REDHEAD.TV: 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.
REDHEAD.TV
Largest movements
- Cash -€91,223
down €91,223 (-30.1%), from €303,309 to €212,086
mainly Debts after one year (-€160,425) and Contributions, distributions and other (-€90,883)
- Receivables within one year +€84,583
up €84,583 (+120%), from €70,547 to €155,130
of which Trade receivables: +€81,466
- Tangible fixed assets -€33,274
down €33,274 (-5.0%), from €669,886 to €636,611
of which Land and buildings: -€22,281
- Debts after one year -€160,425
down €160,425 (-23.8%), from €674,777 to €514,351
of which Other amounts payable: -€92,030
- Other debts +€90,883
new in 2025: €90,883
- Reserves -€63,763
down €63,763 (-21.3%), from €298,819 to €235,056
- Current portion of long-term debt +€33,025
new in 2025: €33,025
- Tax, wage and social debts +€15,690
up €15,690 (+32.6%), from €48,163 to €63,853
of which Taxes: +€14,813
- Gross operating margin +€59,537
up €59,537 (+26.8%), from €222,244 to €281,780
- Staff costs +€40,409
up €40,409 (+34.1%), from €118,579 to €158,988
- Depreciation +€5,263
up €5,263 (+10.3%), from €50,868 to €56,131
- Financial charges +€3,860
up €3,860 (+18.1%), from €21,282 to €25,142
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 | €1,062,824 | €1,018,438 | -€44,386 | -4.2% |
| Fixed assets | 21/28 | €688,968 | €648,408 | -€40,560 | -5.9% |
| Intangible fixed assets | 21 | €18,859 | €11,558 | -€7,300 | -38.7% |
| Tangible fixed assets | 22/27 | €669,886 | €636,611 | -€33,274 | -5.0% |
| Land and buildings | 22 | €608,483 | €586,202 | -€22,281 | -3.7% |
| Plant, machinery and equipment | 23 | €36,774 | €26,004 | -€10,770 | -29.3% |
| Furniture and vehicles | 24 | €23,712 | €23,760 | +€48 | +0.2% |
| Other tangible fixed assets | 26 | €917 | €645 | -€272 | -29.6% |
| Financial fixed assets | 28 | €224 | €238 | +€15 | +6.5% |
| Current assets | 29/58 | €373,856 | €370,030 | -€3,826 | -1.0% |
| Amounts receivable within one year | 40/41 | €70,547 | €155,130 | +€84,583 | +120% |
| Trade receivables | 40 | €70,499 | €151,966 | +€81,466 | +116% |
| Other amounts receivable | 41 | €48 | €3,165 | +€3,117 | +6,518% |
| Cash at bank and in hand | 54/58 | €303,309 | €212,086 | -€91,223 | -30.1% |
| Deferred charges and accrued income | 490/1 | - | €2,814 | +€2,814 | |
| Total equity and liabilities | 10/49 | €1,062,824 | €1,018,438 | -€44,386 | -4.2% |
| Equity | 10/15 | €299,819 | €236,056 | -€63,763 | -21.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €298,819 | €235,056 | -€63,763 | -21.3% |
| Distributable reserves | 133 | €298,819 | €235,056 | -€63,763 | -21.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €763,005 | €782,382 | +€19,377 | +2.5% |
| Amounts payable after more than one year | 17 | €674,777 | €514,351 | -€160,425 | -23.8% |
| Financial debts | 170/4 | €537,849 | €469,454 | -€68,396 | -12.7% |
| Other amounts payable | 178/9 | €136,927 | €44,898 | -€92,030 | -67.2% |
| Amounts payable within one year | 42/48 | €88,228 | €252,429 | +€164,201 | +186% |
| Current portion of amounts payable after more than one year | 42 | - | €33,025 | +€33,025 | |
| Financial debts | 43 | - | €15,000 | +€15,000 | |
| Credit institutions | 430/8 | - | €15,000 | +€15,000 | |
| Trade debts | 44 | €35,410 | €45,013 | +€9,603 | +27.1% |
| Suppliers | 440/4 | €35,410 | €45,013 | +€9,603 | +27.1% |
| Advances received on contracts in progress | 46 | €4,656 | €4,656 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €48,163 | €63,853 | +€15,690 | +32.6% |
| Taxes | 450/3 | €27,769 | €42,582 | +€14,813 | +53.3% |
| Remuneration and social security | 454/9 | €20,394 | €21,271 | +€877 | +4.3% |
| Other amounts payable | 47/48 | - | €90,883 | +€90,883 | |
| Accrued charges and deferred income | 492/3 | - | €15,601 | +€15,601 | |
| Remuneration, social security and pensions | 62 | €118,579 | €158,988 | +€40,409 | +34.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,868 | €56,131 | +€5,263 | +10.3% |
| Other operating charges | 640/8 | €1,588 | €3,225 | +€1,637 | +103% |
| Gross operating margin | 9900 | €222,244 | €281,780 | +€59,537 | +26.8% |
| Operating profit (loss) | 9901 | €51,209 | €63,436 | +€12,227 | +23.9% |
| Financial income | 75/76B | €11 | €186 | +€174 | +1,537% |
| Recurring financial income | 75 | €11 | €186 | +€174 | +1,537% |
| Financial charges | 65/66B | €21,282 | €25,142 | +€3,860 | +18.1% |
| Recurring financial charges | 65 | €21,282 | €25,142 | +€3,860 | +18.1% |
| Profit (loss) for the period before taxes | 9903 | €29,939 | €38,480 | +€8,542 | +28.5% |
| Income taxes | 67/77 | €11,731 | €11,360 | -€371 | -3.2% |
| Profit (loss) for the period | 9904 | €18,208 | €27,120 | +€8,912 | +48.9% |
| Profit (loss) for the period to be appropriated | 9905 | €18,208 | €27,120 | +€8,912 | +48.9% |
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 24 October 2026 via checked.be.