SD1 - TELECOM: 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.
SD1 - TELECOM
Largest movements
- Receivables within one year +€282,433
up €282,433 (+222.0%), from €127,202 to €409,635
of which Trade receivables: +€261,344
- Tangible fixed assets +€89,088
up €89,088 (+217.9%), from €40,888 to €129,976
of which Furniture and vehicles: +€111,499
- Deferred charges and accrued income +€60,096
up €60,096 (+7349.5%), from €818 to €60,913
- Financial fixed assets +€25,000
new in 2025: €25,000
- Intangible fixed assets +€19,538
up €19,538 (+1254.9%), from €1,557 to €21,095
- Trade debts +€396,030
up €396,030 (+580.9%), from €68,175 to €464,205
- Other debts +€75,000
new in 2025: €75,000
- Profit (loss) carried forward -€62,027
down €62,027 (-67.6%), from €91,768 to €29,740
- Short-term financial debts +€31,485
up €31,485 (+630.2%), from €4,996 to €36,482
- Tax, wage and social debts +€14,112
up €14,112 (+46.1%), from €30,589 to €44,700
of which Taxes: +€15,799
- Gross operating margin -€94,558
down €94,558 (-42.6%), from €221,720 to €127,162
- Taxes -€12,769
down €12,769 (-44.4%), from €28,735 to €15,966
- Depreciation -€10,631
down €10,631 (-19.8%), from €53,717 to €43,086
- Other operating charges +€10,473
up €10,473 (+2357.9%), from €444 to €10,917
- Staff costs +€4,059
up €4,059 (+11.6%), from €35,091 to €39,151
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 | €214,971 | €677,444 | +€462,473 | +215.1% |
| Fixed assets | 21/28 | €42,445 | €176,071 | +€133,626 | +314.8% |
| Intangible fixed assets | 21 | €1,557 | €21,095 | +€19,538 | +1254.9% |
| Tangible fixed assets | 22/27 | €40,888 | €129,976 | +€89,088 | +217.9% |
| Plant, machinery and equipment | 23 | €18,126 | €3,515 | -€14,612 | -80.6% |
| Furniture and vehicles | 24 | €14,099 | €125,598 | +€111,499 | +790.8% |
| Leasing and similar rights | 25 | €8,663 | €863 | -€7,800 | -90.0% |
| Financial fixed assets | 28 | - | €25,000 | +€25,000 | |
| Current assets | 29/58 | €172,526 | €501,373 | +€328,847 | +190.6% |
| Amounts receivable after more than one year | 29 | €30,059 | €30,824 | +€765 | +2.5% |
| Other amounts receivable | 291 | €30,059 | €30,824 | +€765 | +2.5% |
| Amounts receivable within one year | 40/41 | €127,202 | €409,635 | +€282,433 | +222.0% |
| Trade receivables | 40 | €52,978 | €314,322 | +€261,344 | +493.3% |
| Other amounts receivable | 41 | €74,224 | €95,314 | +€21,090 | +28.4% |
| Cash at bank and in hand | 54/58 | €14,447 | - | -€14,447 | |
| Deferred charges and accrued income | 490/1 | €818 | €60,913 | +€60,096 | +7349.5% |
| Total equity and liabilities | 10/49 | €214,971 | €677,444 | +€462,473 | +215.1% |
| Equity | 10/15 | €94,768 | €32,740 | -€62,027 | -65.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €91,768 | €29,740 | -€62,027 | -67.6% |
| Amounts payable | 17/49 | €120,203 | €644,704 | +€524,501 | +436.3% |
| Amounts payable after more than one year | 17 | €2,741 | €13,303 | +€10,562 | +385.3% |
| Financial debts | 170/4 | €2,741 | €13,303 | +€10,562 | +385.3% |
| Amounts payable within one year | 42/48 | €117,075 | €631,002 | +€513,927 | +439.0% |
| Current portion of amounts payable after more than one year | 42 | €13,315 | €10,615 | -€2,700 | -20.3% |
| Financial debts | 43 | €4,996 | €36,482 | +€31,485 | +630.2% |
| Credit institutions | 430/8 | €4,996 | €36,482 | +€31,485 | +630.2% |
| Trade debts | 44 | €68,175 | €464,205 | +€396,030 | +580.9% |
| Suppliers | 440/4 | €68,175 | €464,205 | +€396,030 | +580.9% |
| Taxes, remuneration and social security | 45 | €30,589 | €44,700 | +€14,112 | +46.1% |
| Taxes | 450/3 | €28,901 | €44,700 | +€15,799 | +54.7% |
| Remuneration and social security | 454/9 | €1,687 | - | -€1,687 | |
| Other amounts payable | 47/48 | - | €75,000 | +€75,000 | |
| Accrued charges and deferred income | 492/3 | €387 | €400 | +€12 | +3.2% |
| Remuneration, social security and pensions | 62 | €35,091 | €39,151 | +€4,059 | +11.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,717 | €43,086 | -€10,631 | -19.8% |
| Other operating charges | 640/8 | €444 | €10,917 | +€10,473 | +2357.9% |
| Gross operating margin | 9900 | €221,720 | €127,162 | -€94,558 | -42.6% |
| Operating profit (loss) | 9901 | €132,468 | €34,008 | -€98,460 | -74.3% |
| Financial income | 75/76B | €1,583 | €2,534 | +€951 | +60.1% |
| Recurring financial income | 75 | €1,583 | €2,534 | +€951 | +60.1% |
| Financial charges | 65/66B | €4,547 | €7,604 | +€3,057 | +67.2% |
| Recurring financial charges | 65 | €4,547 | €7,604 | +€3,057 | +67.2% |
| Profit (loss) for the period before taxes | 9903 | €129,504 | €28,938 | -€100,565 | -77.7% |
| Income taxes | 67/77 | €28,735 | €15,966 | -€12,769 | -44.4% |
| Profit (loss) for the period | 9904 | €100,769 | €12,973 | -€87,796 | -87.1% |
| Profit (loss) for the period to be appropriated | 9905 | €100,769 | €12,973 | -€87,796 | -87.1% |
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.