MEDIAXEL: 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.
MEDIAXEL
Largest movements
- Receivables within one year +€37,215
up €37,215 (+309%), from €12,035 to €49,251
of which Trade receivables: +€38,018
- Cash -€23,692
down €23,692 (-87.8%), from €26,986 to €3,294
mainly Receivables within one year (-€37,215) and Tax, wage and social debts (-€13,957)
- Tangible fixed assets -€11,564
down €11,564 (-80.0%), from €14,456 to €2,891
- Deferred charges and accrued income -€670
down €670 (-36.0%), from €1,864 to €1,193
- Trade debts +€24,586
up €24,586 (+36.4%), from €67,479 to €92,066
- Tax, wage and social debts -€13,957
down €13,957 (-30.6%), from €45,543 to €31,587
of which Taxes: -€7,514
- Profit (loss) carried forward -€8,085
down €8,085 (-7.9%), from -€101,852 to -€109,937
- Other debts -€3,012
down €3,012 (-10.1%), from €29,679 to €26,666
- Accrued charges and deferred income +€1,625
new in 2025: €1,625
- Gross operating margin +€61,018
up €61,018 (+95.0%), from €64,199 to €125,217
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 | €61,310 | €62,467 | +€1,157 | +1.9% |
| Fixed assets | 21/28 | €20,424 | €8,729 | -€11,696 | -57.3% |
| Tangible fixed assets | 22/27 | €14,456 | €2,891 | -€11,564 | -80.0% |
| Furniture and vehicles | 24 | €14,456 | €2,891 | -€11,564 | -80.0% |
| Financial fixed assets | 28 | €5,969 | €5,837 | -€131 | -2.2% |
| Current assets | 29/58 | €40,885 | €53,738 | +€12,853 | +31.4% |
| Amounts receivable within one year | 40/41 | €12,035 | €49,251 | +€37,215 | +309% |
| Trade receivables | 40 | €11,213 | €49,231 | +€38,018 | +339% |
| Other amounts receivable | 41 | €822 | €20 | -€802 | -97.6% |
| Cash at bank and in hand | 54/58 | €26,986 | €3,294 | -€23,692 | -87.8% |
| Deferred charges and accrued income | 490/1 | €1,864 | €1,193 | -€670 | -36.0% |
| Total equity and liabilities | 10/49 | €61,310 | €62,467 | +€1,157 | +1.9% |
| Equity | 10/15 | -€81,392 | -€89,477 | -€8,085 | -9.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€101,852 | -€109,937 | -€8,085 | -7.9% |
| Amounts payable | 17/49 | €142,701 | €151,944 | +€9,242 | +6.5% |
| Amounts payable within one year | 42/48 | €142,701 | €150,319 | +€7,617 | +5.3% |
| Trade debts | 44 | €67,479 | €92,066 | +€24,586 | +36.4% |
| Suppliers | 440/4 | €67,479 | €92,066 | +€24,586 | +36.4% |
| Taxes, remuneration and social security | 45 | €45,543 | €31,587 | -€13,957 | -30.6% |
| Taxes | 450/3 | €19,132 | €11,619 | -€7,514 | -39.3% |
| Remuneration and social security | 454/9 | €26,411 | €19,968 | -€6,443 | -24.4% |
| Other amounts payable | 47/48 | €29,679 | €26,666 | -€3,012 | -10.1% |
| Accrued charges and deferred income | 492/3 | - | €1,625 | +€1,625 | |
| Non-recurring operating income | 76A | €2,164 | - | -€2,164 | |
| Remuneration, social security and pensions | 62 | €96,029 | €96,384 | +€355 | +0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,564 | €11,564 | = | 0.0% |
| Other operating charges | 640/8 | €2,339 | €2,263 | -€75 | -3.2% |
| Non-recurring operating charges | 66A | €5,757 | €20,533 | +€14,776 | +257% |
| Gross operating margin | 9900 | €64,199 | €125,217 | +€61,018 | +95.0% |
| Operating profit (loss) | 9901 | -€51,489 | -€5,527 | +€45,963 | +89.3% |
| Financial income | 75/76B | €2 | €130 | +€128 | +8,433% |
| Recurring financial income | 75 | €2 | €130 | +€128 | +8,433% |
| Financial charges | 65/66B | €1,086 | €2,157 | +€1,071 | +98.6% |
| Recurring financial charges | 65 | €1,086 | €2,157 | +€1,071 | +98.6% |
| Profit (loss) for the period before taxes | 9903 | -€52,574 | -€7,554 | +€45,020 | +85.6% |
| Income taxes | 67/77 | €281 | €531 | +€251 | +89.2% |
| Profit (loss) for the period | 9904 | -€52,855 | -€8,085 | +€44,770 | +84.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€52,855 | -€8,085 | +€44,770 | +84.7% |
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 16 October 2026 via checked.be.