Communication & Publishing: 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
Communication & Publishing
NACE 90.120, Visual arts creation
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€136,052
2024 · -€13,305-€122,747
Equity
-€62,704
2024 · €73,348-€136,052
Cash
€3
2024 · €30-€27
Balance sheet total
€511,697
2024 · €407,093+€104,603
Largest movements
Assets
- Stocks and contracts +€84,367
up €84,367 (+54.4%), from €155,193 to €239,559
- Deferred charges and accrued income +€25,949
up €25,949 (+28.2%), from €91,989 to €117,938
- Receivables within one year -€6,498
down €6,498 (-4.2%), from €155,031 to €148,533
of which Other amounts receivable: -€6,470
Equity and liabilities
- Profit (loss) carried forward -€136,052
down €136,052, from €52,888 to -€83,164
- Other debts +€131,104
up €131,104 (+242.7%), from €54,009 to €185,113
- Trade debts +€69,321
up €69,321 (+61.3%), from €113,112 to €182,432
- Debts after one year +€43,416
new in 2025: €43,416
- Accrued charges and deferred income -€12,359
down €12,359 (-41.9%), from €29,477 to €17,118
Income statement
- Gross operating margin -€154,248
down €154,248, from €26,785 to -€127,463
- Write-downs -€30,847
down €30,847, from €27,529 to -€3,318
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
-€13,305
Gross operating margin
-€154,248
Depreciation
-€87
Write-downs
+€30,847
Other operating charges
+€130
Financial income
+€22
Financial charges
+€585
Taxes
+€4
Result 2025
-€136,052
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
-€49,830
Investment
-€2,900
Financing
+€52,703
Cash 2024
€30
From operations (derived)
-€49,830
Net result for the year
-€136,052
Depreciation
+€2,088
Stocks and contracts
-€84,367
Receivables within one year
+€6,498
Deferred charges and accrued income
-€25,949
Trade debts
+€69,321
Tax, wage and social debts
-€113
Other debts
+€131,104
Accrued charges and deferred income
-€12,359
Investment (derived)
-€2,900
Investment in fixed assets (net)
-€2,900
Financing
+€52,703
Debts after one year
+€43,416
Current portion of long-term debt
+€11,529
Short-term financial debts
-€2,242
Cash 2025
€3
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €407,093 | €511,697 | +€104,603 | +25.7% |
| Fixed assets | 21/28 | €4,851 | €5,663 | +€812 | +16.7% |
| Intangible fixed assets | 21 | €1,789 | €2,461 | +€672 | +37.6% |
| Tangible fixed assets | 22/27 | €3,062 | €2,302 | -€760 | -24.8% |
| Furniture and vehicles | 24 | €656 | €156 | -€500 | -76.2% |
| Other tangible fixed assets | 26 | €2,406 | €2,146 | -€260 | -10.8% |
| Financial fixed assets | 28 | - | €900 | +€900 | |
| Current assets | 29/58 | €402,243 | €506,034 | +€103,791 | +25.8% |
| Stocks and contracts in progress | 3 | €155,193 | €239,559 | +€84,367 | +54.4% |
| Stocks | 30/36 | €155,193 | €239,559 | +€84,367 | +54.4% |
| Amounts receivable within one year | 40/41 | €155,031 | €148,533 | -€6,498 | -4.2% |
| Trade receivables | 40 | €143,984 | €143,957 | -€27 | 0.0% |
| Other amounts receivable | 41 | €11,047 | €4,576 | -€6,470 | -58.6% |
| Cash at bank and in hand | 54/58 | €30 | €3 | -€27 | -88.5% |
| Deferred charges and accrued income | 490/1 | €91,989 | €117,938 | +€25,949 | +28.2% |
| Total equity and liabilities | 10/49 | €407,093 | €511,697 | +€104,603 | +25.7% |
| Equity | 10/15 | €73,348 | -€62,704 | -€136,052 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 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% |
| Profit (loss) carried forward | 14 | €52,888 | -€83,164 | -€136,052 | |
| Amounts payable | 17/49 | €333,745 | €574,400 | +€240,656 | +72.1% |
| Amounts payable after more than one year | 17 | - | €43,416 | +€43,416 | |
| Financial debts | 170/4 | - | €43,416 | +€43,416 | |
| Amounts payable within one year | 42/48 | €304,268 | €513,866 | +€209,599 | +68.9% |
| Current portion of amounts payable after more than one year | 42 | - | €11,529 | +€11,529 | |
| Financial debts | 43 | €134,013 | €131,771 | -€2,242 | -1.7% |
| Credit institutions | 430/8 | €133,440 | €128,970 | -€4,470 | -3.3% |
| Other loans | 439 | €573 | €2,801 | +€2,228 | +389.0% |
| Trade debts | 44 | €113,112 | €182,432 | +€69,321 | +61.3% |
| Suppliers | 440/4 | €113,112 | €182,432 | +€69,321 | +61.3% |
| Taxes, remuneration and social security | 45 | €3,134 | €3,021 | -€113 | -3.6% |
| Taxes | 450/3 | €1,023 | €987 | -€36 | -3.5% |
| Remuneration and social security | 454/9 | €2,111 | €2,033 | -€78 | -3.7% |
| Other amounts payable | 47/48 | €54,009 | €185,113 | +€131,104 | +242.7% |
| Accrued charges and deferred income | 492/3 | €29,477 | €17,118 | -€12,359 | -41.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,001 | €2,088 | +€87 | +4.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €27,529 | -€3,318 | -€30,847 | |
| Other operating charges | 640/8 | €920 | €790 | -€130 | -14.2% |
| Gross operating margin | 9900 | €26,785 | -€127,463 | -€154,248 | |
| Operating profit (loss) | 9901 | -€3,665 | -€127,022 | -€123,357 | -3366.1% |
| Financial income | 75/76B | €2 | €24 | +€22 | +877.1% |
| Recurring financial income | 75 | €2 | €24 | +€22 | +877.1% |
| Financial charges | 65/66B | €9,446 | €8,861 | -€585 | -6.2% |
| Recurring financial charges | 65 | €9,446 | €8,861 | -€585 | -6.2% |
| Profit (loss) for the period before taxes | 9903 | -€13,108 | -€135,859 | -€122,751 | -936.5% |
| Income taxes | 67/77 | €197 | €194 | -€4 | -2.0% |
| Profit (loss) for the period | 9904 | -€13,305 | -€136,052 | -€122,747 | -922.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,305 | -€136,052 | -€122,747 | -922.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.