Emtwee: 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.
Emtwee
Largest movements
- Cash +€25,498
up €25,498 (+31.1%), from €82,102 to €107,600
mainly Net result for the year (+€28,413) and Tax, wage and social debts (+€214)
- Receivables within one year +€1,707
up €1,707 (+10.6%), from €16,101 to €17,808
of which Trade receivables: +€2,438
- Reserves +€28,413
up €28,413 (+35.0%), from €81,123 to €109,536
- Other debts -€1,422
no longer reported in 2025 (was €1,422)
- Gross operating margin -€2,832
down €2,832 (-6.6%), from €43,138 to €40,306
- Taxes -€578
down €578 (-5.4%), from €10,757 to €10,179
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 | €98,203 | €125,407 | +€27,204 | +27.7% |
| Current assets | 29/58 | €98,203 | €125,407 | +€27,204 | +27.7% |
| Amounts receivable within one year | 40/41 | €16,101 | €17,808 | +€1,707 | +10.6% |
| Trade receivables | 40 | €15,100 | €17,538 | +€2,438 | +16.1% |
| Other amounts receivable | 41 | €1,001 | €270 | -€731 | -73.1% |
| Cash at bank and in hand | 54/58 | €82,102 | €107,600 | +€25,498 | +31.1% |
| Total equity and liabilities | 10/49 | €98,203 | €125,407 | +€27,204 | +27.7% |
| Equity | 10/15 | €91,123 | €119,536 | +€28,413 | +31.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €81,123 | €109,536 | +€28,413 | +35.0% |
| Distributable reserves | 133 | €81,123 | €109,536 | +€28,413 | +35.0% |
| Amounts payable | 17/49 | €7,080 | €5,872 | -€1,209 | -17.1% |
| Amounts payable within one year | 42/48 | €7,080 | €5,872 | -€1,209 | -17.1% |
| Taxes, remuneration and social security | 45 | €5,658 | €5,872 | +€214 | +3.8% |
| Taxes | 450/3 | €5,658 | €5,872 | +€214 | +3.8% |
| Other amounts payable | 47/48 | €1,422 | - | -€1,422 | |
| Other operating charges | 640/8 | €300 | €425 | +€125 | +41.8% |
| Gross operating margin | 9900 | €43,138 | €40,306 | -€2,832 | -6.6% |
| Operating profit (loss) | 9901 | €42,839 | €39,881 | -€2,957 | -6.9% |
| Financial charges | 65/66B | €1,239 | €1,289 | +€50 | +4.0% |
| Recurring financial charges | 65 | €1,239 | €1,289 | +€50 | +4.0% |
| Profit (loss) for the period before taxes | 9903 | €41,599 | €38,592 | -€3,007 | -7.2% |
| Income taxes | 67/77 | €10,757 | €10,179 | -€578 | -5.4% |
| Profit (loss) for the period | 9904 | €30,842 | €28,413 | -€2,429 | -7.9% |
| Profit (loss) for the period to be appropriated | 9905 | €30,842 | €28,413 | -€2,429 | -7.9% |
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 8 October 2026 via checked.be.