NV-EMC: 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.
NV-EMC
Largest movements
- Tangible fixed assets +€53,793
up €53,793 (+8,437%), from €638 to €54,430
of which Land and buildings: +€29,809
- Cash +€34,858
up €34,858 (+69.2%), from €50,364 to €85,221
mainly Net result for the year (+€91,818) and Debts after one year (+€24,264)
- Receivables within one year +€31,438
up €31,438 (+43.8%), from €71,802 to €103,240
of which Other amounts receivable: +€39,417
- Current investments -€3,982
down €3,982 (-4.0%), from €99,821 to €95,839
- Reserves +€91,818
up €91,818 (+84.9%), from €108,199 to €200,017
- Debts after one year +€24,264
up €24,264 (+33.9%), from €71,575 to €95,839
- Other debts -€4,593
no longer reported in 2025 (was €4,593)
- Trade debts +€4,525
up €4,525 (+113%), from €3,997 to €8,522
- Gross operating margin +€29,341
up €29,341 (+31.7%), from €92,467 to €121,808
- Depreciation +€2,104
up €2,104 (+1,072%), from €196 to €2,300
- Taxes +€1,811
up €1,811 (+8.1%), from €22,388 to €24,199
- Financial charges -€1,774
down €1,774 (-28.5%), from €6,214 to €4,440
- Financial income +€1,493
new in 2025: €1,493
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 | €222,824 | €341,899 | +€119,074 | +53.4% |
| Fixed assets | 21/28 | €638 | €54,430 | +€53,793 | +8,437% |
| Tangible fixed assets | 22/27 | €638 | €54,430 | +€53,793 | +8,437% |
| Land and buildings | 22 | - | €29,809 | +€29,809 | |
| Plant, machinery and equipment | 23 | - | €2,726 | +€2,726 | |
| Furniture and vehicles | 24 | €638 | €441 | -€196 | -30.8% |
| Other tangible fixed assets | 26 | - | €21,454 | +€21,454 | |
| Current assets | 29/58 | €222,187 | €287,468 | +€65,282 | +29.4% |
| Amounts receivable within one year | 40/41 | €71,802 | €103,240 | +€31,438 | +43.8% |
| Trade receivables | 40 | €71,802 | €63,823 | -€7,979 | -11.1% |
| Other amounts receivable | 41 | - | €39,417 | +€39,417 | |
| Current investments | 50/53 | €99,821 | €95,839 | -€3,982 | -4.0% |
| Cash at bank and in hand | 54/58 | €50,364 | €85,221 | +€34,858 | +69.2% |
| Deferred charges and accrued income | 490/1 | €200 | €3,168 | +€2,968 | +1,482% |
| Total equity and liabilities | 10/49 | €222,824 | €341,899 | +€119,074 | +53.4% |
| Equity | 10/15 | €109,199 | €201,017 | +€91,818 | +84.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €108,199 | €200,017 | +€91,818 | +84.9% |
| Distributable reserves | 133 | €108,199 | €200,017 | +€91,818 | +84.9% |
| Amounts payable | 17/49 | €113,626 | €140,882 | +€27,256 | +24.0% |
| Amounts payable after more than one year | 17 | €71,575 | €95,839 | +€24,264 | +33.9% |
| Financial debts | 170/4 | €71,575 | €95,839 | +€24,264 | +33.9% |
| Amounts payable within one year | 42/48 | €40,550 | €43,768 | +€3,218 | +7.9% |
| Trade debts | 44 | €3,997 | €8,522 | +€4,525 | +113% |
| Suppliers | 440/4 | €3,997 | €8,522 | +€4,525 | +113% |
| Taxes, remuneration and social security | 45 | €31,960 | €35,246 | +€3,285 | +10.3% |
| Taxes | 450/3 | €30,833 | €34,119 | +€3,285 | +10.7% |
| Remuneration and social security | 454/9 | €1,127 | €1,127 | = | 0.0% |
| Other amounts payable | 47/48 | €4,593 | - | -€4,593 | |
| Accrued charges and deferred income | 492/3 | €1,500 | €1,275 | -€225 | -15.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €196 | €2,300 | +€2,104 | +1,072% |
| Other operating charges | 640/8 | €475 | €543 | +€68 | +14.4% |
| Gross operating margin | 9900 | €92,467 | €121,808 | +€29,341 | +31.7% |
| Operating profit (loss) | 9901 | €91,796 | €118,965 | +€27,169 | +29.6% |
| Financial income | 75/76B | - | €1,493 | +€1,493 | |
| Recurring financial income | 75 | - | €1,493 | +€1,493 | |
| Financial charges | 65/66B | €6,214 | €4,440 | -€1,774 | -28.5% |
| Recurring financial charges | 65 | €6,214 | €4,440 | -€1,774 | -28.5% |
| Profit (loss) for the period before taxes | 9903 | €85,582 | €116,017 | +€30,436 | +35.6% |
| Income taxes | 67/77 | €22,388 | €24,199 | +€1,811 | +8.1% |
| Profit (loss) for the period | 9904 | €63,193 | €91,818 | +€28,625 | +45.3% |
| Profit (loss) for the period to be appropriated | 9905 | €63,193 | €91,818 | +€28,625 | +45.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.