Telecom-Makelaars: 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.
What changed
Telecom-Makelaars
NACE 61.200, Telecommunications resale and intermediation services
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€399,725
2024 · €323,375+€76,350
Equity
€934,491
2024 · €784,766+€149,725
Cash
€132,456
2024 · €129,894+€2,562
Balance sheet total
€1.6m
2024 · €1.5m+€111,193
Largest movements
Assets
- Receivables within one year +€124,431
up €124,431 (+11.6%), from €1.1m to €1.2m
of which Trade receivables: +€88,199
Equity and liabilities
- Reserves +€149,725
up €149,725 (+19.4%), from €772,366 to €922,091
- Other debts +€100,000
up €100,000 (+66.7%), from €150,000 to €250,000
- Debts after one year -€90,636
down €90,636 (-49.5%), from €183,287 to €92,651
- Trade debts -€67,839
down €67,839 (-42.2%), from €160,855 to €93,016
Income statement
- Staff costs -€143,139
down €143,139 (-20.8%), from €689,056 to €545,917
- Gross operating margin -€42,562
down €42,562 (-3.7%), from €1.1m to €1.1m
- Depreciation +€40,616
up €40,616 (+467.3%), from €8,692 to €49,307
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.
Result 2024
€323,375
Gross operating margin
-€42,562
Staff costs
+€143,139
Depreciation
-€40,616
Other operating charges
+€6,845
Financial income
-€408
Financial charges
+€316
Taxes
+€9,637
Result 2025
€399,725
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.
From operations
+€379,251
Investment
-€44,023
Financing
-€332,666
Cash 2024
€129,894
From operations (derived)
+€379,251
Net result for the year
+€399,725
Depreciation
+€49,307
Receivables after one year
-€848
Receivables within one year
-€124,431
Deferred charges and accrued income
+€11,365
Trade debts
-€67,839
Tax, wage and social debts
+€8,337
Other debts
+€100,000
Accrued charges and deferred income
+€3,635
Investment (derived)
-€44,023
Investment in fixed assets (net)
-€44,023
Financing
-€332,666
Debts after one year
-€90,636
Current portion of long-term debt
+€7,605
Short-term financial debts
+€366
Contributions, distributions and other
-€250,000
Cash 2025
€132,456
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,458,339 | €1,569,532 | +€111,193 | +7.6% |
| Fixed assets | 21/28 | €206,462 | €201,178 | -€5,285 | -2.6% |
| Tangible fixed assets | 22/27 | €204,462 | €189,178 | -€15,285 | -7.5% |
| Plant, machinery and equipment | 23 | €3,022 | €2,711 | -€310 | -10.3% |
| Furniture and vehicles | 24 | €29,060 | €31,572 | +€2,512 | +8.6% |
| Other tangible fixed assets | 26 | €172,381 | €154,895 | -€17,486 | -10.1% |
| Financial fixed assets | 28 | €2,000 | €12,000 | +€10,000 | +500.0% |
| Current assets | 29/58 | €1,251,877 | €1,368,354 | +€116,477 | +9.3% |
| Amounts receivable after more than one year | 29 | €1,331 | €2,179 | +€848 | +63.7% |
| Other amounts receivable | 291 | €1,331 | €2,179 | +€848 | +63.7% |
| Amounts receivable within one year | 40/41 | €1,072,350 | €1,196,781 | +€124,431 | +11.6% |
| Trade receivables | 40 | €1,010,326 | €1,098,525 | +€88,199 | +8.7% |
| Other amounts receivable | 41 | €62,024 | €98,256 | +€36,232 | +58.4% |
| Cash at bank and in hand | 54/58 | €129,894 | €132,456 | +€2,562 | +2.0% |
| Deferred charges and accrued income | 490/1 | €48,302 | €36,937 | -€11,365 | -23.5% |
| Total equity and liabilities | 10/49 | €1,458,339 | €1,569,532 | +€111,193 | +7.6% |
| Equity | 10/15 | €784,766 | €934,491 | +€149,725 | +19.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €772,366 | €922,091 | +€149,725 | +19.4% |
| Distributable reserves | 133 | €772,366 | €922,091 | +€149,725 | +19.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €673,574 | €635,041 | -€38,533 | -5.7% |
| Amounts payable after more than one year | 17 | €183,287 | €92,651 | -€90,636 | -49.5% |
| Financial debts | 170/4 | €183,287 | €92,651 | -€90,636 | -49.5% |
| Amounts payable within one year | 42/48 | €490,286 | €538,755 | +€48,469 | +9.9% |
| Current portion of amounts payable after more than one year | 42 | €36,713 | €44,318 | +€7,605 | +20.7% |
| Financial debts | 43 | €19,829 | €20,194 | +€366 | +1.8% |
| Credit institutions | 430/8 | €19,829 | €20,194 | +€366 | +1.8% |
| Trade debts | 44 | €160,855 | €93,016 | -€67,839 | -42.2% |
| Suppliers | 440/4 | €160,855 | €93,016 | -€67,839 | -42.2% |
| Taxes, remuneration and social security | 45 | €122,890 | €131,227 | +€8,337 | +6.8% |
| Taxes | 450/3 | €26,591 | €42,034 | +€15,443 | +58.1% |
| Remuneration and social security | 454/9 | €96,298 | €89,193 | -€7,105 | -7.4% |
| Other amounts payable | 47/48 | €150,000 | €250,000 | +€100,000 | +66.7% |
| Accrued charges and deferred income | 492/3 | - | €3,635 | +€3,635 | |
| Remuneration, social security and pensions | 62 | €689,056 | €545,917 | -€143,139 | -20.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,692 | €49,307 | +€40,616 | +467.3% |
| Other operating charges | 640/8 | €12,602 | €5,758 | -€6,845 | -54.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €1,136,511 | €1,093,949 | -€42,562 | -3.7% |
| Operating profit (loss) | 9901 | €426,161 | €492,967 | +€66,806 | +15.7% |
| Financial income | 75/76B | €535 | €127 | -€408 | -76.3% |
| Recurring financial income | 75 | €535 | €127 | -€408 | -76.3% |
| Financial charges | 65/66B | €22,002 | €21,686 | -€316 | -1.4% |
| Recurring financial charges | 65 | €22,002 | €21,686 | -€316 | -1.4% |
| Profit (loss) for the period before taxes | 9903 | €404,694 | €471,408 | +€66,714 | +16.5% |
| Income taxes | 67/77 | €81,319 | €71,682 | -€9,637 | -11.9% |
| Profit (loss) for the period | 9904 | €323,375 | €399,725 | +€76,350 | +23.6% |
| Profit (loss) for the period to be appropriated | 9905 | €323,375 | €399,725 | +€76,350 | +23.6% |
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 9 October 2026 via checked.be.