VERSUS PRODUCTION: 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
VERSUS PRODUCTION
NACE 59.111, Production of cinema films
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€81,807
2024 · -€2.2m+€2.1m
Equity
€4.1m
2024 · €6.0m-€2.0m
Cash
€302,034
2024 · €1.5m-€1.2m
Balance sheet total
€20.6m
2024 · €46.4m-€25.8m
Largest movements
Assets
- Stocks and contracts -€18.7m
down €18.7m (-90.9%), from €20.6m to €1.9m
- Intangible fixed assets -€7.3m
down €7.3m (-36.9%), from €19.8m to €12.5m
- Receivables within one year +€1.3m
up €1.3m (+29.5%), from €4.5m to €5.8m
of which Other amounts receivable: +€1.6m
- Cash -€1.2m
down €1.2m (-80.0%), from €1.5m to €302,034
mainly Advances received (-€13.6m) and Debts after one year (-€4.9m)
Equity and liabilities
- Advances received -€13.6m
down €13.6m (-100%), from €13.6m to €0
- Debts after one year -€4.9m
down €4.9m (-45.5%), from €10.7m to €5.9m
- Other debts -€3.3m
down €3.3m (-85.2%), from €3.9m to €581,792
- Investment grants -€1.9m
down €1.9m (-32.6%), from €5.7m to €3.9m
- Accrued charges and deferred income -€1.5m
down €1.5m (-16.1%), from €9.6m to €8.0m
Income statement
- Goods and materials -€29.0m
down €29.0m (-85.4%), from €34.0m to €5.0m
- Turnover +€13.0m
up €13.0m (+76.0%), from €17.1m to €30.1m
- Financial income -€2.6m
down €2.6m (-57.6%), from €4.6m to €1.9m
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
-€2.2m
Turnover
+€13.0m
Other operating income
+€279,497
Goods and materials
+€29.0m
Services and other goods
+€29,611
Staff costs
+€13,182
Depreciation
+€213,928
Write-downs
-€4,342
Other operating charges
-€10,732
Other operating items
-€37.3m
Financial income
-€2.6m
Financial charges
-€157,881
Taxes
+€771
Deferred taxes and other
-€297,361
Result 2025
-€81,807
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
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
+€5.7m
Investment
-€134,197
Financing
-€6.8m
Cash 2024
€1.5m
From operations (derived)
+€5.7m
Net result for the year
-€81,807
Depreciation
+€7.4m
Stocks and contracts
+€18.7m
Receivables within one year
-€1.3m
Smaller working-capital items
-€12,221
Provisions
-€622,839
Trade debts
+€102,594
Advances received
-€13.6m
Other debts
-€3.3m
Accrued charges and deferred income
-€1.5m
Investment (derived)
-€134,197
Investment in fixed assets (net)
-€134,197
Financing
-€6.8m
Debts after one year
-€4.9m
Contributions, distributions and other
-€1.9m
Cash 2025
€302,034
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €46,420,369 | €20,584,762 | -€25.8m | -55.7% |
| Fixed assets | 21/28 | €19,876,077 | €12,634,666 | -€7.2m | -36.4% |
| Intangible fixed assets | 21 | €19,832,815 | €12,521,546 | -€7.3m | -36.9% |
| Tangible fixed assets | 22/27 | €1,307 | €0 | -€1,307 | -100% |
| Furniture and vehicles | 24 | €1,307 | €0 | -€1,307 | -100% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €41,955 | €113,120 | +€71,165 | +170% |
| Affiliated companies | 280/1 | - | €71,165 | +€71,165 | |
| Amounts receivable | 281 | - | €71,165 | +€71,165 | |
| Other financial fixed assets | 284/8 | €41,955 | €41,955 | = | 0.0% |
| Shares | 284 | €39,955 | €39,955 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €26,544,292 | €7,950,096 | -€18.6m | -70.0% |
| Stocks and contracts in progress | 3 | €20,574,129 | €1,865,590 | -€18.7m | -90.9% |
| Contracts in progress | 37 | €20,574,129 | €1,865,590 | -€18.7m | -90.9% |
| Amounts receivable within one year | 40/41 | €4,455,521 | €5,769,975 | +€1.3m | +29.5% |
| Trade receivables | 40 | €1,100,479 | €786,787 | -€313,692 | -28.5% |
| Other amounts receivable | 41 | €3,355,042 | €4,983,188 | +€1.6m | +48.5% |
| Cash at bank and in hand | 54/58 | €1,512,297 | €302,034 | -€1.2m | -80.0% |
| Deferred charges and accrued income | 490/1 | €2,345 | €12,497 | +€10,152 | +433% |
