The Image Factory: what changed
What changed
The Image Factory
NACE 59.113, Video and film production, excluding cinema and television films
filed annual accounts (NBB)
Net result for the year
-€15,596
2024 · -€40,565+€24,970
Equity
€1,697
2024 · €17,293-€15,596
Cash
€0
2024 · €16,373-€16,373
Balance sheet total
€140,580
2024 · €152,979-€12,399
Largest movements
Assets
- Cash -€16,373
down €16,373 (-100%), from €16,373 to €0
mainly Net result for the year (-€15,596) and Debts after one year (-€14,392)
- Receivables within one year +€14,026
up €14,026 (+25.4%), from €55,281 to €69,307
of which Trade receivables: +€14,932
- Tangible fixed assets -€11,854
down €11,854 (-15.3%), from €77,572 to €65,718
- Deferred charges and accrued income +€1,802
up €1,802 (+57.6%), from €3,126 to €4,927
Equity and liabilities
- Profit (loss) carried forward -€15,596
down €15,596 (-40.9%), from -€38,112 to -€53,708
- Debts after one year -€14,392
down €14,392 (-39.9%), from €36,106 to €21,714
- Short-term financial debts +€13,012
up €13,012, from €0 to €13,012
- Trade debts -€5,770
down €5,770 (-20.1%), from €28,694 to €22,924
- Other debts +€5,394
up €5,394 (+10.8%), from €50,015 to €55,408
Income statement
- Gross operating margin +€52,846
up €52,846 (+143%), from €36,849 to €89,695
- Staff costs +€26,999
up €26,999 (+53.5%), from €50,497 to €77,496
- Financial charges +€1,589
up €1,589 (+23.8%), from €6,664 to €8,253
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€40,565
Gross operating margin
+€52,846
Staff costs
-€26,999
Depreciation
+€773
Other operating charges
+€137
Financial income
-€198
Financial charges
-€1,589
Result 2025
-€15,596
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€9,114
Investment
-€6,608
Financing
-€651
Cash 2024
€16,373
From operations (derived)
-€9,114
Net result for the year
-€15,596
Depreciation
+€18,462
Receivables within one year
-€14,026
Deferred charges and accrued income
-€1,802
Trade debts
-€5,770
Tax, wage and social debts
+€4,223
Other debts
+€5,394
Investment (derived)
-€6,608
Investment in fixed assets (net)
-€6,608
Financing
-€651
Debts after one year
-€14,392
Current portion of long-term debt
+€729
Short-term financial debts
+€13,012
Cash 2025
€0
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €152,979 | €140,580 | -€12,399 | -8.1% |
| Fixed assets | 21/28 | €78,199 | €66,346 | -€11,854 | -15.2% |
| Tangible fixed assets | 22/27 | €77,572 | €65,718 | -€11,854 | -15.3% |
| Plant, machinery and equipment | 23 | €6,574 | €3,099 | -€3,475 | -52.9% |
| Furniture and vehicles | 24 | €24,146 | €20,260 | -€3,885 | -16.1% |
| Other tangible fixed assets | 26 | €46,853 | €42,359 | -€4,494 | -9.6% |
| Financial fixed assets | 28 | €627 | €627 | = | 0.0% |
| Current assets | 29/58 | €74,779 | €74,234 | -€545 | -0.7% |
| Amounts receivable within one year | 40/41 | €55,281 | €69,307 | +€14,026 | +25.4% |
| Trade receivables | 40 | €45,928 | €60,860 | +€14,932 | +32.5% |
| Other amounts receivable | 41 | €9,353 | €8,447 | -€906 | -9.7% |
| Cash at bank and in hand | 54/58 | €16,373 | €0 | -€16,373 | -100% |
| Deferred charges and accrued income | 490/1 | €3,126 | €4,927 | +€1,802 | +57.6% |
| Total equity and liabilities | 10/49 | €152,979 | €140,580 | -€12,399 | -8.1% |
| Equity | 10/15 | €17,293 | €1,697 | -€15,596 | -90.2% |
| Contributions | 10/11 | €20,405 | €20,405 | = | 0.0% |
| Reserves | 13 | €35,000 | €35,000 | = | 0.0% |
| Distributable reserves | 133 | €35,000 | €35,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€38,112 | -€53,708 | -€15,596 | -40.9% |
| Amounts payable | 17/49 | €135,686 | €138,883 | +€3,197 | +2.4% |
| Amounts payable after more than one year | 17 | €36,106 | €21,714 | -€14,392 | -39.9% |
| Financial debts | 170/4 | €36,106 | €21,714 | -€14,392 | -39.9% |
| Amounts payable within one year | 42/48 | €99,580 | €117,169 | +€17,589 | +17.7% |
| Current portion of amounts payable after more than one year | 42 | €13,663 | €14,392 | +€729 | +5.3% |
| Financial debts | 43 | €0 | €13,012 | +€13,012 | |
| Credit institutions | 430/8 | €0 | €13,012 | +€13,012 | |
| Trade debts | 44 | €28,694 | €22,924 | -€5,770 | -20.1% |
| Suppliers | 440/4 | €28,694 | €22,924 | -€5,770 | -20.1% |
| Taxes, remuneration and social security | 45 | €7,208 | €11,432 | +€4,223 | +58.6% |
| Taxes | 450/3 | €0 | €2,564 | +€2,564 | |
| Remuneration and social security | 454/9 | €7,208 | €8,868 | +€1,660 | +23.0% |
| Other amounts payable | 47/48 | €50,015 | €55,408 | +€5,394 | +10.8% |
| Accrued charges and deferred income | 492/3 | - | €0 | = | |
| Remuneration, social security and pensions | 62 | €50,497 | €77,496 | +€26,999 | +53.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,235 | €18,462 | -€773 | -4.0% |
| Other operating charges | 640/8 | €1,241 | €1,104 | -€137 | -11.0% |
| Gross operating margin | 9900 | €36,849 | €89,695 | +€52,846 | +143% |
| Operating profit (loss) | 9901 | -€34,123 | -€7,367 | +€26,756 | +78.4% |
| Financial income | 75/76B | €222 | €24 | -€198 | -89.2% |
| Recurring financial income | 75 | €222 | €24 | -€198 | -89.2% |
| Financial charges | 65/66B | €6,664 | €8,253 | +€1,589 | +23.8% |
| Recurring financial charges | 65 | €6,664 | €8,253 | +€1,589 | +23.8% |
| Profit (loss) for the period before taxes | 9903 | -€40,565 | -€15,596 | +€24,970 | +61.6% |
| Profit (loss) for the period | 9904 | -€40,565 | -€15,596 | +€24,970 | +61.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€40,565 | -€15,596 | +€24,970 | +61.6% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.