THE PUBLICITY NETWORK: what changed
THE PUBLICITY NETWORK
Largest movements
- Receivables within one year -€25,953
down €25,953 (-26.4%), from €98,351 to €72,398
of which Trade receivables: -€26,402
- Tangible fixed assets +€23,472
up €23,472 (+34.4%), from €68,209 to €91,681
of which Plant, machinery and equipment: +€27,790
- Stocks and contracts +€13,485
up €13,485 (+46.0%), from €29,345 to €42,830
of which Stocks: +€13,825
- Cash +€9,339
up €9,339 (+50.5%), from €18,477 to €27,816
mainly Other debts (+€249,010) and Depreciation (+€31,887)
- Other debts +€249,010
up €249,010 (+166%), from €149,967 to €398,977
- Profit (loss) carried forward -€240,074
down €240,074 (-140%), from -€171,839 to -€411,913
- Tax, wage and social debts +€8,747
up €8,747 (+20.5%), from €42,600 to €51,347
of which Remuneration and social security: +€5,927
- Trade debts +€3,149
up €3,149 (+11.8%), from €26,682 to €29,831
- Gross operating margin -€24,726
down €24,726 (-16.6%), from €148,754 to €124,028
- Staff costs +€12,099
up €12,099 (+4.0%), from €305,951 to €318,051
- Financial charges +€9,493
up €9,493 (+1,229%), from €772 to €10,266
- Other operating charges +€4,245
up €4,245 (+242%), from €1,752 to €5,998
- Write-downs -€3,236
down €3,236, from €2,534 to -€702
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €240,097 | €260,931 | +€20,834 | +8.7% |
| Fixed assets | 21/28 | €75,331 | €96,827 | +€21,496 | +28.5% |
| Intangible fixed assets | 21 | €7,122 | €5,146 | -€1,976 | -27.7% |
| Tangible fixed assets | 22/27 | €68,209 | €91,681 | +€23,472 | +34.4% |
| Plant, machinery and equipment | 23 | €15,562 | €43,352 | +€27,790 | +179% |
| Furniture and vehicles | 24 | €52,647 | €48,329 | -€4,318 | -8.2% |
| Current assets | 29/58 | €164,766 | €164,103 | -€662 | -0.4% |
| Stocks and contracts in progress | 3 | €29,345 | €42,830 | +€13,485 | +46.0% |
| Stocks | 30/36 | €29,005 | €42,830 | +€13,825 | +47.7% |
| Contracts in progress | 37 | €340 | - | -€340 | |
| Amounts receivable within one year | 40/41 | €98,351 | €72,398 | -€25,953 | -26.4% |
| Trade receivables | 40 | €98,351 | €71,949 | -€26,402 | -26.8% |
| Other amounts receivable | 41 | - | €449 | +€449 | |
| Cash at bank and in hand | 54/58 | €18,477 | €27,816 | +€9,339 | +50.5% |
| Deferred charges and accrued income | 490/1 | €18,592 | €21,059 | +€2,467 | +13.3% |
| Total equity and liabilities | 10/49 | €240,097 | €260,931 | +€20,834 | +8.7% |
| Equity | 10/15 | €15,661 | -€224,413 | -€240,074 | |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €37,500 | €37,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€171,839 | -€411,913 | -€240,074 | -140% |
| Amounts payable | 17/49 | €224,436 | €485,344 | +€260,908 | +116% |
| Amounts payable within one year | 42/48 | €219,249 | €480,155 | +€260,906 | +119% |
| Trade debts | 44 | €26,682 | €29,831 | +€3,149 | +11.8% |
| Suppliers | 440/4 | €26,682 | €29,831 | +€3,149 | +11.8% |
| Taxes, remuneration and social security | 45 | €42,600 | €51,347 | +€8,747 | +20.5% |
| Taxes | 450/3 | €11,479 | €14,299 | +€2,821 | +24.6% |
| Remuneration and social security | 454/9 | €31,121 | €37,048 | +€5,927 | +19.0% |
| Other amounts payable | 47/48 | €149,967 | €398,977 | +€249,010 | +166% |
| Accrued charges and deferred income | 492/3 | €5,188 | €5,189 | +€2 | 0.0% |
| Remuneration, social security and pensions | 62 | €305,951 | €318,051 | +€12,099 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,848 | €31,887 | +€38 | +0.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,534 | -€702 | -€3,236 | |
| Other operating charges | 640/8 | €1,752 | €5,998 | +€4,245 | +242% |
| Gross operating margin | 9900 | €148,754 | €124,028 | -€24,726 | -16.6% |
| Operating profit (loss) | 9901 | -€193,332 | -€231,204 | -€37,872 | -19.6% |
| Financial income | 75/76B | €1,647 | €1,396 | -€251 | -15.2% |
| Recurring financial income | 75 | €1,647 | €1,396 | -€251 | -15.2% |
| Financial charges | 65/66B | €772 | €10,266 | +€9,493 | +1,229% |
| Recurring financial charges | 65 | €772 | €10,266 | +€9,493 | +1,229% |
| Profit (loss) for the period before taxes | 9903 | -€192,458 | -€240,074 | -€47,616 | -24.7% |
| Transfer from deferred taxes | 780 | €393 | - | -€393 | |
| Profit (loss) for the period | 9904 | -€192,064 | -€240,074 | -€48,010 | -25.0% |
| Transfer from tax-exempt reserves | 789 | €1,180 | - | -€1,180 | |
| Profit (loss) for the period to be appropriated | 9905 | -€190,884 | -€240,074 | -€49,190 | -25.8% |
Next steps
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 3 November 2026 via checked.be.