EMO: what changed
What changed
EMO
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
filed annual accounts (NBB)
Net result for the year
€12,585
2024 · -€31,885+€44,470
Equity
€242,745
2024 · €230,160+€12,585
Cash
€921
2024 · €2,803-€1,882
Balance sheet total
€559,844
2024 · €576,341-€16,497
Largest movements
Assets
- Tangible fixed assets -€8,561
down €8,561 (-1.6%), from €526,010 to €517,449
of which Land and buildings: -€8,472
Equity and liabilities
- Other debts -€36,317
down €36,317 (-10.6%), from €341,643 to €305,326
- Reserves +€12,585
up €12,585 (+7.5%), from €168,160 to €180,745
of which Distributable reserves: +€6,385
- Debts after one year +€10,500
new in 2025: €10,500
Income statement
- Gross operating margin -€24,404
down €24,404 (-42.3%), from €57,738 to €33,334
- Other operating charges -€5,347
down €5,347 (-42.2%), from €12,685 to €7,338
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.
Result 2024
-€31,885
Gross operating margin
-€24,404
Depreciation
+€230
Other operating charges
+€5,347
Other operating items
+€63,302
Financial charges
-€5
Result 2025
€12,585
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€7,712
Investment
-€4,671
Financing
+€10,500
Cash 2024
€2,803
From operations (derived)
-€7,712
Net result for the year
+€12,585
Depreciation
+€13,231
Receivables within one year
+€2,840
Deferred charges and accrued income
+€3,214
Trade debts
-€3,387
Tax, wage and social debts
+€123
Other debts
-€36,317
Investment (derived)
-€4,671
Investment in fixed assets (net)
-€4,671
Financing
+€10,500
Debts after one year
+€10,500
Cash 2025
€921
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €576,341 | €559,844 | -€16,497 | -2.9% |
| Fixed assets | 21/28 | €526,010 | €517,449 | -€8,561 | -1.6% |
| Tangible fixed assets | 22/27 | €526,010 | €517,449 | -€8,561 | -1.6% |
| Land and buildings | 22 | €265,104 | €256,632 | -€8,472 | -3.2% |
| Plant, machinery and equipment | 23 | €4,394 | €4,884 | +€491 | +11.2% |
| Furniture and vehicles | 24 | €255,365 | €255,276 | -€89 | 0.0% |
| Other tangible fixed assets | 26 | €1,148 | €657 | -€490 | -42.7% |
| Current assets | 29/58 | €50,331 | €42,395 | -€7,936 | -15.8% |
| Stocks and contracts in progress | 3 | €40,865 | €40,865 | = | 0.0% |
| Stocks | 30/36 | €40,865 | €40,865 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €3,450 | €610 | -€2,840 | -82.3% |
| Trade receivables | 40 | €1,892 | €40 | -€1,852 | -97.9% |
| Other amounts receivable | 41 | €1,558 | €570 | -€988 | -63.4% |
| Cash at bank and in hand | 54/58 | €2,803 | €921 | -€1,882 | -67.2% |
| Deferred charges and accrued income | 490/1 | €3,214 | - | -€3,214 | |
| Total equity and liabilities | 10/49 | €576,341 | €559,844 | -€16,497 | -2.9% |
| Equity | 10/15 | €230,160 | €242,745 | +€12,585 | +5.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €168,160 | €180,745 | +€12,585 | +7.5% |
| Non-distributable reserves | 130/1 | - | €6,200 | +€6,200 | |
| Legal reserve | 130 | - | €6,200 | +€6,200 | |
| Distributable reserves | 133 | €168,160 | €174,545 | +€6,385 | +3.8% |
| Amounts payable | 17/49 | €346,181 | €317,100 | -€29,082 | -8.4% |
| Amounts payable after more than one year | 17 | - | €10,500 | +€10,500 | |
| Other amounts payable | 178/9 | - | €10,500 | +€10,500 | |
| Amounts payable within one year | 42/48 | €346,181 | €306,600 | -€39,582 | -11.4% |
| Trade debts | 44 | €4,061 | €674 | -€3,387 | -83.4% |
| Suppliers | 440/4 | €4,061 | €674 | -€3,387 | -83.4% |
| Taxes, remuneration and social security | 45 | €477 | €600 | +€123 | +25.8% |
| Taxes | 450/3 | €477 | €600 | +€123 | +25.8% |
| Other amounts payable | 47/48 | €341,643 | €305,326 | -€36,317 | -10.6% |
| Non-recurring operating income | 76A | - | €585 | +€585 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,461 | €13,231 | -€230 | -1.7% |
| Other operating charges | 640/8 | €12,685 | €7,338 | -€5,347 | -42.2% |
| Non-recurring operating charges | 66A | €63,302 | - | -€63,302 | |
| Gross operating margin | 9900 | €57,738 | €33,334 | -€24,404 | -42.3% |
| Operating profit (loss) | 9901 | -€31,710 | €12,765 | +€44,474 | |
| Financial charges | 65/66B | €175 | €180 | +€5 | +2.7% |
| Recurring financial charges | 65 | €175 | €180 | +€5 | +2.7% |
| Profit (loss) for the period before taxes | 9903 | -€31,885 | €12,585 | +€44,470 | |
| Profit (loss) for the period | 9904 | -€31,885 | €12,585 | +€44,470 | |
| Profit (loss) for the period to be appropriated | 9905 | -€31,885 | €12,585 | +€44,470 |
Next steps
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Calculation and sources
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 8 November 2026 via checked.be.