PROJECT MEDIA: 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.
PROJECT MEDIA
Largest movements
- Cash +€34,170
up €34,170 (+5710.2%), from €598 to €34,768
mainly Other debts (+€67,690) and Receivables within one year (+€32,238)
- Receivables within one year -€32,238
down €32,238 (-10.8%), from €297,183 to €264,945
of which Trade receivables: -€24,464
- Deferred charges and accrued income -€15,882
down €15,882 (-94.1%), from €16,878 to €996
- Intangible fixed assets -€7,500
down €7,500 (-50.0%), from €15,014 to €7,514
- Profit (loss) carried forward -€74,226
down €74,226 (-34.0%), from €218,497 to €144,270
- Other debts +€67,690
new in 2025: €67,690
- Tax, wage and social debts +€16,458
up €16,458 (+153.1%), from €10,747 to €27,205
- Trade debts -€11,093
down €11,093 (-20.1%), from €55,091 to €43,998
- Debts after one year -€10,248
down €10,248 (-38.4%), from €26,697 to €16,449
- Write-downs +€22,813
new in 2025: €22,813
- Other operating charges -€11,751
down €11,751 (-59.2%), from €19,837 to €8,086
- Depreciation -€11,276
down €11,276 (-41.6%), from €27,094 to €15,818
- Financial charges -€2,594
down €2,594 (-14.7%), from €17,630 to €15,036
- Taxes +€1,767
up €1,767 (+13.8%), from €12,840 to €14,608
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €373,512 | €355,540 | -€17,972 | -4.8% |
| Fixed assets | 21/28 | €58,853 | €54,832 | -€4,022 | -6.8% |
| Intangible fixed assets | 21 | €15,014 | €7,514 | -€7,500 | -50.0% |
| Tangible fixed assets | 22/27 | €43,839 | €47,318 | +€3,479 | +7.9% |
| Plant, machinery and equipment | 23 | - | €10,509 | +€10,509 | |
| Other tangible fixed assets | 26 | €43,839 | €36,809 | -€7,030 | -16.0% |
| Current assets | 29/58 | €314,659 | €300,709 | -€13,950 | -4.4% |
| Amounts receivable within one year | 40/41 | €297,183 | €264,945 | -€32,238 | -10.8% |
| Trade receivables | 40 | €234,422 | €209,958 | -€24,464 | -10.4% |
| Other amounts receivable | 41 | €62,761 | €54,987 | -€7,774 | -12.4% |
| Cash at bank and in hand | 54/58 | €598 | €34,768 | +€34,170 | +5710.2% |
| Deferred charges and accrued income | 490/1 | €16,878 | €996 | -€15,882 | -94.1% |
| Total equity and liabilities | 10/49 | €373,512 | €355,540 | -€17,972 | -4.8% |
| Equity | 10/15 | €264,177 | €189,950 | -€74,226 | -28.1% |
| Contributions | 10/11 | €40,400 | €40,400 | = | 0.0% |
| Reserves | 13 | €5,280 | €5,280 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,280 | €5,280 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,280 | €5,280 | = | 0.0% |
| Profit (loss) carried forward | 14 | €218,497 | €144,270 | -€74,226 | -34.0% |
| Amounts payable | 17/49 | €109,336 | €165,590 | +€56,254 | +51.5% |
| Amounts payable after more than one year | 17 | €26,697 | €16,449 | -€10,248 | -38.4% |
| Financial debts | 170/4 | €26,697 | €16,449 | -€10,248 | -38.4% |
| Amounts payable within one year | 42/48 | €82,638 | €149,141 | +€66,502 | +80.5% |
| Current portion of amounts payable after more than one year | 42 | €9,708 | €10,248 | +€540 | +5.6% |
| Financial debts | 43 | €7,092 | €0 | -€7,092 | -100.0% |
| Credit institutions | 430/8 | €7,092 | €0 | -€7,092 | -100.0% |
| Trade debts | 44 | €55,091 | €43,998 | -€11,093 | -20.1% |
| Suppliers | 440/4 | €55,091 | €43,998 | -€11,093 | -20.1% |
| Taxes, remuneration and social security | 45 | €10,747 | €27,205 | +€16,458 | +153.1% |
| Taxes | 450/3 | €10,747 | €27,205 | +€16,458 | +153.1% |
| Other amounts payable | 47/48 | - | €67,690 | +€67,690 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,094 | €15,818 | -€11,276 | -41.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €22,813 | +€22,813 | |
| Other operating charges | 640/8 | €19,837 | €8,086 | -€11,751 | -59.2% |
| Gross operating margin | 9900 | €108,089 | €107,202 | -€887 | -0.8% |
| Operating profit (loss) | 9901 | €61,158 | €60,484 | -€673 | -1.1% |
| Financial income | 75/76B | €1,834 | €1,296 | -€538 | -29.3% |
| Recurring financial income | 75 | €1,834 | €1,296 | -€538 | -29.3% |
| Financial charges | 65/66B | €17,630 | €15,036 | -€2,594 | -14.7% |
| Recurring financial charges | 65 | €17,630 | €15,036 | -€2,594 | -14.7% |
| Profit (loss) for the period before taxes | 9903 | €45,362 | €46,745 | +€1,383 | +3.0% |
| Income taxes | 67/77 | €12,840 | €14,608 | +€1,767 | +13.8% |
| Profit (loss) for the period | 9904 | €32,521 | €32,137 | -€384 | -1.2% |
| Profit (loss) for the period to be appropriated | 9905 | €32,521 | €32,137 | -€384 | -1.2% |
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 9 October 2026 via checked.be.