LABELPAGES COMMUNICATION: 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.
LABELPAGES COMMUNICATION
Largest movements
- Tangible fixed assets -€25,307
down €25,307 (-21.9%), from €115,572 to €90,265
- Intangible fixed assets +€16,177
up €16,177, from €0 to €16,177
- Current investments +€13,913
up €13,913 (+20.6%), from €67,438 to €81,351
- Cash -€12,676
down €12,676 (-25.5%), from €49,652 to €36,976
mainly Investment in fixed assets (net) (-€27,643) and Debts after one year (-€20,059)
- Receivables within one year +€5,944
up €5,944 (+3.9%), from €152,246 to €158,190
of which Trade receivables: +€5,776
- Debts after one year -€20,059
down €20,059 (-42.2%), from €47,495 to €27,435
- Trade debts +€15,785
up €15,785 (+40.6%), from €38,839 to €54,624
- Reserves +€10,000
up €10,000 (+74.1%), from €13,500 to €23,500
of which Distributable reserves: +€10,000
- Tax, wage and social debts -€9,557
down €9,557 (-15.7%), from €60,727 to €51,170
of which Remuneration and social security: -€18,618
- Depreciation -€26,874
down €26,874 (-42.2%), from €63,646 to €36,773
- Staff costs -€17,879
down €17,879 (-7.9%), from €225,889 to €208,010
- Gross operating margin -€14,254
down €14,254 (-4.9%), from €293,035 to €278,782
- Taxes +€6,663
up €6,663 (+644%), from €1,034 to €7,697
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 | €387,168 | €384,948 | -€2,220 | -0.6% |
| Fixed assets | 21/28 | €116,432 | €107,302 | -€9,130 | -7.8% |
| Intangible fixed assets | 21 | €0 | €16,177 | +€16,177 | |
| Tangible fixed assets | 22/27 | €115,572 | €90,265 | -€25,307 | -21.9% |
| Land and buildings | 22 | €26,066 | €19,430 | -€6,636 | -25.5% |
| Plant, machinery and equipment | 23 | €61,428 | €49,677 | -€11,751 | -19.1% |
| Furniture and vehicles | 24 | €10,234 | €8,065 | -€2,170 | -21.2% |
| Leasing and similar rights | 25 | €0 | €0 | = | 0.0% |
| Other tangible fixed assets | 26 | €17,844 | €13,093 | -€4,751 | -26.6% |
| Financial fixed assets | 28 | €860 | €860 | = | 0.0% |
| Current assets | 29/58 | €270,736 | €277,645 | +€6,910 | +2.6% |
| Amounts receivable within one year | 40/41 | €152,246 | €158,190 | +€5,944 | +3.9% |
| Trade receivables | 40 | €144,368 | €150,144 | +€5,776 | +4.0% |
| Other amounts receivable | 41 | €7,878 | €8,047 | +€169 | +2.1% |
| Current investments | 50/53 | €67,438 | €81,351 | +€13,913 | +20.6% |
| Cash at bank and in hand | 54/58 | €49,652 | €36,976 | -€12,676 | -25.5% |
| Deferred charges and accrued income | 490/1 | €1,399 | €1,127 | -€272 | -19.4% |
| Total equity and liabilities | 10/49 | €387,168 | €384,948 | -€2,220 | -0.6% |
| Equity | 10/15 | €195,654 | €208,506 | +€12,852 | +6.6% |
| Contributions | 10/11 | €58,000 | €58,000 | = | 0.0% |
| Reserves | 13 | €13,500 | €23,500 | +€10,000 | +74.1% |
| Tax-exempt reserves | 132 | €13,500 | €13,500 | = | 0.0% |
| Distributable reserves | 133 | - | €10,000 | +€10,000 | |
| Profit (loss) carried forward | 14 | €120,658 | €124,210 | +€3,551 | +2.9% |
| Investment grants | 15 | €3,496 | €2,797 | -€699 | -20.0% |
| Amounts payable | 17/49 | €191,514 | €176,442 | -€15,072 | -7.9% |
| Amounts payable after more than one year | 17 | €47,495 | €27,435 | -€20,059 | -42.2% |
| Financial debts | 170/4 | €47,495 | €27,435 | -€20,059 | -42.2% |
| Amounts payable within one year | 42/48 | €138,868 | €143,855 | +€4,987 | +3.6% |
| Current portion of amounts payable after more than one year | 42 | €26,800 | €25,315 | -€1,485 | -5.5% |
| Trade debts | 44 | €38,839 | €54,624 | +€15,785 | +40.6% |
| Suppliers | 440/4 | €38,839 | €54,624 | +€15,785 | +40.6% |
| Advances received on contracts in progress | 46 | €275 | - | -€275 | |
| Taxes, remuneration and social security | 45 | €60,727 | €51,170 | -€9,557 | -15.7% |
| Taxes | 450/3 | €21,710 | €30,771 | +€9,061 | +41.7% |
| Remuneration and social security | 454/9 | €39,017 | €20,399 | -€18,618 | -47.7% |
| Other amounts payable | 47/48 | €12,227 | €12,746 | +€518 | +4.2% |
| Accrued charges and deferred income | 492/3 | €5,152 | €5,152 | = | 0.0% |
| Non-recurring operating income | 76A | - | €553 | +€553 | |
| Remuneration, social security and pensions | 62 | €225,889 | €208,010 | -€17,879 | -7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,646 | €36,773 | -€26,874 | -42.2% |
| Other operating charges | 640/8 | €3,506 | €4,136 | +€630 | +18.0% |
| Non-recurring operating charges | 66A | €1,221 | €5,326 | +€4,105 | +336% |
| Gross operating margin | 9900 | €293,035 | €278,782 | -€14,254 | -4.9% |
| Operating profit (loss) | 9901 | -€1,227 | €24,537 | +€25,765 | |
| Financial income | 75/76B | €4,507 | €1,658 | -€2,849 | -63.2% |
| Recurring financial income | 75 | €4,507 | €1,120 | -€3,386 | -75.1% |
| Non-recurring financial income | 76B | - | €537 | +€537 | |
| Financial charges | 65/66B | €6,948 | €4,946 | -€2,002 | -28.8% |
| Recurring financial charges | 65 | €6,948 | €4,946 | -€2,002 | -28.8% |
| Profit (loss) for the period before taxes | 9903 | -€3,669 | €21,249 | +€24,917 | |
| Income taxes | 67/77 | €1,034 | €7,697 | +€6,663 | +644% |
| Profit (loss) for the period | 9904 | -€4,703 | €13,551 | +€18,255 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,703 | €13,551 | +€18,255 |
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 18 October 2026 via checked.be.