ACTIVE AUDIO: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
ACTIVE AUDIO
Largest movements
- Tangible fixed assets +€50,373
up €50,373 (+16.0%), from €314,752 to €365,124
of which Land and buildings: +€50,548
- Cash -€27,166
down €27,166 (-16.5%), from €164,870 to €137,704
mainly Investment in fixed assets (net) (-€120,788) and Contributions, distributions and other (-€102,000)
- Receivables within one year -€21,192
down €21,192 (-16.3%), from €129,981 to €108,790
of which Trade receivables: -€18,845
- Other debts +€99,623
up €99,623 (+64.0%), from €155,700 to €255,323
- Reserves -€77,000
down €77,000 (-36.8%), from €209,500 to €132,500
of which Distributable reserves: -€77,000
- Debts after one year -€18,685
down €18,685 (-9.3%), from €200,352 to €181,667
- Gross operating margin -€60,372
down €60,372 (-21.5%), from €281,350 to €220,977
- Taxes -€28,867
down €28,867 (-73.1%), from €39,487 to €10,620
- Staff costs +€13,938
up €13,938 (+15.9%), from €87,773 to €101,711
- Depreciation +€6,420
up €6,420 (+10.0%), from €63,995 to €70,415
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €718,834 | €725,599 | +€6,765 | +0.9% |
| Fixed assets | 21/28 | €316,027 | €366,400 | +€50,373 | +15.9% |
| Tangible fixed assets | 22/27 | €314,752 | €365,124 | +€50,373 | +16.0% |
| Land and buildings | 22 | €236,805 | €287,353 | +€50,548 | +21.3% |
| Plant, machinery and equipment | 23 | €21,545 | €39,528 | +€17,984 | +83.5% |
| Furniture and vehicles | 24 | €46,696 | €31,544 | -€15,152 | -32.4% |
| Leasing and similar rights | 25 | €9,706 | €6,699 | -€3,007 | -31.0% |
| Financial fixed assets | 28 | €1,276 | €1,276 | = | 0.0% |
| Current assets | 29/58 | €402,807 | €359,199 | -€43,607 | -10.8% |
| Stocks and contracts in progress | 3 | €105,955 | €101,623 | -€4,331 | -4.1% |
| Stocks | 30/36 | €105,955 | €101,623 | -€4,331 | -4.1% |
| Amounts receivable within one year | 40/41 | €129,981 | €108,790 | -€21,192 | -16.3% |
| Trade receivables | 40 | €50,267 | €31,422 | -€18,845 | -37.5% |
| Other amounts receivable | 41 | €79,714 | €77,368 | -€2,347 | -2.9% |
| Current investments | 50/53 | €2,000 | €6,500 | +€4,500 | +225.0% |
| Cash at bank and in hand | 54/58 | €164,870 | €137,704 | -€27,166 | -16.5% |
| Deferred charges and accrued income | 490/1 | - | €4,582 | +€4,582 | |
| Total equity and liabilities | 10/49 | €718,834 | €725,599 | +€6,765 | +0.9% |
| Equity | 10/15 | €285,863 | €208,934 | -€76,928 | -26.9% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Capital | 10 | €75,000 | €75,000 | = | 0.0% |
| Issued capital | 100 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €209,500 | €132,500 | -€77,000 | -36.8% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Legal reserve | 130 | €7,500 | €7,500 | = | 0.0% |
| Distributable reserves | 133 | €202,000 | €125,000 | -€77,000 | -38.1% |
| Profit (loss) carried forward | 14 | €1,363 | €1,434 | +€72 | +5.3% |
| Amounts payable | 17/49 | €432,971 | €516,665 | +€83,694 | +19.3% |
| Amounts payable after more than one year | 17 | €200,352 | €181,667 | -€18,685 | -9.3% |
| Financial debts | 170/4 | €200,352 | €181,667 | -€18,685 | -9.3% |
| Amounts payable within one year | 42/48 | €232,619 | €334,998 | +€102,379 | +44.0% |
| Current portion of amounts payable after more than one year | 42 | €22,895 | €20,543 | -€2,353 | -10.3% |
| Trade debts | 44 | €2,571 | €4,603 | +€2,032 | +79.0% |
| Suppliers | 440/4 | €2,571 | €4,603 | +€2,032 | +79.0% |
| Advances received on contracts in progress | 46 | €1,177 | €1,215 | +€37 | +3.2% |
| Taxes, remuneration and social security | 45 | €50,276 | €53,315 | +€3,039 | +6.0% |
| Taxes | 450/3 | €38,242 | €41,558 | +€3,316 | +8.7% |
| Remuneration and social security | 454/9 | €12,033 | €11,757 | -€277 | -2.3% |
| Other amounts payable | 47/48 | €155,700 | €255,323 | +€99,623 | +64.0% |
| Non-recurring operating income | 76A | - | €2,740 | +€2,740 | |
| Remuneration, social security and pensions | 62 | €87,773 | €101,711 | +€13,938 | +15.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,995 | €70,415 | +€6,420 | +10.0% |
| Gross operating margin | 9900 | €281,350 | €220,977 | -€60,372 | -21.5% |
| Operating profit (loss) | 9901 | €129,581 | €48,851 | -€80,730 | -62.3% |
| Financial income | 75/76B | €655 | €1,355 | +€700 | +106.9% |
| Recurring financial income | 75 | €375 | €1,202 | +€827 | +220.5% |
| Non-recurring financial income | 76B | €280 | €154 | -€126 | -45.1% |
| Financial charges | 65/66B | €15,159 | €14,515 | -€644 | -4.2% |
| Recurring financial charges | 65 | €15,124 | €14,515 | -€609 | -4.0% |
| Non-recurring financial charges | 66B | €35 | - | -€35 | |
| Profit (loss) for the period before taxes | 9903 | €115,077 | €35,691 | -€79,386 | -69.0% |
| Income taxes | 67/77 | €39,487 | €10,620 | -€28,867 | -73.1% |
| Profit (loss) for the period | 9904 | €75,590 | €25,072 | -€50,519 | -66.8% |
| Profit (loss) for the period to be appropriated | 9905 | €75,590 | €25,072 | -€50,519 | -66.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.