TELAKEL: 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.
TELAKEL
Largest movements
- Receivables within one year -€24,379
down €24,379 (-64.4%), from €37,870 to €13,491
of which Trade receivables: -€25,516
- Tangible fixed assets +€22,538
up €22,538 (+274%), from €8,211 to €30,749
of which Leasing and similar rights: +€17,583
- Cash +€21,647
up €21,647 (+112%), from €19,413 to €41,061
mainly Receivables within one year (+€24,379) and Debts after one year (+€15,000)
- Debts after one year +€15,000
new in 2025: €15,000
- Contributions -€12,400
no longer reported in 2025 (was €12,400)
- Trade debts +€7,186
up €7,186 (+64.5%), from €11,141 to €18,326
- Profit (loss) carried forward +€3,474
up €3,474 (+32.3%), from €10,748 to €14,223
- Other debts +€3,474
up €3,474 (+16.2%), from €21,399 to €24,873
- Gross operating margin +€5,484
up €5,484 (+551%), from €995 to €6,479
- Taxes -€623
down €623 (-35.0%), from €1,781 to €1,158
- Depreciation +€328
up €328 (+25.8%), from €1,268 to €1,595
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 | €66,633 | €86,439 | +€19,806 | +29.7% |
| Fixed assets | 21/28 | €8,211 | €30,749 | +€22,538 | +274% |
| Tangible fixed assets | 22/27 | €8,211 | €30,749 | +€22,538 | +274% |
| Plant, machinery and equipment | 23 | €2,551 | €1,990 | -€560 | -22.0% |
| Furniture and vehicles | 24 | €5,660 | €11,175 | +€5,515 | +97.4% |
| Leasing and similar rights | 25 | - | €17,583 | +€17,583 | |
| Current assets | 29/58 | €58,422 | €55,690 | -€2,732 | -4.7% |
| Amounts receivable within one year | 40/41 | €37,870 | €13,491 | -€24,379 | -64.4% |
| Trade receivables | 40 | €37,870 | €12,354 | -€25,516 | -67.4% |
| Other amounts receivable | 41 | - | €1,137 | +€1,137 | |
| Cash at bank and in hand | 54/58 | €19,413 | €41,061 | +€21,647 | +112% |
| Deferred charges and accrued income | 490/1 | €1,139 | €1,139 | = | 0.0% |
| Total equity and liabilities | 10/49 | €66,633 | €86,439 | +€19,806 | +29.7% |
| Equity | 10/15 | €23,197 | €14,272 | -€8,926 | -38.5% |
| Contributions | 10/11 | €12,400 | - | -€12,400 | |
| Capital | 10 | €12,400 | - | -€12,400 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Uncalled capital | 101 | €6,200 | - | -€6,200 | |
| Reserves | 13 | €49 | €49 | = | 0.0% |
| Non-distributable reserves | 130/1 | €49 | €49 | = | 0.0% |
| Legal reserve | 130 | €49 | €49 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,748 | €14,223 | +€3,474 | +32.3% |
| Amounts payable | 17/49 | €43,436 | €72,167 | +€28,731 | +66.1% |
| Amounts payable after more than one year | 17 | - | €15,000 | +€15,000 | |
| Financial debts | 170/4 | - | €15,000 | +€15,000 | |
| Amounts payable within one year | 42/48 | €43,436 | €57,167 | +€13,731 | +31.6% |
| Trade debts | 44 | €11,141 | €18,326 | +€7,186 | +64.5% |
| Suppliers | 440/4 | €11,141 | €18,326 | +€7,186 | +64.5% |
| Taxes, remuneration and social security | 45 | €10,896 | €13,968 | +€3,072 | +28.2% |
| Taxes | 450/3 | €10,896 | €1,158 | -€9,738 | -89.4% |
| Remuneration and social security | 454/9 | - | €12,810 | +€12,810 | |
| Other amounts payable | 47/48 | €21,399 | €24,873 | +€3,474 | +16.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,268 | €1,595 | +€328 | +25.8% |
| Gross operating margin | 9900 | €995 | €6,479 | +€5,484 | +551% |
| Operating profit (loss) | 9901 | -€273 | €4,883 | +€5,156 | |
| Financial charges | 65/66B | €223 | €251 | +€28 | +12.5% |
| Recurring financial charges | 65 | €223 | €251 | +€28 | +12.5% |
| Profit (loss) for the period before taxes | 9903 | -€496 | €4,632 | +€5,128 | |
| Income taxes | 67/77 | €1,781 | €1,158 | -€623 | -35.0% |
| Profit (loss) for the period | 9904 | -€2,276 | €3,474 | +€5,751 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,276 | €3,474 | +€5,751 |
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 26 October 2026 via checked.be.