OTELFOX: 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.
OTELFOX
Largest movements
- Tangible fixed assets +€349,113
up €349,113 (+814.2%), from €42,880 to €391,994
of which Other tangible fixed assets: +€312,354
- Cash -€139,215
down €139,215 (-73.1%), from €190,364 to €51,149
mainly Investment in fixed assets (net) (-€370,164) and Tax, wage and social debts (-€67,762)
- Receivables within one year -€63,415
down €63,415 (-92.3%), from €68,687 to €5,273
of which Trade receivables: -€62,132
- Stocks and contracts +€49,073
up €49,073 (+99.3%), from €49,427 to €98,500
- Deferred charges and accrued income -€6,570
down €6,570 (-100.0%), from €6,570 to €0
- Trade debts +€214,399
up €214,399 (+290.5%), from €73,803 to €288,201
- Tax, wage and social debts -€67,762
down €67,762 (-49.2%), from €137,692 to €69,931
of which Remuneration and social security: -€48,479
- Reserves +€46,353
up €46,353 (+43.1%), from €107,635 to €153,988
of which Distributable reserves: +€46,353
- Profit (loss) carried forward +€15,823
up €15,823, from -€15,823 to €0
- Short-term financial debts -€7,827
down €7,827 (-73.3%), from €10,679 to €2,852
- Staff costs -€147,679
down €147,679 (-24.7%), from €597,628 to €449,949
- Gross operating margin -€75,825
down €75,825 (-11.9%), from €636,827 to €561,002
- Financial charges +€10,695
up €10,695 (+151.7%), from €7,050 to €17,744
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 | €359,906 | €549,057 | +€189,150 | +52.6% |
| Fixed assets | 21/28 | €44,858 | €394,135 | +€349,276 | +778.6% |
| Intangible fixed assets | 21 | €1,978 | €2,141 | +€163 | +8.3% |
| Tangible fixed assets | 22/27 | €42,880 | €391,994 | +€349,113 | +814.2% |
| Land and buildings | 22 | €318 | €0 | -€318 | -100.0% |
| Plant, machinery and equipment | 23 | €1,136 | €723 | -€413 | -36.4% |
| Furniture and vehicles | 24 | €17,931 | €55,421 | +€37,490 | +209.1% |
| Other tangible fixed assets | 26 | €23,495 | €335,849 | +€312,354 | +1329.5% |
| Current assets | 29/58 | €315,048 | €154,922 | -€160,126 | -50.8% |
| Stocks and contracts in progress | 3 | €49,427 | €98,500 | +€49,073 | +99.3% |
| Stocks | 30/36 | €49,427 | €98,500 | +€49,073 | +99.3% |
| Amounts receivable within one year | 40/41 | €68,687 | €5,273 | -€63,415 | -92.3% |
| Trade receivables | 40 | €67,209 | €5,077 | -€62,132 | -92.4% |
| Other amounts receivable | 41 | €1,479 | €196 | -€1,283 | -86.7% |
| Cash at bank and in hand | 54/58 | €190,364 | €51,149 | -€139,215 | -73.1% |
| Deferred charges and accrued income | 490/1 | €6,570 | €0 | -€6,570 | -100.0% |
| Total equity and liabilities | 10/49 | €359,906 | €549,057 | +€189,150 | +52.6% |
| Equity | 10/15 | €110,413 | €172,588 | +€62,175 | +56.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €107,635 | €153,988 | +€46,353 | +43.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €107,635 | €153,988 | +€46,353 | +43.1% |
| Profit (loss) carried forward | 14 | -€15,823 | €0 | +€15,823 | |
| Amounts payable | 17/49 | €249,494 | €376,469 | +€126,975 | +50.9% |
| Amounts payable after more than one year | 17 | €7,000 | €0 | -€7,000 | -100.0% |
| Financial debts | 170/4 | €7,000 | €0 | -€7,000 | -100.0% |
| Amounts payable within one year | 42/48 | €236,165 | €376,469 | +€140,303 | +59.4% |
| Financial debts | 43 | €10,679 | €2,852 | -€7,827 | -73.3% |
| Credit institutions | 430/8 | €10,679 | €2,852 | -€7,827 | -73.3% |
| Trade debts | 44 | €73,803 | €288,201 | +€214,399 | +290.5% |
| Suppliers | 440/4 | €73,803 | €288,201 | +€214,399 | +290.5% |
| Advances received on contracts in progress | 46 | - | €2,860 | +€2,860 | |
| Taxes, remuneration and social security | 45 | €137,692 | €69,931 | -€67,762 | -49.2% |
| Taxes | 450/3 | €47,091 | €27,808 | -€19,283 | -40.9% |
| Remuneration and social security | 454/9 | €90,602 | €42,123 | -€48,479 | -53.5% |
| Other amounts payable | 47/48 | €13,992 | €12,625 | -€1,367 | -9.8% |
| Accrued charges and deferred income | 492/3 | €6,328 | €0 | -€6,328 | -100.0% |
| Non-recurring operating income | 76A | - | €1,547 | +€1,547 | |
| Remuneration, social security and pensions | 62 | €597,628 | €449,949 | -€147,679 | -24.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,792 | €20,887 | -€1,904 | -8.4% |
| Other operating charges | 640/8 | €8,022 | €7,020 | -€1,002 | -12.5% |
| Gross operating margin | 9900 | €636,827 | €561,002 | -€75,825 | -11.9% |
| Operating profit (loss) | 9901 | €8,386 | €83,146 | +€74,760 | +891.5% |
| Financial income | 75/76B | €316 | €2,249 | +€1,933 | +611.1% |
| Recurring financial income | 75 | €316 | €2,249 | +€1,933 | +611.1% |
| Financial charges | 65/66B | €7,050 | €17,744 | +€10,695 | +151.7% |
| Recurring financial charges | 65 | €7,050 | €17,744 | +€10,695 | +151.7% |
| Profit (loss) for the period before taxes | 9903 | €1,652 | €67,651 | +€65,999 | +3994.1% |
| Income taxes | 67/77 | €368 | €5,476 | +€5,108 | +1388.1% |
| Profit (loss) for the period | 9904 | €1,284 | €62,175 | +€60,891 | +4740.6% |
| Profit (loss) for the period to be appropriated | 9905 | €1,284 | €62,175 | +€60,891 | +4740.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.