ANDRE POSEL: 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.
What changed
ANDRE POSEL
NACE 58.130, Publishing activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€16,674
2024 · -€46,253+€29,579
Equity
€43,688
2024 · €60,362-€16,674
Cash
€44,352
2024 · €59,875-€15,523
Balance sheet total
€85,653
2024 · €115,382-€29,729
Largest movements
Assets
- Cash -€15,523
down €15,523 (-25.9%), from €59,875 to €44,352
mainly Trade debts (-€24,144) and Net result for the year (-€16,674)
- Receivables within one year -€11,165
down €11,165 (-23.2%), from €48,076 to €36,911
of which Trade receivables: -€11,127
- Stocks and contracts -€3,272
down €3,272 (-53.7%), from €6,091 to €2,818
of which Stocks: -€3,272
- Deferred charges and accrued income +€1,213
up €1,213 (+953.7%), from €127 to €1,340
Equity and liabilities
- Trade debts -€24,144
down €24,144 (-71.4%), from €33,816 to €9,672
of which Suppliers: -€24,144
- Profit (loss) carried forward -€16,674
down €16,674, from €15,143 to -€1,531
- Tax, wage and social debts +€7,305
up €7,305 (+48.4%), from €15,106 to €22,411
of which Taxes: +€6,483
- Other debts +€3,823
up €3,823 (+63.1%), from €6,061 to €9,883
Income statement
- Staff costs -€32,523
down €32,523 (-69.0%), from €47,111 to €14,589
- Gross operating margin -€2,684
down €2,684, from €2,120 to -€564
- Other operating charges +€244
up €244 (+92.9%), from €263 to €507
- Depreciation -€121
down €121 (-11.0%), from €1,101 to €980
- Financial income -€116
down €116 (-49.7%), from €234 to €118
of which Financial income: -€116
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
-€46,253
Gross operating margin
-€2,684
Staff costs
+€32,523
Depreciation
+€121
Other operating charges
-€244
Financial income
-€116
Financial charges
-€21
Result 2025
-€16,674
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.
From operations
-€15,523
Investment
€0
Financing
€0
Cash 2024
€59,875
From operations (derived)
-€15,523
Net result for the year
-€16,674
Depreciation
+€980
Stocks and contracts
+€3,272
Receivables within one year
+€11,165
Deferred charges and accrued income
-€1,213
Trade debts
-€24,144
Tax, wage and social debts
+€7,305
Other debts
+€3,823
Accrued charges and deferred income
-€38
Cash 2025
€44,352
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €115,382 | €85,653 | -€29,729 | -25.8% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €1,213 | €232 | -€980 | -80.8% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €1,213 | €232 | -€980 | -80.8% |
| Land and buildings | 22 | - | €0 | = | |
| Plant, machinery and equipment | 23 | €419 | €0 | -€419 | -100.0% |
| Furniture and vehicles | 24 | €794 | €232 | -€562 | -70.7% |
| Leasing and similar rights | 25 | - | €0 | = | |
| Other tangible fixed assets | 26 | - | €0 | = | |
| Assets under construction and advance payments | 27 | - | €0 | = | |
| Financial fixed assets | 28 | - | €0 | = | |
| Current assets | 29/58 | €114,169 | €85,421 | -€28,749 | -25.2% |
| Amounts receivable after more than one year | 29 | - | €0 | = | |
| Trade receivables | 290 | - | €0 | = | |
| Other amounts receivable | 291 | - | €0 | = | |
| Stocks and contracts in progress | 3 | €6,091 | €2,818 | -€3,272 | -53.7% |
| Stocks | 30/36 | €6,091 | €2,818 | -€3,272 | -53.7% |
| Contracts in progress | 37 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | €48,076 | €36,911 | -€11,165 | -23.2% |
| Trade receivables | 40 | €48,019 | €36,892 | -€11,127 | -23.2% |
| Other amounts receivable | 41 | €57 | €19 | -€38 | -66.7% |
| Current investments | 50/53 | - | €0 | = | |
| Cash at bank and in hand | 54/58 | €59,875 | €44,352 | -€15,523 | -25.9% |
| Deferred charges and accrued income | 490/1 | €127 | €1,340 | +€1,213 | +953.7% |
