VIOLAINE EMONARD: what changed
You see two financial years side by side: what moved most in the balance sheet and the result, why the result rose or fell and where the money went.
VIOLAINE EMONARD
Largest movements
- Tangible fixed assets -€39,092
down €39,092 (-7.0%), from €555,965 to €516,873
of which Land and buildings: -€19,944
- Cash +€21,011
up €21,011 (+176%), from €11,962 to €32,973
mainly Net result for the year (+€89,598) and Depreciation (+€58,520)
- Intangible fixed assets -€14,286
down €14,286 (-19.9%), from €71,820 to €57,534
- Profit (loss) carried forward +€89,598
new in 2025: €89,598
- Other debts -€88,247
down €88,247 (-81.6%), from €108,137 to €19,891
- Debts after one year -€20,270
down €20,270 (-5.6%), from €359,286 to €339,016
- Trade debts -€16,211
down €16,211 (-96.6%), from €16,776 to €566
- Gross operating margin +€38,755
up €38,755 (+18.2%), from €213,147 to €251,902
- Staff costs +€34,324
up €34,324 (+176%), from €19,474 to €53,797
- Depreciation -€22,578
down €22,578 (-27.8%), from €81,098 to €58,520
- Taxes +€4,376
up €4,376 (+20.6%), from €21,227 to €25,603
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €710,291 | €675,214 | -€35,078 | -4.9% |
| Fixed assets | 21/28 | €627,785 | €574,407 | -€53,378 | -8.5% |
| Intangible fixed assets | 21 | €71,820 | €57,534 | -€14,286 | -19.9% |
| Tangible fixed assets | 22/27 | €555,965 | €516,873 | -€39,092 | -7.0% |
| Land and buildings | 22 | €480,976 | €461,032 | -€19,944 | -4.1% |
| Furniture and vehicles | 24 | €74,989 | €55,841 | -€19,148 | -25.5% |
| Current assets | 29/58 | €82,506 | €100,807 | +€18,300 | +22.2% |
| Amounts receivable within one year | 40/41 | €139 | €0 | -€139 | -100% |
| Trade receivables | 40 | €139 | €0 | -€139 | -100% |
| Cash at bank and in hand | 54/58 | €11,962 | €32,973 | +€21,011 | +176% |
| Deferred charges and accrued income | 490/1 | €70,406 | €67,834 | -€2,572 | -3.7% |
| Total equity and liabilities | 10/49 | €710,291 | €675,214 | -€35,078 | -4.9% |
| Equity | 10/15 | €172,428 | €262,026 | +€89,598 | +52.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €169,428 | €169,428 | = | 0.0% |
| Distributable reserves | 133 | €169,428 | €169,428 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €89,598 | +€89,598 | |
| Amounts payable | 17/49 | €537,863 | €413,188 | -€124,675 | -23.2% |
| Amounts payable after more than one year | 17 | €359,286 | €339,016 | -€20,270 | -5.6% |
| Financial debts | 170/4 | €359,286 | €339,016 | -€20,270 | -5.6% |
| Amounts payable within one year | 42/48 | €169,898 | €64,400 | -€105,498 | -62.1% |
| Current portion of amounts payable after more than one year | 42 | €19,472 | €20,270 | +€798 | +4.1% |
| Trade debts | 44 | €16,776 | €566 | -€16,211 | -96.6% |
| Suppliers | 440/4 | €16,776 | €566 | -€16,211 | -96.6% |
| Taxes, remuneration and social security | 45 | €25,512 | €23,674 | -€1,838 | -7.2% |
| Taxes | 450/3 | €22,827 | €17,203 | -€5,624 | -24.6% |
| Remuneration and social security | 454/9 | €2,685 | €6,471 | +€3,786 | +141% |
| Other amounts payable | 47/48 | €108,137 | €19,891 | -€88,247 | -81.6% |
| Accrued charges and deferred income | 492/3 | €8,680 | €9,772 | +€1,092 | +12.6% |
| Remuneration, social security and pensions | 62 | €19,474 | €53,797 | +€34,324 | +176% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €81,098 | €58,520 | -€22,578 | -27.8% |
| Other operating charges | 640/8 | €3,925 | €2,163 | -€1,762 | -44.9% |
| Gross operating margin | 9900 | €213,147 | €251,902 | +€38,755 | +18.2% |
| Operating profit (loss) | 9901 | €108,651 | €137,421 | +€28,771 | +26.5% |
| Financial income | 75/76B | €0 | €3 | +€3 | +3,125% |
| Recurring financial income | 75 | €0 | €3 | +€3 | +3,125% |
| Financial charges | 65/66B | €23,549 | €22,223 | -€1,326 | -5.6% |
| Recurring financial charges | 65 | €23,549 | €22,223 | -€1,326 | -5.6% |
| Profit (loss) for the period before taxes | 9903 | €85,101 | €115,201 | +€30,099 | +35.4% |
| Income taxes | 67/77 | €21,227 | €25,603 | +€4,376 | +20.6% |
| Profit (loss) for the period | 9904 | €63,874 | €89,598 | +€25,723 | +40.3% |
| Profit (loss) for the period to be appropriated | 9905 | €63,874 | €89,598 | +€25,723 | +40.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.