SAT & SOUND: what changed
Two fiscal 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.
SAT & SOUND
Largest movements
- Receivables within one year -€33,654
down €33,654 (-69.6%), from €48,332 to €14,679
of which Trade receivables: -€31,962
- Stocks and contracts -€20,805
down €20,805 (-11.8%), from €176,990 to €156,186
- Cash +€7,617
up €7,617 (+629.1%), from €1,211 to €8,828
mainly Net result for the year (+€38,667) and Receivables within one year (+€33,654)
- Short-term financial debts -€53,250
down €53,250 (-45.0%), from €118,250 to €65,000
- Profit (loss) carried forward +€34,913
up €34,913, from -€34,913 to €0
- Other debts -€30,469
down €30,469 (-55.4%), from €54,982 to €24,513
- Current portion of long-term debt -€6,855
down €6,855 (-100.0%), from €6,855 to €0
- Reserves +€3,754
up €3,754 (+8.1%), from €46,238 to €49,992
of which Distributable reserves: +€3,754
- Financial income +€35,503
up €35,503 (+8133.3%), from €437 to €35,939
- Depreciation -€17,000
down €17,000 (-91.8%), from €18,515 to €1,515
- Write-downs -€5,854
down €5,854 (-22.3%), from €26,279 to €20,425
- Gross operating margin -€1,225
down €1,225 (-2.9%), from €41,809 to €40,583
- Other operating charges +€1,126
up €1,126 (+29.0%), from €3,884 to €5,010
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 | €235,339 | €186,725 | -€48,614 | -20.7% |
| Fixed assets | 21/28 | €4,430 | €2,915 | -€1,515 | -34.2% |
| Intangible fixed assets | 21 | €123 | €74 | -€49 | -39.8% |
| Tangible fixed assets | 22/27 | €4,308 | €2,842 | -€1,466 | -34.0% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €133 | €51 | -€82 | -62.0% |
| Furniture and vehicles | 24 | €4,175 | €2,791 | -€1,384 | -33.1% |
| Current assets | 29/58 | €230,908 | €183,809 | -€47,099 | -20.4% |
| Stocks and contracts in progress | 3 | €176,990 | €156,186 | -€20,805 | -11.8% |
| Stocks | 30/36 | €176,990 | €156,186 | -€20,805 | -11.8% |
| Amounts receivable within one year | 40/41 | €48,332 | €14,679 | -€33,654 | -69.6% |
| Trade receivables | 40 | €44,429 | €12,468 | -€31,962 | -71.9% |
| Other amounts receivable | 41 | €3,903 | €2,211 | -€1,692 | -43.4% |
| Cash at bank and in hand | 54/58 | €1,211 | €8,828 | +€7,617 | +629.1% |
| Deferred charges and accrued income | 490/1 | €4,375 | €4,117 | -€258 | -5.9% |
| Total equity and liabilities | 10/49 | €235,339 | €186,725 | -€48,614 | -20.7% |
| Equity | 10/15 | €48,509 | €87,176 | +€38,667 | +79.7% |
| Contributions | 10/11 | €37,184 | €37,184 | = | 0.0% |
| Reserves | 13 | €46,238 | €49,992 | +€3,754 | +8.1% |
| Tax-exempt reserves | 132 | €2,541 | €2,541 | = | 0.0% |
| Distributable reserves | 133 | €43,697 | €47,451 | +€3,754 | +8.6% |
| Profit (loss) carried forward | 14 | -€34,913 | €0 | +€34,913 | |
| Amounts payable | 17/49 | €186,830 | €99,549 | -€87,281 | -46.7% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €186,830 | €98,143 | -€88,687 | -47.5% |
| Current portion of amounts payable after more than one year | 42 | €6,855 | €0 | -€6,855 | -100.0% |
| Financial debts | 43 | €118,250 | €65,000 | -€53,250 | -45.0% |
| Credit institutions | 430/8 | €118,250 | €65,000 | -€53,250 | -45.0% |
| Trade debts | 44 | €3,808 | €5,793 | +€1,985 | +52.1% |
| Suppliers | 440/4 | €3,808 | €5,793 | +€1,985 | +52.1% |
| Taxes, remuneration and social security | 45 | €2,935 | €2,836 | -€99 | -3.4% |
| Taxes | 450/3 | €2,935 | €2,836 | -€99 | -3.4% |
| Other amounts payable | 47/48 | €54,982 | €24,513 | -€30,469 | -55.4% |
| Accrued charges and deferred income | 492/3 | - | €1,406 | +€1,406 | |
| Non-recurring operating income | 76A | - | €11,765 | +€11,765 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,515 | €1,515 | -€17,000 | -91.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €26,279 | €20,425 | -€5,854 | -22.3% |
| Other operating charges | 640/8 | €3,884 | €5,010 | +€1,126 | +29.0% |
| Gross operating margin | 9900 | €41,809 | €40,583 | -€1,225 | -2.9% |
| Operating profit (loss) | 9901 | -€6,869 | €13,633 | +€20,503 | |
| Financial income | 75/76B | €437 | €35,939 | +€35,503 | +8133.3% |
| Recurring financial income | 75 | €437 | €35,939 | +€35,503 | +8133.3% |
| Financial charges | 65/66B | €10,132 | €10,658 | +€526 | +5.2% |
| Recurring financial charges | 65 | €10,132 | €10,658 | +€526 | +5.2% |
| Profit (loss) for the period before taxes | 9903 | -€16,565 | €38,914 | +€55,480 | |
| Income taxes | 67/77 | €279 | €248 | -€32 | -11.3% |
| Profit (loss) for the period | 9904 | -€16,844 | €38,667 | +€55,511 | |
| Profit (loss) for the period to be appropriated | 9905 | -€16,844 | €38,667 | +€55,511 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.