MEDIA-TIMES: 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-TIMES
Largest movements
- Cash +€42,205
up €42,205 (+104%), from €40,761 to €82,966
mainly Depreciation (+€33,957) and Trade debts (+€20,653)
- Tangible fixed assets -€33,956
down €33,956 (-9.3%), from €363,962 to €330,006
of which Furniture and vehicles: -€24,812
- Trade debts +€20,653
up €20,653 (+134%), from €15,358 to €36,011
- Reserves -€9,204
down €9,204 (-3.6%), from €253,983 to €244,779
of which Distributable reserves: -€97,504
- Profit (loss) carried forward +€6,135
up €6,135 (+4.7%), from €131,331 to €137,466
- Depreciation +€12,406
up €12,406 (+57.6%), from €21,551 to €33,957
- Other operating charges -€3,860
down €3,860 (-51.9%), from €7,444 to €3,584
- Gross operating margin -€3,637
down €3,637 (-7.8%), from €46,357 to €42,720
- Taxes +€1,777
up €1,777 (+17.5%), from €10,170 to €11,947
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 | €510,335 | €523,799 | +€13,464 | +2.6% |
| Fixed assets | 21/28 | €363,962 | €330,006 | -€33,956 | -9.3% |
| Tangible fixed assets | 22/27 | €363,962 | €330,006 | -€33,956 | -9.3% |
| Land and buildings | 22 | €256,874 | €247,730 | -€9,144 | -3.6% |
| Furniture and vehicles | 24 | €107,088 | €82,276 | -€24,812 | -23.2% |
| Current assets | 29/58 | €146,373 | €193,793 | +€47,420 | +32.4% |
| Amounts receivable within one year | 40/41 | €105,612 | €110,827 | +€5,215 | +4.9% |
| Trade receivables | 40 | €2,299 | €1,725 | -€574 | -25.0% |
| Other amounts receivable | 41 | €103,313 | €109,102 | +€5,789 | +5.6% |
| Cash at bank and in hand | 54/58 | €40,761 | €82,966 | +€42,205 | +104% |
| Total equity and liabilities | 10/49 | €510,335 | €523,799 | +€13,464 | +2.6% |
| Equity | 10/15 | €410,103 | €407,034 | -€3,069 | -0.7% |
| Contributions | 10/11 | €24,789 | €24,789 | -€0 | 0.0% |
| Reserves | 13 | €253,983 | €244,779 | -€9,204 | -3.6% |
| Non-distributable reserves | 130/1 | €2,479 | €2,479 | +€0 | 0.0% |
| Reserves not available under the articles | 1311 | €2,479 | €2,479 | +€0 | 0.0% |
| Tax-exempt reserves | 132 | - | €88,300 | +€88,300 | |
| Distributable reserves | 133 | €251,504 | €154,000 | -€97,504 | -38.8% |
| Profit (loss) carried forward | 14 | €131,331 | €137,466 | +€6,135 | +4.7% |
| Provisions and deferred taxes | 16 | €60,707 | €56,573 | -€4,134 | -6.8% |
| Deferred taxes | 168 | €60,707 | €56,573 | -€4,134 | -6.8% |
| Amounts payable | 17/49 | €39,526 | €60,192 | +€20,666 | +52.3% |
| Amounts payable within one year | 42/48 | €39,178 | €59,792 | +€20,614 | +52.6% |
| Financial debts | 43 | €6,610 | €6,755 | +€145 | +2.2% |
| Credit institutions | 430/8 | €6,610 | €6,755 | +€145 | +2.2% |
| Trade debts | 44 | €15,358 | €36,011 | +€20,653 | +134% |
| Suppliers | 440/4 | €15,358 | €36,011 | +€20,653 | +134% |
| Taxes, remuneration and social security | 45 | €2,000 | - | -€2,000 | |
| Taxes | 450/3 | €2,000 | - | -€2,000 | |
| Other amounts payable | 47/48 | €15,210 | €17,026 | +€1,816 | +11.9% |
| Accrued charges and deferred income | 492/3 | €348 | €400 | +€53 | +15.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,551 | €33,957 | +€12,406 | +57.6% |
| Other operating charges | 640/8 | €7,444 | €3,584 | -€3,860 | -51.9% |
| Gross operating margin | 9900 | €46,357 | €42,720 | -€3,637 | -7.8% |
| Operating profit (loss) | 9901 | €17,362 | €5,179 | -€12,183 | -70.2% |
| Financial income | 75/76B | €391 | €232 | -€159 | -40.7% |
| Recurring financial income | 75 | €391 | €232 | -€159 | -40.7% |
| Financial charges | 65/66B | €706 | €666 | -€40 | -5.7% |
| Recurring financial charges | 65 | €706 | €666 | -€40 | -5.7% |
| Profit (loss) for the period before taxes | 9903 | €17,047 | €4,745 | -€12,302 | -72.2% |
| Transfer from deferred taxes | 780 | €13,337 | €13,337 | +€0 | 0.0% |
| Income taxes | 67/77 | €10,170 | €11,947 | +€1,777 | +17.5% |
| Profit (loss) for the period | 9904 | €20,214 | €6,135 | -€14,079 | -69.6% |
| Profit (loss) for the period to be appropriated | 9905 | €20,214 | €6,135 | -€14,079 | -69.6% |
Source: filed annual accounts (NBB), financial years ended 31 October 2024 and 31 October 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.