EMKA2: what changed
What changed
EMKA2
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€124,295
2024 · €119,986+€4,308
Equity
€62,895
2024 · €138,586-€75,692
Cash
€121,067
2024 · €94,647+€26,420
Balance sheet total
€686,412
2024 · €666,507+€19,905
Largest movements
Assets
- Cash +€26,420
up €26,420 (+27.9%), from €94,647 to €121,067
mainly Net result for the year (+€124,295) and Other debts (+€114,899)
- Tangible fixed assets -€19,561
down €19,561 (-3.6%), from €549,685 to €530,124
of which Land and buildings: -€15,416
- Receivables within one year +€12,926
up €12,926 (+65.6%), from €19,716 to €32,641
of which Trade receivables: +€9,829
Equity and liabilities
- Other debts +€114,899
up €114,899 (+68.6%), from €167,567 to €282,467
- Reserves -€75,692
down €75,692 (-63.1%), from €119,986 to €44,295
- Debts after one year -€49,341
down €49,341 (-18.3%), from €269,864 to €220,523
- Tax, wage and social debts +€23,338
up €23,338 (+57.9%), from €40,313 to €63,652
of which Taxes: +€27,889
Income statement
- Gross operating margin +€24,005
up €24,005 (+9.8%), from €244,526 to €268,531
- Write-downs +€17,500
new in 2025: €17,500
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
€119,986
Gross operating margin
+€24,005
Staff costs
-€2,311
Depreciation
+€2,135
Write-downs
-€17,500
Other operating charges
-€1,431
Financial charges
+€1,496
Taxes
-€2,086
Result 2025
€124,295
raises the resultlowers the result
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
+€274,035
Investment
+€1,114
Financing
-€248,729
Cash 2024
€94,647
From operations (derived)
+€274,035
Net result for the year
+€124,295
Depreciation
+€18,447
Receivables within one year
-€12,926
Smaller working-capital items
-€411
Trade debts
+€6,392
Tax, wage and social debts
+€23,338
Other debts
+€114,899
Investment (derived)
+€1,114
Investment in fixed assets (net)
+€1,114
Financing
-€248,729
Debts after one year
-€49,341
Current portion of long-term debt
+€599
Contributions, distributions and other
-€199,986
Cash 2025
€121,067
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €666,507 | €686,412 | +€19,905 | +3.0% |
| Fixed assets | 21/28 | €550,455 | €530,894 | -€19,561 | -3.6% |
| Tangible fixed assets | 22/27 | €549,685 | €530,124 | -€19,561 | -3.6% |
| Land and buildings | 22 | €541,861 | €526,446 | -€15,416 | -2.8% |
| Furniture and vehicles | 24 | €4,030 | €3,679 | -€351 | -8.7% |
| Other tangible fixed assets | 26 | €3,794 | €0 | -€3,794 | -100% |
| Financial fixed assets | 28 | €770 | €770 | = | 0.0% |
| Current assets | 29/58 | €116,051 | €155,518 | +€39,466 | +34.0% |
| Amounts receivable within one year | 40/41 | €19,716 | €32,641 | +€12,926 | +65.6% |
| Trade receivables | 40 | €17,100 | €26,929 | +€9,829 | +57.5% |
| Other amounts receivable | 41 | €2,616 | €5,713 | +€3,097 | +118% |
| Cash at bank and in hand | 54/58 | €94,647 | €121,067 | +€26,420 | +27.9% |
| Deferred charges and accrued income | 490/1 | €1,689 | €1,810 | +€121 | +7.1% |
| Total equity and liabilities | 10/49 | €666,507 | €686,412 | +€19,905 | +3.0% |
| Equity | 10/15 | €138,586 | €62,895 | -€75,692 | -54.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €119,986 | €44,295 | -€75,692 | -63.1% |
| Distributable reserves | 133 | €119,986 | €44,295 | -€75,692 | -63.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €527,920 | €623,517 | +€95,597 | +18.1% |
| Amounts payable after more than one year | 17 | €269,864 | €220,523 | -€49,341 | -18.3% |
| Financial debts | 170/4 | €269,864 | €220,523 | -€49,341 | -18.3% |
| Amounts payable within one year | 42/48 | €257,765 | €402,994 | +€145,229 | +56.3% |
| Current portion of amounts payable after more than one year | 42 | €48,742 | €49,341 | +€599 | +1.2% |
| Trade debts | 44 | €1,143 | €7,535 | +€6,392 | +559% |
| Suppliers | 440/4 | €1,143 | €7,535 | +€6,392 | +559% |
| Taxes, remuneration and social security | 45 | €40,313 | €63,652 | +€23,338 | +57.9% |
| Taxes | 450/3 | €26,972 | €54,861 | +€27,889 | +103% |
| Remuneration and social security | 454/9 | €13,341 | €8,790 | -€4,551 | -34.1% |
| Other amounts payable | 47/48 | €167,567 | €282,467 | +€114,899 | +68.6% |
| Accrued charges and deferred income | 492/3 | €290 | €0 | -€290 | -100% |
| Remuneration, social security and pensions | 62 | €55,847 | €58,159 | +€2,311 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,582 | €18,447 | -€2,135 | -10.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €17,500 | +€17,500 | |
| Other operating charges | 640/8 | €3,076 | €4,506 | +€1,431 | +46.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €244,526 | €268,531 | +€24,005 | +9.8% |
| Operating profit (loss) | 9901 | €165,021 | €169,919 | +€4,899 | +3.0% |
| Financial charges | 65/66B | €9,158 | €7,663 | -€1,496 | -16.3% |
| Recurring financial charges | 65 | €9,158 | €7,663 | -€1,496 | -16.3% |
| Profit (loss) for the period before taxes | 9903 | €155,862 | €162,257 | +€6,395 | +4.1% |
| Income taxes | 67/77 | €35,876 | €37,962 | +€2,086 | +5.8% |
| Profit (loss) for the period | 9904 | €119,986 | €124,295 | +€4,308 | +3.6% |
| Profit (loss) for the period to be appropriated | 9905 | €119,986 | €124,295 | +€4,308 | +3.6% |
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 6 November 2026 via checked.be.