LE TELEGRAPHE: 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.
LE TELEGRAPHE
Largest movements
- Receivables within one year -€38,375
down €38,375 (-87.0%), from €44,091 to €5,716
of which Other amounts receivable: -€34,511
- Tangible fixed assets -€3,365
down €3,365 (-24.9%), from €13,493 to €10,127
of which Furniture and vehicles: -€4,408
- Cash -€2,260
down €2,260 (-39.0%), from €5,794 to €3,534
mainly Other debts (-€29,722) and Current portion of long-term debt (-€8,695)
- Stocks and contracts +€1,788
up €1,788 (+87.4%), from €2,046 to €3,835
- Other debts -€29,722
down €29,722 (-99.2%), from €29,973 to €251
- Current portion of long-term debt -€8,695
down €8,695 (-91.6%), from €9,498 to €802
- Trade debts +€2,992
up €2,992 (+43.1%), from €6,944 to €9,936
- Tax, wage and social debts -€2,918
down €2,918 (-21.7%), from €13,429 to €10,512
of which Taxes: -€2,861
- Profit (loss) carried forward -€1,328
new in 2025: -€1,328
- Gross operating margin -€28,299
down €28,299 (-76.2%), from €37,119 to €8,820
- Other operating charges +€978
up €978 (+36.4%), from €2,687 to €3,664
- Financial charges -€801
down €801 (-42.1%), from €1,905 to €1,104
- Depreciation +€458
up €458 (+8.1%), from €5,674 to €6,131
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 | €69,805 | €28,664 | -€41,141 | -58.9% |
| Fixed assets | 21/28 | €17,236 | €14,349 | -€2,887 | -16.8% |
| Tangible fixed assets | 22/27 | €13,493 | €10,127 | -€3,365 | -24.9% |
| Plant, machinery and equipment | 23 | €2,542 | €3,585 | +€1,043 | +41.0% |
| Furniture and vehicles | 24 | €10,950 | €6,543 | -€4,408 | -40.3% |
| Financial fixed assets | 28 | €3,743 | €4,221 | +€478 | +12.8% |
| Current assets | 29/58 | €52,569 | €14,315 | -€38,254 | -72.8% |
| Stocks and contracts in progress | 3 | €2,046 | €3,835 | +€1,788 | +87.4% |
| Stocks | 30/36 | €2,046 | €3,835 | +€1,788 | +87.4% |
| Amounts receivable within one year | 40/41 | €44,091 | €5,716 | -€38,375 | -87.0% |
| Trade receivables | 40 | €7,369 | €3,505 | -€3,864 | -52.4% |
| Other amounts receivable | 41 | €36,722 | €2,211 | -€34,511 | -94.0% |
| Cash at bank and in hand | 54/58 | €5,794 | €3,534 | -€2,260 | -39.0% |
| Deferred charges and accrued income | 490/1 | €637 | €1,231 | +€593 | +93.1% |
| Total equity and liabilities | 10/49 | €69,805 | €28,664 | -€41,141 | -58.9% |
| Equity | 10/15 | €9,158 | €6,729 | -€2,430 | -26.5% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €2,961 | €1,859 | -€1,102 | -37.2% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,102 | - | -€1,102 | |
| Profit (loss) carried forward | 14 | - | -€1,328 | -€1,328 | |
| Amounts payable | 17/49 | €60,647 | €21,935 | -€38,711 | -63.8% |
| Amounts payable after more than one year | 17 | €802 | - | -€802 | |
| Financial debts | 170/4 | €802 | - | -€802 | |
| Amounts payable within one year | 42/48 | €59,844 | €21,935 | -€37,909 | -63.3% |
| Current portion of amounts payable after more than one year | 42 | €9,498 | €802 | -€8,695 | -91.6% |
| Financial debts | 43 | - | €434 | +€434 | |
| Credit institutions | 430/8 | - | €434 | +€434 | |
| Trade debts | 44 | €6,944 | €9,936 | +€2,992 | +43.1% |
| Suppliers | 440/4 | €6,944 | €9,936 | +€2,992 | +43.1% |
| Taxes, remuneration and social security | 45 | €13,429 | €10,512 | -€2,918 | -21.7% |
| Taxes | 450/3 | €13,373 | €10,512 | -€2,861 | -21.4% |
| Remuneration and social security | 454/9 | €56 | - | -€56 | |
| Other amounts payable | 47/48 | €29,973 | €251 | -€29,722 | -99.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,674 | €6,131 | +€458 | +8.1% |
| Other operating charges | 640/8 | €2,687 | €3,664 | +€978 | +36.4% |
| Gross operating margin | 9900 | €37,119 | €8,820 | -€28,299 | -76.2% |
| Operating profit (loss) | 9901 | €28,759 | -€975 | -€29,734 | |
| Financial income | 75/76B | €1 | €3 | +€1 | +141% |
| Recurring financial income | 75 | €1 | €3 | +€1 | +141% |
| Financial charges | 65/66B | €1,905 | €1,104 | -€801 | -42.1% |
| Recurring financial charges | 65 | €1,905 | €1,104 | -€801 | -42.1% |
| Profit (loss) for the period before taxes | 9903 | €26,855 | -€2,077 | -€28,932 | |
| Income taxes | 67/77 | €457 | €353 | -€104 | -22.8% |
| Profit (loss) for the period | 9904 | €26,398 | -€2,430 | -€28,827 | |
| Profit (loss) for the period to be appropriated | 9905 | €26,398 | -€2,430 | -€28,827 |
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 20 October 2026 via checked.be.