MEDIA-PARTICIPATIONS: 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
MEDIA-PARTICIPATIONS
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€115,594
2024 · -€57,355-€58,239
Equity
€330.3m
2024 · €216.9m+€113.4m
Cash
€33,468
2024 · €5,372+€28,096
Balance sheet total
€330.7m
2024 · €217.2m+€113.5m
Largest movements
Assets
- Financial fixed assets +€113.5m
up €113.5m (+52.3%), from €217.0m to €330.5m
Equity and liabilities
- Contributions +€113.5m
up €113.5m (+61.3%), from €185.1m to €298.7m
of which Contributions outside capital: +€98.0m
Income statement
No income-statement line moved by more than 1% of the activity.
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
-€57,355
Other operating items
+€14,670
Financial income
-€74,996
Financial charges
+€2,087
Result 2025
-€115,594
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
+€28,096
Investment
-€113.5m
Financing
+€113.5m
Cash 2024
€5,372
From operations (derived)
+€28,096
Net result for the year
-€115,594
Smaller working-capital items
+€143,690
Investment (derived)
-€113.5m
Investment in fixed assets (net)
-€113.5m
Financing
+€113.5m
Contributions, distributions and other
+€113.5m
Cash 2025
€33,468
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €217,161,515 | €330,657,386 | +€113.5m | +52.3% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €216,999,012 | €330,548,917 | +€113.5m | +52.3% |
| Tangible fixed assets | 22/27 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Financial fixed assets | 28 | €216,999,012 | €330,548,917 | +€113.5m | +52.3% |
| Affiliated companies | 280/1 | €216,999,012 | €330,548,917 | +€113.5m | +52.3% |
| Participating interests | 280 | €201,999,012 | €330,548,916 | +€128.5m | +63.6% |
| Amounts receivable | 281 | €15,000,000 | €1 | -€15.0m | -100.0% |
| Current assets | 29/58 | €162,503 | €108,469 | -€54,034 | -33.3% |
| Amounts receivable within one year | 40/41 | €7,131 | €1 | -€7,130 | -100.0% |
| Trade receivables | 40 | €7,131 | - | -€7,131 | |
| Other amounts receivable | 41 | - | €1 | +€1 | |
| Cash at bank and in hand | 54/58 | €5,372 | €33,468 | +€28,096 | +523% |
| Deferred charges and accrued income | 490/1 | €150,000 | €75,000 | -€75,000 | -50.0% |
| Total equity and liabilities | 10/49 | €217,161,515 | €330,657,386 | +€113.5m | +52.3% |
| Equity | 10/15 | €216,879,680 | €330,313,991 | +€113.4m | +52.3% |
| Contributions | 10/11 | €185,139,036 | €298,688,941 | +€113.5m | +61.3% |
| Capital | 10 | €55,110,173 | €70,697,649 | +€15.6m | +28.3% |
| Issued capital | 100 | €55,110,173 | €70,697,649 | +€15.6m | +28.3% |
| Contributions outside capital | 11 | €130,028,863 | €227,991,291 | +€98.0m | +75.3% |
| Share premium | 1100/10 | €130,028,863 | €227,991,291 | +€98.0m | +75.3% |
| Reserves | 13 | €3,492,275 | €3,492,275 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,492,275 | €3,492,275 | = | 0.0% |
| Legal reserve | 130 | €3,492,275 | €3,492,275 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,248,370 | €28,132,775 | -€115,594 | -0.4% |
| Amounts payable | 17/49 | €281,835 | €343,395 | +€61,560 | +21.8% |
| Amounts payable within one year | 42/48 | €279,530 | €342,583 | +€63,052 | +22.6% |
| Trade debts | 44 | €90,050 | €85,770 | -€4,280 | -4.8% |
| Suppliers | 440/4 | €90,050 | €85,770 | -€4,280 | -4.8% |
| Other amounts payable | 47/48 | €189,481 | €256,813 | +€67,332 | +35.5% |
| Accrued charges and deferred income | 492/3 | €2,304 | €812 | -€1,492 | -64.7% |
| Operating charges | 60/66A | €194,438 | €179,768 | -€14,670 | -7.5% |
| Services and other goods | 61 | €192,993 | €178,323 | -€14,670 | -7.6% |
| Other operating charges | 640/8 | €1,445 | €1,445 | = | 0.0% |
| Operating profit (loss) | 9901 | -€194,438 | -€179,768 | +€14,670 | +7.5% |
| Financial income | 75/76B | €150,000 | €75,004 | -€74,996 | -50.0% |
| Recurring financial income | 75 | €150,000 | €75,004 | -€74,996 | -50.0% |
| Income from current assets | 751 | €150,000 | €75,004 | -€74,996 | -50.0% |
| Financial charges | 65/66B | €12,917 | €10,830 | -€2,087 | -16.2% |
| Recurring financial charges | 65 | €12,917 | €10,830 | -€2,087 | -16.2% |
| Debt charges | 650 | €11,847 | €8,206 | -€3,641 | -30.7% |
| Other financial charges | 652/9 | €1,071 | €2,624 | +€1,554 | +145% |
| Profit (loss) for the period before taxes | 9903 | -€57,355 | -€115,594 | -€58,239 | -102% |
| Profit (loss) for the period | 9904 | -€57,355 | -€115,594 | -€58,239 | -102% |
| Profit (loss) for the period to be appropriated | 9905 | -€57,355 | -€115,594 | -€58,239 | -102% |
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 28 October 2026 via checked.be.