EmViKo: 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.
EmViKo
Largest movements
- Current investments -€37,783
down €37,783 (-42.7%), from €88,574 to €50,790
- Cash -€15,479
down €15,479 (-25.5%), from €60,655 to €45,177
mainly Contributions, distributions and other (-€90,000) and Investment in fixed assets (net) (-€8,306)
- Receivables within one year -€14,269
down €14,269 (-39.5%), from €36,089 to €21,820
of which Other amounts receivable: -€13,529
- Tangible fixed assets +€5,837
up €5,837 (+237%), from €2,458 to €8,294
- Deferred charges and accrued income -€2,019
down €2,019 (-47.9%), from €4,220 to €2,200
- Reserves -€55,526
down €55,526 (-48.8%), from €113,874 to €58,348
- Tax, wage and social debts -€7,601
down €7,601 (-76.6%), from €9,921 to €2,320
of which Taxes: -€7,641
- Gross operating margin -€22,097
down €22,097 (-31.8%), from €69,488 to €47,391
- Taxes -€5,876
down €5,876 (-37.4%), from €15,730 to €9,854
- Depreciation +€1,738
up €1,738 (+238%), from €731 to €2,469
- Financial income -€1,409
down €1,409 (-48.9%), from €2,882 to €1,473
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.
Derived cash bridge
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 | €191,996 | €128,282 | -€63,714 | -33.2% |
| Fixed assets | 21/28 | €2,458 | €8,294 | +€5,837 | +237% |
| Tangible fixed assets | 22/27 | €2,458 | €8,294 | +€5,837 | +237% |
| Furniture and vehicles | 24 | €2,458 | €8,294 | +€5,837 | +237% |
| Current assets | 29/58 | €189,538 | €119,987 | -€69,551 | -36.7% |
| Amounts receivable within one year | 40/41 | €36,089 | €21,820 | -€14,269 | -39.5% |
| Trade receivables | 40 | €14,370 | €13,630 | -€740 | -5.1% |
| Other amounts receivable | 41 | €21,720 | €8,191 | -€13,529 | -62.3% |
| Current investments | 50/53 | €88,574 | €50,790 | -€37,783 | -42.7% |
| Cash at bank and in hand | 54/58 | €60,655 | €45,177 | -€15,479 | -25.5% |
| Deferred charges and accrued income | 490/1 | €4,220 | €2,200 | -€2,019 | -47.9% |
| Total equity and liabilities | 10/49 | €191,996 | €128,282 | -€63,714 | -33.2% |
| Equity | 10/15 | €132,474 | €76,948 | -€55,526 | -41.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €113,874 | €58,348 | -€55,526 | -48.8% |
| Distributable reserves | 133 | €113,874 | €58,348 | -€55,526 | -48.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €59,522 | €51,333 | -€8,188 | -13.8% |
| Amounts payable within one year | 42/48 | €59,522 | €51,333 | -€8,188 | -13.8% |
| Trade debts | 44 | €3,101 | €3,086 | -€15 | -0.5% |
| Suppliers | 440/4 | €3,101 | €3,086 | -€15 | -0.5% |
| Taxes, remuneration and social security | 45 | €9,921 | €2,320 | -€7,601 | -76.6% |
| Taxes | 450/3 | €7,641 | €0 | -€7,641 | -100% |
| Remuneration and social security | 454/9 | €2,279 | €2,320 | +€41 | +1.8% |
| Other amounts payable | 47/48 | €46,500 | €45,927 | -€573 | -1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €731 | €2,469 | +€1,738 | +238% |
| Other operating charges | 640/8 | €1,185 | €1,387 | +€202 | +17.0% |
| Non-recurring operating charges | 66A | - | €369 | +€369 | |
| Gross operating margin | 9900 | €69,488 | €47,391 | -€22,097 | -31.8% |
| Operating profit (loss) | 9901 | €67,572 | €43,166 | -€24,407 | -36.1% |
| Financial income | 75/76B | €2,882 | €1,473 | -€1,409 | -48.9% |
| Recurring financial income | 75 | €2,882 | €1,473 | -€1,409 | -48.9% |
| Financial charges | 65/66B | €54 | €311 | +€256 | +471% |
| Recurring financial charges | 65 | €54 | €311 | +€256 | +471% |
| Profit (loss) for the period before taxes | 9903 | €70,400 | €44,328 | -€26,072 | -37.0% |
| Income taxes | 67/77 | €15,730 | €9,854 | -€5,876 | -37.4% |
| Profit (loss) for the period | 9904 | €54,670 | €34,474 | -€20,195 | -36.9% |
| Profit (loss) for the period to be appropriated | 9905 | €54,670 | €34,474 | -€20,195 | -36.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.