MEDIA PROCESS: 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 PROCESS
Largest movements
- Cash -€38,704
down €38,704 (-16.9%), from €229,390 to €190,686
mainly Contributions, distributions and other (-€105,458) and Trade debts (-€20,953)
- Tangible fixed assets -€26,044
down €26,044 (-20.1%), from €129,690 to €103,646
of which Furniture and vehicles: -€26,340
- Receivables within one year -€12,997
down €12,997 (-8.1%), from €161,336 to €148,339
of which Trade receivables: -€21,997
- Stocks and contracts +€11,627
up €11,627 (+109%), from €10,638 to €22,265
of which Contracts in progress: +€17,000
- Reserves -€105,458
down €105,458 (-48.8%), from €216,319 to €110,862
of which Distributable reserves: -€105,458
- Other debts +€87,064
up €87,064 (+1,568%), from €5,553 to €92,617
- Trade debts -€20,953
down €20,953 (-17.8%), from €117,572 to €96,619
- Debts after one year -€16,910
down €16,910 (-43.6%), from €38,829 to €21,919
- Tax, wage and social debts -€8,663
down €8,663 (-22.1%), from €39,228 to €30,565
of which Remuneration and social security: -€7,661
- Gross operating margin -€57,478
down €57,478 (-14.3%), from €400,718 to €343,241
- Provisions -€41,588
down €41,588 (-98.2%), from €42,356 to €768
- Financial charges +€36,961
up €36,961 (+1,362%), from €2,714 to €39,675
- Staff costs -€25,642
down €25,642 (-9.5%), from €268,522 to €242,880
- Taxes -€17,980
down €17,980 (-74.0%), from €24,303 to €6,323
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 | €544,160 | €481,789 | -€62,371 | -11.5% |
| Fixed assets | 21/28 | €129,739 | €103,695 | -€26,044 | -20.1% |
| Tangible fixed assets | 22/27 | €129,690 | €103,646 | -€26,044 | -20.1% |
| Plant, machinery and equipment | 23 | €22,546 | €15,280 | -€7,266 | -32.2% |
| Furniture and vehicles | 24 | €102,641 | €76,301 | -€26,340 | -25.7% |
| Other tangible fixed assets | 26 | €4,502 | €12,064 | +€7,563 | +168% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €414,421 | €378,094 | -€36,327 | -8.8% |
| Stocks and contracts in progress | 3 | €10,638 | €22,265 | +€11,627 | +109% |
| Stocks | 30/36 | €10,638 | €5,265 | -€5,373 | -50.5% |
| Contracts in progress | 37 | - | €17,000 | +€17,000 | |
| Amounts receivable within one year | 40/41 | €161,336 | €148,339 | -€12,997 | -8.1% |
| Trade receivables | 40 | €161,336 | €139,339 | -€21,997 | -13.6% |
| Other amounts receivable | 41 | - | €9,000 | +€9,000 | |
| Current investments | 50/53 | €158 | €158 | -€0 | 0.0% |
| Cash at bank and in hand | 54/58 | €229,390 | €190,686 | -€38,704 | -16.9% |
| Deferred charges and accrued income | 490/1 | €12,898 | €16,645 | +€3,747 | +29.1% |
| Total equity and liabilities | 10/49 | €544,160 | €481,789 | -€62,371 | -11.5% |
| Equity | 10/15 | €284,319 | €178,885 | -€105,434 | -37.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €216,319 | €110,862 | -€105,458 | -48.8% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €210,119 | €104,662 | -€105,458 | -50.2% |
| Profit (loss) carried forward | 14 | €6,000 | €6,024 | +€24 | +0.4% |
| Provisions and deferred taxes | 16 | €42,356 | €43,124 | +€768 | +1.8% |
| Provisions for liabilities and charges | 160/5 | €42,356 | €43,124 | +€768 | +1.8% |
| Other liabilities and charges | 164/5 | €42,356 | €43,124 | +€768 | +1.8% |
| Amounts payable | 17/49 | €217,485 | €259,780 | +€42,296 | +19.4% |
| Amounts payable after more than one year | 17 | €38,829 | €21,919 | -€16,910 | -43.6% |
| Financial debts | 170/4 | €38,829 | €21,919 | -€16,910 | -43.6% |
| Amounts payable within one year | 42/48 | €178,655 | €236,710 | +€58,055 | +32.5% |
| Current portion of amounts payable after more than one year | 42 | €16,303 | €16,910 | +€607 | +3.7% |
| Trade debts | 44 | €117,572 | €96,619 | -€20,953 | -17.8% |
| Suppliers | 440/4 | €117,572 | €96,619 | -€20,953 | -17.8% |
| Taxes, remuneration and social security | 45 | €39,228 | €30,565 | -€8,663 | -22.1% |
| Taxes | 450/3 | €9,041 | €8,039 | -€1,002 | -11.1% |
| Remuneration and social security | 454/9 | €30,186 | €22,526 | -€7,661 | -25.4% |
| Other amounts payable | 47/48 | €5,553 | €92,617 | +€87,064 | +1,568% |
| Accrued charges and deferred income | 492/3 | - | €1,151 | +€1,151 | |
| Remuneration, social security and pensions | 62 | €268,522 | €242,880 | -€25,642 | -9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,024 | €37,193 | +€12,169 | +48.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €5,139 | +€5,139 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €42,356 | €768 | -€41,588 | -98.2% |
| Other operating charges | 640/8 | €12,326 | €12,777 | +€451 | +3.7% |
| Gross operating margin | 9900 | €400,718 | €343,241 | -€57,478 | -14.3% |
| Operating profit (loss) | 9901 | €52,490 | €44,483 | -€8,007 | -15.3% |
| Financial income | 75/76B | €10 | €1,538 | +€1,528 | +15,236% |
| Recurring financial income | 75 | €10 | €1,538 | +€1,528 | +15,236% |
| Financial charges | 65/66B | €2,714 | €39,675 | +€36,961 | +1,362% |
| Recurring financial charges | 65 | €2,714 | €39,675 | +€36,961 | +1,362% |
| Profit (loss) for the period before taxes | 9903 | €49,786 | €6,347 | -€43,439 | -87.3% |
| Income taxes | 67/77 | €24,303 | €6,323 | -€17,980 | -74.0% |
| Profit (loss) for the period | 9904 | €25,483 | €24 | -€25,459 | -99.9% |
| Profit (loss) for the period to be appropriated | 9905 | €25,483 | €24 | -€25,459 | -99.9% |
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 14 October 2026 via checked.be.