RED SOUND: 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.
RED SOUND
Largest movements
- Receivables within one year +€124,441
up €124,441 (+68.2%), from €182,382 to €306,824
of which Trade receivables: +€100,906
- Tangible fixed assets +€93,606
up €93,606 (+29.5%), from €317,533 to €411,140
of which Plant, machinery and equipment: +€57,095
- Cash -€16,636
down €16,636 (-15.7%), from €105,795 to €89,159
mainly Investment in fixed assets (net) (-€197,795) and Receivables within one year (-€124,441)
- Trade debts +€211,733
up €211,733 (+307.9%), from €68,762 to €280,496
- Reserves +€105,997
up €105,997 (+39.3%), from €269,389 to €375,385
- Other debts -€74,621
down €74,621 (-39.8%), from €187,695 to €113,074
- Tax, wage and social debts -€31,182
down €31,182 (-59.2%), from €52,693 to €21,511
of which Taxes: -€41,499
- Financial income +€23,676
new in 2025: €23,676
of which Non-recurring financial income: +€23,571
- Gross operating margin -€22,792
down €22,792 (-8.4%), from €270,161 to €247,369
- Depreciation +€18,292
up €18,292 (+21.3%), from €85,897 to €104,189
- Financial charges +€16,811
up €16,811 (+151.2%), from €11,115 to €27,925
of which Non-recurring financial charges: +€18,913
- Taxes -€13,765
down €13,765 (-31.7%), from €43,375 to €29,611
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 | €608,116 | €813,227 | +€205,112 | +33.7% |
| Fixed assets | 21/28 | €317,533 | €411,140 | +€93,606 | +29.5% |
| Intangible fixed assets | 21 | €0 | - | -€0 | |
| Tangible fixed assets | 22/27 | €317,533 | €411,140 | +€93,606 | +29.5% |
| Plant, machinery and equipment | 23 | €205,609 | €262,703 | +€57,095 | +27.8% |
| Furniture and vehicles | 24 | €111,924 | €148,436 | +€36,512 | +32.6% |
| Current assets | 29/58 | €290,582 | €402,088 | +€111,506 | +38.4% |
| Amounts receivable within one year | 40/41 | €182,382 | €306,824 | +€124,441 | +68.2% |
| Trade receivables | 40 | €182,382 | €283,289 | +€100,906 | +55.3% |
| Other amounts receivable | 41 | - | €23,535 | +€23,535 | |
| Cash at bank and in hand | 54/58 | €105,795 | €89,159 | -€16,636 | -15.7% |
| Deferred charges and accrued income | 490/1 | €2,405 | €6,105 | +€3,700 | +153.9% |
| Total equity and liabilities | 10/49 | €608,116 | €813,227 | +€205,112 | +33.7% |
| Equity | 10/15 | €274,389 | €380,385 | +€105,997 | +38.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €269,389 | €375,385 | +€105,997 | +39.3% |
| Distributable reserves | 133 | €269,389 | €375,385 | +€105,997 | +39.3% |
| Amounts payable | 17/49 | €333,727 | €432,842 | +€99,115 | +29.7% |
| Amounts payable after more than one year | 17 | €14,695 | €7,530 | -€7,165 | -48.8% |
| Financial debts | 170/4 | €14,695 | €7,530 | -€7,165 | -48.8% |
| Amounts payable within one year | 42/48 | €315,966 | €422,245 | +€106,278 | +33.6% |
| Current portion of amounts payable after more than one year | 42 | €6,817 | €7,165 | +€348 | +5.1% |
| Trade debts | 44 | €68,762 | €280,496 | +€211,733 | +307.9% |
| Suppliers | 440/4 | €68,762 | €280,496 | +€211,733 | +307.9% |
| Taxes, remuneration and social security | 45 | €52,693 | €21,511 | -€31,182 | -59.2% |
| Taxes | 450/3 | €52,693 | €11,194 | -€41,499 | -78.8% |
| Remuneration and social security | 454/9 | - | €10,317 | +€10,317 | |
| Other amounts payable | 47/48 | €187,695 | €113,074 | -€74,621 | -39.8% |
| Accrued charges and deferred income | 492/3 | €3,066 | €3,067 | +€1 | 0.0% |
| Remuneration, social security and pensions | 62 | €322 | - | -€322 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,897 | €104,189 | +€18,292 | +21.3% |
| Other operating charges | 640/8 | €1,264 | €2,781 | +€1,517 | +120.0% |
| Non-recurring operating charges | 66A | - | €542 | +€542 | |
| Gross operating margin | 9900 | €270,161 | €247,369 | -€22,792 | -8.4% |
| Operating profit (loss) | 9901 | €182,678 | €139,857 | -€42,822 | -23.4% |
| Financial income | 75/76B | - | €23,676 | +€23,676 | |
| Recurring financial income | 75 | - | €104 | +€104 | |
| Non-recurring financial income | 76B | - | €23,571 | +€23,571 | |
| Financial charges | 65/66B | €11,115 | €27,925 | +€16,811 | +151.2% |
| Recurring financial charges | 65 | €4,123 | €2,020 | -€2,103 | -51.0% |
| Non-recurring financial charges | 66B | €6,991 | €25,905 | +€18,913 | +270.5% |
| Profit (loss) for the period before taxes | 9903 | €171,564 | €135,607 | -€35,956 | -21.0% |
| Income taxes | 67/77 | €43,375 | €29,611 | -€13,765 | -31.7% |
| Profit (loss) for the period | 9904 | €128,188 | €105,997 | -€22,192 | -17.3% |
| Profit (loss) for the period to be appropriated | 9905 | €128,188 | €105,997 | -€22,192 | -17.3% |
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 12 October 2026 via checked.be.