Emtho: 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.
Emtho
Largest movements
- Cash +€174,773
up €174,773 (+102.9%), from €169,891 to €344,664
mainly Net result for the year (+€182,329) and Other debts (+€22,658)
- Reserves +€180,663
up €180,663 (+22.4%), from €807,977 to €988,641
- Debts after one year -€50,000
down €50,000 (-33.3%), from €150,000 to €100,000
- Other debts +€22,658
up €22,658 (+13.2%), from €171,932 to €194,590
- Tax, wage and social debts +€16,243
up €16,243 (+58.5%), from €27,747 to €43,989
of which Taxes: +€16,243
- Gross operating margin +€174,371
up €174,371 (+161.8%), from €107,782 to €282,153
- Taxes +€54,913
up €54,913 (+213.5%), from €25,716 to €80,629
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,216,558 | €1,385,986 | +€169,429 | +13.9% |
| Fixed assets | 21/28 | €1,024,006 | €1,018,305 | -€5,701 | -0.6% |
| Tangible fixed assets | 22/27 | €24,006 | €18,305 | -€5,701 | -23.7% |
| Furniture and vehicles | 24 | €24,006 | €18,305 | -€5,701 | -23.7% |
| Financial fixed assets | 28 | €1,000,000 | €1,000,000 | = | 0.0% |
| Current assets | 29/58 | €192,552 | €367,681 | +€175,129 | +91.0% |
| Amounts receivable within one year | 40/41 | €17,182 | €17,182 | = | 0.0% |
| Trade receivables | 40 | €17,182 | €17,182 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €169,891 | €344,664 | +€174,773 | +102.9% |
| Deferred charges and accrued income | 490/1 | €5,479 | €5,835 | +€356 | +6.5% |
| Total equity and liabilities | 10/49 | €1,216,558 | €1,385,986 | +€169,429 | +13.9% |
| Equity | 10/15 | €814,177 | €994,841 | +€180,663 | +22.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €807,977 | €988,641 | +€180,663 | +22.4% |
| Distributable reserves | 133 | €807,977 | €988,641 | +€180,663 | +22.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €402,381 | €391,146 | -€11,235 | -2.8% |
| Amounts payable after more than one year | 17 | €150,000 | €100,000 | -€50,000 | -33.3% |
| Financial debts | 170/4 | €150,000 | €100,000 | -€50,000 | -33.3% |
| Amounts payable within one year | 42/48 | €252,381 | €291,146 | +€38,765 | +15.4% |
| Current portion of amounts payable after more than one year | 42 | €50,000 | €50,000 | = | 0.0% |
| Trade debts | 44 | €2,702 | €2,566 | -€135 | -5.0% |
| Suppliers | 440/4 | €2,702 | €2,566 | -€135 | -5.0% |
| Taxes, remuneration and social security | 45 | €27,747 | €43,989 | +€16,243 | +58.5% |
| Taxes | 450/3 | €22,310 | €38,552 | +€16,243 | +72.8% |
| Remuneration and social security | 454/9 | €5,437 | €5,437 | = | 0.0% |
| Other amounts payable | 47/48 | €171,932 | €194,590 | +€22,658 | +13.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,491 | €5,701 | -€1,790 | -23.9% |
| Other operating charges | 640/8 | €1,664 | €1,363 | -€301 | -18.1% |
| Gross operating margin | 9900 | €107,782 | €282,153 | +€174,371 | +161.8% |
| Operating profit (loss) | 9901 | €98,627 | €275,089 | +€176,462 | +178.9% |
| Financial income | 75/76B | €58 | €0 | -€58 | -100.0% |
| Recurring financial income | 75 | €58 | €0 | -€58 | -100.0% |
| Financial charges | 65/66B | €12,294 | €12,131 | -€163 | -1.3% |
| Recurring financial charges | 65 | €12,294 | €12,131 | -€163 | -1.3% |
| Profit (loss) for the period before taxes | 9903 | €86,391 | €262,959 | +€176,567 | +204.4% |
| Income taxes | 67/77 | €25,716 | €80,629 | +€54,913 | +213.5% |
| Profit (loss) for the period | 9904 | €60,676 | €182,329 | +€121,654 | +200.5% |
| Profit (loss) for the period to be appropriated | 9905 | €60,676 | €182,329 | +€121,654 | +200.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2025 and 30 June 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.