De mandarijnen: 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
De mandarijnen
NACE 59.112, Motion picture, video and television programme production, sound recording and music publishing activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€105,590
2024 · €97,896-€203,486
Equity
€466,579
2024 · €572,558-€105,979
Cash
€35,644
2024 · €30,586+€5,058
Balance sheet total
€2.0m
2024 · €2.1m-€155,439
Largest movements
Assets
- Receivables within one year -€128,710
down €128,710 (-42.0%), from €306,102 to €177,392
of which Trade receivables: -€71,920
Equity and liabilities
- Profit (loss) carried forward -€101,159
new in 2025: -€101,159
- Other debts +€87,404
up €87,404 (+317%), from €27,563 to €114,967
- Tax, wage and social debts -€48,522
down €48,522 (-61.8%), from €78,578 to €30,055
of which Remuneration and social security: -€31,402
- Debts after one year -€46,858
down €46,858 (-3.7%), from €1.3m to €1.2m
- Trade debts -€40,315
down €40,315 (-63.9%), from €63,094 to €22,780
Income statement
- Gross operating margin -€458,168
down €458,168 (-74.1%), from €618,694 to €160,527
- Staff costs -€353,856
down €353,856 (-77.5%), from €456,799 to €102,943
- Financial income -€94,216
down €94,216 (-99.8%), from €94,423 to €207
- Write-downs +€41,367
new in 2025: €41,367
- Depreciation -€15,698
down €15,698 (-15.7%), from €99,743 to €84,045
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
€97,896
Gross operating margin
-€458,168
Staff costs
+€353,856
Depreciation
+€15,698
Write-downs
-€41,367
Other operating charges
+€5,283
Financial income
-€94,216
Financial charges
+€2,273
Taxes
+€11,711
Deferred taxes and other
+€1,442
Result 2025
-€105,590
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€113,922
Investment
-€61,616
Financing
-€47,247
Cash 2024
€30,586
From operations (derived)
+€113,922
Net result for the year
-€105,590
Depreciation
+€84,045
Receivables within one year
+€128,710
Deferred charges and accrued income
+€9,359
Provisions
-€1,628
Trade debts
-€40,315
Tax, wage and social debts
-€48,522
Other debts
+€87,404
Accrued charges and deferred income
+€459
Investment (derived)
-€61,616
Investment in fixed assets (net)
-€61,616
Financing
-€47,247
Debts after one year
-€46,858
Contributions, distributions and other
-€389
Cash 2025
€35,644
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,126,393 | €1,970,953 | -€155,439 | -7.3% |
| Fixed assets | 21/28 | €1,778,548 | €1,756,119 | -€22,429 | -1.3% |
| Intangible fixed assets | 21 | €27,551 | €19,848 | -€7,703 | -28.0% |
| Tangible fixed assets | 22/27 | €1,750,132 | €1,735,406 | -€14,725 | -0.8% |
| Land and buildings | 22 | €1,713,015 | €1,722,954 | +€9,939 | +0.6% |
| Plant, machinery and equipment | 23 | €28,421 | - | -€28,421 | |
| Furniture and vehicles | 24 | €6,485 | €12,452 | +€5,968 | +92.0% |
| Leasing and similar rights | 25 | €2,211 | - | -€2,211 | |
| Financial fixed assets | 28 | €865 | €865 | = | 0.0% |
| Current assets | 29/58 | €347,845 | €214,834 | -€133,011 | -38.2% |
| Amounts receivable within one year | 40/41 | €306,102 | €177,392 | -€128,710 | -42.0% |
| Trade receivables | 40 | €82,603 | €10,684 | -€71,920 | -87.1% |
| Other amounts receivable | 41 | €223,498 | €166,708 | -€56,790 | -25.4% |
| Cash at bank and in hand | 54/58 | €30,586 | €35,644 | +€5,058 | +16.5% |
| Deferred charges and accrued income | 490/1 | €11,158 | €1,798 | -€9,359 | -83.9% |
| Total equity and liabilities | 10/49 | €2,126,393 | €1,970,953 | -€155,439 | -7.3% |
| Equity | 10/15 | €572,558 | €466,579 | -€105,979 | -18.5% |
| Contributions | 10/11 | €7,100 | €7,095 | -€5 | -0.1% |
| Reserves | 13 | €565,458 | €560,642 | -€4,816 | -0.9% |
| Tax-exempt reserves | 132 | €122,919 | €118,385 | -€4,534 | -3.7% |
| Distributable reserves | 133 | €442,539 | €442,258 | -€282 | -0.1% |
| Profit (loss) carried forward | 14 | - | -€101,159 | -€101,159 | |
| Provisions and deferred taxes | 16 | €38,573 | €36,945 | -€1,628 | -4.2% |
| Deferred taxes | 168 | €38,573 | €36,945 | -€1,628 | -4.2% |
| Amounts payable | 17/49 | €1,515,261 | €1,467,429 | -€47,832 | -3.2% |
| Amounts payable after more than one year | 17 | €1,251,978 | €1,205,120 | -€46,858 | -3.7% |
| Financial debts | 170/4 | €1,251,978 | €1,205,120 | -€46,858 | -3.7% |
| Amounts payable within one year | 42/48 | €263,283 | €261,850 | -€1,433 | -0.5% |
| Current portion of amounts payable after more than one year | 42 | €94,048 | €94,048 | = | 0.0% |
| Trade debts | 44 | €63,094 | €22,780 | -€40,315 | -63.9% |
| Suppliers | 440/4 | €63,094 | €22,780 | -€40,315 | -63.9% |
| Taxes, remuneration and social security | 45 | €78,578 | €30,055 | -€48,522 | -61.8% |
| Taxes | 450/3 | €29,044 | €11,924 | -€17,120 | -58.9% |
| Remuneration and social security | 454/9 | €49,534 | €18,132 | -€31,402 | -63.4% |
| Other amounts payable | 47/48 | €27,563 | €114,967 | +€87,404 | +317% |
| Accrued charges and deferred income | 492/3 | - | €459 | +€459 | |
| Remuneration, social security and pensions | 62 | €456,799 | €102,943 | -€353,856 | -77.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €99,743 | €84,045 | -€15,698 | -15.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €41,367 | +€41,367 | |
| Other operating charges | 640/8 | €18,246 | €12,963 | -€5,283 | -29.0% |
| Gross operating margin | 9900 | €618,694 | €160,527 | -€458,168 | -74.1% |
| Operating profit (loss) | 9901 | €43,907 | -€80,790 | -€124,697 | |
| Financial income | 75/76B | €94,423 | €207 | -€94,216 | -99.8% |
| Recurring financial income | 75 | €94,423 | €207 | -€94,216 | -99.8% |
| Financial charges | 65/66B | €29,142 | €26,868 | -€2,273 | -7.8% |
| Recurring financial charges | 65 | €29,142 | €26,868 | -€2,273 | -7.8% |
| Profit (loss) for the period before taxes | 9903 | €109,187 | -€107,452 | -€216,639 | |
| Transfer from deferred taxes | 780 | €186 | €1,628 | +€1,442 | +776% |
| Income taxes | 67/77 | €11,477 | -€234 | -€11,711 | |
| Profit (loss) for the period | 9904 | €97,896 | -€105,590 | -€203,486 | |
| Transfer from tax-exempt reserves | 789 | €557 | €4,431 | +€3,874 | +695% |
| Profit (loss) for the period to be appropriated | 9905 | €98,454 | -€101,159 | -€199,612 |
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 21 October 2026 via checked.be.