TRANSFERT: 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
TRANSFERT
NACE 47.621, Retail sale of newspapers and periodicals
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€9,885
2024 · €2,516-€12,401
Equity
€605,859
2024 · €615,744-€9,885
Cash
€211,907
2024 · €364,536-€152,629
Balance sheet total
€1.8m
2024 · €1.9m-€85,826
Largest movements
Assets
- Cash -€152,629
down €152,629 (-41.9%), from €364,536 to €211,907
mainly Accrued charges and deferred income (-€144,231) and Investment in fixed assets (net) (-€87,362)
- Stocks and contracts +€24,736
up €24,736 (+2.8%), from €874,628 to €899,364
- Tangible fixed assets +€24,120
up €24,120 (+7.7%), from €313,419 to €337,539
of which Leasing and similar rights: +€27,532
Equity and liabilities
- Accrued charges and deferred income -€144,231
down €144,231 (-75.4%), from €191,241 to €47,010
- Trade debts +€93,034
up €93,034 (+33.5%), from €277,807 to €370,841
- Tax, wage and social debts -€32,253
down €32,253 (-20.2%), from €159,984 to €127,731
of which Taxes: -€25,966
Income statement
- Gross operating margin -€21,599
down €21,599 (-3.1%), from €707,770 to €686,170
- Depreciation -€11,514
down €11,514 (-13.5%), from €84,983 to €73,469
- Staff costs +€10,914
up €10,914 (+1.9%), from €581,429 to €592,344
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
€2,516
Gross operating margin
-€21,599
Staff costs
-€10,914
Depreciation
+€11,514
Write-downs
+€569
Other operating charges
+€1,499
Financial income
-€1,462
Financial charges
+€3,274
Taxes
+€4,719
Result 2025
-€9,885
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.
From operations
-€76,144
Investment
-€87,362
Financing
+€10,877
Cash 2024
€364,536
From operations (derived)
-€76,144
Net result for the year
-€9,885
Depreciation
+€73,469
Stocks and contracts
-€24,736
Receivables within one year
-€13,774
Deferred charges and accrued income
-€14,400
Trade debts
+€93,034
Tax, wage and social debts
-€32,253
Advances received
-€3,368
Accrued charges and deferred income
-€144,231
Investment (derived)
-€87,362
Investment in fixed assets (net)
-€87,362
Financing
+€10,877
Debts after one year
+€6,556
Current portion of long-term debt
+€2,382
Short-term financial debts
+€1,938
Cash 2025
€211,907
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,935,424 | €1,849,598 | -€85,826 | -4.4% |
| Fixed assets | 21/28 | €353,247 | €367,139 | +€13,893 | +3.9% |
| Intangible fixed assets | 21 | €38,649 | €28,422 | -€10,227 | -26.5% |
| Tangible fixed assets | 22/27 | €313,419 | €337,539 | +€24,120 | +7.7% |
| Land and buildings | 22 | €186,636 | €168,865 | -€17,771 | -9.5% |
| Plant, machinery and equipment | 23 | €72,757 | €89,729 | +€16,971 | +23.3% |
| Furniture and vehicles | 24 | €44,330 | €41,717 | -€2,613 | -5.9% |
| Leasing and similar rights | 25 | €9,695 | €37,228 | +€27,532 | +284.0% |
| Financial fixed assets | 28 | €1,179 | €1,179 | = | 0.0% |
| Current assets | 29/58 | €1,582,177 | €1,482,459 | -€99,719 | -6.3% |
| Stocks and contracts in progress | 3 | €874,628 | €899,364 | +€24,736 | +2.8% |
| Stocks | 30/36 | €874,628 | €899,364 | +€24,736 | +2.8% |
| Amounts receivable within one year | 40/41 | €336,392 | €350,167 | +€13,774 | +4.1% |