| Total equity and liabilities | 10/49 | €115,382 | €85,653 | -€29,729 | -25.8% |
| Equity | 10/15 | €60,362 | €43,688 | -€16,674 | -27.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Revaluation surpluses | 12 | - | €0 | = | |
| Reserves | 13 | €26,626 | €26,626 | = | 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 | €24,767 | €24,767 | = | 0.0% |
| Distributable reserves | 133 | - | €0 | = | |
| Profit (loss) carried forward | 14 | €15,143 | -€1,531 | -€16,674 | |
| Investment grants | 15 | - | €0 | = | |
| Provisions and deferred taxes | 16 | - | €0 | = | |
| Provisions for liabilities and charges | 160/5 | - | €0 | = | |
| Pensions and similar obligations | 160 | - | €0 | = | |
| Taxes | 161 | - | €0 | = | |
| Major repairs and maintenance | 162 | - | €0 | = | |
| Environmental obligations | 163 | - | €0 | = | |
| Other liabilities and charges | 164/5 | - | €0 | = | |
| Deferred taxes | 168 | - | €0 | = | |
| Amounts payable | 17/49 | €55,020 | €41,966 | -€13,055 | -23.7% |
| Amounts payable after more than one year | 17 | - | €0 | = | |
| Financial debts | 170/4 | - | €0 | = | |
| Trade debts | 175 | - | €0 | = | |
| Other amounts payable | 178/9 | - | €0 | = | |
| Amounts payable within one year | 42/48 | €54,982 | €41,966 | -€13,017 | -23.7% |
| Current portion of amounts payable after more than one year | 42 | - | €0 | = | |
| Financial debts | 43 | - | €0 | = | |
| Credit institutions | 430/8 | - | €0 | = | |
| Trade debts | 44 | €33,816 | €9,672 | -€24,144 | -71.4% |
| Suppliers | 440/4 | €33,816 | €9,672 | -€24,144 | -71.4% |
| Bills of exchange payable | 441 | - | €0 | = | |
| Advances received on contracts in progress | 46 | - | €0 | = | |
| Taxes, remuneration and social security | 45 | €15,106 | €22,411 | +€7,305 | +48.4% |
| Taxes | 450/3 | €1,048 | €7,531 | +€6,483 | +618.6% |
| Remuneration and social security | 454/9 | €14,058 | €14,879 | +€822 | +5.8% |
| Other amounts payable | 47/48 | €6,061 | €9,883 | +€3,823 | +63.1% |
| Accrued charges and deferred income | 492/3 | €38 | €0 | -€38 | -100.0% |
| Non-recurring operating income | 76A | - | €0 | = | |
| Remuneration, social security and pensions | 62 | €47,111 | €14,589 | -€32,523 | -69.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,101 | €980 | -€121 | -11.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €0 | = | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €0 | = | |
| Other operating charges | 640/8 | €263 | €507 | +€244 | +92.9% |
| Operating charges capitalised as restructuring costs | 649 | - | €0 | = | |
| Non-recurring operating charges | 66A | - | €0 | = | |
| Gross operating margin | 9900 | €2,120 | -€564 | -€2,684 | |
| Operating profit (loss) | 9901 | -€46,355 | -€16,640 | +€29,716 | +64.1% |
| Financial income | 75/76B | €234 | €118 | -€116 | -49.7% |
| Recurring financial income | 75 | €234 | €118 | -€116 | -49.7% |
| Non-recurring financial income | 76B | - | €0 | = | |
| Financial charges | 65/66B | €131 | €152 | +€21 | +15.8% |
| Recurring financial charges | 65 | €131 | €152 | +€21 | +15.8% |
| Non-recurring financial charges | 66B | - | €0 | = | |
| Profit (loss) for the period before taxes | 9903 | -€46,253 | -€16,674 | +€29,579 | +64.0% |
| Transfer from deferred taxes | 780 | - | €0 | = | |
| Transfer to deferred taxes | 680 | - | €0 | = | |
| Income taxes | 67/77 | - | €0 | = | |
| Profit (loss) for the period | 9904 | -€46,253 | -€16,674 | +€29,579 | +64.0% |
| Transfer from tax-exempt reserves | 789 | - | €0 | = | |
| Transfer to tax-exempt reserves | 689 | - | €0 | = | |
| Profit (loss) for the period to be appropriated | 9905 | -€46,253 | -€16,674 | +€29,579 | +64.0% |
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 3 October 2026 via checked.be.