ECOM - TELCOM- TECOM: what changed
Two fiscal 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.
ECOM - TELCOM- TECOM
Largest movements
- Receivables within one year -€445,009
down €445,009 (-91.1%), from €488,462 to €43,453
of which Trade receivables: -€445,078
- Cash +€255,321
up €255,321 (+1919.6%), from €13,301 to €268,623
mainly Receivables within one year (+€445,009) and Depreciation (+€356,832)
- Tangible fixed assets -€161,459
down €161,459 (-7.2%), from €2.3m to €2.1m
- Profit (loss) carried forward -€444,195
down €444,195 (-17.7%), from -€2.5m to -€3.0m
- Tax, wage and social debts +€49,703
up €49,703 (+3155.7%), from €1,575 to €51,278
- Other debts +€45,200
up €45,200 (+1.1%), from €4.1m to €4.2m
- Trade debts +€38,700
up €38,700 (+13.7%), from €282,907 to €321,607
- Gross operating margin -€46,196
down €46,196 (-249.0%), from -€18,554 to -€64,750
- Other operating charges +€35,032
up €35,032 (+126.7%), from €27,647 to €62,679
- Depreciation +€9,902
up €9,902 (+2.9%), from €346,930 to €356,832
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.
Cash bridge derived
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 | €2,758,261 | €2,407,114 | -€351,147 | -12.7% |
| Fixed assets | 21/28 | €2,256,498 | €2,095,039 | -€161,459 | -7.2% |
| Tangible fixed assets | 22/27 | €2,256,498 | €2,095,039 | -€161,459 | -7.2% |
| Other tangible fixed assets | 26 | €2,256,498 | €2,095,039 | -€161,459 | -7.2% |
| Current assets | 29/58 | €501,763 | €312,075 | -€189,688 | -37.8% |
| Amounts receivable within one year | 40/41 | €488,462 | €43,453 | -€445,009 | -91.1% |
| Trade receivables | 40 | €451,271 | €6,193 | -€445,078 | -98.6% |
| Other amounts receivable | 41 | €37,191 | €37,260 | +€69 | +0.2% |
| Cash at bank and in hand | 54/58 | €13,301 | €268,623 | +€255,321 | +1919.6% |
| Total equity and liabilities | 10/49 | €2,758,261 | €2,407,114 | -€351,147 | -12.7% |
| Equity | 10/15 | -€1,681,379 | -€2,152,340 | -€470,961 | -28.0% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Capital | 10 | €500,000 | €500,000 | = | 0.0% |
| Issued capital | 100 | €500,000 | €500,000 | = | 0.0% |
| Reserves | 13 | €335,118 | €308,352 | -€26,766 | -8.0% |
| Non-distributable reserves | 130/1 | €17,351 | €17,351 | = | 0.0% |
| Legal reserve | 130 | €17,351 | €17,351 | = | 0.0% |
| Tax-exempt reserves | 132 | €53,533 | €26,766 | -€26,766 | -50.0% |
| Distributable reserves | 133 | €264,235 | €264,235 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,516,498 | -€2,960,692 | -€444,195 | -17.7% |
| Provisions and deferred taxes | 16 | €27,577 | €13,789 | -€13,789 | -50.0% |
| Deferred taxes | 168 | €27,577 | €13,789 | -€13,789 | -50.0% |
| Amounts payable | 17/49 | €4,412,063 | €4,545,665 | +€133,603 | +3.0% |
| Amounts payable within one year | 42/48 | €4,412,063 | €4,545,665 | +€133,603 | +3.0% |
| Trade debts | 44 | €282,907 | €321,607 | +€38,700 | +13.7% |
| Suppliers | 440/4 | €282,907 | €321,607 | +€38,700 | +13.7% |
| Taxes, remuneration and social security | 45 | €1,575 | €51,278 | +€49,703 | +3155.7% |
| Taxes | 450/3 | €1,575 | €51,278 | +€49,703 | +3155.7% |
| Other amounts payable | 47/48 | €4,127,581 | €4,172,781 | +€45,200 | +1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €346,930 | €356,832 | +€9,902 | +2.9% |
| Other operating charges | 640/8 | €27,647 | €62,679 | +€35,032 | +126.7% |
| Gross operating margin | 9900 | -€18,554 | -€64,750 | -€46,196 | -249.0% |
| Operating profit (loss) | 9901 | -€393,131 | -€484,262 | -€91,130 | -23.2% |
| Financial income | 75/76B | €38 | €38 | +€0 | +0.2% |
| Recurring financial income | 75 | €38 | €38 | +€0 | +0.2% |
| Financial charges | 65/66B | €565 | €515 | -€51 | -9.0% |
| Recurring financial charges | 65 | €565 | €515 | -€51 | -9.0% |
| Profit (loss) for the period before taxes | 9903 | -€393,659 | -€484,739 | -€91,079 | -23.1% |
| Transfer from deferred taxes | 780 | €40,555 | €40,555 | = | 0.0% |
| Income taxes | 67/77 | - | €11 | +€11 | |
| Profit (loss) for the period | 9904 | -€353,104 | -€444,195 | -€91,091 | -25.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€353,104 | -€444,195 | -€91,091 | -25.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.