Raditel: 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.
Raditel
Largest movements
- Current investments +€70,181
up €70,181 (+137%), from €51,407 to €121,589
- Cash -€14,266
down €14,266 (-14.2%), from €100,647 to €86,382
mainly Current investments (-€70,181) and Investment in fixed assets (net) (-€35,680)
- Stocks and contracts +€12,568
up €12,568 (+5.4%), from €230,913 to €243,481
- Reserves +€98,682
up €98,682 (+24.1%), from €408,646 to €507,328
of which Distributable reserves: +€98,682
- Current portion of long-term debt -€14,850
down €14,850 (-91.7%), from €16,200 to €1,350
- Gross operating margin +€25,892
up €25,892 (+11.6%), from €223,317 to €249,209
- Taxes +€10,690
up €10,690 (+39.0%), from €27,434 to €38,125
- Staff costs -€7,808
down €7,808 (-7.9%), from €98,240 to €90,432
- Financial income +€5,318
up €5,318 (+57.8%), from €9,198 to €14,516
- Depreciation -€4,840
down €4,840 (-13.9%), from €34,767 to €29,927
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 | €570,878 | €649,149 | +€78,270 | +13.7% |
| Fixed assets | 21/28 | €126,925 | €132,678 | +€5,753 | +4.5% |
| Tangible fixed assets | 22/27 | €126,925 | €132,678 | +€5,753 | +4.5% |
| Land and buildings | 22 | €23,780 | €21,950 | -€1,829 | -7.7% |
| Plant, machinery and equipment | 23 | €3,882 | €14,015 | +€10,133 | +261% |
| Furniture and vehicles | 24 | €82,071 | €85,251 | +€3,180 | +3.9% |
| Other tangible fixed assets | 26 | €17,193 | €11,462 | -€5,731 | -33.3% |
| Current assets | 29/58 | €443,953 | €516,471 | +€72,518 | +16.3% |
| Stocks and contracts in progress | 3 | €230,913 | €243,481 | +€12,568 | +5.4% |
| Stocks | 30/36 | €230,913 | €243,481 | +€12,568 | +5.4% |
| Amounts receivable within one year | 40/41 | €58,482 | €63,231 | +€4,749 | +8.1% |
| Trade receivables | 40 | €22,966 | €19,040 | -€3,926 | -17.1% |
| Other amounts receivable | 41 | €35,516 | €44,191 | +€8,675 | +24.4% |
| Current investments | 50/53 | €51,407 | €121,589 | +€70,181 | +137% |
| Cash at bank and in hand | 54/58 | €100,647 | €86,382 | -€14,266 | -14.2% |
| Deferred charges and accrued income | 490/1 | €2,503 | €1,789 | -€715 | -28.6% |
| Total equity and liabilities | 10/49 | €570,878 | €649,149 | +€78,270 | +13.7% |
| Equity | 10/15 | €476,616 | €575,299 | +€98,682 | +20.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €408,646 | €507,328 | +€98,682 | +24.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,438 | €1,438 | = | 0.0% |
| Distributable reserves | 133 | €405,347 | €504,030 | +€98,682 | +24.3% |
| Profit (loss) carried forward | 14 | €49,371 | €49,371 | = | 0.0% |
| Amounts payable | 17/49 | €94,262 | €73,850 | -€20,412 | -21.7% |
| Amounts payable after more than one year | 17 | €1,350 | - | -€1,350 | |
| Financial debts | 170/4 | €1,350 | - | -€1,350 | |
| Amounts payable within one year | 42/48 | €92,912 | €73,788 | -€19,123 | -20.6% |
| Current portion of amounts payable after more than one year | 42 | €16,200 | €1,350 | -€14,850 | -91.7% |
| Trade debts | 44 | €25,406 | €20,483 | -€4,923 | -19.4% |
| Suppliers | 440/4 | €25,406 | €20,483 | -€4,923 | -19.4% |
| Advances received on contracts in progress | 46 | €17,642 | €12,425 | -€5,216 | -29.6% |
| Taxes, remuneration and social security | 45 | €33,664 | €39,530 | +€5,866 | +17.4% |
| Taxes | 450/3 | €24,573 | €22,198 | -€2,376 | -9.7% |
| Remuneration and social security | 454/9 | €9,091 | €17,333 | +€8,242 | +90.7% |
| Accrued charges and deferred income | 492/3 | - | €62 | +€62 | |
| Remuneration, social security and pensions | 62 | €98,240 | €90,432 | -€7,808 | -7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,767 | €29,927 | -€4,840 | -13.9% |
| Other operating charges | 640/8 | €1,548 | €3,588 | +€2,040 | +132% |
| Gross operating margin | 9900 | €223,317 | €249,209 | +€25,892 | +11.6% |
| Operating profit (loss) | 9901 | €88,762 | €125,262 | +€36,500 | +41.1% |
| Financial income | 75/76B | €9,198 | €14,516 | +€5,318 | +57.8% |
| Recurring financial income | 75 | €9,198 | €14,516 | +€5,318 | +57.8% |
| Financial charges | 65/66B | €3,613 | €2,970 | -€643 | -17.8% |
| Recurring financial charges | 65 | €3,613 | €2,970 | -€643 | -17.8% |
| Profit (loss) for the period before taxes | 9903 | €94,347 | €136,807 | +€42,460 | +45.0% |
| Income taxes | 67/77 | €27,434 | €38,125 | +€10,690 | +39.0% |
| Profit (loss) for the period | 9904 | €66,912 | €98,682 | +€31,770 | +47.5% |
| Profit (loss) for the period to be appropriated | 9905 | €66,912 | €98,682 | +€31,770 | +47.5% |
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 15 October 2026 via checked.be.