EMZ: 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.
EMZ
Largest movements
- Receivables within one year -€8,109
down €8,109 (-3.8%), from €214,894 to €206,785
of which Trade receivables: -€25,000
- Other debts -€42,950
down €42,950 (-47.2%), from €90,950 to €48,000
- Reserves +€30,817
up €30,817 (+14.9%), from €207,512 to €238,329
of which Distributable reserves: +€30,817
- Gross operating margin -€5,011
down €5,011 (-10.0%), from €50,098 to €45,087
- Taxes -€1,920
down €1,920 (-13.4%), from €14,353 to €12,434
- Other operating charges +€651
up €651 (+525%), from €124 to €775
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 | €348,007 | €338,238 | -€9,769 | -2.8% |
| Current assets | 29/58 | €348,007 | €338,238 | -€9,769 | -2.8% |
| Amounts receivable after more than one year | 29 | €130,303 | €130,303 | = | 0.0% |
| Other amounts receivable | 291 | €130,303 | €130,303 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €214,894 | €206,785 | -€8,109 | -3.8% |
| Trade receivables | 40 | €75,000 | €50,000 | -€25,000 | -33.3% |
| Other amounts receivable | 41 | €139,894 | €156,785 | +€16,891 | +12.1% |
| Cash at bank and in hand | 54/58 | €2,811 | €1,150 | -€1,661 | -59.1% |
| Total equity and liabilities | 10/49 | €348,007 | €338,238 | -€9,769 | -2.8% |
| Equity | 10/15 | €226,054 | €256,871 | +€30,817 | +13.6% |
| Contributions | 10/11 | €18,542 | €18,542 | = | 0.0% |
| Reserves | 13 | €207,512 | €238,329 | +€30,817 | +14.9% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €205,657 | €236,474 | +€30,817 | +15.0% |
| Amounts payable | 17/49 | €121,954 | €81,367 | -€40,587 | -33.3% |
| Amounts payable within one year | 42/48 | €121,954 | €81,367 | -€40,587 | -33.3% |
| Trade debts | 44 | - | €2,238 | +€2,238 | |
| Suppliers | 440/4 | - | €2,238 | +€2,238 | |
| Taxes, remuneration and social security | 45 | €31,004 | €31,129 | +€126 | +0.4% |
| Taxes | 450/3 | €31,004 | €31,129 | +€126 | +0.4% |
| Other amounts payable | 47/48 | €90,950 | €48,000 | -€42,950 | -47.2% |
| Other operating charges | 640/8 | €124 | €775 | +€651 | +525% |
| Gross operating margin | 9900 | €50,098 | €45,087 | -€5,011 | -10.0% |
| Operating profit (loss) | 9901 | €49,974 | €44,311 | -€5,662 | -11.3% |
| Financial income | 75/76B | €333 | €32 | -€301 | -90.5% |
| Recurring financial income | 75 | €333 | €32 | -€301 | -90.5% |
| Financial charges | 65/66B | €976 | €1,092 | +€116 | +11.9% |
| Recurring financial charges | 65 | €976 | €1,092 | +€116 | +11.9% |
| Profit (loss) for the period before taxes | 9903 | €49,331 | €43,251 | -€6,080 | -12.3% |
| Income taxes | 67/77 | €14,353 | €12,434 | -€1,920 | -13.4% |
| Profit (loss) for the period | 9904 | €34,977 | €30,817 | -€4,160 | -11.9% |
| Profit (loss) for the period to be appropriated | 9905 | €34,977 | €30,817 | -€4,160 | -11.9% |
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 16 October 2026 via checked.be.