S. Telecom: 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.
S. Telecom
Largest movements
- Cash -€47,548
no longer reported in 2025 (was €47,548)
mainly Tax, wage and social debts (-€37,925) and Trade debts (-€28,287)
- Tangible fixed assets -€15,023
down €15,023 (-45.6%), from €32,964 to €17,940
of which Furniture and vehicles: -€13,178
- Receivables within one year -€13,159
down €13,159 (-10.2%), from €128,404 to €115,245
of which Trade receivables: -€13,827
- Current investments +€2,663
new in 2025: €2,663
- Tax, wage and social debts -€37,925
down €37,925 (-88.1%), from €43,043 to €5,118
of which Taxes: -€29,976
- Profit (loss) carried forward -€29,888
down €29,888 (-29.1%), from €102,851 to €72,962
- Trade debts -€28,287
down €28,287 (-46.2%), from €61,164 to €32,878
- Contributions +€22,000
up €22,000 (+733%), from €3,000 to €25,000
- Gross operating margin -€69,244
down €69,244 (-89.8%), from €77,125 to €7,880
- Staff costs -€43,825
down €43,825 (-95.0%), from €46,143 to €2,318
- Taxes -€5,776
down €5,776, from €5,094 to -€682
- Financial income +€1,229
up €1,229 (+136,598%), from €1 to €1,230
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 | €210,057 | €135,958 | -€74,100 | -35.3% |
| Fixed assets | 21/28 | €32,964 | €17,940 | -€15,023 | -45.6% |
| Tangible fixed assets | 22/27 | €32,964 | €17,940 | -€15,023 | -45.6% |
| Plant, machinery and equipment | 23 | €5,468 | €3,622 | -€1,846 | -33.8% |
| Furniture and vehicles | 24 | €27,496 | €14,318 | -€13,178 | -47.9% |
| Current assets | 29/58 | €177,094 | €118,018 | -€59,076 | -33.4% |
| Amounts receivable within one year | 40/41 | €128,404 | €115,245 | -€13,159 | -10.2% |
| Trade receivables | 40 | €104,499 | €90,672 | -€13,827 | -13.2% |
| Other amounts receivable | 41 | €23,905 | €24,572 | +€667 | +2.8% |
| Current investments | 50/53 | - | €2,663 | +€2,663 | |
| Cash at bank and in hand | 54/58 | €47,548 | - | -€47,548 | |
| Deferred charges and accrued income | 490/1 | €1,142 | €110 | -€1,032 | -90.4% |
| Total equity and liabilities | 10/49 | €210,057 | €135,958 | -€74,100 | -35.3% |
| Equity | 10/15 | €105,851 | €97,962 | -€7,888 | -7.5% |
| Contributions | 10/11 | €3,000 | €25,000 | +€22,000 | +733% |
| Profit (loss) carried forward | 14 | €102,851 | €72,962 | -€29,888 | -29.1% |
| Amounts payable | 17/49 | €104,207 | €37,996 | -€66,211 | -63.5% |
| Amounts payable within one year | 42/48 | €104,207 | €37,996 | -€66,211 | -63.5% |
| Trade debts | 44 | €61,164 | €32,878 | -€28,287 | -46.2% |
| Suppliers | 440/4 | €61,164 | €32,878 | -€28,287 | -46.2% |
| Taxes, remuneration and social security | 45 | €43,043 | €5,118 | -€37,925 | -88.1% |
| Taxes | 450/3 | €35,094 | €5,118 | -€29,976 | -85.4% |
| Remuneration and social security | 454/9 | €7,948 | - | -€7,948 | |
| Remuneration, social security and pensions | 62 | €46,143 | €2,318 | -€43,825 | -95.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,750 | €9,284 | +€534 | +6.1% |
| Other operating charges | 640/8 | €1,297 | €1,259 | -€38 | -2.9% |
| Non-recurring operating charges | 66A | - | €4,690 | +€4,690 | |
| Gross operating margin | 9900 | €77,125 | €7,880 | -€69,244 | -89.8% |
| Operating profit (loss) | 9901 | €20,936 | -€9,671 | -€30,606 | |
| Financial income | 75/76B | €1 | €1,230 | +€1,229 | +136,598% |
| Recurring financial income | 75 | €1 | €1,230 | +€1,229 | +136,598% |
| Financial charges | 65/66B | €176 | €130 | -€46 | -26.2% |
| Recurring financial charges | 65 | €176 | €130 | -€46 | -26.2% |
| Profit (loss) for the period before taxes | 9903 | €20,760 | -€8,570 | -€29,331 | |
| Income taxes | 67/77 | €5,094 | -€682 | -€5,776 | |
| Profit (loss) for the period | 9904 | €15,666 | -€7,888 | -€23,555 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,666 | -€7,888 | -€23,555 |
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 14 October 2026 via checked.be.