IETSINDEMEDIA
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 3 days after the deadline Filed on 3 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00374048.
Annual accounts 2025 filed on 03-08-2026 at the NBB all 19 filings
Turnover
≈ €150,000
Estimated: probably between €100,000 and €260,000
Total assets
€1.1m▼ 3.9%
2024 · €1.1m
Net result
€8,282▼ 81.6%
2024 · €44,913
Working capital
-€611,961▲ 0.6%
2024 · -€615,704
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€18,764
▼ 73.3%
2025
20182025
Net result
€8,282
▼ 81.6%
2025
middle half of the sector
20182025
Equity
€298,825
▲ 2.9%
2025
highest quarter of the sector
20182025
Total assets
€1.1m
▼ 3.9%
2025
highest quarter of the sector
20182025
Debt
€752,898
▼ 6.3%
2025
20182025
Working capital
-€611,961
▲ 0.6%
2025
lowest quarter of the sector
20182025
Solvency
28.4%
▲ 1.9pp
2025
middle half of the sector
20182025
Current ratio
0.03
▼ 0.02
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
0.8%
▼ 3.3pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.05m-€0.08m▲ 59.7%-€0.001m€0.07m€0.05m▼ 25.2%€0.08m▲ 52.4%€0.07m▼ 14.5%€0.02m▼ 73.3%
Net result€0.04m-€0.07m▲ 77.1%-€0.01mbelow the sector's middle half€0.05mabove the sector's middle half€0.04mabove the sector's middle half▼ 30.1%€0.04mabove the sector's middle half▲ 5.1%€0.04mabove the sector's middle half▲ 16.6%€0.008mwithin the sector's middle half▼ 81.6%
Equity€0.08m-€0.2m▲ 80.4%€0.1mabove the sector's middle half▼ 8.9%€0.2mabove the sector's middle half▲ 23.5%€0.2mabove the sector's middle half▲ 21.5%€0.2mabove the sector's middle half▲ 18.6%€0.3mabove the sector's middle half▲ 18.3%€0.3mabove the sector's middle half▲ 2.9%
Total assets€1.2m-€1.2m▼ 3.1%€1.1mabove the sector's middle half▼ 6.2%€1.1mabove the sector's middle half▲ 0.6%€1.1mabove the sector's middle half▼ 2.4%€1.1mabove the sector's middle half▲ 0.4%€1.1mabove the sector's middle half▼ 2.0%€1.1mabove the sector's middle half▼ 3.9%
Debt€1.2m-€1.1m▼ 9.2%€1.0m▼ 5.9%€1.0m▼ 2.6%€0.9m▼ 6.6%€0.9m▼ 3.8%€0.8m▼ 7.7%€0.8m▼ 6.3%
Working capital-€0.8m--€0.7m▲ 8.1%-€0.7mbelow the sector's middle half▼ 2.0%-€0.7mbelow the sector's middle half▲ 5.3%-€0.7mbelow the sector's middle half▲ 3.7%-€0.7mbelow the sector's middle half▲ 2.4%-€0.6mbelow the sector's middle half▲ 7.0%-€0.6mbelow the sector's middle half▲ 0.6%
Solvency6.7%-12.5%▲ 5.8pp12.2%below the sector's middle half▼ 0.4pp15.0%below the sector's middle half▲ 2.8pp18.6%within the sector's middle half▲ 3.7pp22.0%within the sector's middle half▲ 3.4pp26.6%within the sector's middle half▲ 4.6pp28.4%within the sector's middle half▲ 1.9pp
Current ratio0.08-0.07▼ 0.010.02below the sector's middle half▼ 0.060.06below the sector's middle half▲ 0.050.05below the sector's middle half▼ 0.010.05below the sector's middle half=0.05below the sector's middle half=0.03below the sector's middle half▼ 0.02
Return on assets (ROA)3.1%-5.6%▲ 2.5pp-1.2%within the sector's middle half▼ 6.8pp4.6%within the sector's middle half▲ 5.8pp3.3%within the sector's middle half▼ 1.3pp3.5%within the sector's middle half▲ 0.2pp4.1%within the sector's middle half▲ 0.7pp0.8%within the sector's middle half▼ 3.3pp
above
within
below
The sector band is the middle half of the companies in Motion picture, video and television programme production, sound recording and music publishing activities (NACE 59). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 73% lower than in 2024 and the lowest since 2021. It is the second fall in a row.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.1m
Fixed assets
€1.0m ▼ 2.6%
Current assets
€16,391 ▼ 46.3%
Equity and liabilities €1.1m
Equity
€298,825 ▲ 2.9%
Debt
