PROJECTS EMMERECHTS: 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.
PROJECTS EMMERECHTS
Largest movements
- Tangible fixed assets -€25,502
down €25,502 (-21.7%), from €117,510 to €92,008
of which Furniture and vehicles: -€25,356
- Receivables within one year +€13,392
up €13,392 (+53.8%), from €24,896 to €38,288
of which Trade receivables: +€8,566
- Cash -€9,935
down €9,935 (-29.3%), from €33,910 to €23,975
mainly Debts after one year (-€22,683) and Receivables within one year (-€13,392)
- Debts after one year -€22,683
down €22,683 (-29.2%), from €77,773 to €55,090
- Profit (loss) carried forward -€8,040
down €8,040 (-11.1%), from €72,163 to €64,123
- Trade debts +€5,204
up €5,204 (+987.6%), from €527 to €5,731
- Depreciation +€8,465
up €8,465 (+43.6%), from €19,412 to €27,877
- Gross operating margin -€3,646
down €3,646 (-11.9%), from €30,756 to €27,110
- Taxes -€460
down €460 (-15.9%), from €2,886 to €2,426
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 | €176,762 | €154,383 | -€22,379 | -12.7% |
| Fixed assets | 21/28 | €117,510 | €92,008 | -€25,502 | -21.7% |
| Tangible fixed assets | 22/27 | €117,510 | €92,008 | -€25,502 | -21.7% |
| Plant, machinery and equipment | 23 | €1,574 | €1,428 | -€146 | -9.3% |
| Furniture and vehicles | 24 | €115,936 | €90,580 | -€25,356 | -21.9% |
| Current assets | 29/58 | €59,252 | €62,376 | +€3,124 | +5.3% |
| Amounts receivable within one year | 40/41 | €24,896 | €38,288 | +€13,392 | +53.8% |
| Trade receivables | 40 | €4,830 | €13,396 | +€8,566 | +177.4% |
| Other amounts receivable | 41 | €20,066 | €24,891 | +€4,826 | +24.1% |
| Cash at bank and in hand | 54/58 | €33,910 | €23,975 | -€9,935 | -29.3% |
| Deferred charges and accrued income | 490/1 | €447 | €114 | -€333 | -74.5% |
| Total equity and liabilities | 10/49 | €176,762 | €154,383 | -€22,379 | -12.7% |
| Equity | 10/15 | €74,663 | €66,623 | -€8,040 | -10.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €72,163 | €64,123 | -€8,040 | -11.1% |
| Amounts payable | 17/49 | €102,099 | €87,760 | -€14,338 | -14.0% |
| Amounts payable after more than one year | 17 | €77,773 | €55,090 | -€22,683 | -29.2% |
| Financial debts | 170/4 | €77,773 | €55,090 | -€22,683 | -29.2% |
| Amounts payable within one year | 42/48 | €22,172 | €30,517 | +€8,344 | +37.6% |
| Current portion of amounts payable after more than one year | 42 | €21,645 | €22,683 | +€1,037 | +4.8% |
| Trade debts | 44 | €527 | €5,731 | +€5,204 | +987.6% |
| Suppliers | 440/4 | €527 | €5,731 | +€5,204 | +987.6% |
| Advances received on contracts in progress | 46 | - | €655 | +€655 | |
| Taxes, remuneration and social security | 45 | - | €1,448 | +€1,448 | |
| Taxes | 450/3 | - | €1,448 | +€1,448 | |
| Accrued charges and deferred income | 492/3 | €2,154 | €2,154 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,412 | €27,877 | +€8,465 | +43.6% |
| Other operating charges | 640/8 | €959 | €987 | +€28 | +2.9% |
| Gross operating margin | 9900 | €30,756 | €27,110 | -€3,646 | -11.9% |
| Operating profit (loss) | 9901 | €10,385 | -€1,755 | -€12,140 | |
| Financial income | 75/76B | €228 | €446 | +€218 | +95.7% |
| Recurring financial income | 75 | €228 | €446 | +€218 | +95.7% |
| Financial charges | 65/66B | €4,312 | €4,306 | -€6 | -0.1% |
| Recurring financial charges | 65 | €4,312 | €4,306 | -€6 | -0.1% |
| Profit (loss) for the period before taxes | 9903 | €6,301 | -€5,614 | -€11,915 | |
| Income taxes | 67/77 | €2,886 | €2,426 | -€460 | -15.9% |
| Profit (loss) for the period | 9904 | €3,415 | -€8,040 | -€11,455 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,415 | -€8,040 | -€11,455 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.