MediaNation: 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
MediaNation
NACE 64.210, Activities of holding companies
financial year 2024 compared with 2023filed annual accounts (NBB)
Net result for the year
-€811,030
2023 · -€8.3m+€7.5m
Equity
€1.5m
2023 · -€19.8m+€21.3m
Cash
€9,012
2023 · €26,630-€17,618
Balance sheet total
€2.1m
2023 · €3.2m-€1.1m
Largest movements
Assets
- Intangible fixed assets -€1.0m
down €1.0m (-36.7%), from €2.7m to €1.7m
- Formation expenses -€35,827
down €35,827 (-23.5%), from €152,641 to €116,814
Equity and liabilities
- Debts after one year -€21.4m
down €21.4m (-98.9%), from €21.7m to €237,113
- Profit (loss) carried forward +€13.1m
up €13.1m (+59.0%), from -€22.2m to -€9.1m
- Contributions +€8.3m
up €8.3m (+353%), from €2.3m to €10.6m
of which Capital: +€8.3m
- Trade debts -€999,430
down €999,430 (-77.6%), from €1.3m to €288,522
Income statement
- Gross operating margin +€1.8m
no longer reported in 2024 (was -€1.8m)
- Turnover +€1.1m
new in 2024: €1.1m
- Financial charges -€923,234
down €923,234 (-62.4%), from €1.5m to €555,569
of which Financial charges: -€643,234
- Depreciation -€574,449
down €574,449 (-44.2%), from €1.3m to €725,265
- Staff costs -€192,222
down €192,222 (-64.2%), from €299,396 to €107,174
From the 2023 result to the 2024 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 2023
-€8.3m
Turnover
+€1.1m
Other operating income
+€2,882
Goods and materials
-€6,457
Services and other goods
-€104,324
Staff costs
+€192,222
Depreciation
+€574,449
Write-downs
-€19,461
Other operating charges
-€24,056
Other operating items
+€4.9m
Financial income
-€1,346
Financial charges
+€923,234
Taxes
+€394
Result 2024
-€811,030
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
-€1.1m
Investment
+€321,204
Financing
+€713,085
Cash 2023
€26,630
From operations (derived)
-€1.1m
Net result for the year
-€811,030
Depreciation
+€725,265
Smaller working-capital items
+€33,289
Trade debts
-€999,430
Investment (derived)
+€321,204
Investment in fixed assets (net)
+€321,204
Financing
+€713,085
Debts after one year
-€21.4m
Contributions, distributions and other
+€22.2m
Cash 2024
€9,012
brings cash intakes cash out
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,202,297 | €2,106,507 | -€1.1m | -34.2% |
| Formation expenses | 20 | €152,641 | €116,814 | -€35,827 | -23.5% |
| Fixed assets | 21/28 | €2,768,573 | €1,757,931 | -€1.0m | -36.5% |
| Intangible fixed assets | 21 | €2,728,466 | €1,728,138 | -€1.0m | -36.7% |
| Tangible fixed assets | 22/27 | €35,206 | €22,498 | -€12,708 | -36.1% |
| Plant, machinery and equipment | 23 | €62 | €0 | -€62 | -100% |
| Furniture and vehicles | 24 | €1,801 | €270 | -€1,532 | -85.0% |
| Other tangible fixed assets | 26 | €33,343 | €22,229 | -€11,114 | -33.3% |
| Financial fixed assets | 28 | €4,900 | €7,295 | +€2,395 | +48.9% |
| Other financial fixed assets | 284/8 | - | €7,295 | +€7,295 | |
| Amounts receivable and cash guarantees | 285/8 | - | €7,295 | +€7,295 | |
| Current assets | 29/58 | €281,083 | €231,761 | -€49,321 | -17.5% |
| Stocks and contracts in progress | 3 | €26,521 | €6,487 | -€20,034 | -75.5% |
| Stocks | 30/36 | €26,521 | €6,487 | -€20,034 | -75.5% |
| Goods purchased for resale | 34 | - | €6,487 | +€6,487 | |
| Amounts receivable within one year | 40/41 | €200,559 | €215,907 | +€15,348 | +7.7% |
| Trade receivables | 40 | €161,711 | €151,916 | -€9,795 | -6.1% |
| Other amounts receivable | 41 | €38,848 | €63,991 | +€25,143 | +64.7% |
| Cash at bank and in hand | 54/58 | €26,630 | €9,012 | -€17,618 | -66.2% |
| Deferred charges and accrued income | 490/1 | €27,372 | €356 | -€27,016 | -98.7% |
