& Associés: what changed
What changed
& Associés
NACE 73.110, Advertising agencies
filed annual accounts (NBB)
Net result for the year
€10,940
2024 · €3,132+€7,809
Equity
€41,130
2024 · €31,049+€10,081
Cash
€5,909
2024 · €5,212+€696
Balance sheet total
€120,663
2024 · €74,706+€45,957
Largest movements
Assets
- Tangible fixed assets +€48,076
up €48,076 (+294%), from €16,343 to €64,419
of which Leasing and similar rights: +€47,072
- Receivables within one year -€1,823
down €1,823 (-3.9%), from €46,955 to €45,132
of which Trade receivables: -€2,691
Equity and liabilities
- Debts after one year +€33,775
up €33,775 (+330%), from €10,231 to €44,006
- Profit (loss) carried forward +€10,081
up €10,081 (+46.1%), from €21,850 to €31,931
- Current portion of long-term debt +€6,098
up €6,098 (+73.7%), from €8,269 to €14,367
- Trade debts -€5,842
down €5,842 (-37.4%), from €15,604 to €9,762
- Tax, wage and social debts +€1,699
up €1,699 (+18.9%), from €8,970 to €10,669
of which Taxes: +€3,575
Income statement
- Gross operating margin +€13,245
up €13,245 (+148%), from €8,964 to €22,209
- Taxes +€2,724
up €2,724 (+104%), from €2,629 to €5,353
- Other operating charges +€1,780
up €1,780 (+160%), from €1,109 to €2,889
- Financial charges +€860
up €860 (+754%), from €114 to €975
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€3,132
Gross operating margin
+€13,245
Depreciation
-€72
Other operating charges
-€1,780
Financial income
+€0
Financial charges
-€860
Taxes
-€2,724
Result 2025
€10,940
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€11,810
Investment
-€50,129
Financing
+€39,014
Cash 2024
€5,212
From operations (derived)
+€11,810
Net result for the year
+€10,940
Depreciation
+€2,053
Receivables within one year
+€1,823
Deferred charges and accrued income
+€992
Trade debts
-€5,842
Tax, wage and social debts
+€1,699
Other debts
+€146
Investment (derived)
-€50,129
Investment in fixed assets (net)
-€50,129
Financing
+€39,014
Debts after one year
+€33,775
Current portion of long-term debt
+€6,098
Contributions, distributions and other
-€859
Cash 2025
€5,909
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €74,706 | €120,663 | +€45,957 | +61.5% |
| Fixed assets | 21/28 | €20,541 | €68,617 | +€48,076 | +234% |
| Tangible fixed assets | 22/27 | €16,343 | €64,419 | +€48,076 | +294% |
| Land and buildings | 22 | €1,573 | €1,318 | -€255 | -16.2% |
| Plant, machinery and equipment | 23 | - | €1,964 | +€1,964 | |
| Furniture and vehicles | 24 | €1,099 | €394 | -€705 | -64.2% |
| Leasing and similar rights | 25 | €1,225 | €48,296 | +€47,072 | +3,844% |
| Other tangible fixed assets | 26 | €12,447 | €12,447 | = | 0.0% |
| Financial fixed assets | 28 | €4,198 | €4,198 | = | 0.0% |
| Current assets | 29/58 | €54,165 | €52,046 | -€2,119 | -3.9% |
| Amounts receivable within one year | 40/41 | €46,955 | €45,132 | -€1,823 | -3.9% |
| Trade receivables | 40 | €17,251 | €14,560 | -€2,691 | -15.6% |
| Other amounts receivable | 41 | €29,704 | €30,572 | +€868 | +2.9% |
| Cash at bank and in hand | 54/58 | €5,212 | €5,909 | +€696 | +13.4% |
| Deferred charges and accrued income | 490/1 | €1,997 | €1,005 | -€992 | -49.7% |
| Total equity and liabilities | 10/49 | €74,706 | €120,663 | +€45,957 | +61.5% |
| Equity | 10/15 | €31,049 | €41,130 | +€10,081 | +32.5% |
| Contributions | 10/11 | €6,500 | €6,500 | = | 0.0% |
| Reserves | 13 | €2,699 | €2,699 | = | 0.0% |
| Tax-exempt reserves | 132 | €839 | €839 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,850 | €31,931 | +€10,081 | +46.1% |
| Amounts payable | 17/49 | €43,657 | €79,533 | +€35,875 | +82.2% |
| Amounts payable after more than one year | 17 | €10,231 | €44,006 | +€33,775 | +330% |
| Financial debts | 170/4 | €10,231 | €44,006 | +€33,775 | +330% |
| Amounts payable within one year | 42/48 | €33,427 | €35,527 | +€2,100 | +6.3% |
| Current portion of amounts payable after more than one year | 42 | €8,269 | €14,367 | +€6,098 | +73.7% |
| Trade debts | 44 | €15,604 | €9,762 | -€5,842 | -37.4% |
| Suppliers | 440/4 | €15,604 | €9,762 | -€5,842 | -37.4% |
| Taxes, remuneration and social security | 45 | €8,970 | €10,669 | +€1,699 | +18.9% |
| Taxes | 450/3 | €5,670 | €9,245 | +€3,575 | +63.0% |
| Remuneration and social security | 454/9 | €3,300 | €1,424 | -€1,876 | -56.9% |
| Other amounts payable | 47/48 | €583 | €729 | +€146 | +25.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,981 | €2,053 | +€72 | +3.6% |
| Other operating charges | 640/8 | €1,109 | €2,889 | +€1,780 | +160% |
| Gross operating margin | 9900 | €8,964 | €22,209 | +€13,245 | +148% |
| Operating profit (loss) | 9901 | €5,874 | €17,267 | +€11,393 | +194% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €114 | €975 | +€860 | +754% |
| Recurring financial charges | 65 | €114 | €975 | +€860 | +754% |
| Profit (loss) for the period before taxes | 9903 | €5,760 | €16,293 | +€10,533 | +183% |
| Income taxes | 67/77 | €2,629 | €5,353 | +€2,724 | +104% |
| Profit (loss) for the period | 9904 | €3,132 | €10,940 | +€7,809 | +249% |
| Profit (loss) for the period to be appropriated | 9905 | €3,132 | €10,940 | +€7,809 | +249% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.