EMWAY: 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.
EMWAY
Largest movements
- Tangible fixed assets +€55,267
up €55,267 (+11.5%), from €479,687 to €534,955
of which Land and buildings: +€51,393
- Deferred charges and accrued income +€28,492
up €28,492 (+954.4%), from €2,985 to €31,477
- Cash +€26,423
up €26,423 (+78.4%), from €33,691 to €60,114
mainly Net result for the year (+€78,472) and Other debts (+€62,678)
- Formation expenses +€20,814
new in 2025: €20,814
- Receivables within one year +€14,663
up €14,663 (+189.8%), from €7,724 to €22,387
of which Trade receivables: +€10,519
- Other debts +€62,678
up €62,678 (+67.8%), from €92,393 to €155,071
- Reserves +€49,571
up €49,571 (+56.3%), from €88,054 to €137,625
of which Tax-exempt reserves: +€49,571
- Debts after one year -€41,000
down €41,000 (-18.3%), from €223,867 to €182,867
- Trade debts +€35,263
up €35,263 (+329.0%), from €10,718 to €45,981
- Tax, wage and social debts +€25,474
up €25,474 (+9714.2%), from €262 to €25,737
- Gross operating margin +€43,399
up €43,399 (+35.5%), from €122,349 to €165,748
- Taxes +€23,225
up €23,225 (+226.3%), from €10,262 to €33,487
- Depreciation +€5,178
up €5,178 (+12.3%), from €41,993 to €47,171
- Financial charges +€2,439
up €2,439 (+213.0%), from €1,145 to €3,583
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 | €524,087 | €669,747 | +€145,660 | +27.8% |
| Formation expenses | 20 | - | €20,814 | +€20,814 | |
| Fixed assets | 21/28 | €479,687 | €534,955 | +€55,267 | +11.5% |
| Tangible fixed assets | 22/27 | €479,687 | €534,955 | +€55,267 | +11.5% |
| Land and buildings | 22 | €370,114 | €421,507 | +€51,393 | +13.9% |
| Plant, machinery and equipment | 23 | €107,089 | €112,233 | +€5,144 | +4.8% |
| Furniture and vehicles | 24 | €2,485 | €1,215 | -€1,270 | -51.1% |
| Current assets | 29/58 | €44,400 | €113,978 | +€69,578 | +156.7% |
| Amounts receivable within one year | 40/41 | €7,724 | €22,387 | +€14,663 | +189.8% |
| Trade receivables | 40 | €5,515 | €16,034 | +€10,519 | +190.7% |
| Other amounts receivable | 41 | €2,209 | €6,353 | +€4,144 | +187.6% |
| Cash at bank and in hand | 54/58 | €33,691 | €60,114 | +€26,423 | +78.4% |
| Deferred charges and accrued income | 490/1 | €2,985 | €31,477 | +€28,492 | +954.4% |
| Total equity and liabilities | 10/49 | €524,087 | €669,747 | +€145,660 | +27.8% |
| Equity | 10/15 | €148,299 | €218,603 | +€70,304 | +47.4% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €88,054 | €137,625 | +€49,571 | +56.3% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Tax-exempt reserves | 132 | €62,173 | €111,745 | +€49,571 | +79.7% |
| Distributable reserves | 133 | €24,025 | €24,025 | = | 0.0% |
| Profit (loss) carried forward | 14 | €41,695 | €62,428 | +€20,733 | +49.7% |
| Provisions and deferred taxes | 16 | €10,391 | €9,182 | -€1,210 | -11.6% |
| Deferred taxes | 168 | €10,391 | €9,182 | -€1,210 | -11.6% |
| Amounts payable | 17/49 | €365,397 | €441,963 | +€76,565 | +21.0% |
| Amounts payable after more than one year | 17 | €223,867 | €182,867 | -€41,000 | -18.3% |
| Financial debts | 170/4 | €223,867 | €182,867 | -€41,000 | -18.3% |
| Amounts payable within one year | 42/48 | €141,531 | €257,789 | +€116,258 | +82.1% |
| Current portion of amounts payable after more than one year | 42 | €31,000 | €31,000 | = | 0.0% |
| Trade debts | 44 | €10,718 | €45,981 | +€35,263 | +329.0% |
| Suppliers | 440/4 | €10,718 | €45,981 | +€35,263 | +329.0% |
| Advances received on contracts in progress | 46 | €7,158 | €0 | -€7,158 | -100.0% |
| Taxes, remuneration and social security | 45 | €262 | €25,737 | +€25,474 | +9714.2% |
| Taxes | 450/3 | €262 | €25,737 | +€25,474 | +9714.2% |
| Other amounts payable | 47/48 | €92,393 | €155,071 | +€62,678 | +67.8% |
| Accrued charges and deferred income | 492/3 | - | €1,307 | +€1,307 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,993 | €47,171 | +€5,178 | +12.3% |
| Other operating charges | 640/8 | €5,299 | €4,888 | -€411 | -7.8% |
| Gross operating margin | 9900 | €122,349 | €165,748 | +€43,399 | +35.5% |
| Operating profit (loss) | 9901 | €75,057 | €113,689 | +€38,632 | +51.5% |
| Financial income | 75/76B | €347 | €644 | +€297 | +85.7% |
| Recurring financial income | 75 | €347 | €644 | +€297 | +85.7% |
| Financial charges | 65/66B | €1,145 | €3,583 | +€2,439 | +213.0% |
| Recurring financial charges | 65 | €1,145 | €3,583 | +€2,439 | +213.0% |
| Profit (loss) for the period before taxes | 9903 | €74,259 | €110,750 | +€36,491 | +49.1% |
| Transfer from deferred taxes | 780 | €225 | €1,210 | +€984 | +437.0% |
| Income taxes | 67/77 | €10,262 | €33,487 | +€23,225 | +226.3% |
| Profit (loss) for the period | 9904 | €64,222 | €78,472 | +€14,250 | +22.2% |
| Transfer from tax-exempt reserves | 789 | €676 | €3,629 | +€2,953 | +437.0% |
| Transfer to tax-exempt reserves | 689 | €31,000 | €55,654 | +€24,654 | +79.5% |
| Profit (loss) for the period to be appropriated | 9905 | €33,898 | €26,447 | -€7,451 | -22.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.