TOP SECRET COMMUNICATION: what changed
What changed
TOP SECRET COMMUNICATION
NACE 73.110, Advertising agencies
filed annual accounts (NBB)
Net result for the year
€54,884
2024 · -€91,225+€146,109
Equity
€167,074
2024 · €92,887+€74,187
Cash
€21,515
2024 · €32,626-€11,111
Balance sheet total
€1.1m
2024 · €1.1m-€3,886
Largest movements
Assets
- Receivables within one year +€69,902
up €69,902 (+33.1%), from €211,244 to €281,146
of which Trade receivables: +€66,072
- Deferred charges and accrued income -€53,735
down €53,735 (-70.0%), from €76,729 to €22,994
- Cash -€11,111
down €11,111 (-34.1%), from €32,626 to €21,515
mainly Trade debts (-€111,099) and Receivables within one year (-€69,902)
Equity and liabilities
- Trade debts -€111,099
down €111,099 (-87.6%), from €126,780 to €15,680
- Accrued charges and deferred income +€67,366
up €67,366 (+858%), from €7,851 to €75,217
- Profit (loss) carried forward +€54,884
up €54,884, from -€21,679 to €33,205
- Current portion of long-term debt +€48,528
up €48,528 (+82.2%), from €59,058 to €107,586
- Debts after one year -€43,770
down €43,770 (-6.2%), from €704,022 to €660,252
Income statement
- Gross operating margin +€112,584
up €112,584 (+22.7%), from €495,333 to €607,917
- Staff costs -€30,094
down €30,094 (-5.9%), from €512,958 to €482,864
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
-€91,225
Gross operating margin
+€112,584
Staff costs
+€30,094
Depreciation
+€5,621
Other operating charges
-€1,189
Financial income
+€176
Financial charges
-€848
Taxes
-€328
Result 2025
€54,884
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
-€4,749
Investment
-€30,422
Financing
+€24,061
Cash 2024
€32,626
From operations (derived)
-€4,749
Net result for the year
+€54,884
Depreciation
+€39,365
Receivables within one year
-€69,902
Deferred charges and accrued income
+€53,735
Trade debts
-€111,099
Tax, wage and social debts
-€39,482
Other debts
+€385
Accrued charges and deferred income
+€67,366
Investment (derived)
-€30,422
Investment in fixed assets (net)
-€30,422
Financing
+€24,061
Debts after one year
-€43,770
Current portion of long-term debt
+€48,528
Contributions, distributions and other
+€19,303
Cash 2025
€21,515
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,096,273 | €1,092,387 | -€3,886 | -0.4% |
| Fixed assets | 21/28 | €774,311 | €765,369 | -€8,942 | -1.2% |
| Intangible fixed assets | 21 | €1,046 | €48 | -€998 | -95.4% |
| Tangible fixed assets | 22/27 | €772,234 | €764,290 | -€7,944 | -1.0% |
| Furniture and vehicles | 24 | €46,736 | €38,097 | -€8,639 | -18.5% |
| Other tangible fixed assets | 26 | €725,498 | €726,193 | +€695 | +0.1% |
| Financial fixed assets | 28 | €1,031 | €1,031 | = | 0.0% |
| Current assets | 29/58 | €321,962 | €327,018 | +€5,057 | +1.6% |
| Amounts receivable after more than one year | 29 | €1,000 | €1,000 | = | 0.0% |
| Other amounts receivable | 291 | €1,000 | €1,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €211,244 | €281,146 | +€69,902 | +33.1% |
| Trade receivables | 40 | €164,624 | €230,696 | +€66,072 | +40.1% |
| Other amounts receivable | 41 | €46,620 | €50,450 | +€3,830 | +8.2% |
| Current investments | 50/53 | €363 | €363 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €32,626 | €21,515 | -€11,111 | -34.1% |
| Deferred charges and accrued income | 490/1 | €76,729 | €22,994 | -€53,735 | -70.0% |
| Total equity and liabilities | 10/49 | €1,096,273 | €1,092,387 | -€3,886 | -0.4% |
| Equity | 10/15 | €92,887 | €167,074 | +€74,187 | +79.9% |
| Contributions | 10/11 | €63,000 | €63,000 | = | 0.0% |
| Capital | 10 | €63,000 | €63,000 | = | 0.0% |
| Issued capital | 100 | €63,000 | €63,000 | = | 0.0% |
| Reserves | 13 | €45,300 | €45,300 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,300 | €6,300 | = | 0.0% |
| Legal reserve | 130 | €6,300 | €6,300 | = | 0.0% |
| Distributable reserves | 133 | €39,000 | €39,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€21,679 | €33,205 | +€54,884 | |
| Investment grants | 15 | €6,266 | €25,569 | +€19,303 | +308% |
| Amounts payable | 17/49 | €1,003,386 | €925,313 | -€78,072 | -7.8% |
| Amounts payable after more than one year | 17 | €704,022 | €660,252 | -€43,770 | -6.2% |
| Financial debts | 170/4 | €704,022 | €660,252 | -€43,770 | -6.2% |
| Amounts payable within one year | 42/48 | €291,513 | €189,844 | -€101,669 | -34.9% |
| Current portion of amounts payable after more than one year | 42 | €59,058 | €107,586 | +€48,528 | +82.2% |
| Trade debts | 44 | €126,780 | €15,680 | -€111,099 | -87.6% |
| Suppliers | 440/4 | €126,780 | €15,680 | -€111,099 | -87.6% |
| Taxes, remuneration and social security | 45 | €101,018 | €61,536 | -€39,482 | -39.1% |
| Taxes | 450/3 | €27,428 | €9,098 | -€18,330 | -66.8% |
| Remuneration and social security | 454/9 | €73,590 | €52,438 | -€21,152 | -28.7% |
| Other amounts payable | 47/48 | €4,658 | €5,042 | +€385 | +8.3% |
| Accrued charges and deferred income | 492/3 | €7,851 | €75,217 | +€67,366 | +858% |
| Remuneration, social security and pensions | 62 | €512,958 | €482,864 | -€30,094 | -5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,985 | €39,365 | -€5,621 | -12.5% |
| Other operating charges | 640/8 | €845 | €2,035 | +€1,189 | +141% |
| Gross operating margin | 9900 | €495,333 | €607,917 | +€112,584 | +22.7% |
| Operating profit (loss) | 9901 | -€63,456 | €83,654 | +€147,109 | |
| Financial income | 75/76B | €987 | €1,163 | +€176 | +17.8% |
| Recurring financial income | 75 | €987 | €1,163 | +€176 | +17.8% |
| Financial charges | 65/66B | €28,756 | €29,604 | +€848 | +2.9% |
| Recurring financial charges | 65 | €28,756 | €29,604 | +€848 | +2.9% |
| Profit (loss) for the period before taxes | 9903 | -€91,225 | €55,212 | +€146,438 | |
| Income taxes | 67/77 | - | €328 | +€328 | |
| Profit (loss) for the period | 9904 | -€91,225 | €54,884 | +€146,109 | |
| Profit (loss) for the period to be appropriated | 9905 | -€91,225 | €54,884 | +€146,109 |
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 8 November 2026 via checked.be.