EMVS: 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.
EMVS
Largest movements
- Tangible fixed assets +€42,306
up €42,306 (+317.6%), from €13,320 to €55,626
- Cash -€15,818
down €15,818 (-49.2%), from €32,124 to €16,307
mainly Investment in fixed assets (net) (-€58,893) and Receivables within one year (-€8,440)
- Receivables within one year +€8,440
new in 2025: €8,440
- Deferred charges and accrued income -€7,447
down €7,447 (-87.9%), from €8,476 to €1,028
- Debts after one year +€13,214
new in 2025: €13,214
- Reserves +€11,155
up €11,155 (+27.0%), from €41,352 to €52,507
- Current portion of long-term debt +€4,824
new in 2025: €4,824
- Tax, wage and social debts -€2,791
down €2,791 (-36.2%), from €7,709 to €4,917
of which Taxes: -€2,791
- Other debts +€1,234
up €1,234 (+137.6%), from €897 to €2,131
- Gross operating margin +€7,285
up €7,285 (+29.6%), from €24,649 to €31,934
- Depreciation +€5,634
up €5,634 (+51.4%), from €10,953 to €16,587
- Financial charges +€494
up €494 (+570.1%), from €87 to €581
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 | €53,920 | €81,402 | +€27,482 | +51.0% |
| Fixed assets | 21/28 | €13,320 | €55,626 | +€42,306 | +317.6% |
| Tangible fixed assets | 22/27 | €13,320 | €55,626 | +€42,306 | +317.6% |
| Furniture and vehicles | 24 | €13,320 | €55,626 | +€42,306 | +317.6% |
| Current assets | 29/58 | €40,600 | €25,776 | -€14,824 | -36.5% |
| Amounts receivable within one year | 40/41 | - | €8,440 | +€8,440 | |
| Trade receivables | 40 | - | €8,440 | +€8,440 | |
| Cash at bank and in hand | 54/58 | €32,124 | €16,307 | -€15,818 | -49.2% |
| Deferred charges and accrued income | 490/1 | €8,476 | €1,028 | -€7,447 | -87.9% |
| Total equity and liabilities | 10/49 | €53,920 | €81,402 | +€27,482 | +51.0% |
| Equity | 10/15 | €44,352 | €55,507 | +€11,155 | +25.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €41,352 | €52,507 | +€11,155 | +27.0% |
| Distributable reserves | 133 | €41,352 | €52,507 | +€11,155 | +27.0% |
| Amounts payable | 17/49 | €9,567 | €25,894 | +€16,327 | +170.7% |
| Amounts payable after more than one year | 17 | - | €13,214 | +€13,214 | |
| Financial debts | 170/4 | - | €13,214 | +€13,214 | |
| Amounts payable within one year | 42/48 | €9,567 | €12,681 | +€3,113 | +32.5% |
| Current portion of amounts payable after more than one year | 42 | - | €4,824 | +€4,824 | |
| Financial debts | 43 | €558 | €51 | -€507 | -90.8% |
| Credit institutions | 430/8 | €558 | €51 | -€507 | -90.8% |
| Trade debts | 44 | €404 | €757 | +€353 | +87.5% |
| Suppliers | 440/4 | €404 | €757 | +€353 | +87.5% |
| Taxes, remuneration and social security | 45 | €7,709 | €4,917 | -€2,791 | -36.2% |
| Taxes | 450/3 | €5,559 | €2,767 | -€2,791 | -50.2% |
| Remuneration and social security | 454/9 | €2,150 | €2,150 | = | 0.0% |
| Other amounts payable | 47/48 | €897 | €2,131 | +€1,234 | +137.6% |
| Non-recurring operating income | 76A | - | €11,890 | +€11,890 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,953 | €16,587 | +€5,634 | +51.4% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €24,649 | €31,934 | +€7,285 | +29.6% |
| Operating profit (loss) | 9901 | €13,191 | €14,827 | +€1,636 | +12.4% |
| Financial charges | 65/66B | €87 | €581 | +€494 | +570.1% |
| Recurring financial charges | 65 | €87 | €581 | +€494 | +570.1% |
| Profit (loss) for the period before taxes | 9903 | €13,104 | €14,246 | +€1,142 | +8.7% |
| Income taxes | 67/77 | €2,859 | €3,091 | +€233 | +8.1% |
| Profit (loss) for the period | 9904 | €10,245 | €11,155 | +€910 | +8.9% |
| Profit (loss) for the period to be appropriated | 9905 | €10,245 | €11,155 | +€910 | +8.9% |
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 28 September 2026 via checked.be.