BELGAMEDIA: 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.
BELGAMEDIA
Largest movements
- Tangible fixed assets +€800,445
up €800,445 (+100%), from €799,848 to €1.6m
of which Land and buildings: +€803,724
- Debts after one year +€786,167
up €786,167 (+169%), from €464,000 to €1.3m
- Profit (loss) carried forward -€130,101
down €130,101 (-86.5%), from €150,403 to €20,302
- Other debts +€95,811
up €95,811 (+54.4%), from €176,233 to €272,045
- Current portion of long-term debt +€55,000
up €55,000 (+115%), from €48,000 to €103,000
- Depreciation +€139,933
up €139,933 (+626%), from €22,342 to €162,276
- Gross operating margin +€46,858
up €46,858 (+108%), from €43,549 to €90,407
- Financial charges +€35,254
up €35,254 (+375%), from €9,396 to €44,650
- Other operating charges +€12,386
up €12,386 (+187%), from €6,627 to €19,013
- Taxes -€3,578
down €3,578 (-95.4%), from €3,749 to €171
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €942,192 | €1,759,519 | +€817,327 | +86.7% |
| Fixed assets | 21/28 | €799,997 | €1,600,442 | +€800,445 | +100% |
| Tangible fixed assets | 22/27 | €799,848 | €1,600,293 | +€800,445 | +100% |
| Land and buildings | 22 | €792,500 | €1,596,224 | +€803,724 | +101% |
| Furniture and vehicles | 24 | €7,348 | €4,069 | -€3,279 | -44.6% |
| Financial fixed assets | 28 | €149 | €149 | = | 0.0% |
| Current assets | 29/58 | €142,195 | €159,076 | +€16,882 | +11.9% |
| Amounts receivable within one year | 40/41 | €136,266 | €150,718 | +€14,452 | +10.6% |
| Trade receivables | 40 | €49,566 | €44,241 | -€5,326 | -10.7% |
| Other amounts receivable | 41 | €86,699 | €106,477 | +€19,778 | +22.8% |
| Current investments | 50/53 | €5,250 | €5,250 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €256 | €514 | +€257 | +100% |
| Deferred charges and accrued income | 490/1 | €423 | €2,595 | +€2,173 | +514% |
| Total equity and liabilities | 10/49 | €942,192 | €1,759,519 | +€817,327 | +86.7% |
| Equity | 10/15 | €187,495 | €57,394 | -€130,101 | -69.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €18,491 | €18,491 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €11,631 | €11,631 | = | 0.0% |
| Distributable reserves | 133 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €150,403 | €20,302 | -€130,101 | -86.5% |
| Amounts payable | 17/49 | €754,697 | €1,702,125 | +€947,428 | +126% |
| Amounts payable after more than one year | 17 | €464,000 | €1,250,167 | +€786,167 | +169% |
| Financial debts | 170/4 | €464,000 | €1,250,167 | +€786,167 | +169% |
| Amounts payable within one year | 42/48 | €290,697 | €451,958 | +€161,262 | +55.5% |
| Current portion of amounts payable after more than one year | 42 | €48,000 | €103,000 | +€55,000 | +115% |
| Financial debts | 43 | €7,045 | €9,889 | +€2,844 | +40.4% |
| Credit institutions | 430/8 | €7,045 | €9,889 | +€2,844 | +40.4% |
| Trade debts | 44 | €54,109 | €66,554 | +€12,445 | +23.0% |
| Suppliers | 440/4 | €54,109 | €66,554 | +€12,445 | +23.0% |
| Taxes, remuneration and social security | 45 | €5,310 | €471 | -€4,839 | -91.1% |
| Taxes | 450/3 | €5,310 | €471 | -€4,839 | -91.1% |
| Other amounts payable | 47/48 | €176,233 | €272,045 | +€95,811 | +54.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,342 | €162,276 | +€139,933 | +626% |
| Other operating charges | 640/8 | €6,627 | €19,013 | +€12,386 | +187% |
| Gross operating margin | 9900 | €43,549 | €90,407 | +€46,858 | +108% |
| Operating profit (loss) | 9901 | €14,580 | -€90,881 | -€105,461 | |
| Financial income | 75/76B | €4,495 | €5,601 | +€1,106 | +24.6% |
| Recurring financial income | 75 | €4,495 | €5,601 | +€1,106 | +24.6% |
| Financial charges | 65/66B | €9,396 | €44,650 | +€35,254 | +375% |
| Recurring financial charges | 65 | €9,396 | €44,650 | +€35,254 | +375% |
| Profit (loss) for the period before taxes | 9903 | €9,678 | -€129,930 | -€139,609 | |
| Income taxes | 67/77 | €3,749 | €171 | -€3,578 | -95.4% |
| Profit (loss) for the period | 9904 | €5,929 | -€130,101 | -€136,030 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,929 | -€130,101 | -€136,030 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.