TELEMAQUE: 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.
TELEMAQUE
Largest movements
- Cash +€31,765
up €31,765 (+20.4%), from €155,337 to €187,102
mainly Net result for the year (+€54,724) and Receivables within one year (+€22,226)
- Receivables within one year -€22,226
down €22,226 (-32.2%), from €69,032 to €46,806
of which Trade receivables: -€14,771
- Current investments +€16,200
up €16,200 (+405%), from €4,000 to €20,200
- Tangible fixed assets -€9,108
down €9,108 (-5.5%), from €166,285 to €157,177
of which Land and buildings: -€7,534
- Profit (loss) carried forward +€22,724
up €22,724 (+16.4%), from €138,360 to €161,084
- Debts after one year -€11,983
down €11,983 (-17.4%), from €68,708 to €56,725
- Other debts +€11,738
up €11,738 (+15.6%), from €75,383 to €87,121
- Staff costs -€47,397
down €47,397 (-79.2%), from €59,842 to €12,444
- Gross operating margin -€20,073
down €20,073 (-15.6%), from €129,041 to €108,968
- Other operating charges +€11,117
up €11,117 (+102%), from €10,887 to €22,004
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 | €396,714 | €413,375 | +€16,662 | +4.2% |
| Fixed assets | 21/28 | €166,285 | €157,177 | -€9,108 | -5.5% |
| Tangible fixed assets | 22/27 | €166,285 | €157,177 | -€9,108 | -5.5% |
| Land and buildings | 22 | €158,029 | €150,495 | -€7,534 | -4.8% |
| Furniture and vehicles | 24 | €8,256 | €6,682 | -€1,575 | -19.1% |
| Current assets | 29/58 | €230,429 | €256,199 | +€25,770 | +11.2% |
| Amounts receivable within one year | 40/41 | €69,032 | €46,806 | -€22,226 | -32.2% |
| Trade receivables | 40 | €59,238 | €44,467 | -€14,771 | -24.9% |
| Other amounts receivable | 41 | €9,794 | €2,339 | -€7,455 | -76.1% |
| Current investments | 50/53 | €4,000 | €20,200 | +€16,200 | +405% |
| Cash at bank and in hand | 54/58 | €155,337 | €187,102 | +€31,765 | +20.4% |
| Deferred charges and accrued income | 490/1 | €2,060 | €2,091 | +€31 | +1.5% |
| Total equity and liabilities | 10/49 | €396,714 | €413,375 | +€16,662 | +4.2% |
| Equity | 10/15 | €206,531 | €229,255 | +€22,724 | +11.0% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €6,197 | €6,197 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Profit (loss) carried forward | 14 | €138,360 | €161,084 | +€22,724 | +16.4% |
| Amounts payable | 17/49 | €190,183 | €184,121 | -€6,062 | -3.2% |
| Amounts payable after more than one year | 17 | €68,708 | €56,725 | -€11,983 | -17.4% |
| Financial debts | 170/4 | €68,708 | €56,725 | -€11,983 | -17.4% |
| Amounts payable within one year | 42/48 | €121,475 | €127,395 | +€5,921 | +4.9% |
| Current portion of amounts payable after more than one year | 42 | €11,845 | €11,983 | +€138 | +1.2% |
| Trade debts | 44 | €16,802 | €14,772 | -€2,030 | -12.1% |
| Suppliers | 440/4 | €16,802 | €14,772 | -€2,030 | -12.1% |
| Taxes, remuneration and social security | 45 | €17,445 | €13,520 | -€3,925 | -22.5% |
| Taxes | 450/3 | €6,940 | €9,602 | +€2,662 | +38.3% |
| Remuneration and social security | 454/9 | €10,505 | €3,918 | -€6,587 | -62.7% |
| Other amounts payable | 47/48 | €75,383 | €87,121 | +€11,738 | +15.6% |
| Non-recurring operating income | 76A | €1,409 | €0 | -€1,409 | -100% |
| Remuneration, social security and pensions | 62 | €59,842 | €12,444 | -€47,397 | -79.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,496 | €10,079 | -€417 | -4.0% |
| Other operating charges | 640/8 | €10,887 | €22,004 | +€11,117 | +102% |
| Gross operating margin | 9900 | €129,041 | €108,968 | -€20,073 | -15.6% |
| Operating profit (loss) | 9901 | €47,816 | €64,441 | +€16,625 | +34.8% |
| Financial income | 75/76B | €1,351 | €1,401 | +€50 | +3.7% |
| Recurring financial income | 75 | €1,351 | €1,401 | +€50 | +3.7% |
| Financial charges | 65/66B | €1,557 | €1,182 | -€375 | -24.1% |
| Recurring financial charges | 65 | €1,557 | €1,182 | -€375 | -24.1% |
| Profit (loss) for the period before taxes | 9903 | €47,610 | €64,660 | +€17,050 | +35.8% |
| Income taxes | 67/77 | €8,962 | €9,936 | +€974 | +10.9% |
| Profit (loss) for the period | 9904 | €38,648 | €54,724 | +€16,076 | +41.6% |
| Profit (loss) for the period to be appropriated | 9905 | €38,648 | €54,724 | +€16,076 | +41.6% |
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 25 October 2026 via checked.be.