THE BOTTOM LINE: 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.
What changed
THE BOTTOM LINE
NACE 73.110, Advertising agencies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€15,332
2024 · €7,802-€23,134
Equity
€2.0m
2024 · €2.0m-€15,332
Cash
€100,808
2024 · €159,263-€58,455
Balance sheet total
€3.0m
2024 · €3.1m-€87,139
Largest movements
Assets
- Cash -€58,455
down €58,455 (-36.7%), from €159,263 to €100,808
mainly Trade debts (-€130,185) and Investment in fixed assets (net) (-€57,118)
- Deferred charges and accrued income -€46,316
down €46,316 (-10.0%), from €460,861 to €414,545
Equity and liabilities
- Trade debts -€130,185
down €130,185 (-31.8%), from €408,888 to €278,702
- Provisions +€100,000
new in 2025: €100,000
- Other debts -€42,174
down €42,174 (-6.5%), from €649,428 to €607,254
Income statement
- Provisions +€100,000
new in 2025: €100,000
- Gross operating margin +€61,986
up €61,986 (+47.4%), from €130,822 to €192,808
- Other operating charges -€9,306
down €9,306 (-40.6%), from €22,905 to €13,599
- Financial charges -€4,928
down €4,928 (-10.4%), from €47,226 to €42,298
- Taxes -€4,909
down €4,909 (-99.8%), from €4,917 to €8
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.
Result 2024
€7,802
Gross operating margin
+€61,986
Depreciation
-€4,209
Provisions
-€100,000
Other operating charges
+€9,306
Financial income
-€53
Financial charges
+€4,928
Taxes
+€4,909
Result 2025
-€15,332
raises the resultlowers the result
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.
From operations
-€1,337
Investment
-€57,118
Financing
€0
Cash 2024
€159,263
From operations (derived)
-€1,337
Net result for the year
-€15,332
Depreciation
+€52,235
Stocks and contracts
-€27,000
Receivables within one year
+€14,252
Deferred charges and accrued income
+€46,316
Provisions
+€100,000
Trade debts
-€130,185
Tax, wage and social debts
+€4,706
Advances received
+€7,744
Other debts
-€42,174
Accrued charges and deferred income
-€11,898
Investment (derived)
-€57,118
Investment in fixed assets (net)
-€57,118
Cash 2025
€100,808
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,086,003 | €2,998,865 | -€87,139 | -2.8% |
| Fixed assets | 21/28 | €683,089 | €687,973 | +€4,883 | +0.7% |
| Intangible fixed assets | 21 | €49,800 | €41,500 | -€8,300 | -16.7% |
| Tangible fixed assets | 22/27 | €633,240 | €646,423 | +€13,183 | +2.1% |
| Land and buildings | 22 | €252,377 | €252,377 | = | 0.0% |
| Plant, machinery and equipment | 23 | €376,501 | €388,049 | +€11,548 | +3.1% |
| Furniture and vehicles | 24 | €4,362 | €5,998 | +€1,636 | +37.5% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €2,402,914 | €2,310,892 | -€92,022 | -3.8% |
| Stocks and contracts in progress | 3 | €54,310 | €81,310 | +€27,000 | +49.7% |
| Stocks | 30/36 | €54,310 | €81,310 | +€27,000 | +49.7% |
| Amounts receivable within one year | 40/41 | €1,728,481 | €1,714,229 | -€14,252 | -0.8% |
| Trade receivables | 40 | €606,646 | €582,205 | -€24,441 | -4.0% |
| Other amounts receivable | 41 | €1,121,834 | €1,132,024 | +€10,189 | +0.9% |
| Cash at bank and in hand | 54/58 | €159,263 | €100,808 | -€58,455 | -36.7% |
| Deferred charges and accrued income | 490/1 | €460,861 | €414,545 | -€46,316 | -10.0% |
| Total equity and liabilities | 10/49 | €3,086,003 | €2,998,865 | -€87,139 | -2.8% |
| Equity | 10/15 | €1,968,357 | €1,953,025 | -€15,332 | -0.8% |
| Contributions | 10/11 | €92,025 | €92,025 | = | 0.0% |
| Capital | 10 | €92,025 | €92,025 | = | 0.0% |
| Issued capital | 100 | €92,025 | €92,025 | = | 0.0% |
| Reserves | 13 | €1,876,332 | €1,861,000 | -€15,332 | -0.8% |
| Non-distributable reserves | 130/1 | €9,202 | €9,202 | = | 0.0% |
| Legal reserve | 130 | €9,202 | €9,202 | = | 0.0% |
| Distributable reserves | 133 | €1,867,130 | €1,851,798 | -€15,332 | -0.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | - | €100,000 | +€100,000 | |
| Provisions for liabilities and charges | 160/5 | - | €100,000 | +€100,000 | |
| Other liabilities and charges | 164/5 | - | €100,000 | +€100,000 | |
| Amounts payable | 17/49 | €1,117,647 | €945,840 | -€171,807 | -15.4% |
| Amounts payable within one year | 42/48 | €1,060,570 | €900,660 | -€159,909 | -15.1% |
| Trade debts | 44 | €408,888 | €278,702 | -€130,185 | -31.8% |
| Suppliers | 440/4 | €408,888 | €278,702 | -€130,185 | -31.8% |
| Advances received on contracts in progress | 46 | - | €7,744 | +€7,744 | |
| Taxes, remuneration and social security | 45 | €2,254 | €6,960 | +€4,706 | +209% |
| Taxes | 450/3 | €2,254 | €6,960 | +€4,706 | +209% |
| Other amounts payable | 47/48 | €649,428 | €607,254 | -€42,174 | -6.5% |
| Accrued charges and deferred income | 492/3 | €57,077 | €45,179 | -€11,898 | -20.8% |
| Non-recurring operating income | 76A | €169,184 | €50,000 | -€119,184 | -70.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,025 | €52,235 | +€4,209 | +8.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €100,000 | +€100,000 | |
| Other operating charges | 640/8 | €22,905 | €13,599 | -€9,306 | -40.6% |
| Gross operating margin | 9900 | €130,822 | €192,808 | +€61,986 | +47.4% |
| Operating profit (loss) | 9901 | €59,892 | €26,974 | -€32,918 | -55.0% |
| Financial income | 75/76B | €53 | €0 | -€53 | -100% |
| Recurring financial income | 75 | €53 | €0 | -€53 | -100% |
| Financial charges | 65/66B | €47,226 | €42,298 | -€4,928 | -10.4% |
| Recurring financial charges | 65 | €47,226 | €42,298 | -€4,928 | -10.4% |
| Profit (loss) for the period before taxes | 9903 | €12,719 | -€15,324 | -€28,043 | |
| Income taxes | 67/77 | €4,917 | €8 | -€4,909 | -99.8% |
| Profit (loss) for the period | 9904 | €7,802 | -€15,332 | -€23,134 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,802 | -€15,332 | -€23,134 |
Source: filed annual accounts (NBB), financial years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.