EQTELO: 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.
EQTELO
Largest movements
- Tangible fixed assets +€51,059
up €51,059 (+798.0%), from €6,399 to €57,457
of which Leasing and similar rights: +€49,711
- Receivables within one year -€31,283
down €31,283 (-28.7%), from €109,191 to €77,907
of which Trade receivables: -€31,291
- Reserves +€38,802
up €38,802 (+9.0%), from €430,154 to €468,955
- Tax, wage and social debts -€14,483
down €14,483 (-47.8%), from €30,278 to €15,795
of which Taxes: -€11,783
- Current portion of long-term debt +€7,368
up €7,368 (+18.7%), from €39,496 to €46,864
- Financial income -€124,930
down €124,930 (-99.3%), from €125,818 to €888
- Gross operating margin -€15,228
down €15,228 (-17.5%), from €87,106 to €71,878
- Taxes -€10,803
down €10,803 (-37.0%), from €29,173 to €18,370
- Depreciation -€8,695
down €8,695 (-54.1%), from €16,084 to €7,389
- Other operating charges +€1,413
up €1,413 (+229.1%), from €617 to €2,029
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 | €673,275 | €695,144 | +€21,869 | +3.2% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €550,998 | €602,056 | +€51,059 | +9.3% |
| Tangible fixed assets | 22/27 | €6,399 | €57,457 | +€51,059 | +798.0% |
| Land and buildings | 22 | €6,214 | €5,214 | -€1,000 | -16.1% |
| Plant, machinery and equipment | 23 | €0 | €2,533 | +€2,533 | |
| Furniture and vehicles | 24 | €185 | €0 | -€185 | -100.0% |
| Leasing and similar rights | 25 | - | €49,711 | +€49,711 | |
| Financial fixed assets | 28 | €544,599 | €544,599 | = | 0.0% |
| Current assets | 29/58 | €122,277 | €93,087 | -€29,190 | -23.9% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €109,191 | €77,907 | -€31,283 | -28.7% |
| Trade receivables | 40 | €78,251 | €46,959 | -€31,291 | -40.0% |
| Other amounts receivable | 41 | €30,940 | €30,948 | +€8 | 0.0% |
| Cash at bank and in hand | 54/58 | €12,532 | €14,357 | +€1,825 | +14.6% |
| Deferred charges and accrued income | 490/1 | €554 | €823 | +€269 | +48.5% |
| Total equity and liabilities | 10/49 | €673,275 | €695,144 | +€21,869 | +3.2% |
| Equity | 10/15 | €448,754 | €487,555 | +€38,802 | +8.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €430,154 | €468,955 | +€38,802 | +9.0% |
| Distributable reserves | 133 | €430,154 | €468,955 | +€38,802 | +9.0% |
| Amounts payable | 17/49 | €224,521 | €207,589 | -€16,933 | -7.5% |
| Amounts payable after more than one year | 17 | €145,677 | €141,492 | -€4,186 | -2.9% |
| Financial debts | 170/4 | €145,677 | €141,492 | -€4,186 | -2.9% |
| Amounts payable within one year | 42/48 | €78,844 | €66,097 | -€12,747 | -16.2% |
| Current portion of amounts payable after more than one year | 42 | €39,496 | €46,864 | +€7,368 | +18.7% |
| Financial debts | 43 | €2,532 | €2,976 | +€444 | +17.5% |
| Credit institutions | 430/8 | €2,532 | €2,976 | +€444 | +17.5% |
| Trade debts | 44 | €6,537 | €462 | -€6,075 | -92.9% |
| Suppliers | 440/4 | €6,537 | €462 | -€6,075 | -92.9% |
| Taxes, remuneration and social security | 45 | €30,278 | €15,795 | -€14,483 | -47.8% |
| Taxes | 450/3 | €27,578 | €15,795 | -€11,783 | -42.7% |
| Remuneration and social security | 454/9 | €2,700 | €0 | -€2,700 | -100.0% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,084 | €7,389 | -€8,695 | -54.1% |
| Other operating charges | 640/8 | €617 | €2,029 | +€1,413 | +229.1% |
| Non-recurring operating charges | 66A | €595 | €0 | -€595 | -100.0% |
| Gross operating margin | 9900 | €87,106 | €71,878 | -€15,228 | -17.5% |
| Operating profit (loss) | 9901 | €69,811 | €62,460 | -€7,351 | -10.5% |
| Financial income | 75/76B | €125,818 | €888 | -€124,930 | -99.3% |
| Recurring financial income | 75 | €125,818 | €888 | -€124,930 | -99.3% |
| Financial charges | 65/66B | €5,729 | €6,176 | +€447 | +7.8% |
| Recurring financial charges | 65 | €5,729 | €6,176 | +€447 | +7.8% |
| Profit (loss) for the period before taxes | 9903 | €189,900 | €57,171 | -€132,728 | -69.9% |
| Income taxes | 67/77 | €29,173 | €18,370 | -€10,803 | -37.0% |
| Profit (loss) for the period | 9904 | €160,727 | €38,802 | -€121,926 | -75.9% |
| Profit (loss) for the period to be appropriated | 9905 | €160,727 | €38,802 | -€121,926 | -75.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.