COMPUTER TELECOM: 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.
COMPUTER TELECOM
Largest movements
- Tangible fixed assets +€250,193
up €250,193 (+33.1%), from €754,837 to €1.0m
of which Assets under construction and advance payments: +€293,073
- Receivables within one year -€164,703
down €164,703 (-13.3%), from €1.2m to €1.1m
of which Trade receivables: -€183,180
- Deferred charges and accrued income +€161,799
up €161,799 (+54.1%), from €299,000 to €460,798
- Cash +€150,516
up €150,516 (+627%), from €24,010 to €174,526
mainly Debts after one year (+€440,169) and Receivables within one year (+€164,703)
- Intangible fixed assets +€49,052
up €49,052 (+70.0%), from €70,077 to €119,130
- Debts after one year +€440,169
up €440,169 (+96.2%), from €457,779 to €897,948
- Current portion of long-term debt -€280,501
down €280,501 (-76.9%), from €364,753 to €84,252
- Reserves +€148,038
up €148,038 (+20.1%), from €737,931 to €885,969
of which Distributable reserves: +€150,746
- Trade debts +€96,586
up €96,586 (+13.3%), from €726,557 to €823,143
- Staff costs -€104,318
down €104,318 (-11.9%), from €878,549 to €774,231
- Financial charges +€41,646
up €41,646 (+74.3%), from €56,017 to €97,663
of which Financial charges: +€33,228
- Gross operating margin -€20,091
down €20,091 (-1.6%), from €1.3m to €1.3m
- Taxes +€18,875
up €18,875 (+23.6%), from €80,046 to €98,921
- Depreciation +€15,428
up €15,428 (+13.9%), from €111,178 to €126,606
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,553,453 | €2,994,566 | +€441,113 | +17.3% |
| Fixed assets | 21/28 | €824,915 | €1,124,160 | +€299,245 | +36.3% |
| Intangible fixed assets | 21 | €70,077 | €119,130 | +€49,052 | +70.0% |
| Tangible fixed assets | 22/27 | €754,837 | €1,005,030 | +€250,193 | +33.1% |
| Land and buildings | 22 | €601,553 | €586,785 | -€14,768 | -2.5% |
| Plant, machinery and equipment | 23 | €84,013 | €75,608 | -€8,405 | -10.0% |
| Furniture and vehicles | 24 | €62,772 | €44,539 | -€18,233 | -29.0% |
| Other tangible fixed assets | 26 | €6,500 | €5,026 | -€1,474 | -22.7% |
| Assets under construction and advance payments | 27 | - | €293,073 | +€293,073 | |
| Current assets | 29/58 | €1,728,538 | €1,870,406 | +€141,868 | +8.2% |
| Amounts receivable after more than one year | 29 | €140,249 | €132,999 | -€7,250 | -5.2% |
| Other amounts receivable | 291 | €140,249 | €132,999 | -€7,250 | -5.2% |
| Stocks and contracts in progress | 3 | €22,831 | €24,337 | +€1,507 | +6.6% |
| Stocks | 30/36 | €22,831 | €24,337 | +€1,507 | +6.6% |
| Amounts receivable within one year | 40/41 | €1,242,448 | €1,077,746 | -€164,703 | -13.3% |
| Trade receivables | 40 | €1,171,835 | €988,655 | -€183,180 | -15.6% |
| Other amounts receivable | 41 | €70,613 | €89,090 | +€18,477 | +26.2% |
| Cash at bank and in hand | 54/58 | €24,010 | €174,526 | +€150,516 | +627% |
| Deferred charges and accrued income | 490/1 | €299,000 | €460,798 | +€161,799 | +54.1% |
| Total equity and liabilities | 10/49 | €2,553,453 | €2,994,566 | +€441,113 | +17.3% |
| Equity | 10/15 | €750,381 | €898,419 | +€148,038 | +19.7% |
| Contributions | 10/11 | €12,450 | €12,450 | = | 0.0% |
| Reserves | 13 | €737,931 | €885,969 | +€148,038 | +20.1% |
| Tax-exempt reserves | 132 | €39,733 | €37,025 | -€2,708 | -6.8% |
| Distributable reserves | 133 | €698,198 | €848,944 | +€150,746 | +21.6% |
| Provisions and deferred taxes | 16 | €13,244 | €12,342 | -€903 | -6.8% |
| Deferred taxes | 168 | €13,244 | €12,342 | -€903 | -6.8% |
| Amounts payable | 17/49 | €1,789,828 | €2,083,806 | +€293,978 | +16.4% |
| Amounts payable after more than one year | 17 | €457,779 | €897,948 | +€440,169 | +96.2% |
| Financial debts | 170/4 | €457,779 | €897,948 | +€440,169 | +96.2% |
| Amounts payable within one year | 42/48 | €1,332,048 | €1,157,660 | -€174,389 | -13.1% |
| Current portion of amounts payable after more than one year | 42 | €364,753 | €84,252 | -€280,501 | -76.9% |
| Financial debts | 43 | - | €6,606 | +€6,606 | |
| Other loans | 439 | - | €6,606 | +€6,606 | |
| Trade debts | 44 | €726,557 | €823,143 | +€96,586 | +13.3% |
| Suppliers | 440/4 | €726,557 | €823,143 | +€96,586 | +13.3% |
| Taxes, remuneration and social security | 45 | €220,738 | €243,659 | +€22,920 | +10.4% |
| Taxes | 450/3 | €103,039 | €118,269 | +€15,230 | +14.8% |
| Remuneration and social security | 454/9 | €117,700 | €125,390 | +€7,690 | +6.5% |
| Other amounts payable | 47/48 | €20,000 | - | -€20,000 | |
| Accrued charges and deferred income | 492/3 | - | €28,198 | +€28,198 | |
| Non-recurring operating income | 76A | €13,652 | €16,707 | +€3,054 | +22.4% |
| Remuneration, social security and pensions | 62 | €878,549 | €774,231 | -€104,318 | -11.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €111,178 | €126,606 | +€15,428 | +13.9% |
| Other operating charges | 640/8 | €9,631 | €11,437 | +€1,806 | +18.8% |
| Non-recurring operating charges | 66A | €16,856 | €8,831 | -€8,025 | -47.6% |
| Gross operating margin | 9900 | €1,284,916 | €1,264,826 | -€20,091 | -1.6% |
| Operating profit (loss) | 9901 | €268,702 | €343,720 | +€75,018 | +27.9% |
| Financial income | 75/76B | €995 | - | -€995 | |
| Recurring financial income | 75 | €995 | - | -€995 | |
| Financial charges | 65/66B | €56,017 | €97,663 | +€41,646 | +74.3% |
| Recurring financial charges | 65 | €55,345 | €88,573 | +€33,228 | +60.0% |
| Non-recurring financial charges | 66B | €672 | €9,090 | +€8,418 | +1,253% |
| Profit (loss) for the period before taxes | 9903 | €213,680 | €246,057 | +€32,377 | +15.2% |
| Transfer from deferred taxes | 780 | - | €903 | +€903 | |
| Income taxes | 67/77 | €80,046 | €98,921 | +€18,875 | +23.6% |
| Profit (loss) for the period | 9904 | €133,634 | €148,038 | +€14,404 | +10.8% |
| Transfer from tax-exempt reserves | 789 | - | €2,708 | +€2,708 | |
| Profit (loss) for the period to be appropriated | 9905 | €133,634 | €150,746 | +€17,112 | +12.8% |
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 19 October 2026 via checked.be.