SOUND MATTERS: 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.
SOUND MATTERS
Largest movements
- Receivables within one year +€23,344
up €23,344 (+252%), from €9,249 to €32,593
- Deferred charges and accrued income +€22,013
up €22,013 (+1,971%), from €1,117 to €23,130
- Cash +€7,003
up €7,003 (+19.0%), from €36,945 to €43,948
mainly Other debts (+€48,393) and Net result for the year (+€39,211)
- Tangible fixed assets +€3,984
up €3,984 (+8.6%), from €46,510 to €50,494
of which Plant, machinery and equipment: +€7,972
- Other debts +€48,393
up €48,393 (+170%), from €28,509 to €76,902
- Reserves -€17,678
down €17,678 (-80.9%), from €21,847 to €4,169
- Tax, wage and social debts +€13,243
up €13,243 (+70.4%), from €18,814 to €32,057
- Profit (loss) carried forward +€9,140
no longer reported in 2025 (was -€9,140)
- Trade debts +€3,278
up €3,278 (+73.3%), from €4,470 to €7,748
- Gross operating margin +€50,673
up €50,673 (+208%), from €24,310 to €74,983
- Write-downs -€22,721
no longer reported in 2025 (was €22,721)
- Taxes +€10,709
up €10,709 (+1,919%), from €558 to €11,267
- Depreciation +€8,068
up €8,068 (+103%), from €7,866 to €15,934
- Financial charges +€6,126
up €6,126 (+369%), from €1,662 to €7,788
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 | €94,291 | €150,635 | +€56,344 | +59.8% |
| Fixed assets | 21/28 | €46,980 | €50,964 | +€3,984 | +8.5% |
| Tangible fixed assets | 22/27 | €46,510 | €50,494 | +€3,984 | +8.6% |
| Plant, machinery and equipment | 23 | €27,319 | €35,291 | +€7,972 | +29.2% |
| Furniture and vehicles | 24 | €19,191 | €15,203 | -€3,988 | -20.8% |
| Financial fixed assets | 28 | €470 | €470 | = | 0.0% |
| Current assets | 29/58 | €47,311 | €99,671 | +€52,360 | +111% |
| Amounts receivable within one year | 40/41 | €9,249 | €32,593 | +€23,344 | +252% |
| Trade receivables | 40 | €9,249 | €32,593 | +€23,344 | +252% |
| Cash at bank and in hand | 54/58 | €36,945 | €43,948 | +€7,003 | +19.0% |
| Deferred charges and accrued income | 490/1 | €1,117 | €23,130 | +€22,013 | +1,971% |
| Total equity and liabilities | 10/49 | €94,291 | €150,635 | +€56,344 | +59.8% |
| Equity | 10/15 | €31,307 | €22,769 | -€8,538 | -27.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €21,847 | €4,169 | -€17,678 | -80.9% |
| Distributable reserves | 133 | €21,847 | €4,169 | -€17,678 | -80.9% |
| Profit (loss) carried forward | 14 | -€9,140 | - | +€9,140 | |
| Amounts payable | 17/49 | €62,984 | €127,866 | +€64,882 | +103% |
| Amounts payable after more than one year | 17 | €6,677 | €3,553 | -€3,124 | -46.8% |
| Financial debts | 170/4 | €6,677 | €3,553 | -€3,124 | -46.8% |
| Amounts payable within one year | 42/48 | €54,775 | €119,831 | +€65,056 | +119% |
| Financial debts | 43 | €2,982 | €3,124 | +€142 | +4.8% |
| Credit institutions | 430/8 | €2,982 | €3,124 | +€142 | +4.8% |
| Trade debts | 44 | €4,470 | €7,748 | +€3,278 | +73.3% |
| Suppliers | 440/4 | €4,470 | €7,748 | +€3,278 | +73.3% |
| Taxes, remuneration and social security | 45 | €18,814 | €32,057 | +€13,243 | +70.4% |
| Taxes | 450/3 | €18,814 | €32,057 | +€13,243 | +70.4% |
| Other amounts payable | 47/48 | €28,509 | €76,902 | +€48,393 | +170% |
| Accrued charges and deferred income | 492/3 | €1,532 | €4,482 | +€2,950 | +193% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,866 | €15,934 | +€8,068 | +103% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €22,721 | - | -€22,721 | |
| Other operating charges | 640/8 | €643 | €783 | +€140 | +21.8% |
| Gross operating margin | 9900 | €24,310 | €74,983 | +€50,673 | +208% |
| Operating profit (loss) | 9901 | -€6,920 | €58,266 | +€65,186 | |
| Financial charges | 65/66B | €1,662 | €7,788 | +€6,126 | +369% |
| Recurring financial charges | 65 | €1,662 | €7,788 | +€6,126 | +369% |
| Profit (loss) for the period before taxes | 9903 | -€8,582 | €50,478 | +€59,060 | |
| Income taxes | 67/77 | €558 | €11,267 | +€10,709 | +1,919% |
| Profit (loss) for the period | 9904 | -€9,140 | €39,211 | +€48,351 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,140 | €39,211 | +€48,351 |
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 20 October 2026 via checked.be.