MEDIA SYSTEM: what changed
Two fiscal 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 SYSTEM
Largest movements
- Tangible fixed assets -€648,284
down €648,284 (-28.0%), from €2.3m to €1.7m
of which Land and buildings: -€648,849
- Current investments +€400,000
new in 2025: €400,000
- Cash +€247,610
up €247,610 (+43.7%), from €567,090 to €814,700
mainly Investment in fixed assets (net) (+€602,448) and Net result for the year (+€297,717)
- Receivables within one year -€80,461
down €80,461 (-32.5%), from €247,498 to €167,037
of which Trade receivables: -€57,230
- Debts after one year -€378,119
down €378,119 (-31.1%), from €1.2m to €837,758
of which Financial debts: -€374,725
- Reserves +€205,708
up €205,708 (+31.7%), from €648,024 to €853,733
- Other debts +€74,987
up €74,987 (+8.8%), from €856,011 to €930,998
- Tax, wage and social debts +€39,514
up €39,514 (+48.2%), from €81,969 to €121,483
- Gross operating margin +€65,528
up €65,528 (+14.0%), from €468,067 to €533,594
- Taxes +€30,261
up €30,261 (+25.8%), from €117,078 to €147,338
- Depreciation -€18,684
down €18,684 (-29.0%), from €64,520 to €45,836
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.
Cash bridge derived
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 | €3,271,260 | €3,190,680 | -€80,580 | -2.5% |
| Fixed assets | 21/28 | €2,454,125 | €1,805,841 | -€648,284 | -26.4% |
| Tangible fixed assets | 22/27 | €2,314,125 | €1,665,841 | -€648,284 | -28.0% |
| Land and buildings | 22 | €2,314,125 | €1,665,276 | -€648,849 | -28.0% |
| Plant, machinery and equipment | 23 | - | €565 | +€565 | |
| Financial fixed assets | 28 | €140,000 | €140,000 | = | 0.0% |
| Current assets | 29/58 | €817,135 | €1,384,839 | +€567,704 | +69.5% |
| Amounts receivable within one year | 40/41 | €247,498 | €167,037 | -€80,461 | -32.5% |
| Trade receivables | 40 | €210,631 | €153,401 | -€57,230 | -27.2% |
| Other amounts receivable | 41 | €36,867 | €13,636 | -€23,231 | -63.0% |
| Current investments | 50/53 | - | €400,000 | +€400,000 | |
| Cash at bank and in hand | 54/58 | €567,090 | €814,700 | +€247,610 | +43.7% |
| Deferred charges and accrued income | 490/1 | €2,547 | €3,102 | +€555 | +21.8% |
| Total equity and liabilities | 10/49 | €3,271,260 | €3,190,680 | -€80,580 | -2.5% |
| Equity | 10/15 | €1,016,624 | €1,222,333 | +€205,708 | +20.2% |
| Contributions | 10/11 | €368,600 | €368,600 | = | 0.0% |
| Outside capital | 11 | €368,600 | €368,600 | = | 0.0% |
| Other | 1109/19 | €368,600 | €368,600 | = | 0.0% |
| Reserves | 13 | €648,024 | €853,733 | +€205,708 | +31.7% |
| Distributable reserves | 133 | €648,024 | €853,733 | +€205,708 | +31.7% |
| Amounts payable | 17/49 | €2,254,636 | €1,968,348 | -€286,288 | -12.7% |
| Amounts payable after more than one year | 17 | €1,215,877 | €837,758 | -€378,119 | -31.1% |
| Financial debts | 170/4 | €1,136,990 | €762,265 | -€374,725 | -33.0% |
| Other amounts payable | 178/9 | €78,887 | €75,493 | -€3,394 | -4.3% |
| Amounts payable within one year | 42/48 | €1,032,203 | €1,124,034 | +€91,831 | +8.9% |
| Current portion of amounts payable after more than one year | 42 | €85,641 | €63,012 | -€22,630 | -26.4% |
| Trade debts | 44 | €8,582 | €8,541 | -€41 | -0.5% |
| Suppliers | 440/4 | €8,582 | €8,541 | -€41 | -0.5% |
| Taxes, remuneration and social security | 45 | €81,969 | €121,483 | +€39,514 | +48.2% |
| Taxes | 450/3 | €81,969 | €121,483 | +€39,514 | +48.2% |
| Other amounts payable | 47/48 | €856,011 | €930,998 | +€74,987 | +8.8% |
| Accrued charges and deferred income | 492/3 | €6,556 | €6,556 | = | 0.0% |
| Non-recurring operating income | 76A | - | €84,150 | +€84,150 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,520 | €45,836 | -€18,684 | -29.0% |
| Other operating charges | 640/8 | €9,574 | €10,051 | +€477 | +5.0% |
| Gross operating margin | 9900 | €468,067 | €533,594 | +€65,528 | +14.0% |
| Operating profit (loss) | 9901 | €393,973 | €477,708 | +€83,735 | +21.3% |
| Financial income | 75/76B | €1,152 | €1,578 | +€426 | +37.0% |
| Recurring financial income | 75 | €1,152 | €1,578 | +€426 | +37.0% |
| Financial charges | 65/66B | €34,377 | €34,231 | -€146 | -0.4% |
| Recurring financial charges | 65 | €34,377 | €34,231 | -€146 | -0.4% |
| Profit (loss) for the period before taxes | 9903 | €360,748 | €445,055 | +€84,307 | +23.4% |
| Income taxes | 67/77 | €117,078 | €147,338 | +€30,261 | +25.8% |
| Profit (loss) for the period | 9904 | €243,670 | €297,717 | +€54,046 | +22.2% |
| Profit (loss) for the period to be appropriated | 9905 | €243,670 | €297,717 | +€54,046 | +22.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.