| Total equity and liabilities | 10/49 | €46,420,369 | €20,584,762 | -€25.8m | -55.7% |
| Equity | 10/15 | €6,046,398 | €4,096,076 | -€2.0m | -32.3% |
| Contributions | 10/11 | €319,142 | €319,142 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€81,807 | -€81,807 | |
| Investment grants | 15 | €5,725,396 | €3,856,881 | -€1.9m | -32.6% |
| Provisions and deferred taxes | 16 | €1,908,465 | €1,285,627 | -€622,839 | -32.6% |
| Deferred taxes | 168 | €1,908,465 | €1,285,627 | -€622,839 | -32.6% |
| Amounts payable | 17/49 | €38,465,505 | €15,203,059 | -€23.3m | -60.5% |
| Amounts payable after more than one year | 17 | €10,744,394 | €5,860,784 | -€4.9m | -45.5% |
| Other amounts payable | 178/9 | €10,744,394 | €5,860,784 | -€4.9m | -45.5% |
| Amounts payable within one year | 42/48 | €18,131,862 | €1,294,867 | -€16.8m | -92.9% |
| Trade debts | 44 | €607,628 | €710,221 | +€102,594 | +16.9% |
| Suppliers | 440/4 | €607,628 | €710,221 | +€102,594 | +16.9% |
| Advances received on contracts in progress | 46 | €13,595,180 | €0 | -€13.6m | -100% |
| Taxes, remuneration and social security | 45 | €4,924 | €2,854 | -€2,070 | -42.0% |
| Taxes | 450/3 | €2,355 | €364 | -€1,991 | -84.5% |
| Remuneration and social security | 454/9 | €2,569 | €2,490 | -€79 | -3.1% |
| Other amounts payable | 47/48 | €3,924,131 | €581,792 | -€3.3m | -85.2% |
| Accrued charges and deferred income | 492/3 | €9,589,249 | €8,047,409 | -€1.5m | -16.1% |
| Operating income | 70/76A | €36,055,422 | €11,994,404 | -€24.1m | -66.7% |
| Turnover | 70 | €17,077,485 | €30,054,347 | +€13.0m | +76.0% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €14,457,227 | -€18,708,539 | -€33.2m | |
| Own construction capitalised | 72 | €4,226,335 | €63,032 | -€4.2m | -98.5% |
| Other operating income | 74 | €234,902 | €514,399 | +€279,497 | +119% |
| Non-recurring operating income | 76A | €59,474 | €71,165 | +€11,691 | +19.7% |
| Operating charges | 60/66A | €43,106,488 | €13,818,613 | -€29.3m | -67.9% |
| Goods for resale, raw materials and consumables | 60 | €33,999,361 | €4,953,134 | -€29.0m | -85.4% |
| Purchases | 600/8 | €33,999,361 | €4,953,134 | -€29.0m | -85.4% |
| Services and other goods | 61 | €1,483,511 | €1,453,899 | -€29,611 | -2.0% |
| Remuneration, social security and pensions | 62 | €31,528 | €18,346 | -€13,182 | -41.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,589,536 | €7,375,608 | -€213,928 | -2.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €4,342 | +€4,342 | |
| Other operating charges | 640/8 | €2,552 | €13,284 | +€10,732 | +421% |
| Operating profit (loss) | 9901 | -€7,051,066 | -€1,824,209 | +€5.2m | +74.1% |
| Financial income | 75/76B | €4,559,374 | €1,934,433 | -€2.6m | -57.6% |
| Recurring financial income | 75 | €4,559,374 | €1,934,433 | -€2.6m | -57.6% |
| Income from financial fixed assets | 750 | €124,170 | €65,875 | -€58,295 | -46.9% |
| Other financial income | 752/9 | €4,435,205 | €1,868,558 | -€2.6m | -57.9% |
| Financial charges | 65/66B | €656,987 | €814,869 | +€157,881 | +24.0% |
| Recurring financial charges | 65 | €656,987 | €814,869 | +€157,881 | +24.0% |
| Debt charges | 650 | €654,153 | €811,094 | +€156,941 | +24.0% |
| Other financial charges | 652/9 | €2,834 | €3,775 | +€940 | +33.2% |
| Profit (loss) for the period before taxes | 9903 | -€3,148,679 | -€704,645 | +€2.4m | +77.6% |
| Transfer from deferred taxes | 780 | €920,199 | €622,838 | -€297,361 | -32.3% |
| Income taxes | 67/77 | €771 | €0 | -€771 | -100% |
| Taxes | 670/3 | €771 | €0 | -€771 | -100% |
| Profit (loss) for the period | 9904 | -€2,229,251 | -€81,807 | +€2.1m | +96.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,229,251 | -€81,807 | +€2.1m | +96.3% |
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 18 October 2026 via checked.be.