THE SOUND SOURCE: what changed
Two fiscal 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.
THE SOUND SOURCE
Largest movements
- Tangible fixed assets -€41,815
down €41,815 (-20.9%), from €200,541 to €158,726
of which Land and buildings: -€44,559
- Cash -€17,502
down €17,502 (-60.3%), from €29,029 to €11,527
mainly Net result for the year (-€102,749) and Debts after one year (-€24,401)
- Receivables within one year -€16,833
down €16,833 (-73.4%), from €22,948 to €6,115
of which Trade receivables: -€16,753
- Stocks and contracts +€8,938
up €8,938 (+2.2%), from €404,210 to €413,149
- Profit (loss) carried forward -€102,749
down €102,749 (-14.7%), from -€699,109 to -€801,857
- Other debts +€43,676
up €43,676 (+16.0%), from €272,703 to €316,378
- Debts after one year -€24,401
down €24,401 (-2.7%), from €907,274 to €882,873
of which Financial debts: -€24,401
- Trade debts +€20,254
up €20,254 (+21.9%), from €92,635 to €112,890
- Advances received -€8,151
down €8,151 (-48.8%), from €16,707 to €8,556
- Gross operating margin -€15,470
down €15,470 (-16.2%), from €95,682 to €80,212
- Financial charges -€4,415
down €4,415 (-24.0%), from €18,404 to €13,989
of which Non-recurring financial charges: -€4,485
- Staff costs +€3,314
up €3,314 (+2.8%), from €119,815 to €123,129
- Other operating charges -€1,065
down €1,065 (-15.3%), from €6,940 to €5,874
- Financial income -€1,031
down €1,031 (-13.3%), from €7,758 to €6,727
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.
Cash bridge derived
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 | €664,232 | €595,621 | -€68,611 | -10.3% |
| Fixed assets | 21/28 | €200,776 | €158,961 | -€41,815 | -20.8% |
| Tangible fixed assets | 22/27 | €200,541 | €158,726 | -€41,815 | -20.9% |
| Land and buildings | 22 | €196,000 | €151,442 | -€44,559 | -22.7% |
| Furniture and vehicles | 24 | €4,541 | €7,284 | +€2,744 | +60.4% |
| Financial fixed assets | 28 | €235 | €235 | = | 0.0% |
| Current assets | 29/58 | €463,456 | €436,660 | -€26,796 | -5.8% |
| Stocks and contracts in progress | 3 | €404,210 | €413,149 | +€8,938 | +2.2% |
| Stocks | 30/36 | €404,210 | €413,149 | +€8,938 | +2.2% |
| Amounts receivable within one year | 40/41 | €22,948 | €6,115 | -€16,833 | -73.4% |
| Trade receivables | 40 | €22,535 | €5,782 | -€16,753 | -74.3% |
| Other amounts receivable | 41 | €413 | €334 | -€80 | -19.3% |
| Cash at bank and in hand | 54/58 | €29,029 | €11,527 | -€17,502 | -60.3% |
| Deferred charges and accrued income | 490/1 | €7,268 | €5,869 | -€1,399 | -19.3% |
| Total equity and liabilities | 10/49 | €664,232 | €595,621 | -€68,611 | -10.3% |
| Equity | 10/15 | -€674,786 | -€779,391 | -€104,604 | -15.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€699,109 | -€801,857 | -€102,749 | -14.7% |
| Investment grants | 15 | €4,322 | €2,467 | -€1,856 | -42.9% |
| Amounts payable | 17/49 | €1,339,018 | €1,375,012 | +€35,994 | +2.7% |
| Amounts payable after more than one year | 17 | €907,274 | €882,873 | -€24,401 | -2.7% |
| Financial debts | 170/4 | €853,706 | €829,305 | -€24,401 | -2.9% |
| Other amounts payable | 178/9 | €53,568 | €53,568 | = | 0.0% |
| Amounts payable within one year | 42/48 | €431,745 | €492,139 | +€60,394 | +14.0% |
| Current portion of amounts payable after more than one year | 42 | €23,393 | €24,401 | +€1,008 | +4.3% |
| Trade debts | 44 | €92,635 | €112,890 | +€20,254 | +21.9% |
| Suppliers | 440/4 | €92,635 | €112,890 | +€20,254 | +21.9% |
| Advances received on contracts in progress | 46 | €16,707 | €8,556 | -€8,151 | -48.8% |
| Taxes, remuneration and social security | 45 | €26,306 | €29,914 | +€3,608 | +13.7% |
| Taxes | 450/3 | €15,823 | €17,333 | +€1,509 | +9.5% |
| Remuneration and social security | 454/9 | €10,483 | €12,582 | +€2,099 | +20.0% |
| Other amounts payable | 47/48 | €272,703 | €316,378 | +€43,676 | +16.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €119,815 | €123,129 | +€3,314 | +2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,420 | €46,695 | +€275 | +0.6% |
| Other operating charges | 640/8 | €6,940 | €5,874 | -€1,065 | -15.3% |
| Gross operating margin | 9900 | €95,682 | €80,212 | -€15,470 | -16.2% |
| Operating profit (loss) | 9901 | -€77,492 | -€95,486 | -€17,994 | -23.2% |
| Financial income | 75/76B | €7,758 | €6,727 | -€1,031 | -13.3% |
| Recurring financial income | 75 | €7,758 | €6,727 | -€1,031 | -13.3% |
| Financial charges | 65/66B | €18,404 | €13,989 | -€4,415 | -24.0% |
| Recurring financial charges | 65 | €13,919 | €13,989 | +€71 | +0.5% |
| Non-recurring financial charges | 66B | €4,485 | €0 | -€4,485 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | -€88,138 | -€102,749 | -€14,611 | -16.6% |
| Profit (loss) for the period | 9904 | -€88,138 | -€102,749 | -€14,611 | -16.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€88,138 | -€102,749 | -€14,611 | -16.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.