MUCH COMMUNICATION: 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.
MUCH COMMUNICATION
Largest movements
- Tangible fixed assets -€15,640
down €15,640 (-19.3%), from €81,210 to €65,569
- Deferred charges and accrued income +€3,049
new in 2025: €3,049
- Receivables within one year -€2,901
down €2,901 (-1.6%), from €176,450 to €173,550
of which Other amounts receivable: -€14,869
- Debts after one year -€9,190
down €9,190 (-17.6%), from €52,087 to €42,897
- Tax, wage and social debts +€8,324
up €8,324 (+79.1%), from €10,518 to €18,842
of which Taxes: +€8,352
- Profit (loss) carried forward -€7,948
down €7,948 (-12.3%), from €64,857 to €56,909
- Trade debts -€6,995
down €6,995 (-6.5%), from €107,942 to €100,947
- Other debts +€4,351
new in 2025: €4,351
- Gross operating margin +€29,733
up €29,733 (+57.7%), from €51,515 to €81,248
- Staff costs +€19,832
up €19,832 (+52.3%), from €37,897 to €57,729
- Purchases and services +€12,164
up €12,164 (+21.5%), from €56,516 to €68,680
- Financial charges +€5,192
up €5,192 (+789%), from €658 to €5,850
- Taxes -€4,594
down €4,594 (-35.6%), from €12,905 to €8,311
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €257,660 | €242,168 | -€15,492 | -6.0% |
| Fixed assets | 21/28 | €81,210 | €65,569 | -€15,640 | -19.3% |
| Tangible fixed assets | 22/27 | €81,210 | €65,569 | -€15,640 | -19.3% |
| Land and buildings | 22 | €1,707 | €1,422 | -€284 | -16.7% |
| Plant, machinery and equipment | 23 | €22,992 | €18,870 | -€4,122 | -17.9% |
| Furniture and vehicles | 24 | €18,356 | €13,778 | -€4,577 | -24.9% |
| Other tangible fixed assets | 26 | €38,155 | €31,499 | -€6,657 | -17.4% |
| Current assets | 29/58 | €176,450 | €176,599 | +€149 | +0.1% |
| Amounts receivable within one year | 40/41 | €176,450 | €173,550 | -€2,901 | -1.6% |
| Trade receivables | 40 | €72,032 | €84,000 | +€11,968 | +16.6% |
| Other amounts receivable | 41 | €104,418 | €89,550 | -€14,869 | -14.2% |
| Deferred charges and accrued income | 490/1 | - | €3,049 | +€3,049 | |
| Total equity and liabilities | 10/49 | €257,660 | €242,168 | -€15,492 | -6.0% |
| Equity | 10/15 | €73,057 | €65,109 | -€7,948 | -10.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €64,857 | €56,909 | -€7,948 | -12.3% |
| Amounts payable | 17/49 | €184,603 | €177,059 | -€7,544 | -4.1% |
| Amounts payable after more than one year | 17 | €52,087 | €42,897 | -€9,190 | -17.6% |
| Financial debts | 170/4 | €52,087 | €42,897 | -€9,190 | -17.6% |
| Amounts payable within one year | 42/48 | €132,516 | €134,162 | +€1,646 | +1.2% |
| Current portion of amounts payable after more than one year | 42 | €9,190 | €9,190 | = | 0.0% |
| Financial debts | 43 | €4,867 | €832 | -€4,034 | -82.9% |
| Credit institutions | 430/8 | €4,867 | €832 | -€4,034 | -82.9% |
| Trade debts | 44 | €107,942 | €100,947 | -€6,995 | -6.5% |
| Suppliers | 440/4 | €107,942 | €100,947 | -€6,995 | -6.5% |
| Taxes, remuneration and social security | 45 | €10,518 | €18,842 | +€8,324 | +79.1% |
| Taxes | 450/3 | €4,778 | €13,130 | +€8,352 | +175% |
| Remuneration and social security | 454/9 | €5,739 | €5,712 | -€27 | -0.5% |
| Other amounts payable | 47/48 | - | €4,351 | +€4,351 | |
| Goods, raw materials, services and sundry goods | 60/61 | €56,516 | €68,680 | +€12,164 | +21.5% |
| Remuneration, social security and pensions | 62 | €37,897 | €57,729 | +€19,832 | +52.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,182 | €15,529 | +€1,347 | +9.5% |
| Other operating charges | 640/8 | €969 | €1,777 | +€808 | +83.3% |
| Gross operating margin | 9900 | €51,515 | €81,248 | +€29,733 | +57.7% |
| Operating profit (loss) | 9901 | -€1,533 | €6,213 | +€7,746 | |
| Financial charges | 65/66B | €658 | €5,850 | +€5,192 | +789% |
| Recurring financial charges | 65 | €658 | €5,850 | +€5,192 | +789% |
| Profit (loss) for the period before taxes | 9903 | -€2,191 | €363 | +€2,554 | |
| Income taxes | 67/77 | €12,905 | €8,311 | -€4,594 | -35.6% |
| Profit (loss) for the period | 9904 | -€15,096 | -€7,948 | +€7,148 | +47.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,096 | -€7,948 | +€7,148 | +47.4% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.