F. DE MUNCK: 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
F. DE MUNCK
NACE 47.621, Retail sale of newspapers and periodicals
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€3,999
2024 · -€519-€3,480
Equity
€402,481
2024 · €406,480-€3,999
Cash
€95,672
2024 · €98,392-€2,720
Balance sheet total
€429,290
2024 · €427,383+€1,908
Largest movements
Assets
- Tangible fixed assets +€5,657
up €5,657 (+2.3%), from €244,908 to €250,565
of which Other tangible fixed assets: +€13,614
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Gross operating margin -€2,464
down €2,464 (-12.7%), from €19,427 to €16,963
- Financial charges +€1,386
up €1,386 (+59.2%), from €2,343 to €3,729
- Depreciation -€1,073
down €1,073 (-9.3%), from €11,505 to €10,432
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
-€519
Gross operating margin
-€2,464
Staff costs
+€131
Depreciation
+€1,073
Write-downs
-€132
Other operating charges
+€181
Other operating items
-€741
Financial income
-€121
Financial charges
-€1,386
Taxes
-€21
Result 2025
-€3,999
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
+€13,317
Investment
-€16,036
Financing
€0
Cash 2024
€98,392
From operations (derived)
+€13,317
Net result for the year
-€3,999
Depreciation
+€10,432
Stocks and contracts
-€1,727
Receivables within one year
+€809
Deferred charges and accrued income
+€1,895
Trade debts
+€3,291
Tax, wage and social debts
+€2,616
Investment (derived)
-€16,036
Investment in fixed assets (net)
-€16,036
Cash 2025
€95,672
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €427,383 | €429,290 | +€1,908 | +0.4% |
| Fixed assets | 21/28 | €244,961 | €250,565 | +€5,604 | +2.3% |
| Intangible fixed assets | 21 | €54 | €0 | -€54 | -100% |
| Tangible fixed assets | 22/27 | €244,908 | €250,565 | +€5,657 | +2.3% |
| Land and buildings | 22 | €89,282 | €85,771 | -€3,511 | -3.9% |
| Plant, machinery and equipment | 23 | €5,457 | €4,643 | -€814 | -14.9% |
| Furniture and vehicles | 24 | €5,311 | €1,679 | -€3,632 | -68.4% |
| Other tangible fixed assets | 26 | €144,858 | €158,472 | +€13,614 | +9.4% |
| Current assets | 29/58 | €182,421 | €178,725 | -€3,696 | -2.0% |
| Stocks and contracts in progress | 3 | €46,578 | €48,306 | +€1,727 | +3.7% |
| Stocks | 30/36 | €46,578 | €48,306 | +€1,727 | +3.7% |
| Amounts receivable within one year | 40/41 | €5,658 | €4,849 | -€809 | -14.3% |
| Trade receivables | 40 | €400 | €0 | -€400 | -100% |
| Other amounts receivable | 41 | €5,258 | €4,849 | -€408 | -7.8% |
| Current investments | 50/53 | €29,613 | €29,613 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €98,392 | €95,672 | -€2,720 | -2.8% |
| Deferred charges and accrued income | 490/1 | €2,180 | €285 | -€1,895 | -86.9% |
| Total equity and liabilities | 10/49 | €427,383 | €429,290 | +€1,908 | +0.4% |
| Equity | 10/15 | €406,480 | €402,481 | -€3,999 | -1.0% |
| Contributions | 10/11 | €126,250 | €126,250 | = | 0.0% |
| Reserves | 13 | €280,230 | €276,231 | -€3,999 | -1.4% |
| Distributable reserves | 133 | €280,230 | €276,231 | -€3,999 | -1.4% |
| Amounts payable | 17/49 | €20,903 | €26,809 | +€5,907 | +28.3% |
| Amounts payable within one year | 42/48 | €20,903 | €26,809 | +€5,907 | +28.3% |
| Trade debts | 44 | €15,511 | €18,801 | +€3,291 | +21.2% |
| Suppliers | 440/4 | €15,511 | €18,801 | +€3,291 | +21.2% |
| Taxes, remuneration and social security | 45 | €5,392 | €8,008 | +€2,616 | +48.5% |
| Taxes | 450/3 | €5,372 | €7,979 | +€2,607 | +48.5% |
| Remuneration and social security | 454/9 | €21 | €29 | +€9 | +42.3% |
| Non-recurring operating income | 76A | €1,515 | €0 | -€1,515 | -100% |
| Remuneration, social security and pensions | 62 | €3,163 | €3,031 | -€131 | -4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,505 | €10,432 | -€1,073 | -9.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €159 | €291 | +€132 | +83.4% |
| Other operating charges | 640/8 | €3,667 | €3,485 | -€181 | -4.9% |
| Non-recurring operating charges | 66A | - | €741 | +€741 | |
| Gross operating margin | 9900 | €19,427 | €16,963 | -€2,464 | -12.7% |
| Operating profit (loss) | 9901 | €934 | -€1,018 | -€1,952 | |
| Financial income | 75/76B | €1,346 | €1,224 | -€121 | -9.0% |
| Recurring financial income | 75 | €1,346 | €1,224 | -€121 | -9.0% |
| Financial charges | 65/66B | €2,343 | €3,729 | +€1,386 | +59.2% |
| Recurring financial charges | 65 | €2,343 | €3,729 | +€1,386 | +59.2% |
| Profit (loss) for the period before taxes | 9903 | -€63 | -€3,522 | -€3,459 | -5,473% |
| Income taxes | 67/77 | €456 | €477 | +€21 | +4.5% |
| Profit (loss) for the period | 9904 | -€519 | -€3,999 | -€3,480 | -670% |
| Profit (loss) for the period to be appropriated | 9905 | -€519 | -€3,999 | -€3,480 | -670% |
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 13 October 2026 via checked.be.