WALKING THE DOG: what changed
What changed
WALKING THE DOG
NACE 59.111, Production of cinema films
filed annual accounts (NBB)
Net result for the year
€21,489
2024 · -€50,447+€71,936
Equity
€1.5m
2024 · €2.1m-€656,689
Cash
€41,771
2024 · €354,662-€312,891
Balance sheet total
€4.7m
2024 · €6.8m-€2.1m
Largest movements
Assets
- Receivables within one year -€1.5m
down €1.5m (-38.5%), from €3.8m to €2.3m
of which Trade receivables: -€805,978
- Intangible fixed assets -€365,459
down €365,459 (-13.8%), from €2.7m to €2.3m
- Cash -€312,891
down €312,891 (-88.2%), from €354,662 to €41,771
mainly Investment in fixed assets (net) (-€1.4m) and Trade debts (-€1.2m)
Equity and liabilities
- Trade debts -€1.2m
down €1.2m (-57.4%), from €2.0m to €857,066
- Investment grants -€678,178
down €678,178 (-17.3%), from €3.9m to €3.2m
- Other debts -€356,544
down €356,544 (-14.7%), from €2.4m to €2.1m
Income statement
- Gross operating margin -€1.3m
down €1.3m (-41.2%), from €3.2m to €1.9m
- Depreciation -€1.1m
down €1.1m (-39.2%), from €2.9m to €1.8m
- Financial charges -€173,824
down €173,824 (-73.1%), from €237,807 to €63,984
- Taxes -€34,277
down €34,277 (-97.8%), from €35,052 to €775
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
-€50,447
Gross operating margin
-€1.3m
Depreciation
+€1.1m
Write-downs
+€22,750
Other operating charges
+€144
Financial income
+€241
Financial charges
+€173,824
Taxes
+€34,277
Result 2025
€21,489
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
+€1.8m
Investment
-€1.4m
Financing
-€653,323
Cash 2024
€354,662
From operations (derived)
+€1.8m
Net result for the year
+€21,489
Depreciation
+€1.8m
Receivables within one year
+€1.5m
Smaller working-capital items
-€409
Trade debts
-€1.2m
Tax, wage and social debts
+€11,158
Other debts
-€356,544
Investment (derived)
-€1.4m
Investment in fixed assets (net)
-€1.4m
Current investments
-€3
Financing
-€653,323
Short-term financial debts
+€24,855
Contributions, distributions and other
-€678,178
Cash 2025
€41,771
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,844,041 | €4,710,558 | -€2.1m | -31.2% |
| Fixed assets | 21/28 | €2,709,784 | €2,342,385 | -€367,399 | -13.6% |
| Intangible fixed assets | 21 | €2,655,051 | €2,289,593 | -€365,459 | -13.8% |
| Tangible fixed assets | 22/27 | €24,465 | €22,423 | -€2,042 | -8.3% |
| Furniture and vehicles | 24 | €9,665 | €7,623 | -€2,042 | -21.1% |
| Other tangible fixed assets | 26 | €14,800 | €14,800 | = | 0.0% |
| Financial fixed assets | 28 | €30,267 | €30,369 | +€101 | +0.3% |
| Current assets | 29/58 | €4,134,257 | €2,368,173 | -€1.8m | -42.7% |
| Amounts receivable within one year | 40/41 | €3,771,333 | €2,318,898 | -€1.5m | -38.5% |
| Trade receivables | 40 | €1,254,245 | €448,266 | -€805,978 | -64.3% |
| Other amounts receivable | 41 | €2,517,089 | €1,870,632 | -€646,457 | -25.7% |
| Current investments | 50/53 | €431 | €434 | +€3 | +0.7% |
| Cash at bank and in hand | 54/58 | €354,662 | €41,771 | -€312,891 | -88.2% |
| Deferred charges and accrued income | 490/1 | €7,831 | €7,070 | -€761 | -9.7% |
| Total equity and liabilities | 10/49 | €6,844,041 | €4,710,558 | -€2.1m | -31.2% |
| Equity | 10/15 | €2,126,376 | €1,469,687 | -€656,689 | -30.9% |
| Contributions | 10/11 | €161,400 | €161,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,956,841 | -€1,935,352 | +€21,489 | +1.1% |
| Investment grants | 15 | €3,921,817 | €3,243,639 | -€678,178 | -17.3% |
| Amounts payable | 17/49 | €4,717,665 | €3,240,871 | -€1.5m | -31.3% |
| Amounts payable within one year | 42/48 | €4,702,718 | €3,227,094 | -€1.5m | -31.4% |
| Financial debts | 43 | €241,995 | €266,850 | +€24,855 | +10.3% |
| Credit institutions | 430/8 | €3,995 | €168,850 | +€164,855 | +4,126% |
| Other loans | 439 | €238,000 | €98,000 | -€140,000 | -58.8% |
| Trade debts | 44 | €2,012,159 | €857,066 | -€1.2m | -57.4% |
| Suppliers | 440/4 | €2,012,159 | €857,066 | -€1.2m | -57.4% |
| Taxes, remuneration and social security | 45 | €19,784 | €30,943 | +€11,158 | +56.4% |
| Taxes | 450/3 | €7,990 | €10,114 | +€2,124 | +26.6% |
| Remuneration and social security | 454/9 | €11,794 | €20,828 | +€9,034 | +76.6% |
| Other amounts payable | 47/48 | €2,428,779 | €2,072,235 | -€356,544 | -14.7% |
| Accrued charges and deferred income | 492/3 | €14,947 | €13,777 | -€1,170 | -7.8% |
| Non-recurring operating income | 76A | €11,076 | - | -€11,076 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,929,279 | €1,780,432 | -€1.1m | -39.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €22,750 | - | -€22,750 | |
| Other operating charges | 640/8 | €2,667 | €2,523 | -€144 | -5.4% |
| Gross operating margin | 9900 | €3,171,632 | €1,863,486 | -€1.3m | -41.2% |
| Operating profit (loss) | 9901 | €216,936 | €80,531 | -€136,405 | -62.9% |
| Financial income | 75/76B | €5,477 | €5,717 | +€241 | +4.4% |
| Recurring financial income | 75 | €5,477 | €5,717 | +€241 | +4.4% |
| Financial charges | 65/66B | €237,807 | €63,984 | -€173,824 | -73.1% |
| Recurring financial charges | 65 | €237,807 | €63,984 | -€173,824 | -73.1% |
| Profit (loss) for the period before taxes | 9903 | -€15,395 | €22,265 | +€37,659 | |
| Income taxes | 67/77 | €35,052 | €775 | -€34,277 | -97.8% |
| Profit (loss) for the period | 9904 | -€50,447 | €21,489 | +€71,936 | |
| Profit (loss) for the period to be appropriated | 9905 | -€50,447 | €21,489 | +€71,936 |
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 7 November 2026 via checked.be.