Tel-Raam: 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.
Tel-Raam
Largest movements
- Cash +€9,714
up €9,714 (+32.8%), from €29,601 to €39,315
mainly Net result for the year (+€10,634) and Other debts (+€3,157)
- Receivables within one year +€2,867
up €2,867 (+27.4%), from €10,457 to €13,324
of which Trade receivables: +€2,796
- Stocks and contracts +€1,160
up €1,160 (+55.0%), from €2,110 to €3,270
- Deferred charges and accrued income +€898
up €898 (+120%), from €750 to €1,647
- Reserves +€8,916
up €8,916 (+40.4%), from €22,061 to €30,977
of which Distributable reserves: +€8,916
- Other debts +€3,157
up €3,157 (+22.4%), from €14,090 to €17,246
- Trade debts +€2,491
up €2,491 (+47.7%), from €5,226 to €7,716
- Accrued charges and deferred income -€1,507
no longer reported in 2025 (was €1,507)
- Tax, wage and social debts +€1,100
up €1,100 (+33.6%), from €3,270 to €4,370
- Gross operating margin +€271
up €271 (+1.7%), from €16,237 to €16,508
- Financial charges -€217
down €217 (-16.9%), from €1,280 to €1,063
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 | €64,754 | €78,910 | +€14,156 | +21.9% |
| Fixed assets | 21/28 | €1,836 | €1,352 | -€483 | -26.3% |
| Tangible fixed assets | 22/27 | €1,191 | €707 | -€483 | -40.6% |
| Plant, machinery and equipment | 23 | €1,191 | €707 | -€483 | -40.6% |
| Financial fixed assets | 28 | €645 | €645 | = | 0.0% |
| Current assets | 29/58 | €62,918 | €77,557 | +€14,639 | +23.3% |
| Stocks and contracts in progress | 3 | €2,110 | €3,270 | +€1,160 | +55.0% |
| Stocks | 30/36 | €2,110 | €3,270 | +€1,160 | +55.0% |
| Amounts receivable within one year | 40/41 | €10,457 | €13,324 | +€2,867 | +27.4% |
| Trade receivables | 40 | €10,457 | €13,254 | +€2,796 | +26.7% |
| Other amounts receivable | 41 | - | €70 | +€70 | |
| Current investments | 50/53 | €20,000 | €20,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €29,601 | €39,315 | +€9,714 | +32.8% |
| Deferred charges and accrued income | 490/1 | €750 | €1,647 | +€898 | +120% |
| Total equity and liabilities | 10/49 | €64,754 | €78,910 | +€14,156 | +21.9% |
| Equity | 10/15 | €40,661 | €49,577 | +€8,916 | +21.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €22,061 | €30,977 | +€8,916 | +40.4% |
| Non-distributable reserves | 130/1 | €1,161 | €1,161 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,161 | €1,161 | = | 0.0% |
| Distributable reserves | 133 | €20,900 | €29,816 | +€8,916 | +42.7% |
| Amounts payable | 17/49 | €24,092 | €29,332 | +€5,240 | +21.7% |
| Amounts payable within one year | 42/48 | €22,585 | €29,332 | +€6,747 | +29.9% |
| Trade debts | 44 | €5,226 | €7,716 | +€2,491 | +47.7% |
| Suppliers | 440/4 | €5,226 | €7,716 | +€2,491 | +47.7% |
| Taxes, remuneration and social security | 45 | €3,270 | €4,370 | +€1,100 | +33.6% |
| Taxes | 450/3 | €3,270 | €4,370 | +€1,100 | +33.6% |
| Other amounts payable | 47/48 | €14,090 | €17,246 | +€3,157 | +22.4% |
| Accrued charges and deferred income | 492/3 | €1,507 | - | -€1,507 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €539 | €483 | -€56 | -10.4% |
| Other operating charges | 640/8 | €597 | €543 | -€54 | -9.0% |
| Gross operating margin | 9900 | €16,237 | €16,508 | +€271 | +1.7% |
| Operating profit (loss) | 9901 | €15,101 | €15,481 | +€380 | +2.5% |
| Financial income | 75/76B | €158 | €263 | +€104 | +66.0% |
| Recurring financial income | 75 | €158 | €263 | +€104 | +66.0% |
| Financial charges | 65/66B | €1,280 | €1,063 | -€217 | -16.9% |
| Recurring financial charges | 65 | €1,280 | €1,063 | -€217 | -16.9% |
| Profit (loss) for the period before taxes | 9903 | €13,979 | €14,680 | +€701 | +5.0% |
| Income taxes | 67/77 | €4,144 | €4,046 | -€98 | -2.4% |
| Profit (loss) for the period | 9904 | €9,835 | €10,634 | +€799 | +8.1% |
| Profit (loss) for the period to be appropriated | 9905 | €9,835 | €10,634 | +€799 | +8.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.