This paper presents our approach for SemEval 2025 Task 11 Track A, focusing on multilabel emotion classification across 28 languages. We explore two main strategies: fully fine-tuning transformer models and classifier-only training, evaluating different settings such as fine-tuning strategies, model architectures, loss functions, encoders, and classifiers. Our findings suggest that training a classifier on top of prompt-based encoders such as mE5 and BGE yields significantly better results than fully fine-tuning XLMR and mBERT. Our best-performing model on the final leaderboard is an ensemble combining multiple BGE models, where CatBoost serves as the classifier, with different configurations. This ensemble achieves an average F1-macro score of 56.58 across all languages.