PRETEL: 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.
PRETEL
Largest movements
- Cash +€59,573
up €59,573 (+80.4%), from €74,109 to €133,682
mainly Net result for the year (+€77,413) and Depreciation (+€6,354)
- Reserves +€77,413
up €77,413 (+53.3%), from €145,376 to €222,789
of which Distributable reserves: +€77,413
- Financial income +€41,022
up €41,022 (+71.4%), from €57,485 to €98,507
of which Non-recurring financial income: +€38,436
- Taxes +€13,178
up €13,178 (+53.4%), from €24,695 to €37,873
- Purchases and services +€2,703
up €2,703 (+5.0%), from €54,376 to €57,079
- Depreciation -€2,539
down €2,539 (-28.6%), from €8,893 to €6,354
- Gross operating margin -€1,432
down €1,432 (-4.1%), from €34,515 to €33,083
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 | €2,697,649 | €2,779,315 | +€81,666 | +3.0% |
| Fixed assets | 21/28 | €1,573,934 | €1,568,567 | -€5,367 | -0.3% |
| Tangible fixed assets | 22/27 | €1,573,934 | €1,568,567 | -€5,367 | -0.3% |
| Land and buildings | 22 | €1,567,344 | €1,567,344 | = | 0.0% |
| Plant, machinery and equipment | 23 | €1,040 | €369 | -€671 | -64.5% |
| Furniture and vehicles | 24 | €5,550 | €854 | -€4,696 | -84.6% |
| Current assets | 29/58 | €1,123,715 | €1,210,748 | +€87,033 | +7.7% |
| Amounts receivable within one year | 40/41 | €1,491 | €1,532 | +€41 | +2.7% |
| Other amounts receivable | 41 | €1,491 | €1,532 | +€41 | +2.7% |
| Current investments | 50/53 | €1,048,115 | €1,075,534 | +€27,419 | +2.6% |
| Cash at bank and in hand | 54/58 | €74,109 | €133,682 | +€59,573 | +80.4% |
| Total equity and liabilities | 10/49 | €2,697,649 | €2,779,315 | +€81,666 | +3.0% |
| Equity | 10/15 | €2,681,982 | €2,759,395 | +€77,413 | +2.9% |
| Contributions | 10/11 | €91,101 | €91,101 | = | 0.0% |
| Capital | 10 | €91,101 | €91,101 | = | 0.0% |
| Issued capital | 100 | €91,101 | €91,101 | = | 0.0% |
| Reserves | 13 | €145,376 | €222,789 | +€77,413 | +53.3% |
| Non-distributable reserves | 130/1 | €9,110 | €9,110 | = | 0.0% |
| Legal reserve | 130 | €9,110 | €9,110 | = | 0.0% |
| Distributable reserves | 133 | €136,266 | €213,679 | +€77,413 | +56.8% |
| Profit (loss) carried forward | 14 | €2,445,505 | €2,445,505 | = | 0.0% |
| Amounts payable | 17/49 | €15,667 | €19,920 | +€4,253 | +27.1% |
| Amounts payable within one year | 42/48 | €7,162 | €10,006 | +€2,844 | +39.7% |
| Trade debts | 44 | €392 | €920 | +€528 | +134.7% |
| Suppliers | 440/4 | €392 | €920 | +€528 | +134.7% |
| Taxes, remuneration and social security | 45 | €6,531 | €9,082 | +€2,551 | +39.1% |
| Taxes | 450/3 | €6,531 | €9,082 | +€2,551 | +39.1% |
| Other amounts payable | 47/48 | €239 | €4 | -€235 | -98.3% |
| Accrued charges and deferred income | 492/3 | €8,505 | €9,914 | +€1,409 | +16.6% |
| Turnover | 70 | €88,891 | €90,162 | +€1,271 | +1.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €54,376 | €57,079 | +€2,703 | +5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,893 | €6,354 | -€2,539 | -28.6% |
| Other operating charges | 640/8 | €8,134 | €8,163 | +€29 | +0.4% |
| Gross operating margin | 9900 | €34,515 | €33,083 | -€1,432 | -4.1% |
| Operating profit (loss) | 9901 | €17,488 | €18,566 | +€1,078 | +6.2% |
| Financial income | 75/76B | €57,485 | €98,507 | +€41,022 | +71.4% |
| Recurring financial income | 75 | €36,561 | €39,147 | +€2,586 | +7.1% |
| Non-recurring financial income | 76B | €20,924 | €59,360 | +€38,436 | +183.7% |
| Financial charges | 65/66B | €1,903 | €1,787 | -€116 | -6.1% |
| Recurring financial charges | 65 | €1,902 | €1,787 | -€115 | -6.0% |
| Non-recurring financial charges | 66B | €1 | - | -€1 | |
| Profit (loss) for the period before taxes | 9903 | €73,070 | €115,286 | +€42,216 | +57.8% |
| Income taxes | 67/77 | €24,695 | €37,873 | +€13,178 | +53.4% |
| Profit (loss) for the period | 9904 | €48,375 | €77,413 | +€29,038 | +60.0% |
| Profit (loss) for the period to be appropriated | 9905 | €48,375 | €77,413 | +€29,038 | +60.0% |
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 8 October 2026 via checked.be.