500) and Net result for the year (+€82,208)
- Receivables within one year -€13,068
down €13,068 (-16.7%), from €78,408 to €65,340
of which Trade receivables: -€13,068
- Other debts +€234,500
up €234,500 (+9312.0%), from €2,518 to €237,019
- Profit (loss) carried forward -€192,792
down €192,792 (-82.6%), from €233,324 to €40,531
- Tax, wage and social debts -€19,203
down €19,203 (-59.6%), from €32,206 to €13,003
of which Taxes: -€19,203
- Gross operating margin +€8,919
up €8,919 (+9.6%), from €93,200 to €102,119
- Taxes +€2,079
up €2,079 (+10.9%), from €19,056 to €21,135
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 | €288,560 | €310,832 | +€22,272 | +7.7% |
| Formation expenses | 20 | €493 | €252 | -€241 | -48.9% |
| Fixed assets | 21/28 | €16 | €0 | -€16 | -100.0% |
| Tangible fixed assets | 22/27 | €16 | €0 | -€16 | -100.0% |
| Furniture and vehicles | 24 | €16 | €0 | -€16 | -100.0% |
| Current assets | 29/58 | €288,051 | €310,580 | +€22,529 | +7.8% |
| Amounts receivable within one year | 40/41 | €78,408 | €65,340 | -€13,068 | -16.7% |
| Trade receivables | 40 | €78,408 | €65,340 | -€13,068 | -16.7% |
| Other amounts receivable | 41 | - | €0 | = | |
| Cash at bank and in hand | 54/58 | €209,552 | €244,905 | +€35,353 | +16.9% |
| Deferred charges and accrued income | 490/1 | €91 | €335 | +€244 | +268.4% |
| Total equity and liabilities | 10/49 | €288,560 | €310,832 | +€22,272 | +7.7% |
| Equity | 10/15 | €253,324 | €60,531 | -€192,792 | -76.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €233,324 | €40,531 | -€192,792 | -82.6% |
| Amounts payable | 17/49 | €35,236 | €250,301 | +€215,065 | +610.4% |
| Amounts payable within one year | 42/48 | €35,236 | €250,301 | +€215,065 | +610.4% |
| Trade debts | 44 | €512 | €279 | -€232 | -45.4% |
| Suppliers | 440/4 | €512 | €279 | -€232 | -45.4% |
| Taxes, remuneration and social security | 45 | €32,206 | €13,003 | -€19,203 | -59.6% |
| Taxes | 450/3 | €32,206 | €13,003 | -€19,203 | -59.6% |
| Remuneration and social security | 454/9 | - | €0 | = | |
| Other amounts payable | 47/48 | €2,518 | €237,019 | +€234,500 | +9312.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €489 | €257 | -€232 | -47.5% |
| Other operating charges | 640/8 | €64 | €66 | +€2 | +3.0% |
| Gross operating margin | 9900 | €93,200 | €102,119 | +€8,919 | +9.6% |
| Operating profit (loss) | 9901 | €92,648 | €101,797 | +€9,149 | +9.9% |
| Financial income | 75/76B | €789 | €1,660 | +€871 | +110.5% |
| Recurring financial income | 75 | €789 | €1,660 | +€871 | +110.5% |
| Financial charges | 65/66B | €114 | €114 | = | 0.0% |
| Recurring financial charges | 65 | €114 | €114 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €93,322 | €103,343 | +€10,020 | +10.7% |
| Income taxes | 67/77 | €19,056 | €21,135 | +€2,079 | +10.9% |
| Profit (loss) for the period | 9904 | €74,266 | €82,208 | +€7,942 | +10.7% |
| Profit (loss) for the period to be appropriated | 9905 | €74,266 | €82,208 | +€7,942 | +10.7% |
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 5 October 2026 via checked.be.