MEDIAFIN: 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.
What changed
MEDIAFIN
NACE 58.120, Publishing activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€10.4m
2024 · €9.2m+€1.2m
Equity
€8.3m
2024 · €6.9m+€1.4m
Cash
€8.7m
2024 · €5.7m+€3.0m
Balance sheet total
€45.1m
2024 · €40.9m+€4.1m
Largest movements
Assets
- Cash +€3.0m
up €3.0m (+52.5%), from €5.7m to €8.7m
mainly Net result for the year (+€10.4m) and Depreciation (+€4.3m)
- Financial fixed assets +€2.9m
up €2.9m (+26.3%), from €10.9m to €13.8m
of which Affiliated companies: +€2.9m
- Receivables after one year -€1.4m
down €1.4m (-73.7%), from €1.9m to €500,000
- Receivables within one year -€747,864
down €747,864 (-5.6%), from €13.4m to €12.6m
of which Trade receivables: -€587,295
- Deferred charges and accrued income +€454,689
up €454,689 (+29.2%), from €1.6m to €2.0m
Equity and liabilities
- Reserves +€1.4m
up €1.4m (+29.1%), from €4.8m to €6.3m
of which Distributable reserves: +€1.4m
- Accrued charges and deferred income +€979,109
up €979,109 (+8.2%), from €12.0m to €13.0m
- Other debts +€786,589
up €786,589 (+14.8%), from €5.3m to €6.1m
- Tax, wage and social debts +€616,074
up €616,074 (+8.4%), from €7.3m to €7.9m
of which Remuneration and social security: +€730,684
Income statement
- Turnover +€5.2m
up €5.2m (+5.9%), from €88.5m to €93.7m
- Staff costs +€2.2m
up €2.2m (+6.3%), from €35.1m to €37.3m
- Goods and materials +€1.8m
up €1.8m (+19.6%), from €9.1m to €10.9m
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
€9.2m
Turnover
+€5.2m
Other operating income
+€315,194
Goods and materials
-€1.8m
Services and other goods
-€145,218
Staff costs
-€2.2m
Depreciation
-€423,379
Write-downs
+€433,904
Provisions
+€330,590
Other operating charges
+€1,318
Financial income
-€566,204
Financial charges
-€147,922
Taxes
+€179,251
Result 2025
€10.4m
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.
From operations
+€18.9m
Investment
-€7.1m
Financing
-€8.7m
Cash 2024
€5.7m
From operations (derived)
+€18.9m
Net result for the year
+€10.4m
Depreciation
+€4.3m
Receivables after one year
+€1.4m
Receivables within one year
+€747,864
Deferred charges and accrued income
-€454,689
Provisions
-€273,874
Trade debts
+€374,236
Tax, wage and social debts
+€616,074
Other debts
+€786,589
Accrued charges and deferred income
+€979,109
Investment (derived)
-€7.1m
Investment in fixed assets (net)
-€7.1m
Current investments
-€5,860
Financing
-€8.7m
Short-term financial debts
+€252,376
Contributions, distributions and other
-€9.0m
Cash 2025
€8.7m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €40,931,818 | €45,076,396 | +€4.1m | +10.1% |
| Fixed assets | 21/28 | €18,331,106 | €21,182,646 | +€2.9m | +15.6% |
| Intangible fixed assets | 21 | €6,323,867 | €6,075,998 | -€247,869 | -3.9% |
| Tangible fixed assets | 22/27 | €1,101,620 | €1,327,580 | +€225,960 | +20.5% |
| Plant, machinery and equipment | 23 | €425,524 | €603,046 | +€177,522 | +41.7% |
| Furniture and vehicles | 24 | €180,928 | €359,404 | +€178,477 | +98.6% |
| Other tangible fixed assets | 26 | €405,908 | €365,130 | -€40,778 | -10.0% |
| Assets under construction and advance payments | 27 | €89,260 | €0 | -€89,260 | -100.0% |
| Financial fixed assets | 28 | €10,905,620 | €13,779,068 | +€2.9m | +26.3% |
| Affiliated companies | 280/1 | €10,839,320 | €13,699,715 | +€2.9m | +26.4% |
| Participating interests | 280 | €10,839,320 | €13,699,715 | +€2.9m | +26.4% |
| Companies linked by participating interests | 282/3 | €18,808 | €33,612 | +€14,803 | +78.7% |
| Participating interests | 282 | €18,808 | €33,612 | +€14,803 | +78.7% |
| Other financial fixed assets | 284/8 | €47,492 | €45,742 | -€1,750 | -3.7% |
| Shares | 284 | €14,732 | €14,732 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €32,760 | €31,010 | -€1,750 | -5.3% |
| Current assets | 29/58 | €22,600,711 | €23,893,749 | +€1.3m | +5.7% |
| Amounts receivable after more than one year | 29 | €1,900,000 | €500,000 | -€1.4m | -73.7% |
| Other amounts receivable | 291 | €1,900,000 | €500,000 | -€1.4m | -73.7% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €13,357,012 | €12,609,148 | -€747,864 | -5.6% |
| Trade receivables | 40 | €12,957,012 | €12,369,717 | -€587,295 | -4.5% |
| Other amounts receivable | 41 | €400,000 | €239,431 | -€160,569 | -40.1% |
| Current investments | 50/53 | €114,579 | €120,439 | +€5,860 | +5.1% |
| Other investments | 51/53 | €114,579 | €120,439 | +€5,860 | +5.1% |
