EMVECE: 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.
EMVECE
Largest movements
- Tangible fixed assets +€62,420
up €62,420 (+13.2%), from €473,165 to €535,585
of which Land and buildings: +€63,519
- Cash -€14,495
down €14,495 (-44.5%), from €32,583 to €18,088
mainly Investment in fixed assets (net) (-€100,463) and Debts after one year (-€33,415)
- Trade debts +€41,578
up €41,578 (+115.7%), from €35,930 to €77,507
- Debts after one year -€33,415
down €33,415 (-12.2%), from €273,134 to €239,719
- Current portion of long-term debt +€18,484
up €18,484 (+62.0%), from €29,817 to €48,301
- Reserves +€14,945
up €14,945 (+9.5%), from €158,100 to €173,045
of which Distributable reserves: +€14,945
- Tax, wage and social debts +€13,713
up €13,713 (+55.7%), from €24,613 to €38,325
of which Taxes: +€13,878
- Gross operating margin +€18,015
up €18,015 (+9.6%), from €186,930 to €204,944
- Financial charges -€7,879
down €7,879 (-42.4%), from €18,573 to €10,693
- Taxes +€5,971
up €5,971 (+792.3%), from €754 to €6,725
- Staff costs +€5,458
up €5,458 (+4.3%), from €126,442 to €131,900
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €617,600 | €665,882 | +€48,281 | +7.8% |
| Fixed assets | 21/28 | €476,329 | €540,772 | +€64,443 | +13.5% |
| Tangible fixed assets | 22/27 | €473,165 | €535,585 | +€62,420 | +13.2% |
| Land and buildings | 22 | €465,183 | €528,702 | +€63,519 | +13.7% |
| Plant, machinery and equipment | 23 | €1,624 | €358 | -€1,266 | -78.0% |
| Furniture and vehicles | 24 | €6,358 | €6,525 | +€167 | +2.6% |
| Financial fixed assets | 28 | €3,163 | €5,186 | +€2,023 | +64.0% |
| Current assets | 29/58 | €141,272 | €125,110 | -€16,162 | -11.4% |
| Stocks and contracts in progress | 3 | €76,100 | €80,666 | +€4,566 | +6.0% |
| Stocks | 30/36 | €76,100 | €80,666 | +€4,566 | +6.0% |
| Amounts receivable within one year | 40/41 | €31,431 | €25,809 | -€5,622 | -17.9% |
| Trade receivables | 40 | €3,497 | €3,353 | -€144 | -4.1% |
| Other amounts receivable | 41 | €27,934 | €22,456 | -€5,478 | -19.6% |
| Cash at bank and in hand | 54/58 | €32,583 | €18,088 | -€14,495 | -44.5% |
| Deferred charges and accrued income | 490/1 | €1,158 | €547 | -€611 | -52.7% |
| Total equity and liabilities | 10/49 | €617,600 | €665,882 | +€48,281 | +7.8% |
| Equity | 10/15 | €223,759 | €238,707 | +€14,947 | +6.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €158,100 | €173,045 | +€14,945 | +9.5% |
| Non-distributable reserves | 130/1 | €2,200 | €2,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,200 | €2,200 | = | 0.0% |
| Distributable reserves | 133 | €155,900 | €170,845 | +€14,945 | +9.6% |
| Profit (loss) carried forward | 14 | €47,059 | €47,062 | +€2 | 0.0% |
| Amounts payable | 17/49 | €393,841 | €427,175 | +€33,334 | +8.5% |
| Amounts payable after more than one year | 17 | €273,134 | €239,719 | -€33,415 | -12.2% |
| Financial debts | 170/4 | €273,134 | €239,719 | -€33,415 | -12.2% |
| Amounts payable within one year | 42/48 | €120,707 | €187,456 | +€66,749 | +55.3% |
| Current portion of amounts payable after more than one year | 42 | €29,817 | €48,301 | +€18,484 | +62.0% |
| Trade debts | 44 | €35,930 | €77,507 | +€41,578 | +115.7% |
| Suppliers | 440/4 | €35,930 | €77,507 | +€41,578 | +115.7% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €24,613 | €38,325 | +€13,713 | +55.7% |
| Taxes | 450/3 | €4,230 | €18,107 | +€13,878 | +328.1% |
| Remuneration and social security | 454/9 | €20,383 | €20,218 | -€165 | -0.8% |
| Other amounts payable | 47/48 | €30,348 | €23,322 | -€7,026 | -23.2% |
| Remuneration, social security and pensions | 62 | €126,442 | €131,900 | +€5,458 | +4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,584 | €36,020 | -€565 | -1.5% |
| Other operating charges | 640/8 | €4,484 | €4,741 | +€257 | +5.7% |
| Gross operating margin | 9900 | €186,930 | €204,944 | +€18,015 | +9.6% |
| Operating profit (loss) | 9901 | €19,419 | €32,283 | +€12,864 | +66.2% |
| Financial income | 75/76B | €395 | €82 | -€313 | -79.2% |
| Recurring financial income | 75 | €395 | €82 | -€313 | -79.2% |
| Financial charges | 65/66B | €18,573 | €10,693 | -€7,879 | -42.4% |
| Recurring financial charges | 65 | €18,573 | €10,693 | -€7,879 | -42.4% |
| Profit (loss) for the period before taxes | 9903 | €1,242 | €21,672 | +€20,431 | +1645.3% |
| Income taxes | 67/77 | €754 | €6,725 | +€5,971 | +792.3% |
| Profit (loss) for the period | 9904 | €488 | €14,947 | +€14,459 | +2962.7% |
| Profit (loss) for the period to be appropriated | 9905 | €488 | €14,947 | +€14,459 | +2962.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.