| Total equity and liabilities | 10/49 | €3,202,297 | €2,106,507 | -€1.1m | -34.2% |
| Equity | 10/15 | -€19,814,555 | €1,524,414 | +€21.3m | |
| Contributions | 10/11 | €2,343,992 | €10,618,032 | +€8.3m | +353% |
| Capital | 10 | €2,325,400 | €10,599,440 | +€8.3m | +356% |
| Issued capital | 100 | €2,325,400 | €10,599,440 | +€8.3m | +356% |
| Contributions outside capital | 11 | €18,592 | €18,592 | = | 0.0% |
| Share premium | 1100/10 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€22,160,407 | -€9,095,477 | +€13.1m | +59.0% |
| Amounts payable | 17/49 | €23,016,852 | €582,092 | -€22.4m | -97.5% |
| Amounts payable after more than one year | 17 | €21,674,028 | €237,113 | -€21.4m | -98.9% |
| Financial debts | 170/4 | €21,674,028 | €237,113 | -€21.4m | -98.9% |
| Other loans | 174 | - | €237,113 | +€237,113 | |
| Amounts payable within one year | 42/48 | €1,302,924 | €305,079 | -€997,844 | -76.6% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €1,287,953 | €288,522 | -€999,430 | -77.6% |
| Suppliers | 440/4 | €1,287,953 | €288,522 | -€999,430 | -77.6% |
| Taxes, remuneration and social security | 45 | €14,971 | €16,557 | +€1,586 | +10.6% |
| Taxes | 450/3 | €335 | €353 | +€18 | +5.4% |
| Remuneration and social security | 454/9 | €14,636 | €16,204 | +€1,568 | +10.7% |
| Accrued charges and deferred income | 492/3 | €39,900 | €39,900 | = | 0.0% |
| Operating income | 70/76A | - | €1,053,225 | +€1.1m | |
| Turnover | 70 | - | €1,050,343 | +€1.1m | |
| Other operating income | 74 | - | €2,882 | +€2,882 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Operating charges | 60/66A | - | €1,310,602 | +€1.3m | |
| Goods for resale, raw materials and consumables | 60 | - | €6,457 | +€6,457 | |
| Purchases | 600/8 | - | €5,884 | +€5,884 | |
| Change in stocks: decrease (increase) | 609 | - | €573 | +€573 | |
| Services and other goods | 61 | - | €104,324 | +€104,324 | |
| Remuneration, social security and pensions | 62 | €299,396 | €107,174 | -€192,222 | -64.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,299,714 | €725,265 | -€574,449 | -44.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €19,461 | +€19,461 | |
| Other operating charges | 640/8 | €266 | €24,321 | +€24,056 | +9,054% |
| Non-recurring operating charges | 66A | €3,397,967 | €323,599 | -€3.1m | -90.5% |
| Gross operating margin | 9900 | -€1,811,168 | - | +€1.8m | |
| Operating profit (loss) | 9901 | -€6,808,511 | -€257,377 | +€6.6m | +96.2% |
| Financial income | 75/76B | €3,202 | €1,857 | -€1,346 | -42.0% |
| Recurring financial income | 75 | €3,202 | €1,857 | -€1,346 | -42.0% |
| Income from financial fixed assets | 750 | - | €0 | = | |
| Other financial income | 752/9 | - | €1,857 | +€1,857 | |
| Financial charges | 65/66B | €1,478,803 | €555,569 | -€923,234 | -62.4% |
| Recurring financial charges | 65 | €1,198,803 | €555,569 | -€643,234 | -53.7% |
| Debt charges | 650 | - | €545,356 | +€545,356 | |
| Other financial charges | 652/9 | - | €10,213 | +€10,213 | |
| Non-recurring financial charges | 66B | €280,000 | €0 | -€280,000 | -100% |
| Profit (loss) for the period before taxes | 9903 | -€8,284,112 | -€811,089 | +€7.5m | +90.2% |
| Income taxes | 67/77 | €335 | -€59 | -€394 | |
| Taxes | 670/3 | - | €276 | +€276 | |
| Tax adjustments and reversals of tax provisions | 77 | - | €335 | +€335 | |
| Profit (loss) for the period | 9904 | -€8,284,447 | -€811,030 | +€7.5m | +90.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,284,447 | -€811,030 | +€7.5m | +90.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.