Media Guides: 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.
Media Guides
Largest movements
- Receivables within one year +€530,213
up €530,213 (+23.8%), from €2.2m to €2.8m
of which Trade receivables: +€642,671
- Cash +€35,166
up €35,166 (+631%), from €5,576 to €40,742
mainly Trade debts (+€512,561) and Net result for the year (+€207,002)
- Trade debts +€512,561
up €512,561 (+45.8%), from €1.1m to €1.6m
- Reserves +€207,002
up €207,002 (+5,599%), from €3,697 to €210,699
- Accrued charges and deferred income -€205,566
down €205,566 (-64.1%), from €320,754 to €115,188
- Tax, wage and social debts +€71,425
up €71,425 (+601%), from €11,893 to €83,318
of which Taxes: +€68,262
- Gross operating margin +€268,047
up €268,047 (+222%), from €120,985 to €389,033
- Taxes +€67,289
up €67,289 (+2,448%), from €2,749 to €70,038
- Staff costs +€37,182
up €37,182 (+77.0%), from €48,311 to €85,494
- Financial charges +€6,479
up €6,479 (+37.5%), from €17,262 to €23,741
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 | €2,255,817 | €2,820,499 | +€564,683 | +25.0% |
| Formation expenses | 20 | €5,475 | €3,327 | -€2,148 | -39.2% |
| Current assets | 29/58 | €2,250,341 | €2,817,172 | +€566,831 | +25.2% |
| Amounts receivable within one year | 40/41 | €2,230,998 | €2,761,211 | +€530,213 | +23.8% |
| Trade receivables | 40 | €1,920,734 | €2,563,405 | +€642,671 | +33.5% |
| Other amounts receivable | 41 | €310,264 | €197,806 | -€112,458 | -36.2% |
| Cash at bank and in hand | 54/58 | €5,576 | €40,742 | +€35,166 | +631% |
| Deferred charges and accrued income | 490/1 | €13,768 | €15,219 | +€1,452 | +10.5% |
| Total equity and liabilities | 10/49 | €2,255,817 | €2,820,499 | +€564,683 | +25.0% |
| Equity | 10/15 | €18,697 | €225,699 | +€207,002 | +1,107% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €3,697 | €210,699 | +€207,002 | +5,599% |
| Distributable reserves | 133 | €3,697 | €210,699 | +€207,002 | +5,599% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €2,237,120 | €2,594,800 | +€357,681 | +16.0% |
| Amounts payable after more than one year | 17 | €302,410 | €308,853 | +€6,443 | +2.1% |
| Other amounts payable | 178/9 | €302,410 | €308,853 | +€6,443 | +2.1% |
| Amounts payable within one year | 42/48 | €1,613,955 | €2,170,759 | +€556,804 | +34.5% |
| Financial debts | 43 | €200,000 | €200,000 | = | 0.0% |
| Credit institutions | 430/8 | €200,000 | €200,000 | = | 0.0% |
| Trade debts | 44 | €1,119,725 | €1,632,285 | +€512,561 | +45.8% |
| Suppliers | 440/4 | €1,119,725 | €1,632,285 | +€512,561 | +45.8% |
| Taxes, remuneration and social security | 45 | €11,893 | €83,318 | +€71,425 | +601% |
| Taxes | 450/3 | €4,183 | €72,445 | +€68,262 | +1,632% |
| Remuneration and social security | 454/9 | €7,710 | €10,872 | +€3,162 | +41.0% |
| Other amounts payable | 47/48 | €282,338 | €255,156 | -€27,181 | -9.6% |
| Accrued charges and deferred income | 492/3 | €320,754 | €115,188 | -€205,566 | -64.1% |
| Remuneration, social security and pensions | 62 | €48,311 | €85,494 | +€37,182 | +77.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €716 | €2,148 | +€1,432 | +200% |
| Other operating charges | 640/8 | €237 | €611 | +€373 | +157% |
| Gross operating margin | 9900 | €120,985 | €389,033 | +€268,047 | +222% |
| Operating profit (loss) | 9901 | €71,721 | €300,781 | +€229,060 | +319% |
| Financial income | 75/76B | €0 | €0 | -€0 | -66.7% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -66.7% |
| Financial charges | 65/66B | €17,262 | €23,741 | +€6,479 | +37.5% |
| Recurring financial charges | 65 | €17,262 | €23,741 | +€6,479 | +37.5% |
| Profit (loss) for the period before taxes | 9903 | €54,459 | €277,039 | +€222,581 | +409% |
| Income taxes | 67/77 | €2,749 | €70,038 | +€67,289 | +2,448% |
| Profit (loss) for the period | 9904 | €51,710 | €207,002 | +€155,292 | +300% |
| Profit (loss) for the period to be appropriated | 9905 | €51,710 | €207,002 | +€155,292 | +300% |
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 23 October 2026 via checked.be.