€752,898 ▼ 6.3%
Debt's share of the balance-sheet total falls from 73.4% to 71.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€47,792▼
2024 · €99,507
Cash flow
€37,310▼
2024 · €74,118
Debt to equity
2.52▼
2024 · 2.77
ROE
2.8%▼
2024 · 15.5%
Interest coverage
7.30▼
2024 · 14.35
Debt ≤ 1 year
€628,352▼
2024 · €646,225
Debt > 1 year
€112,403▼
2024 · €139,316
Income taxes
€4,104▼
2024 · €18,458
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €4,659 | €12,313 | €34,753 | €6,934 | €63,236 |
| Intangible fixed assets | - | - | - | - | €2,800 |
| Financial fixed assets | - | - | - | €3,500 | - |
| Depreciation and write-downs of the year | €34,310 | €26,211 | €28,594 | €29,206 | €29,028 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €199 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €35,600 | €35,168 | €33,954 | €34,310 | €26,211 | €28,594 | €29,206 | €29,028 | ▼ 0.6% |
| Other operating charges640/8 | - | - | - | €3,487 | €4,183 | €4,481 | €5,767 | €2,256 | ▼ 60.9% |
| Gross operating margin9900 | €87,468 | €120,816 | €34,863 | €109,951 | €84,352 | €115,296 | €105,274 | €50,048 | ▼ 52.5% |
| Operating profit (loss)9901 | €49,869 | €79,661 | -€1,322 | €72,153 | €53,958 | €82,222 | €70,302 | €18,764 | ▼ 73.3% |
| Financial income75/76B | - | - | - | €40 | €38 | €1 | €3 | €169 | ▲ 59× |
| Recurring financial income75 | €30 | €1 | €3 | €40 | €38 | €1 | €3 | €169 | ▲ 59× |
| Financial charges65/66B | - | - | - | €10,835 | €8,748 | €15,594 | €6,934 | €6,547 | ▼ 5.6% |
| Recurring financial charges65 | €11,423 | €11,170 | €10,401 | €10,835 | €8,748 | €15,594 | €6,934 | €6,547 | ▼ 5.6% |
| Profit (loss) for the period before taxes9903 | €38,475 | €68,492 | -€11,719 | €61,359 | €45,248 | €66,629 | €63,371 | €12,386 | ▼ 80.5% |
| Income taxes67/77 | €354 | €972 | €1,753 | €8,904 | €8,599 | €28,096 | €18,458 | €4,104 | ▼ 77.8% |
| Profit (loss) for the period9904 | €38,121 | €67,520 | -€13,472 | €52,455 | €36,649 | €38,532 | €44,913 | €8,282 | ▼ 81.6% |
| Profit (loss) for the period to be appropriated9905 | €38,121 | €67,520 | -€13,472 | €52,455 | €36,649 | €38,532 | €44,913 | €8,282 | ▼ 81.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.2m | €1.2m | €1.1m | €1.1m | €1.1m | €1.1m | €1.1m | €1.1m | ▼ 3.9% |
| Fixed assets21/28 | €1.2m | €1.1m | €1.1m | €1.1m | €1.1m | €1.1m | €1.1m | €1.0m | ▼ 2.6% |
| Tangible fixed assets22/27 | €1.2m | €1.1m | €1.1m | €1.1m | €1.1m | €1.1m | €1.1m | €1.0m | ▼ 2.7% |
| Land and buildings22 | - | - | - | €1.1m | €1.0m | €1.0m | €1.0m | €1.0m | ▼ 2.2% |
| Plant, machinery and equipment23 | - | - | - | €0.005m | €0.006m | €0.002m | €0.004m | €0.003m | ▼ 18.6% |
| Furniture and vehicles24 | - | - | - | €0.001m | €0.004m | €0.02m | €0.01m | €0.008m | ▼ 32.2% |
| Other tangible fixed assets26 | - | - | - | €0.01m | €0.008m | €0.007m | €0.006m | €0.004m | ▼ 20.3% |
| Financial fixed assets28 | €0.009m | €0.009m | €0.009m | €0.009m | €0.009m | €0.009m | €0.01m | €0.01m | = |
| Current assets29/58 | €0.07m | €0.06m | €0.01m | €0.05m | €0.04m | €0.03m | €0.03m | €0.02m | ▼ 46.3% |
| Amounts receivable within one year40/41 | €0.04m | €0.03m | €0.01m | €0.04m | €0.02m | €0.02m | €0.01m | €0.01m | ▲ 1.7% |
| Trade receivables40 | - | - | - | €0.04m | €0.02m | €0.02m | €0.01m | €0.01m | ▼ 7.6% |
| Other amounts receivable41 | - | - | - | - | - | - | €18 | €0.001m | ▲ 63× |
| Cash at bank and in hand54/58 | €0.03m | €0.03m | €0.001m | €0.008m | €0.01m | €0.01m | €0.01m | €0.002m | ▼ 86.6% |
| Deferred charges and accrued income490/1 | - | - | - | €0.001m | €0.001m | €0.004m | €0.004m | €0.002m | ▼ 50.6% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.2m | €1.2m | €1.1m | €1.1m | €1.1m | €1.1m | €1.1m | €1.1m | ▼ 3.9% |
