AMADEUS: what changed
Two financial 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.
What changed
AMADEUS
NACE 73.110, Advertising agencies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€531,330
2024 · -€276,652-€254,678
Equity
-€551,872
2024 · -€20,542-€531,330
Cash
€114,351
2024 · €92,772+€21,579
Balance sheet total
€11.9m
2024 · €12.5m-€663,650
Largest movements
Assets
- Tangible fixed assets -€669,005
down €669,005 (-5.5%), from €12.2m to €11.6m
of which Land and buildings: -€603,826
Equity and liabilities
- Profit (loss) carried forward -€531,330
down €531,330 (-15.8%), from -€3.4m to -€3.9m
- Debts after one year -€292,072
down €292,072 (-2.4%), from €12.2m to €11.9m
- Trade debts +€140,711
up €140,711 (+776%), from €18,143 to €158,855
Income statement
- Gross operating margin -€317,469
down €317,469 (-40.0%), from €793,851 to €476,382
- Depreciation -€46,852
down €46,852 (-6.5%), from €719,629 to €672,778
- Staff costs -€45,265
down €45,265 (-80.5%), from €56,245 to €10,980
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.
Result 2024
-€276,652
Gross operating margin
-€317,469
Staff costs
+€45,265
Depreciation
+€46,852
Other operating charges
-€5,515
Financial income
+€544
Financial charges
+€3,408
Taxes
+€193
Deferred taxes and other
-€27,955
Result 2025
-€531,330
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
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.
From operations
+€367,742
Investment
-€3,772
Financing
-€342,391
Cash 2024
€92,772
From operations (derived)
+€367,742
Net result for the year
-€531,330
Depreciation
+€672,778
Receivables within one year
-€6,128
Deferred charges and accrued income
+€22,352
Trade debts
+€140,711
Tax, wage and social debts
+€9,883
Other debts
+€59,101
Accrued charges and deferred income
+€375
Investment (derived)
-€3,772
Investment in fixed assets (net)
-€3,772
Financing
-€342,391
Debts after one year
-€292,072
Current portion of long-term debt
-€50,318
Cash 2025
€114,351
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,520,269 | €11,856,619 | -€663,650 | -5.3% |
| Fixed assets | 21/28 | €12,236,535 | €11,567,530 | -€669,005 | -5.5% |
| Tangible fixed assets | 22/27 | €12,236,535 | €11,567,530 | -€669,005 | -5.5% |
| Land and buildings | 22 | €12,106,741 | €11,502,915 | -€603,826 | -5.0% |
| Plant, machinery and equipment | 23 | €53,325 | €44,069 | -€9,256 | -17.4% |
| Furniture and vehicles | 24 | €76,469 | €20,546 | -€55,923 | -73.1% |
| Current assets | 29/58 | €283,734 | €289,089 | +€5,355 | +1.9% |
| Amounts receivable within one year | 40/41 | €148,707 | €154,835 | +€6,128 | +4.1% |
| Trade receivables | 40 | €148,695 | €55,602 | -€93,093 | -62.6% |
| Other amounts receivable | 41 | €12 | €99,233 | +€99,221 | +858,317% |
| Cash at bank and in hand | 54/58 | €92,772 | €114,351 | +€21,579 | +23.3% |
| Deferred charges and accrued income | 490/1 | €42,256 | €19,904 | -€22,352 | -52.9% |
| Total equity and liabilities | 10/49 | €12,520,269 | €11,856,619 | -€663,650 | -5.3% |
| Equity | 10/15 | -€20,542 | -€551,872 | -€531,330 | -2,587% |
| Contributions | 10/11 | €3,350,000 | €3,350,000 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€3,372,402 | -€3,903,731 | -€531,330 | -15.8% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Deferred taxes | 168 | €0 | - | = | |
| Amounts payable | 17/49 | €12,540,812 | €12,408,492 | -€132,320 | -1.1% |
| Amounts payable after more than one year | 17 | €12,198,668 | €11,906,596 | -€292,072 | -2.4% |
| Financial debts | 170/4 | €12,198,668 | €11,906,596 | -€292,072 | -2.4% |
| Amounts payable within one year | 42/48 | €307,225 | €466,602 | +€159,377 | +51.9% |
| Current portion of amounts payable after more than one year | 42 | €247,704 | €197,386 | -€50,318 | -20.3% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €18,143 | €158,855 | +€140,711 | +776% |
| Suppliers | 440/4 | €18,143 | €158,855 | +€140,711 | +776% |
| Taxes, remuneration and social security | 45 | €14,010 | €23,894 | +€9,883 | +70.5% |
| Taxes | 450/3 | €6,880 | €23,894 | +€17,013 | +247% |
| Remuneration and social security | 454/9 | €7,130 | €0 | -€7,130 | -100% |
| Other amounts payable | 47/48 | €27,367 | €86,468 | +€59,101 | +216% |
| Accrued charges and deferred income | 492/3 | €34,919 | €35,294 | +€375 | +1.1% |
| Non-recurring operating income | 76A | €0 | €117,305 | +€117,305 | |
| Remuneration, social security and pensions | 62 | €56,245 | €10,980 | -€45,265 | -80.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €719,629 | €672,778 | -€46,852 | -6.5% |
| Other operating charges | 640/8 | €77,262 | €82,777 | +€5,515 | +7.1% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €793,851 | €476,382 | -€317,469 | -40.0% |
| Operating profit (loss) | 9901 | -€59,285 | -€290,153 | -€230,867 | -389% |
| Financial income | 75/76B | €39 | €583 | +€544 | +1,385% |
| Recurring financial income | 75 | €39 | €583 | +€544 | +1,385% |
| Financial charges | 65/66B | €244,150 | €240,742 | -€3,408 | -1.4% |
| Recurring financial charges | 65 | €244,150 | €240,742 | -€3,408 | -1.4% |
| Profit (loss) for the period before taxes | 9903 | -€303,396 | -€530,312 | -€226,916 | -74.8% |
| Transfer from deferred taxes | 780 | €27,955 | €0 | -€27,955 | -100% |
| Income taxes | 67/77 | €1,210 | €1,018 | -€193 | -15.9% |
| Profit (loss) for the period | 9904 | -€276,652 | -€531,330 | -€254,678 | -92.1% |
| Transfer from tax-exempt reserves | 789 | €83,864 | €0 | -€83,864 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | -€192,787 | -€531,330 | -€338,542 | -176% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.