ADVERTAINMENT: 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.
ADVERTAINMENT
Largest movements
- Tangible fixed assets -€55,733
down €55,733 (-7.1%), from €785,256 to €729,524
of which Land and buildings: -€52,411
- Receivables within one year -€22,333
down €22,333 (-95.9%), from €23,285 to €952
of which Trade receivables: -€22,333
- Tax, wage and social debts -€24,889
down €24,889 (-42.9%), from €57,998 to €33,109
- Debts after one year -€22,236
down €22,236 (-22.5%), from €98,988 to €76,751
- Current portion of long-term debt -€12,765
down €12,765 (-36.5%), from €35,002 to €22,236
- Other debts -€11,108
down €11,108 (-2.7%), from €410,332 to €399,224
- Gross operating margin -€99,330
down €99,330 (-62.6%), from €158,586 to €59,256
- Taxes -€28,243
down €28,243 (-96.2%), from €29,366 to €1,123
- Depreciation -€14,256
down €14,256 (-20.4%), from €69,988 to €55,733
- Financial charges -€2,786
down €2,786 (-31.6%), from €8,829 to €6,043
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 | €1,036,386 | €958,208 | -€78,177 | -7.5% |
| Fixed assets | 21/28 | €785,437 | €729,704 | -€55,733 | -7.1% |
| Tangible fixed assets | 22/27 | €785,256 | €729,524 | -€55,733 | -7.1% |
| Land and buildings | 22 | €775,314 | €722,904 | -€52,411 | -6.8% |
| Furniture and vehicles | 24 | €6,856 | €4,397 | -€2,458 | -35.9% |
| Other tangible fixed assets | 26 | €3,086 | €2,222 | -€864 | -28.0% |
| Financial fixed assets | 28 | €181 | €181 | = | 0.0% |
| Current assets | 29/58 | €250,949 | €228,504 | -€22,445 | -8.9% |
| Amounts receivable after more than one year | 29 | €135,000 | €135,000 | = | 0.0% |
| Other amounts receivable | 291 | €135,000 | €135,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €5,000 | €0 | -€5,000 | -100.0% |
| Stocks | 30/36 | €5,000 | €0 | -€5,000 | -100.0% |
| Amounts receivable within one year | 40/41 | €23,285 | €952 | -€22,333 | -95.9% |
| Trade receivables | 40 | €23,285 | €952 | -€22,333 | -95.9% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €72,733 | €75,092 | +€2,359 | +3.2% |
| Deferred charges and accrued income | 490/1 | €14,930 | €17,460 | +€2,529 | +16.9% |
| Total equity and liabilities | 10/49 | €1,036,386 | €958,208 | -€78,177 | -7.5% |
| Equity | 10/15 | €412,455 | €407,714 | -€4,740 | -1.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €406,255 | €401,514 | -€4,740 | -1.2% |
| Tax-exempt reserves | 132 | €66,862 | €60,236 | -€6,626 | -9.9% |
| Distributable reserves | 133 | €339,393 | €341,279 | +€1,886 | +0.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €14,909 | €13,252 | -€1,657 | -11.1% |
| Deferred taxes | 168 | €14,909 | €13,252 | -€1,657 | -11.1% |
| Amounts payable | 17/49 | €609,022 | €537,241 | -€71,780 | -11.8% |
| Amounts payable after more than one year | 17 | €98,988 | €76,751 | -€22,236 | -22.5% |
| Financial debts | 170/4 | €98,988 | €76,751 | -€22,236 | -22.5% |
| Amounts payable within one year | 42/48 | €508,284 | €458,740 | -€49,544 | -9.7% |
| Current portion of amounts payable after more than one year | 42 | €35,002 | €22,236 | -€12,765 | -36.5% |
| Trade debts | 44 | €4,952 | €4,171 | -€782 | -15.8% |
| Suppliers | 440/4 | €4,952 | €4,171 | -€782 | -15.8% |
| Taxes, remuneration and social security | 45 | €57,998 | €33,109 | -€24,889 | -42.9% |
| Taxes | 450/3 | €57,998 | €33,109 | -€24,889 | -42.9% |
| Other amounts payable | 47/48 | €410,332 | €399,224 | -€11,108 | -2.7% |
| Accrued charges and deferred income | 492/3 | €1,750 | €1,750 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,988 | €55,733 | -€14,256 | -20.4% |
| Other operating charges | 640/8 | €3,580 | €4,382 | +€802 | +22.4% |
| Gross operating margin | 9900 | €158,586 | €59,256 | -€99,330 | -62.6% |
| Operating profit (loss) | 9901 | €85,017 | -€859 | -€85,876 | |
| Financial income | 75/76B | €3,294 | €3,294 | = | 0.0% |
| Recurring financial income | 75 | €3,294 | €3,294 | = | 0.0% |
| Financial charges | 65/66B | €8,829 | €6,043 | -€2,786 | -31.6% |
| Recurring financial charges | 65 | €8,829 | €6,043 | -€2,786 | -31.6% |
| Profit (loss) for the period before taxes | 9903 | €79,482 | -€3,608 | -€83,090 | |
| Transfer from deferred taxes | 780 | €1,657 | €1,657 | = | 0.0% |
| Income taxes | 67/77 | €29,366 | €1,123 | -€28,243 | -96.2% |
| Profit (loss) for the period | 9904 | €51,773 | -€3,074 | -€54,847 | |
| Transfer from tax-exempt reserves | 789 | €6,626 | €6,626 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €58,399 | €3,552 | -€54,847 | -93.9% |
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 7 October 2026 via checked.be.