| Trade receivables | 40 | €331,197 | €341,566 | +€10,369 | +3.1% |
| Other amounts receivable | 41 | €5,195 | €8,600 | +€3,406 | +65.6% |
| Cash at bank and in hand | 54/58 | €364,536 | €211,907 | -€152,629 | -41.9% |
| Deferred charges and accrued income | 490/1 | €6,622 | €21,021 | +€14,400 | +217.5% |
| Total equity and liabilities | 10/49 | €1,935,424 | €1,849,598 | -€85,826 | -4.4% |
| Equity | 10/15 | €615,744 | €605,859 | -€9,885 | -1.6% |
| Contributions | 10/11 | €241,696 | €241,696 | = | 0.0% |
| Capital | 10 | €241,696 | €241,696 | = | 0.0% |
| Issued capital | 100 | €241,696 | €241,696 | = | 0.0% |
| Reserves | 13 | €374,047 | €364,163 | -€9,885 | -2.6% |
| Non-distributable reserves | 130/1 | €17,514 | €17,514 | = | 0.0% |
| Legal reserve | 130 | €17,514 | €17,514 | = | 0.0% |
| Tax-exempt reserves | 132 | €60,635 | €60,635 | = | 0.0% |
| Distributable reserves | 133 | €295,898 | €286,014 | -€9,885 | -3.3% |
| Amounts payable | 17/49 | €1,319,680 | €1,243,739 | -€75,941 | -5.8% |
| Amounts payable after more than one year | 17 | €74,307 | €80,862 | +€6,556 | +8.8% |
| Financial debts | 170/4 | €74,307 | €80,862 | +€6,556 | +8.8% |
| Amounts payable within one year | 42/48 | €1,054,132 | €1,115,867 | +€61,735 | +5.9% |
| Current portion of amounts payable after more than one year | 42 | €43,393 | €45,776 | +€2,382 | +5.5% |
| Financial debts | 43 | €152,151 | €154,089 | +€1,938 | +1.3% |
| Credit institutions | 430/8 | €152,151 | €154,089 | +€1,938 | +1.3% |
| Trade debts | 44 | €277,807 | €370,841 | +€93,034 | +33.5% |
| Suppliers | 440/4 | €277,807 | €370,841 | +€93,034 | +33.5% |
| Advances received on contracts in progress | 46 | €16,428 | €13,060 | -€3,368 | -20.5% |
| Taxes, remuneration and social security | 45 | €159,984 | €127,731 | -€32,253 | -20.2% |
| Taxes | 450/3 | €83,967 | €58,001 | -€25,966 | -30.9% |
| Remuneration and social security | 454/9 | €76,017 | €69,730 | -€6,287 | -8.3% |
| Other amounts payable | 47/48 | €404,369 | €404,369 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €191,241 | €47,010 | -€144,231 | -75.4% |
| Remuneration, social security and pensions | 62 | €581,429 | €592,344 | +€10,914 | +1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,983 | €73,469 | -€11,514 | -13.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €569 | €0 | -€569 | -100.0% |
| Other operating charges | 640/8 | €29,945 | €28,446 | -€1,499 | -5.0% |
| Gross operating margin | 9900 | €707,770 | €686,170 | -€21,599 | -3.1% |
| Operating profit (loss) | 9901 | €10,843 | -€8,089 | -€18,932 | |
| Financial income | 75/76B | €17,345 | €15,883 | -€1,462 | -8.4% |
| Recurring financial income | 75 | €17,345 | €15,883 | -€1,462 | -8.4% |
| Financial charges | 65/66B | €19,211 | €15,936 | -€3,274 | -17.0% |
| Recurring financial charges | 65 | €19,211 | €15,936 | -€3,274 | -17.0% |
| Profit (loss) for the period before taxes | 9903 | €8,978 | -€8,142 | -€17,120 | |
| Income taxes | 67/77 | €6,462 | €1,743 | -€4,719 | -73.0% |
| Profit (loss) for the period | 9904 | €2,516 | -€9,885 | -€12,401 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,516 | -€9,885 | -€12,401 |
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 10 October 2026 via checked.be.