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2 Consult: 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

2 Consult

BE 0464.857.058
NACE 61.100, Wired, wireless and satellite telecommunications
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€19,059
2024 · €36,548-€17,489
Equity
€268,392
2024 · €262,517+€5,875
Cash
€56,017
2024 · €52,153+€3,863
Balance sheet total
€398,488
2024 · €395,560+€2,928

Largest movements

2024 to 2025
Assets
  • Receivables within one year -€51,330

    down €51,330 (-33.5%), from €153,216 to €101,886

    of which Trade receivables: -€72,777

  • Current investments +€42,426

    up €42,426 (+140%), from €30,386 to €72,812

  • Tangible fixed assets +€23,244

    up €23,244 (+17.2%), from €135,289 to €158,532

    of which Furniture and vehicles: +€50,846

  • Deferred charges and accrued income -€15,276

    down €15,276 (-89.8%), from €17,017 to €1,741

Equity and liabilities
  • Trade debts -€19,301

    down €19,301 (-95.0%), from €20,309 to €1,009

  • Other debts +€10,988

    up €10,988 (+981%), from €1,120 to €12,108

  • Debts after one year -€8,092

    down €8,092 (-20.0%), from €40,525 to €32,433

  • Tax, wage and social debts +€7,100

    up €7,100 (+22.4%), from €31,647 to €38,747

  • Current portion of long-term debt +€6,780

    up €6,780 (+18.0%), from €37,752 to €44,532

Income statement
  • Gross operating margin -€10,425

    down €10,425 (-12.1%), from €85,912 to €75,487

  • Depreciation +€8,103

    up €8,103 (+26.0%), from €31,113 to €39,216

  • Taxes -€6,869

    down €6,869 (-41.2%), from €16,685 to €9,815

  • Other operating charges +€6,523

    up €6,523 (+827%), from €789 to €7,312

  • Financial income +€1,795

    up €1,795 (+122%), from €1,467 to €3,262

From the 2024 result to the 2025 result

effect on the 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 €36,548
Gross operating margin -€10,425
Staff costs -€144
Depreciation -€8,103
Provisions -€1,667
Other operating charges -€6,523
Financial income +€1,795
Financial charges +€708
Taxes +€6,869
Result 2025 €19,059
raises the resultlowers the result

Derived cash bridge

cash 2024 to 2025

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 +€123,246
Investment -€104,886
Financing -€14,496
Cash 2024 €52,153
Net result for the year +€19,059
Depreciation +€39,216
Receivables within one year +€51,330
Deferred charges and accrued income +€15,276
Provisions -€423
Trade debts -€19,301
Tax, wage and social debts +€7,100
Other debts +€10,988
Investment in fixed assets (net) -€62,460
Current investments -€42,426
Debts after one year -€8,092
Current portion of long-term debt +€6,780
Contributions, distributions and other -€13,184
Cash 2025 €56,017
brings cash intakes cash out
Every line side by side 54 lines
Line Code 2024 2025 Change %
Total assets 20/58 €395,560 €398,488 +€2,928 +0.7%
Fixed assets 21/28 €142,789 €166,032 +€23,244 +16.3%
Tangible fixed assets 22/27 €135,289 €158,532 +€23,244 +17.2%
Land and buildings 22 €127,644 €99,799 -€27,845 -21.8%
Plant, machinery and equipment 23 €1,591 €2,139 +€549 +34.5%
Furniture and vehicles 24 €4,546 €55,392 +€50,846 +1,118%
Other tangible fixed assets 26 €1,507 €1,201 -€306 -20.3%
Financial fixed assets 28 €7,500 €7,500 = 0.0%
Current assets 29/58 €252,772 €232,456 -€20,316 -8.0%
Amounts receivable within one year 40/41 €153,216 €101,886 -€51,330 -33.5%
Trade receivables 40 €111,748 €38,971 -€72,777 -65.1%
Other amounts receivable 41 €41,468 €62,915 +€21,447 +51.7%
Current investments 50/53 €30,386 €72,812 +€42,426 +140%
Cash at bank and in hand 54/58 €52,153 €56,017 +€3,863 +7.4%
Deferred charges and accrued income 490/1 €17,017 €1,741 -€15,276 -89.8%
Total equity and liabilities 10/49 €395,560 €398,488 +€2,928 +0.7%
Equity 10/15 €262,517 €268,392 +€5,875 +2.2%
Contributions 10/11 €12,743 €12,743 = 0.0%
Reserves 13 €249,774 €255,649 +€5,875 +2.4%
Non-distributable reserves 130/1 €1,872 €1,872 = 0.0%
Reserves not available under the articles 1311 €1,872 €1,872 = 0.0%
Tax-exempt reserves 132 €3,281 €2,461 -€820 -25.0%
Distributable reserves 133 €244,622 €251,317 +€6,695 +2.7%
Profit (loss) carried forward 14 €0 €0 =
Provisions and deferred taxes 16 €1,689 €1,266 -€423 -25.0%
Provisions for liabilities and charges 160/5 €0 - =
Pensions and similar obligations 160 €0 - =
Deferred taxes 168 €1,689 €1,266 -€423 -25.0%
Amounts payable 17/49 €131,353 €128,829 -€2,524 -1.9%
Amounts payable after more than one year 17 €40,525 €32,433 -€8,092 -20.0%
Financial debts 170/4 €40,525 €32,433 -€8,092 -20.0%
Amounts payable within one year 42/48 €90,828 €96,396 +€5,568 +6.1%
Current portion of amounts payable after more than one year 42 €37,752 €44,532 +€6,780 +18.0%
Trade debts 44 €20,309 €1,009 -€19,301 -95.0%
Suppliers 440/4 €20,309 €1,009 -€19,301 -95.0%
Taxes, remuneration and social security 45 €31,647 €38,747 +€7,100 +22.4%
Taxes 450/3 €31,647 €38,747 +€7,100 +22.4%
Other amounts payable 47/48 €1,120 €12,108 +€10,988 +981%
Remuneration, social security and pensions 62 - €144 +€144
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets 630 €31,113 €39,216 +€8,103 +26.0%
Provisions for liabilities and charges: additions (uses and reversals) 635/8 -€1,667 €0 +€1,667
Other operating charges 640/8 €789 €7,312 +€6,523 +827%
Gross operating margin 9900 €85,912 €75,487 -€10,425 -12.1%
Operating profit (loss) 9901 €55,677 €28,815 -€26,862 -48.2%
Financial income 75/76B €1,467 €3,262 +€1,795 +122%
Recurring financial income 75 €1,467 €3,262 +€1,795 +122%
Financial charges 65/66B €4,333 €3,626 -€708 -16.3%
Recurring financial charges 65 €4,333 €3,626 -€708 -16.3%
Profit (loss) for the period before taxes 9903 €52,810 €28,451 -€24,359 -46.1%
Transfer from deferred taxes 780 €422 €423 +€1 +0.1%
Income taxes 67/77 €16,685 €9,815 -€6,869 -41.2%
Profit (loss) for the period 9904 €36,548 €19,059 -€17,489 -47.9%
Transfer from tax-exempt reserves 789 €820 €820 = 0.0%
Profit (loss) for the period to be appropriated 9905 €37,368 €19,879 -€17,489 -46.8%

Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.