EMVECO: 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.
EMVECO
Largest movements
- Receivables after one year -€100,000
down €100,000 (-50.0%), from €200,000 to €100,000
- Current investments +€35,000
up €35,000 (+53.9%), from €64,890 to €99,890
- Cash +€27,007
up €27,007 (+289.5%), from €9,329 to €36,336
mainly Net result for the year (+€280,914) and Receivables after one year (+€100,000)
- Tangible fixed assets -€14,416
down €14,416 (-79.3%), from €18,185 to €3,769
of which Furniture and vehicles: -€14,416
- Receivables within one year +€6,903
up €6,903 (+20.7%), from €33,284 to €40,187
of which Other amounts receivable: +€5,895
- Reserves -€57,086
down €57,086 (-16.9%), from €338,295 to €281,209
- Tax, wage and social debts +€11,896
up €11,896 (+201.8%), from €5,894 to €17,790
of which Taxes: +€11,896
- Gross operating margin -€64,921
down €64,921 (-14.5%), from €446,941 to €382,020
- Taxes -€18,117
down €18,117 (-16.9%), from €107,030 to €88,913
- Financial income -€6,762
down €6,762 (-65.2%), from €10,376 to €3,613
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 | €354,496 | €312,176 | -€42,320 | -11.9% |
| Fixed assets | 21/28 | €23,185 | €8,769 | -€14,416 | -62.2% |
| Tangible fixed assets | 22/27 | €18,185 | €3,769 | -€14,416 | -79.3% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €18,185 | €3,769 | -€14,416 | -79.3% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €331,311 | €303,406 | -€27,905 | -8.4% |
| Amounts receivable after more than one year | 29 | €200,000 | €100,000 | -€100,000 | -50.0% |
| Other amounts receivable | 291 | €200,000 | €100,000 | -€100,000 | -50.0% |
| Amounts receivable within one year | 40/41 | €33,284 | €40,187 | +€6,903 | +20.7% |
| Trade receivables | 40 | €33,275 | €34,283 | +€1,008 | +3.0% |
| Other amounts receivable | 41 | €9 | €5,904 | +€5,895 | +66013.3% |
| Current investments | 50/53 | €64,890 | €99,890 | +€35,000 | +53.9% |
| Cash at bank and in hand | 54/58 | €9,329 | €36,336 | +€27,007 | +289.5% |
| Deferred charges and accrued income | 490/1 | €23,809 | €26,993 | +€3,185 | +13.4% |
| Total equity and liabilities | 10/49 | €354,496 | €312,176 | -€42,320 | -11.9% |
| Equity | 10/15 | €341,295 | €284,209 | -€57,086 | -16.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €338,295 | €281,209 | -€57,086 | -16.9% |
| Distributable reserves | 133 | €338,295 | €281,209 | -€57,086 | -16.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €13,201 | €27,967 | +€14,766 | +111.9% |
| Amounts payable within one year | 42/48 | €13,201 | €27,967 | +€14,766 | +111.9% |
| Trade debts | 44 | €322 | €2,745 | +€2,423 | +753.3% |
| Suppliers | 440/4 | €322 | €2,745 | +€2,423 | +753.3% |
| Taxes, remuneration and social security | 45 | €5,894 | €17,790 | +€11,896 | +201.8% |
| Taxes | 450/3 | €5,894 | €17,790 | +€11,896 | +201.8% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €6,985 | €7,431 | +€447 | +6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,010 | €14,416 | -€594 | -4.0% |
| Other operating charges | 640/8 | €758 | €781 | +€23 | +3.1% |
| Gross operating margin | 9900 | €446,941 | €382,020 | -€64,921 | -14.5% |
| Operating profit (loss) | 9901 | €431,173 | €366,823 | -€64,350 | -14.9% |
| Financial income | 75/76B | €10,376 | €3,613 | -€6,762 | -65.2% |
| Recurring financial income | 75 | €10,376 | €3,613 | -€6,762 | -65.2% |
| Financial charges | 65/66B | €620 | €609 | -€10 | -1.7% |
| Recurring financial charges | 65 | €620 | €609 | -€10 | -1.7% |
| Profit (loss) for the period before taxes | 9903 | €440,929 | €369,827 | -€71,102 | -16.1% |
| Income taxes | 67/77 | €107,030 | €88,913 | -€18,117 | -16.9% |
| Profit (loss) for the period | 9904 | €333,899 | €280,914 | -€52,985 | -15.9% |
| Profit (loss) for the period to be appropriated | 9905 | €333,899 | €280,914 | -€52,985 | -15.9% |
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 4 October 2026 via checked.be.