SR 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.
SR TELECOM
Largest movements
- Receivables within one year -€141,858
down €141,858 (-30.8%), from €461,016 to €319,158
of which Other amounts receivable: -€177,267
- Cash -€5,663
down €5,663 (-20.2%), from €28,084 to €22,421
mainly Net result for the year (-€188,797) and Tax, wage and social debts (-€35,183)
- Profit (loss) carried forward -€188,797
down €188,797, from €125,726 to -€63,071
- Trade debts +€55,060
up €55,060 (+64.7%), from €85,067 to €140,127
- Tax, wage and social debts -€35,183
down €35,183 (-22.1%), from €159,249 to €124,066
of which Remuneration and social security: -€20,099
- Current portion of long-term debt +€12,059
up €12,059 (+94.5%), from €12,758 to €24,817
- Gross operating margin -€232,265
down €232,265 (-34.6%), from €671,657 to €439,392
- Taxes -€17,945
down €17,945 (-97.7%), from €18,376 to €431
- Staff costs +€16,666
up €16,666 (+2.9%), from €582,757 to €599,422
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 | €523,046 | €372,532 | -€150,514 | -28.8% |
| Fixed assets | 21/28 | €33,482 | €30,953 | -€2,529 | -7.6% |
| Tangible fixed assets | 22/27 | €33,482 | €30,953 | -€2,529 | -7.6% |
| Furniture and vehicles | 24 | €33,482 | €30,953 | -€2,529 | -7.6% |
| Current assets | 29/58 | €489,564 | €341,579 | -€147,985 | -30.2% |
| Amounts receivable within one year | 40/41 | €461,016 | €319,158 | -€141,858 | -30.8% |
| Trade receivables | 40 | €276,123 | €311,531 | +€35,408 | +12.8% |
| Other amounts receivable | 41 | €184,894 | €7,627 | -€177,267 | -95.9% |
| Cash at bank and in hand | 54/58 | €28,084 | €22,421 | -€5,663 | -20.2% |
| Deferred charges and accrued income | 490/1 | €464 | €0 | -€464 | -100.0% |
| Total equity and liabilities | 10/49 | €523,046 | €372,532 | -€150,514 | -28.8% |
| Equity | 10/15 | €222,846 | €34,049 | -€188,797 | -84.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €78,520 | €78,520 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €76,660 | €76,660 | = | 0.0% |
| Profit (loss) carried forward | 14 | €125,726 | -€63,071 | -€188,797 | |
| Amounts payable | 17/49 | €300,200 | €338,483 | +€38,283 | +12.8% |
| Amounts payable after more than one year | 17 | €3,126 | €7,666 | +€4,541 | +145.3% |
| Financial debts | 170/4 | €3,126 | €7,666 | +€4,541 | +145.3% |
| Amounts payable within one year | 42/48 | €297,074 | €330,817 | +€33,743 | +11.4% |
| Current portion of amounts payable after more than one year | 42 | €12,758 | €24,817 | +€12,059 | +94.5% |
| Financial debts | 43 | €40,000 | €40,000 | = | 0.0% |
| Credit institutions | 430/8 | €40,000 | €40,000 | = | 0.0% |
| Trade debts | 44 | €85,067 | €140,127 | +€55,060 | +64.7% |
| Suppliers | 440/4 | €85,067 | €140,127 | +€55,060 | +64.7% |
| Taxes, remuneration and social security | 45 | €159,249 | €124,066 | -€35,183 | -22.1% |
| Taxes | 450/3 | €32,241 | €17,157 | -€15,084 | -46.8% |
| Remuneration and social security | 454/9 | €127,008 | €106,909 | -€20,099 | -15.8% |
| Other amounts payable | 47/48 | - | €1,807 | +€1,807 | |
| Non-recurring operating income | 76A | €16,010 | €0 | -€16,010 | -100.0% |
| Remuneration, social security and pensions | 62 | €582,757 | €599,422 | +€16,666 | +2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,386 | €13,197 | -€1,189 | -8.3% |
| Other operating charges | 640/8 | €4,269 | €5,801 | +€1,532 | +35.9% |
| Non-recurring operating charges | 66A | - | €4,667 | +€4,667 | |
| Gross operating margin | 9900 | €671,657 | €439,392 | -€232,265 | -34.6% |
| Operating profit (loss) | 9901 | €70,246 | -€183,695 | -€253,941 | |
| Financial income | 75/76B | €54 | €63 | +€9 | +16.7% |
| Recurring financial income | 75 | €54 | €63 | +€9 | +16.7% |
| Financial charges | 65/66B | €2,472 | €4,734 | +€2,262 | +91.5% |
| Recurring financial charges | 65 | €2,472 | €4,734 | +€2,262 | +91.5% |
| Profit (loss) for the period before taxes | 9903 | €67,828 | -€188,366 | -€256,194 | |
| Income taxes | 67/77 | €18,376 | €431 | -€17,945 | -97.7% |
| Profit (loss) for the period | 9904 | €49,452 | -€188,797 | -€238,249 | |
| Profit (loss) for the period to be appropriated | 9905 | €49,452 | -€188,797 | -€238,249 |
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 4 October 2026 via checked.be.