THE NINE: 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 NINE
NACE 47.621, Retail sale of newspapers and periodicals
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€106,287
2024 · €628+€105,659
Equity
-€1.2m
2024 · -€1.3m+€106,287
Cash
€1,938
2024 · €3,354-€1,416
Balance sheet total
€2.2m
2024 · €2.2m+€66,216
Largest movements
Assets
- Receivables within one year +€70,875
up €70,875 (+520%), from €13,627 to €84,502
Equity and liabilities
- Profit (loss) carried forward +€106,287
up €106,287 (+5.8%), from -€1.8m to -€1.7m
- Debts after one year -€30,742
down €30,742 (-1.0%), from €3.2m to €3.2m
Income statement
- Gross operating margin +€99,128
up €99,128 (+722%), from €13,730 to €112,858
- Other operating charges -€5,036
down €5,036 (-82.5%), from €6,106 to €1,070
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
€628
Gross operating margin
+€99,128
Depreciation
+€676
Other operating charges
+€5,036
Financial charges
+€818
Result 2025
€106,287
raises 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
+€41,326
Investment
€0
Financing
-€42,742
Cash 2024
€3,354
From operations (derived)
+€41,326
Net result for the year
+€106,287
Depreciation
+€3,243
Receivables within one year
-€70,875
Trade debts
+€335
Tax, wage and social debts
+€2,335
Financing
-€42,742
Debts after one year
-€30,742
Short-term financial debts
-€12,000
Cash 2025
€1,938
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,156,728 | €2,222,944 | +€66,216 | +3.1% |
| Fixed assets | 21/28 | €2,139,747 | €2,136,504 | -€3,243 | -0.2% |
| Tangible fixed assets | 22/27 | €2,138,647 | €2,135,403 | -€3,243 | -0.2% |
| Furniture and vehicles | 24 | €3,243 | - | -€3,243 | |
| Other tangible fixed assets | 26 | €2,135,403 | €2,135,403 | = | 0.0% |
| Financial fixed assets | 28 | €1,101 | €1,101 | = | 0.0% |
| Current assets | 29/58 | €16,981 | €86,440 | +€69,459 | +409% |
| Amounts receivable within one year | 40/41 | €13,627 | €84,502 | +€70,875 | +520% |
| Trade receivables | 40 | €13,627 | €84,502 | +€70,875 | +520% |
| Cash at bank and in hand | 54/58 | €3,354 | €1,938 | -€1,416 | -42.2% |
| Total equity and liabilities | 10/49 | €2,156,728 | €2,222,944 | +€66,216 | +3.1% |
| Equity | 10/15 | -€1,330,851 | -€1,224,563 | +€106,287 | +8.0% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Capital | 10 | €500,000 | €500,000 | = | 0.0% |
| Issued capital | 100 | €500,000 | €500,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,830,851 | -€1,724,563 | +€106,287 | +5.8% |
| Provisions and deferred taxes | 16 | €262,000 | €262,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €262,000 | €262,000 | = | 0.0% |
| Environmental obligations | 163 | €262,000 | €262,000 | = | 0.0% |
| Amounts payable | 17/49 | €3,225,579 | €3,185,507 | -€40,072 | -1.2% |
| Amounts payable after more than one year | 17 | €3,181,295 | €3,150,553 | -€30,742 | -1.0% |
| Financial debts | 170/4 | €3,181,295 | €3,150,553 | -€30,742 | -1.0% |
| Amounts payable within one year | 42/48 | €44,284 | €34,954 | -€9,330 | -21.1% |
| Financial debts | 43 | €12,000 | - | -€12,000 | |
| Credit institutions | 430/8 | €12,000 | - | -€12,000 | |
| Trade debts | 44 | €4,059 | €4,394 | +€335 | +8.3% |
| Suppliers | 440/4 | €4,059 | €4,394 | +€335 | +8.3% |
| Taxes, remuneration and social security | 45 | €4,849 | €7,184 | +€2,335 | +48.2% |
| Taxes | 450/3 | €4,849 | €7,184 | +€2,335 | +48.2% |
| Other amounts payable | 47/48 | €23,375 | €23,375 | = | 0.0% |
| Non-recurring operating income | 76A | €264 | - | -€264 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,920 | €3,243 | -€676 | -17.3% |
| Other operating charges | 640/8 | €6,106 | €1,070 | -€5,036 | -82.5% |
| Gross operating margin | 9900 | €13,730 | €112,858 | +€99,128 | +722% |
| Operating profit (loss) | 9901 | €3,705 | €108,545 | +€104,841 | +2,830% |
| Financial charges | 65/66B | €3,076 | €2,258 | -€818 | -26.6% |
| Recurring financial charges | 65 | €3,076 | €2,258 | -€818 | -26.6% |
| Profit (loss) for the period before taxes | 9903 | €628 | €106,287 | +€105,659 | +16,816% |
| Profit (loss) for the period | 9904 | €628 | €106,287 | +€105,659 | +16,816% |
| Profit (loss) for the period to be appropriated | 9905 | €628 | €106,287 | +€105,659 | +16,816% |
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 26 October 2026 via checked.be.