Nico Emonds: 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.
Nico Emonds
Largest movements
- Cash -€51,158
down €51,158 (-39.8%), from €128,630 to €77,471
mainly Investment in fixed assets (net) (-€79,676) and Trade debts (-€31,731)
- Tangible fixed assets +€28,944
up €28,944 (+32.1%), from €90,097 to €119,041
of which Plant, machinery and equipment: +€52,997
- Receivables within one year +€5,256
up €5,256 (+10.2%), from €51,469 to €56,725
of which Trade receivables: +€8,063
- Trade debts -€31,731
down €31,731 (-49.0%), from €64,714 to €32,984
- Other debts -€19,699
down €19,699 (-22.6%), from €87,240 to €67,541
- Reserves +€17,809
up €17,809 (+18.2%), from €97,586 to €115,396
- Accrued charges and deferred income +€16,850
up €16,850 (+2,677%), from €629 to €17,480
- Depreciation +€18,678
up €18,678 (+58.3%), from €32,053 to €50,732
- Taxes -€10,041
down €10,041 (-86.2%), from €11,654 to €1,612
- Gross operating margin -€2,723
down €2,723 (-3.7%), from €73,598 to €70,875
- Other operating charges -€1,533
down €1,533 (-93.0%), from €1,649 to €116
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 | €270,196 | €253,238 | -€16,958 | -6.3% |
| Fixed assets | 21/28 | €90,097 | €119,041 | +€28,944 | +32.1% |
| Tangible fixed assets | 22/27 | €90,097 | €119,041 | +€28,944 | +32.1% |
| Land and buildings | 22 | €3,101 | €2,713 | -€388 | -12.5% |
| Plant, machinery and equipment | 23 | €16,000 | €68,997 | +€52,997 | +331% |
| Furniture and vehicles | 24 | €70,996 | €47,331 | -€23,665 | -33.3% |
| Current assets | 29/58 | €180,099 | €134,197 | -€45,902 | -25.5% |
| Amounts receivable within one year | 40/41 | €51,469 | €56,725 | +€5,256 | +10.2% |
| Trade receivables | 40 | €46,113 | €54,176 | +€8,063 | +17.5% |
| Other amounts receivable | 41 | €5,356 | €2,549 | -€2,807 | -52.4% |
| Cash at bank and in hand | 54/58 | €128,630 | €77,471 | -€51,158 | -39.8% |
| Total equity and liabilities | 10/49 | €270,196 | €253,238 | -€16,958 | -6.3% |
| Equity | 10/15 | €99,586 | €117,396 | +€17,809 | +17.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €97,586 | €115,396 | +€17,809 | +18.2% |
| Distributable reserves | 133 | €97,586 | €115,396 | +€17,809 | +18.2% |
| Amounts payable | 17/49 | €170,610 | €135,842 | -€34,767 | -20.4% |
| Amounts payable within one year | 42/48 | €169,980 | €118,363 | -€51,618 | -30.4% |
| Trade debts | 44 | €64,714 | €32,984 | -€31,731 | -49.0% |
| Suppliers | 440/4 | €64,714 | €32,984 | -€31,731 | -49.0% |
| Taxes, remuneration and social security | 45 | €18,026 | €17,838 | -€188 | -1.0% |
| Taxes | 450/3 | €15,547 | €11,654 | -€3,894 | -25.0% |
| Remuneration and social security | 454/9 | €2,479 | €6,185 | +€3,706 | +149% |
| Other amounts payable | 47/48 | €87,240 | €67,541 | -€19,699 | -22.6% |
| Accrued charges and deferred income | 492/3 | €629 | €17,480 | +€16,850 | +2,677% |
| Remuneration, social security and pensions | 62 | - | €411 | +€411 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,053 | €50,732 | +€18,678 | +58.3% |
| Other operating charges | 640/8 | €1,649 | €116 | -€1,533 | -93.0% |
| Gross operating margin | 9900 | €73,598 | €70,875 | -€2,723 | -3.7% |
| Operating profit (loss) | 9901 | €39,896 | €19,617 | -€20,280 | -50.8% |
| Financial income | 75/76B | - | €84 | +€84 | |
| Recurring financial income | 75 | - | €84 | +€84 | |
| Financial charges | 65/66B | €167 | €279 | +€112 | +67.3% |
| Recurring financial charges | 65 | €167 | €279 | +€112 | +67.3% |
| Profit (loss) for the period before taxes | 9903 | €39,730 | €19,422 | -€20,308 | -51.1% |
| Income taxes | 67/77 | €11,654 | €1,612 | -€10,041 | -86.2% |
| Profit (loss) for the period | 9904 | €28,076 | €17,809 | -€10,267 | -36.6% |
| Profit (loss) for the period to be appropriated | 9905 | €28,076 | €17,809 | -€10,267 | -36.6% |
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 20 October 2026 via checked.be.