ED TV: 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.
ED TV
Largest movements
- Stocks and contracts -€2.3m
down €2.3m (-100%), from €2.3m to €0
- Receivables within one year +€946,414
up €946,414 (+63.7%), from €1.5m to €2.4m
of which Trade receivables: +€1.2m
- Tangible fixed assets -€157,284
down €157,284 (-38.7%), from €406,626 to €249,342
- Cash -€42,763
down €42,763 (-69.0%), from €62,002 to €19,239
mainly Advances received (-€1.8m) and Receivables within one year (-€946,414)
- Advances received -€1.8m
no longer reported in 2025 (was €1.8m)
- Other debts +€978,858
up €978,858 (+180%), from €542,837 to €1.5m
- Trade debts -€623,371
down €623,371 (-29.1%), from €2.1m to €1.5m
- Debts after one year -€98,761
no longer reported in 2025 (was €98,761)
- Current portion of long-term debt -€60,551
no longer reported in 2025 (was €60,551)
- Gross operating margin +€223,194
up €223,194 (+318%), from €70,263 to €293,457
- Staff costs -€114,896
down €114,896 (-60.8%), from €188,910 to €74,014
- Financial charges +€34,621
up €34,621 (+116%), from €29,726 to €64,347
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 | €4,266,188 | €2,706,267 | -€1.6m | -36.6% |
| Fixed assets | 21/28 | €411,000 | €253,716 | -€157,284 | -38.3% |
| Tangible fixed assets | 22/27 | €406,626 | €249,342 | -€157,284 | -38.7% |
| Plant, machinery and equipment | 23 | €406,626 | €249,342 | -€157,284 | -38.7% |
| Financial fixed assets | 28 | €4,374 | €4,374 | = | 0.0% |
| Current assets | 29/58 | €3,855,188 | €2,452,551 | -€1.4m | -36.4% |
| Stocks and contracts in progress | 3 | €2,305,872 | €0 | -€2.3m | -100% |
| Stocks | 30/36 | €2,305,872 | €0 | -€2.3m | -100% |
| Amounts receivable within one year | 40/41 | €1,486,898 | €2,433,312 | +€946,414 | +63.7% |
| Trade receivables | 40 | €1,133,496 | €2,292,534 | +€1.2m | +102% |
| Other amounts receivable | 41 | €353,402 | €140,779 | -€212,623 | -60.2% |
| Cash at bank and in hand | 54/58 | €62,002 | €19,239 | -€42,763 | -69.0% |
| Deferred charges and accrued income | 490/1 | €417 | - | -€417 | |
| Total equity and liabilities | 10/49 | €4,266,188 | €2,706,267 | -€1.6m | -36.6% |
| Equity | 10/15 | -€397,158 | -€401,103 | -€3,945 | -1.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€399,658 | -€403,603 | -€3,945 | -1.0% |
| Amounts payable | 17/49 | €4,663,346 | €3,107,370 | -€1.6m | -33.4% |
| Amounts payable after more than one year | 17 | €98,761 | - | -€98,761 | |
| Financial debts | 170/4 | €98,761 | - | -€98,761 | |
| Amounts payable within one year | 42/48 | €4,564,585 | €3,107,370 | -€1.5m | -31.9% |
| Current portion of amounts payable after more than one year | 42 | €60,551 | - | -€60,551 | |
| Trade debts | 44 | €2,142,281 | €1,518,910 | -€623,371 | -29.1% |
| Suppliers | 440/4 | €2,142,281 | €1,518,910 | -€623,371 | -29.1% |
| Advances received on contracts in progress | 46 | €1,781,419 | - | -€1.8m | |
| Taxes, remuneration and social security | 45 | €37,497 | €66,764 | +€29,268 | +78.1% |
| Taxes | 450/3 | €3,536 | €66,764 | +€63,228 | +1,788% |
| Remuneration and social security | 454/9 | €33,960 | - | -€33,960 | |
| Other amounts payable | 47/48 | €542,837 | €1,521,695 | +€978,858 | +180% |
| Remuneration, social security and pensions | 62 | €188,910 | €74,014 | -€114,896 | -60.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €157,467 | €157,284 | -€183 | -0.1% |
| Other operating charges | 640/8 | €2,393 | €1,757 | -€635 | -26.6% |
| Gross operating margin | 9900 | €70,263 | €293,457 | +€223,194 | +318% |
| Operating profit (loss) | 9901 | -€278,507 | €60,401 | +€338,908 | |
| Financial income | 75/76B | €331 | €1 | -€330 | -99.7% |
| Recurring financial income | 75 | €331 | €1 | -€330 | -99.7% |
| Financial charges | 65/66B | €29,726 | €64,347 | +€34,621 | +116% |
| Recurring financial charges | 65 | €29,726 | €64,347 | +€34,621 | +116% |
| Profit (loss) for the period before taxes | 9903 | -€307,902 | -€3,945 | +€303,957 | +98.7% |
| Profit (loss) for the period | 9904 | -€307,902 | -€3,945 | +€303,957 | +98.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€307,902 | -€3,945 | +€303,957 | +98.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.