ON THE AIR: 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.
ON THE AIR
Largest movements
- Tangible fixed assets -€354,810
down €354,810 (-88.3%), from €401,937 to €47,127
of which Land and buildings: -€354,334
- Receivables within one year -€11,155
down €11,155 (-23.9%), from €46,602 to €35,447
- Cash -€7,458
down €7,458 (-23.9%), from €31,178 to €23,720
mainly Short-term financial debts (-€415,849) and Debts after one year (-€9,148)
- Short-term financial debts -€415,849
down €415,849 (-94.5%), from €440,128 to €24,278
- Trade debts +€20,141
up €20,141 (+62.2%), from €32,405 to €52,546
- Profit (loss) carried forward +€18,737
up €18,737 (+13.1%), from -€143,367 to -€124,629
- Debts after one year -€9,148
down €9,148 (-6.9%), from €131,847 to €122,699
- Tax, wage and social debts +€9,116
up €9,116 (+181%), from €5,049 to €14,165
- Depreciation -€31,374
down €31,374 (-93.6%), from €33,524 to €2,151
- Gross operating margin -€18,895
down €18,895 (-39.4%), from €47,950 to €29,055
- Other operating charges -€12,598
down €12,598 (-85.2%), from €14,790 to €2,192
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 | €481,067 | €106,418 | -€374,648 | -77.9% |
| Fixed assets | 21/28 | €401,987 | €47,177 | -€354,810 | -88.3% |
| Tangible fixed assets | 22/27 | €401,937 | €47,127 | -€354,810 | -88.3% |
| Land and buildings | 22 | €370,667 | €16,333 | -€354,334 | -95.6% |
| Plant, machinery and equipment | 23 | €30,208 | €24,137 | -€6,071 | -20.1% |
| Furniture and vehicles | 24 | €1,062 | €6,657 | +€5,595 | +527% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €79,080 | €59,242 | -€19,838 | -25.1% |
| Amounts receivable within one year | 40/41 | €46,602 | €35,447 | -€11,155 | -23.9% |
| Trade receivables | 40 | €46,602 | €35,447 | -€11,155 | -23.9% |
| Cash at bank and in hand | 54/58 | €31,178 | €23,720 | -€7,458 | -23.9% |
| Deferred charges and accrued income | 490/1 | €1,300 | €75 | -€1,225 | -94.2% |
| Total equity and liabilities | 10/49 | €481,067 | €106,418 | -€374,648 | -77.9% |
| Equity | 10/15 | -€137,167 | -€118,429 | +€18,737 | +13.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€143,367 | -€124,629 | +€18,737 | +13.1% |
| Amounts payable | 17/49 | €618,233 | €224,848 | -€393,386 | -63.6% |
| Amounts payable after more than one year | 17 | €131,847 | €122,699 | -€9,148 | -6.9% |
| Financial debts | 170/4 | €131,847 | €122,699 | -€9,148 | -6.9% |
| Amounts payable within one year | 42/48 | €486,387 | €102,149 | -€384,238 | -79.0% |
| Current portion of amounts payable after more than one year | 42 | €8,805 | €9,148 | +€342 | +3.9% |
| Financial debts | 43 | €440,128 | €24,278 | -€415,849 | -94.5% |
| Credit institutions | 430/8 | €440,128 | €24,278 | -€415,849 | -94.5% |
| Trade debts | 44 | €32,405 | €52,546 | +€20,141 | +62.2% |
| Suppliers | 440/4 | €32,405 | €52,546 | +€20,141 | +62.2% |
| Advances received on contracts in progress | 46 | - | €2,012 | +€2,012 | |
| Taxes, remuneration and social security | 45 | €5,049 | €14,165 | +€9,116 | +181% |
| Taxes | 450/3 | €5,049 | €14,165 | +€9,116 | +181% |
| Non-recurring operating income | 76A | €7,861 | €25,356 | +€17,495 | +223% |
| Remuneration, social security and pensions | 62 | - | €289 | +€289 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,524 | €2,151 | -€31,374 | -93.6% |
| Other operating charges | 640/8 | €14,790 | €2,192 | -€12,598 | -85.2% |
| Gross operating margin | 9900 | €47,950 | €29,055 | -€18,895 | -39.4% |
| Operating profit (loss) | 9901 | -€364 | €24,423 | +€24,788 | |
| Financial income | 75/76B | €1 | €0 | -€1 | -77.2% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -77.2% |
| Financial charges | 65/66B | €5,864 | €5,522 | -€342 | -5.8% |
| Recurring financial charges | 65 | €5,864 | €5,522 | -€342 | -5.8% |
| Profit (loss) for the period before taxes | 9903 | -€6,227 | €18,902 | +€25,129 | |
| Income taxes | 67/77 | €173 | €165 | -€8 | -4.8% |
| Profit (loss) for the period | 9904 | -€6,400 | €18,737 | +€25,137 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,400 | €18,737 | +€25,137 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.