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.
AUDIO+
Largest movements
- Cash -€149,983
down €149,983 (-72.7%), from €206,291 to €56,308
mainly Investment in fixed assets (net) (-€688,689) and Receivables within one year (-€108,911)
- Receivables within one year +€108,911
up €108,911 (+48.0%), from €226,978 to €335,889
of which Trade receivables: +€130,873
- Current portion of long-term debt -€62,009
down €62,009 (-43.1%), from €143,821 to €81,813
- Reserves -€52,628
down €52,628 (-7.9%), from €668,585 to €615,957
of which Tax-exempt reserves: -€52,628
- Debts after one year +€39,219
up €39,219 (+44.1%), from €88,914 to €128,133
- Trade debts +€33,442
up €33,442 (+21.5%), from €155,328 to €188,770
- Profit (loss) carried forward +€33,305
up €33,305 (+58.4%), from €57,045 to €90,350
- Staff costs +€126,016
up €126,016 (+24.2%), from €520,062 to €646,078
- Depreciation +€100,327
up €100,327 (+16.8%), from €596,945 to €697,272
- Taxes -€22,684
down €22,684 (-68.4%), from €33,142 to €10,458
- Gross operating margin -€18,491
down €18,491 (-1.4%), from €1.4m to €1.3m
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 | €1,543,329 | €1,489,777 | -€53,552 | -3.5% |
| Fixed assets | 21/28 | €1,075,772 | €1,067,189 | -€8,583 | -0.8% |
| Intangible fixed assets | 21 | €4,967 | €2,011 | -€2,956 | -59.5% |
| Tangible fixed assets | 22/27 | €1,070,535 | €1,064,908 | -€5,627 | -0.5% |
| Plant, machinery and equipment | 23 | €856,741 | €799,174 | -€57,567 | -6.7% |
| Furniture and vehicles | 24 | €111,952 | €181,886 | +€69,934 | +62.5% |
| Other tangible fixed assets | 26 | €101,842 | €83,848 | -€17,993 | -17.7% |
| Financial fixed assets | 28 | €270 | €270 | = | 0.0% |
| Current assets | 29/58 | €467,557 | €422,588 | -€44,969 | -9.6% |
| Stocks and contracts in progress | 3 | €11,789 | €6,217 | -€5,572 | -47.3% |
| Stocks | 30/36 | €11,789 | €6,217 | -€5,572 | -47.3% |
| Amounts receivable within one year | 40/41 | €226,978 | €335,889 | +€108,911 | +48.0% |
| Trade receivables | 40 | €186,918 | €317,791 | +€130,873 | +70.0% |
| Other amounts receivable | 41 | €40,060 | €18,097 | -€21,962 | -54.8% |
| Cash at bank and in hand | 54/58 | €206,291 | €56,308 | -€149,983 | -72.7% |
| Deferred charges and accrued income | 490/1 | €22,500 | €24,174 | +€1,675 | +7.4% |
| Total equity and liabilities | 10/49 | €1,543,329 | €1,489,777 | -€53,552 | -3.5% |
| Equity | 10/15 | €744,229 | €724,907 | -€19,323 | -2.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €668,585 | €615,957 | -€52,628 | -7.9% |
| Tax-exempt reserves | 132 | €266,725 | €214,097 | -€52,628 | -19.7% |
| Distributable reserves | 133 | €401,860 | €401,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €57,045 | €90,350 | +€33,305 | +58.4% |
| Provisions and deferred taxes | 16 | €44,196 | €30,883 | -€13,313 | -30.1% |
| Deferred taxes | 168 | €44,196 | €30,883 | -€13,313 | -30.1% |
| Amounts payable | 17/49 | €754,904 | €733,987 | -€20,917 | -2.8% |
| Amounts payable after more than one year | 17 | €88,914 | €128,133 | +€39,219 | +44.1% |
| Financial debts | 170/4 | €88,914 | €128,133 | +€39,219 | +44.1% |
| Amounts payable within one year | 42/48 | €665,990 | €605,854 | -€60,136 | -9.0% |
| Current portion of amounts payable after more than one year | 42 | €143,821 | €81,813 | -€62,009 | -43.1% |
| Trade debts | 44 | €155,328 | €188,770 | +€33,442 | +21.5% |
| Suppliers | 440/4 | €155,328 | €188,770 | +€33,442 | +21.5% |
| Taxes, remuneration and social security | 45 | €104,011 | €103,923 | -€88 | -0.1% |
| Taxes | 450/3 | €20,359 | €35,792 | +€15,433 | +75.8% |
| Remuneration and social security | 454/9 | €83,652 | €68,131 | -€15,521 | -18.6% |
| Other amounts payable | 47/48 | €262,830 | €231,349 | -€31,480 | -12.0% |
| Remuneration, social security and pensions | 62 | €520,062 | €646,078 | +€126,016 | +24.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €596,945 | €697,272 | +€100,327 | +16.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €11,673 | €1,673 | -€10,000 | -85.7% |
| Other operating charges | 640/8 | €17,788 | €7,208 | -€10,581 | -59.5% |
| Gross operating margin | 9900 | €1,367,081 | €1,348,589 | -€18,491 | -1.4% |
| Operating profit (loss) | 9901 | €220,612 | -€3,641 | -€224,253 | |
| Financial income | 75/76B | €648 | €2,617 | +€1,969 | +303.8% |
| Recurring financial income | 75 | €648 | €2,617 | +€1,969 | +303.8% |
| Financial charges | 65/66B | €24,561 | €20,319 | -€4,242 | -17.3% |
| Recurring financial charges | 65 | €24,561 | €20,319 | -€4,242 | -17.3% |
| Profit (loss) for the period before taxes | 9903 | €196,699 | -€21,344 | -€218,042 | |
| Transfer from deferred taxes | 780 | €8,114 | €15,273 | +€7,158 | +88.2% |
| Transfer to deferred taxes | 680 | €21,327 | €1,960 | -€19,367 | -90.8% |
| Income taxes | 67/77 | €33,142 | €10,458 | -€22,684 | -68.4% |
| Profit (loss) for the period | 9904 | €150,343 | -€18,490 | -€168,833 | |
| Transfer from tax-exempt reserves | 789 | €31,093 | €60,468 | +€29,375 | +94.5% |
| Transfer to tax-exempt reserves | 689 | €85,308 | €7,840 | -€77,468 | -90.8% |
| Profit (loss) for the period to be appropriated | 9905 | €96,128 | €34,138 | -€61,989 | -64.5% |
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.