L'EMIR: 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.
L'EMIR
Largest movements
- Receivables within one year -€26,573
no longer reported in 2025 (was €26,573)
of which Trade receivables: -€26,262
- Cash +€19,434
up €19,434 (+1,287%), from €1,510 to €20,944
mainly Receivables within one year (+€26,573) and Net result for the year (+€11,590)
- Tangible fixed assets -€1,212
down €1,212 (-20.4%), from €5,940 to €4,728
- Trade debts -€16,599
down €16,599 (-55.2%), from €30,080 to €13,481
- Profit (loss) carried forward +€11,590
up €11,590 (+22.8%), from -€50,902 to -€39,312
- Other debts -€4,753
down €4,753 (-12.8%), from €37,213 to €32,460
- Tax, wage and social debts +€1,411
up €1,411 (+53.6%), from €2,632 to €4,043
of which Taxes: +€1,461
- Purchases and services +€24,860
up €24,860 (+19.3%), from €128,964 to €153,824
- Gross operating margin +€6,744
up €6,744 (+94.5%), from €7,136 to €13,881
- Financial charges +€528
up €528 (+324%), from €163 to €691
- Depreciation -€458
down €458 (-27.4%), from €1,670 to €1,212
- Other operating charges +€387
new in 2025: €387
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 | €34,023 | €25,672 | -€8,350 | -24.5% |
| Fixed assets | 21/28 | €5,940 | €4,728 | -€1,212 | -20.4% |
| Tangible fixed assets | 22/27 | €5,940 | €4,728 | -€1,212 | -20.4% |
| Other tangible fixed assets | 26 | €5,940 | €4,728 | -€1,212 | -20.4% |
| Current assets | 29/58 | €28,083 | €20,944 | -€7,139 | -25.4% |
| Amounts receivable within one year | 40/41 | €26,573 | - | -€26,573 | |
| Trade receivables | 40 | €26,262 | - | -€26,262 | |
| Other amounts receivable | 41 | €311 | - | -€311 | |
| Cash at bank and in hand | 54/58 | €1,510 | €20,944 | +€19,434 | +1,287% |
| Total equity and liabilities | 10/49 | €34,023 | €25,672 | -€8,350 | -24.5% |
| Equity | 10/15 | -€35,902 | -€24,312 | +€11,590 | +32.3% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€50,902 | -€39,312 | +€11,590 | +22.8% |
| Amounts payable | 17/49 | €69,924 | €49,984 | -€19,940 | -28.5% |
| Amounts payable within one year | 42/48 | €69,924 | €49,984 | -€19,940 | -28.5% |
| Trade debts | 44 | €30,080 | €13,481 | -€16,599 | -55.2% |
| Suppliers | 440/4 | €30,080 | €13,481 | -€16,599 | -55.2% |
| Taxes, remuneration and social security | 45 | €2,632 | €4,043 | +€1,411 | +53.6% |
| Taxes | 450/3 | €2,307 | €3,768 | +€1,461 | +63.4% |
| Remuneration and social security | 454/9 | €325 | €275 | -€50 | -15.4% |
| Other amounts payable | 47/48 | €37,213 | €32,460 | -€4,753 | -12.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €128,964 | €153,824 | +€24,860 | +19.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,670 | €1,212 | -€458 | -27.4% |
| Other operating charges | 640/8 | - | €387 | +€387 | |
| Gross operating margin | 9900 | €7,136 | €13,881 | +€6,744 | +94.5% |
| Operating profit (loss) | 9901 | €5,467 | €12,282 | +€6,815 | +125% |
| Financial charges | 65/66B | €163 | €691 | +€528 | +324% |
| Recurring financial charges | 65 | €163 | €691 | +€528 | +324% |
| Profit (loss) for the period before taxes | 9903 | €5,303 | €11,590 | +€6,287 | +119% |
| Profit (loss) for the period | 9904 | €5,303 | €11,590 | +€6,287 | +119% |
| Profit (loss) for the period to be appropriated | 9905 | €5,303 | €11,590 | +€6,287 | +119% |
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 18 October 2026 via checked.be.