SEAGULL ADVERTISING: 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.
SEAGULL ADVERTISING
Largest movements
- Cash +€93,710
up €93,710 (+50.4%), from €186,114 to €279,824
mainly Net result for the year (+€41,273) and Depreciation (+€33,800)
- Tangible fixed assets -€28,840
down €28,840 (-7.4%), from €392,358 to €363,518
of which Land and buildings: -€15,290
- Receivables within one year -€25,735
down €25,735 (-12.1%), from €212,612 to €186,876
- Reserves +€31,273
up €31,273 (+5.8%), from €539,445 to €570,718
of which Distributable reserves: +€38,069
- Trade debts +€24,429
up €24,429 (+95.2%), from €25,648 to €50,077
- Tax, wage and social debts -€21,853
down €21,853 (-50.8%), from €43,004 to €21,151
of which Taxes: -€22,178
- Gross operating margin -€75,389
down €75,389 (-43.9%), from €171,702 to €96,313
- Taxes -€16,233
down €16,233 (-54.5%), from €29,786 to €13,554
- Depreciation -€11,011
down €11,011 (-24.6%), from €44,812 to €33,800
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 | €792,449 | €831,797 | +€39,349 | +5.0% |
| Fixed assets | 21/28 | €392,358 | €363,518 | -€28,840 | -7.4% |
| Tangible fixed assets | 22/27 | €392,358 | €363,518 | -€28,840 | -7.4% |
| Land and buildings | 22 | €342,778 | €327,488 | -€15,290 | -4.5% |
| Plant, machinery and equipment | 23 | €1,943 | €1,507 | -€436 | -22.4% |
| Furniture and vehicles | 24 | €47,637 | €34,523 | -€13,114 | -27.5% |
| Current assets | 29/58 | €400,091 | €468,279 | +€68,188 | +17.0% |
| Amounts receivable within one year | 40/41 | €212,612 | €186,876 | -€25,735 | -12.1% |
| Trade receivables | 40 | €212,612 | €186,876 | -€25,735 | -12.1% |
| Cash at bank and in hand | 54/58 | €186,114 | €279,824 | +€93,710 | +50.4% |
| Deferred charges and accrued income | 490/1 | €1,365 | €1,579 | +€214 | +15.6% |
| Total equity and liabilities | 10/49 | €792,449 | €831,797 | +€39,349 | +5.0% |
| Equity | 10/15 | €701,945 | €733,218 | +€31,273 | +4.5% |
| Contributions | 10/11 | €162,500 | €162,500 | = | 0.0% |
| Reserves | 13 | €539,445 | €570,718 | +€31,273 | +5.8% |
| Non-distributable reserves | 130/1 | €16,250 | €16,250 | = | 0.0% |
| Reserves not available under the articles | 1311 | €16,250 | €16,250 | = | 0.0% |
| Tax-exempt reserves | 132 | €28,912 | €22,116 | -€6,796 | -23.5% |
| Distributable reserves | 133 | €494,283 | €532,352 | +€38,069 | +7.7% |
| Provisions and deferred taxes | 16 | €6,662 | €4,396 | -€2,265 | -34.0% |
| Deferred taxes | 168 | €6,662 | €4,396 | -€2,265 | -34.0% |
| Amounts payable | 17/49 | €83,842 | €94,183 | +€10,341 | +12.3% |
| Amounts payable after more than one year | 17 | €3,256 | €3,256 | = | 0.0% |
| Other amounts payable | 178/9 | €3,256 | €3,256 | = | 0.0% |
| Amounts payable within one year | 42/48 | €80,587 | €90,928 | +€10,341 | +12.8% |
| Financial debts | 43 | €1,934 | €1,928 | -€6 | -0.3% |
| Credit institutions | 430/8 | €1,934 | €1,928 | -€6 | -0.3% |
| Trade debts | 44 | €25,648 | €50,077 | +€24,429 | +95.2% |
| Suppliers | 440/4 | €25,648 | €50,077 | +€24,429 | +95.2% |
| Taxes, remuneration and social security | 45 | €43,004 | €21,151 | -€21,853 | -50.8% |
| Taxes | 450/3 | €32,908 | €10,730 | -€22,178 | -67.4% |
| Remuneration and social security | 454/9 | €10,097 | €10,422 | +€325 | +3.2% |
| Other amounts payable | 47/48 | €10,000 | €17,771 | +€7,771 | +77.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,812 | €33,800 | -€11,011 | -24.6% |
| Other operating charges | 640/8 | €8,018 | €8,810 | +€792 | +9.9% |
| Gross operating margin | 9900 | €171,702 | €96,313 | -€75,389 | -43.9% |
| Operating profit (loss) | 9901 | €118,873 | €53,703 | -€65,170 | -54.8% |
| Financial income | 75/76B | €152 | €506 | +€355 | +234% |
| Recurring financial income | 75 | €152 | €506 | +€355 | +234% |
| Financial charges | 65/66B | €1,631 | €1,648 | +€17 | +1.1% |
| Recurring financial charges | 65 | €1,631 | €1,648 | +€17 | +1.1% |
| Profit (loss) for the period before taxes | 9903 | €117,394 | €52,561 | -€64,833 | -55.2% |
| Transfer from deferred taxes | 780 | €2,265 | €2,265 | = | 0.0% |
| Income taxes | 67/77 | €29,786 | €13,554 | -€16,233 | -54.5% |
| Profit (loss) for the period | 9904 | €89,873 | €41,273 | -€48,600 | -54.1% |
| Transfer from tax-exempt reserves | 789 | €6,796 | €6,796 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €96,669 | €48,069 | -€48,600 | -50.3% |
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 30 October 2026 via checked.be.