UNDERDOG MEDIA: 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.
UNDERDOG MEDIA
Largest movements
- Receivables within one year +€42,377
up €42,377 (+166%), from €25,532 to €67,909
of which Trade receivables: +€42,167
- Cash -€4,988
down €4,988 (-2.0%), from €248,917 to €243,929
mainly Receivables within one year (-€42,377) and Tax, wage and social debts (-€24,222)
- Advances received +€41,861
up €41,861 (+633%), from €6,617 to €48,478
- Tax, wage and social debts -€24,222
down €24,222 (-74.2%), from €32,643 to €8,421
of which Taxes: -€27,258
- Profit (loss) carried forward +€17,226
up €17,226 (+7.4%), from €232,924 to €250,150
- Gross operating margin -€98,856
down €98,856 (-47.0%), from €210,474 to €111,618
- Staff costs +€65,447
up €65,447 (+842%), from €7,770 to €73,217
- Taxes -€50,825
down €50,825 (-84.3%), from €60,299 to €9,474
- Financial charges +€3,275
new in 2024: €3,275
From the 2023 result to the 2024 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.
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €289,542 | €327,621 | +€38,079 | +13.2% |
| Fixed assets | 21/28 | €15,093 | €15,783 | +€690 | +4.6% |
| Tangible fixed assets | 22/27 | €14,745 | €15,435 | +€690 | +4.7% |
| Furniture and vehicles | 24 | €14,745 | €15,435 | +€690 | +4.7% |
| Financial fixed assets | 28 | €348 | €348 | = | 0.0% |
| Current assets | 29/58 | €274,449 | €311,838 | +€37,389 | +13.6% |
| Amounts receivable within one year | 40/41 | €25,532 | €67,909 | +€42,377 | +166% |
| Trade receivables | 40 | €25,247 | €67,414 | +€42,167 | +167% |
| Other amounts receivable | 41 | €285 | €495 | +€210 | +73.7% |
| Cash at bank and in hand | 54/58 | €248,917 | €243,929 | -€4,988 | -2.0% |
| Total equity and liabilities | 10/49 | €289,542 | €327,621 | +€38,079 | +13.2% |
| Equity | 10/15 | €233,924 | €251,150 | +€17,226 | +7.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Capital | 10 | €1,000 | €1,000 | = | 0.0% |
| Issued capital | 100 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €232,924 | €250,150 | +€17,226 | +7.4% |
| Amounts payable | 17/49 | €55,618 | €76,471 | +€20,853 | +37.5% |
| Amounts payable within one year | 42/48 | €55,618 | €76,471 | +€20,853 | +37.5% |
| Trade debts | 44 | €16,358 | €18,772 | +€2,414 | +14.8% |
| Suppliers | 440/4 | €16,358 | €18,772 | +€2,414 | +14.8% |
| Advances received on contracts in progress | 46 | €6,617 | €48,478 | +€41,861 | +633% |
| Taxes, remuneration and social security | 45 | €32,643 | €8,421 | -€24,222 | -74.2% |
| Taxes | 450/3 | €32,643 | €5,385 | -€27,258 | -83.5% |
| Remuneration and social security | 454/9 | - | €3,036 | +€3,036 | |
| Other amounts payable | 47/48 | - | €800 | +€800 | |
| Remuneration, social security and pensions | 62 | €7,770 | €73,217 | +€65,447 | +842% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,983 | €6,983 | = | 0.0% |
| Other operating charges | 640/8 | €384 | €10 | -€374 | -97.4% |
| Non-recurring operating charges | 66A | €2,758 | €1,438 | -€1,320 | -47.9% |
| Gross operating margin | 9900 | €210,474 | €111,618 | -€98,856 | -47.0% |
| Operating profit (loss) | 9901 | €192,579 | €29,970 | -€162,609 | -84.4% |
| Financial income | 75/76B | - | €8 | +€8 | |
| Recurring financial income | 75 | - | €8 | +€8 | |
| Financial charges | 65/66B | - | €3,275 | +€3,275 | |
| Recurring financial charges | 65 | - | €3,275 | +€3,275 | |
| Profit (loss) for the period before taxes | 9903 | €192,579 | €26,703 | -€165,876 | -86.1% |
| Income taxes | 67/77 | €60,299 | €9,474 | -€50,825 | -84.3% |
| Profit (loss) for the period | 9904 | €132,280 | €17,229 | -€115,051 | -87.0% |
| Profit (loss) for the period to be appropriated | 9905 | €132,280 | €17,229 | -€115,051 | -87.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.