TECOM: 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.
TECOM
Largest movements
- Receivables within one year -€61,270
down €61,270 (-48.8%), from €125,562 to €64,292
of which Trade receivables: -€61,270
- Cash -€43,700
down €43,700 (-32.6%), from €133,863 to €90,164
mainly Short-term financial debts (-€125,000) and Investment in fixed assets (net) (-€37,816)
- Tangible fixed assets +€15,466
up €15,466 (+47.5%), from €32,559 to €48,024
of which Furniture and vehicles: +€16,247
- Short-term financial debts -€125,000
no longer reported in 2025 (was €125,000)
- Profit (loss) carried forward +€33,892
up €33,892 (+42.6%), from -€79,569 to -€45,676
- Debts after one year +€16,091
up €16,091 (+17.2%), from €93,658 to €109,749
of which Financial debts: +€16,091
- Trade debts -€5,424
down €5,424 (-18.5%), from €29,284 to €23,860
- Tax, wage and social debts -€5,138
down €5,138 (-6.3%), from €81,856 to €76,718
of which Taxes: -€14,472
- Staff costs +€90,871
up €90,871 (+18.7%), from €484,962 to €575,833
- Gross operating margin +€74,126
up €74,126 (+12.9%), from €576,234 to €650,360
- Depreciation -€71,196
down €71,196 (-76.1%), from €93,547 to €22,351
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 | €296,797 | €206,701 | -€90,096 | -30.4% |
| Fixed assets | 21/28 | €32,809 | €48,274 | +€15,466 | +47.1% |
| Tangible fixed assets | 22/27 | €32,559 | €48,024 | +€15,466 | +47.5% |
| Plant, machinery and equipment | 23 | €781 | - | -€781 | |
| Furniture and vehicles | 24 | €31,778 | €48,024 | +€16,247 | +51.1% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €263,988 | €158,427 | -€105,561 | -40.0% |
| Amounts receivable within one year | 40/41 | €125,562 | €64,292 | -€61,270 | -48.8% |
| Trade receivables | 40 | €123,475 | €62,205 | -€61,270 | -49.6% |
| Other amounts receivable | 41 | €2,087 | €2,087 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €133,863 | €90,164 | -€43,700 | -32.6% |
| Deferred charges and accrued income | 490/1 | €4,563 | €3,971 | -€592 | -13.0% |
| Total equity and liabilities | 10/49 | €296,797 | €206,701 | -€90,096 | -30.4% |
| Equity | 10/15 | -€60,969 | -€27,076 | +€33,892 | +55.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€79,569 | -€45,676 | +€33,892 | +42.6% |
| Amounts payable | 17/49 | €357,765 | €233,778 | -€123,988 | -34.7% |
| Amounts payable after more than one year | 17 | €93,658 | €109,749 | +€16,091 | +17.2% |
| Financial debts | 170/4 | €10,603 | €26,695 | +€16,091 | +152% |
| Other amounts payable | 178/9 | €83,055 | €83,055 | = | 0.0% |
| Amounts payable within one year | 42/48 | €264,107 | €124,028 | -€140,079 | -53.0% |
| Current portion of amounts payable after more than one year | 42 | €27,968 | €23,450 | -€4,517 | -16.2% |
| Financial debts | 43 | €125,000 | - | -€125,000 | |
| Credit institutions | 430/8 | €125,000 | - | -€125,000 | |
| Trade debts | 44 | €29,284 | €23,860 | -€5,424 | -18.5% |
| Suppliers | 440/4 | €29,284 | €23,860 | -€5,424 | -18.5% |
| Taxes, remuneration and social security | 45 | €81,856 | €76,718 | -€5,138 | -6.3% |
| Taxes | 450/3 | €26,591 | €12,119 | -€14,472 | -54.4% |
| Remuneration and social security | 454/9 | €55,265 | €64,599 | +€9,334 | +16.9% |
| Non-recurring operating income | 76A | €661 | - | -€661 | |
| Remuneration, social security and pensions | 62 | €484,962 | €575,833 | +€90,871 | +18.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €93,547 | €22,351 | -€71,196 | -76.1% |
| Other operating charges | 640/8 | €6,682 | €3,800 | -€2,881 | -43.1% |
| Non-recurring operating charges | 66A | €172,088 | - | -€172,088 | |
| Gross operating margin | 9900 | €576,234 | €650,360 | +€74,126 | +12.9% |
| Operating profit (loss) | 9901 | -€181,045 | €48,376 | +€229,421 | |
| Financial income | 75/76B | €124 | €1 | -€122 | -98.9% |
| Recurring financial income | 75 | €124 | €1 | -€122 | -98.9% |
| Financial charges | 65/66B | €10,910 | €14,485 | +€3,575 | +32.8% |
| Recurring financial charges | 65 | €10,910 | €14,485 | +€3,575 | +32.8% |
| Profit (loss) for the period before taxes | 9903 | -€191,831 | €33,892 | +€225,724 | |
| Income taxes | 67/77 | €0 | €0 | +€0 | +33.3% |
| Profit (loss) for the period | 9904 | -€191,832 | €33,892 | +€225,724 | |
| Profit (loss) for the period to be appropriated | 9905 | -€191,832 | €33,892 | +€225,724 |
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 27 October 2026 via checked.be.