| Equity10/15 | €0.08m | €0.2m | €0.1m | €0.2m | €0.2m | €0.2m | €0.3m | €0.3m | ▲ 2.9% |
| Contributions10/11 | €0.01m | €0.01m | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Revaluation surpluses12 | - | - | - | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | = |
| Reserves13 | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Tax-exempt reserves132 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Profit (loss) carried forward14 | €0.001m | €0.07m | €0.05m | €0.09m | €0.1m | €0.2m | €0.2m | €0.2m | ▲ 4.0% |
| Amounts payable17/49 | €1.2m | €1.1m | €1.0m | €1.0m | €0.9m | €0.9m | €0.8m | €0.8m | ▼ 6.3% |
| Amounts payable after more than one year17 | €0.3m | €0.3m | €0.2m | €0.2m | €0.2m | €0.2m | €0.1m | €0.1m | ▼ 19.3% |
| Financial debts170/4 | - | - | - | €0.2m | €0.2m | €0.2m | €0.1m | €0.1m | ▼ 19.3% |
| Amounts payable within one year42/48 | €0.9m | €0.8m | €0.8m | €0.8m | €0.7m | €0.7m | €0.6m | €0.6m | ▼ 2.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.02m | €0.03m | €0.03m | €0.03m | €0.03m | ▲ 3.6% |
| Financial debts43 | - | - | - | - | - | - | - | €32 | - |
| Credit institutions430/8 | - | - | - | - | - | - | - | €32 | - |
| Trade debts44 | €0.006m | €0.002m | €0.001m | €0.001m | €0.004m | €0.004m | €0.001m | €0.003m | ▲ 116% |
| Suppliers440/4 | - | - | - | €0.001m | €0.004m | €0.004m | €0.001m | €0.003m | ▲ 116% |
| Taxes, remuneration and social security45 | - | - | - | €0.01m | €0.02m | €0.03m | €0.03m | €0.03m | ▼ 8.3% |
| Taxes450/3 | - | - | - | €0.01m | €0.02m | €0.03m | €0.03m | €0.03m | ▼ 8.3% |
| Other amounts payable47/48 | - | - | - | €0.7m | €0.7m | €0.6m | €0.6m | €0.6m | ▼ 3.0% |
| Accrued charges and deferred income492/3 | - | - | - | €0.001m | €0.001m | €0.01m | €0.02m | €0.01m | ▼ 32.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €38,121 | €67,520 | -€13,472 | €52,455 | €36,649 | €38,532 | €44,913 | €8,282 | ▼ 81.6% |
| + Depreciation and write-downs630 | €35,600 | €35,168 | €33,954 | €34,310 | €26,211 | €28,594 | €29,206 | €29,028 | ▼ 0.6% |
| Operating cash flow (approximation) | €73,721 | €102,688 | €20,482 | €86,765 | €62,860 | €67,126 | €74,118 | €37,310 | ▼ 49.7% |
| Investment in fixed assets (approximation) | - | -€7,735 | -€3,915 | -€4,858 | -€12,313 | -€34,753 | -€10,434 | -€849 | ▲ 91.9% |
| Change in cash | - | €1,373 | -€26,996 | €6,604 | €3,575 | €37 | €2,942 | -€12,492 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 4,107 companies had the same profile as IETSINDEMEDIA has now. Two years later, 98.0% were still going and 1.0% had gone bankrupt.
- Small
- 10 to 20 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
98.0%
was still going
0.9%
stopped otherwise
1.0%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of IETSINDEMEDIA itself: 0.6% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 4,107 companies, not a prediction for IETSINDEMEDIA. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 19 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 03-08-2026 | 2026-00374048 | |
| 31-12-2024 | micro format | 04-08-2025 | 2025-00354677 | |
| 31-12-2023 | micro format | 10-09-2024 | 2024-00457849 | |
| 31-12-2022 | micro format | 28-06-2023 | 2023-00167959 | |
| 31-12-2021 | micro format | 24-06-2022 | 2022-20088958 | |
| 31-12-2020 | micro format | 30-06-2021 | 2021-30100460 | |
| 31-12-2019 | micro format | 15-06-2020 | 2020-16600110 | |
| 31-12-2018 | abbreviated format | 28-06-2019 | 2019-26200294 | |
| 31-12-2017 | micro format | 28-09-2018 | 2018-66900366 | |
| 31-12-2016 | micro format | 31-08-2017 | 2017-56600122 |