| Cash at bank and in hand | 54/58 | €5,673,048 | €8,653,400 | +€3.0m | +52.5% |
| Deferred charges and accrued income | 490/1 | €1,556,073 | €2,010,762 | +€454,689 | +29.2% |
| Total equity and liabilities | 10/49 | €40,931,818 | €45,076,396 | +€4.1m | +10.1% |
| Equity | 10/15 | €6,856,328 | €8,266,396 | +€1.4m | +20.6% |
| Contributions | 10/11 | €2,000,000 | €2,000,000 | = | 0.0% |
| Capital | 10 | €2,000,000 | €2,000,000 | = | 0.0% |
| Issued capital | 100 | €2,000,000 | €2,000,000 | = | 0.0% |
| Reserves | 13 | €4,846,997 | €6,256,997 | +€1.4m | +29.1% |
| Non-distributable reserves | 130/1 | €200,000 | €200,000 | = | 0.0% |
| Legal reserve | 130 | €200,000 | €200,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €676,997 | €676,997 | = | 0.0% |
| Distributable reserves | 133 | €3,970,000 | €5,380,000 | +€1.4m | +35.5% |
| Profit (loss) carried forward | 14 | €9,331 | €9,399 | +€68 | +0.7% |
| Provisions and deferred taxes | 16 | €2,441,172 | €2,167,298 | -€273,874 | -11.2% |
| Provisions for liabilities and charges | 160/5 | €2,441,172 | €2,167,298 | -€273,874 | -11.2% |
| Pensions and similar obligations | 160 | €2,373,350 | €2,114,997 | -€258,353 | -10.9% |
| Other liabilities and charges | 164/5 | €67,822 | €52,301 | -€15,521 | -22.9% |
| Amounts payable | 17/49 | €31,634,317 | €34,642,701 | +€3.0m | +9.5% |
| Amounts payable within one year | 42/48 | €19,644,330 | €21,673,606 | +€2.0m | +10.3% |
| Financial debts | 43 | - | €252,376 | +€252,376 | |
| Credit institutions | 430/8 | - | €252,376 | +€252,376 | |
| Trade debts | 44 | €7,017,039 | €7,391,275 | +€374,236 | +5.3% |
| Suppliers | 440/4 | €7,017,039 | €7,391,275 | +€374,236 | +5.3% |
| Taxes, remuneration and social security | 45 | €7,329,504 | €7,945,578 | +€616,074 | +8.4% |
| Taxes | 450/3 | €558,020 | €443,410 | -€114,610 | -20.5% |
| Remuneration and social security | 454/9 | €6,771,484 | €7,502,168 | +€730,684 | +10.8% |
| Other amounts payable | 47/48 | €5,297,787 | €6,084,376 | +€786,589 | +14.8% |
| Accrued charges and deferred income | 492/3 | €11,989,987 | €12,969,096 | +€979,109 | +8.2% |
| Operating income | 70/76A | €91,246,230 | €96,809,741 | +€5.6m | +6.1% |
| Turnover | 70 | €88,493,907 | €93,742,223 | +€5.2m | +5.9% |
| Other operating income | 74 | €2,752,323 | €3,067,517 | +€315,194 | +11.5% |
| Operating charges | 60/66A | €79,236,258 | €83,049,545 | +€3.8m | +4.8% |
| Goods for resale, raw materials and consumables | 60 | €9,142,690 | €10,938,008 | +€1.8m | +19.6% |
| Purchases | 600/8 | €9,142,690 | €10,938,008 | +€1.8m | +19.6% |
| Services and other goods | 61 | €30,565,333 | €30,710,551 | +€145,218 | +0.5% |
| Remuneration, social security and pensions | 62 | €35,085,386 | €37,300,570 | +€2.2m | +6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,844,685 | €4,268,064 | +€423,379 | +11.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €162,302 | -€271,602 | -€433,904 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €56,716 | -€273,874 | -€330,590 | |
| Other operating charges | 640/8 | €379,147 | €377,829 | -€1,318 | -0.3% |
| Operating profit (loss) | 9901 | €12,009,972 | €13,760,195 | +€1.8m | +14.6% |
| Financial income | 75/76B | €751,866 | €185,662 | -€566,204 | -75.3% |
| Recurring financial income | 75 | €751,866 | €185,662 | -€566,204 | -75.3% |
| Income from financial fixed assets | 750 | €4,647 | €5,472 | +€826 | +17.8% |
| Income from current assets | 751 | €420,635 | €134,814 | -€285,822 | -67.9% |
| Other financial income | 752/9 | €326,584 | €45,376 | -€281,208 | -86.1% |
| Financial charges | 65/66B | €312,825 | €460,747 | +€147,922 | +47.3% |
| Recurring financial charges | 65 | €312,825 | €460,747 | +€147,922 | +47.3% |
| Debt charges | 650 | €175,738 | €272,571 | +€96,833 | +55.1% |
| Other financial charges | 652/9 | €137,087 | €188,176 | +€51,089 | +37.3% |
| Profit (loss) for the period before taxes | 9903 | €12,449,013 | €13,485,110 | +€1.0m | +8.3% |
| Income taxes | 67/77 | €3,254,293 | €3,075,042 | -€179,251 | -5.5% |
| Taxes | 670/3 | €3,278,287 | €3,083,897 | -€194,390 | -5.9% |
| Tax adjustments and reversals of tax provisions | 77 | €23,994 | €8,855 | -€15,138 | -63.1% |
| Profit (loss) for the period | 9904 | €9,194,719 | €10,410,068 | +€1.2m | +13.2% |
| Profit (loss) for the period to be appropriated | 9905 | €9,194,719 | €10,410,068 | +€1.2m | +13.2% |
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 9 October 2026 via checked.be.