TELESCOPE: what changed
Two fiscal 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.
TELESCOPE
Largest movements
- Cash +€31,155
up €31,155 (+9.8%), from €318,284 to €349,439
mainly Net result for the year (+€280,228) and Tax, wage and social debts (+€27,001)
- Tangible fixed assets -€24,422
down €24,422 (-4.7%), from €522,962 to €498,540
of which Land and buildings: -€23,325
- Other debts -€73,618
down €73,618 (-25.7%), from €286,005 to €212,387
- Reserves +€71,213
up €71,213 (+17.2%), from €414,762 to €485,976
- Debts after one year -€28,721
down €28,721 (-9.9%), from €290,258 to €261,537
- Tax, wage and social debts +€27,001
up €27,001 (+118.7%), from €22,752 to €49,753
- Financial income +€174,392
up €174,392 (+6871.2%), from €2,538 to €176,930
- Gross operating margin +€52,661
up €52,661 (+32.5%), from €162,240 to €214,901
- Taxes +€33,656
up €33,656 (+79.1%), from €42,565 to €76,221
- Other operating charges -€13,715
down €13,715 (-96.9%), from €14,155 to €440
- Depreciation +€6,455
up €6,455 (+35.9%), from €17,967 to €24,422
From the 2025 result to the 2026 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.
Cash bridge derived
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,540,256 | €1,535,156 | -€5,099 | -0.3% |
| Fixed assets | 21/28 | €1,178,386 | €1,153,964 | -€24,422 | -2.1% |
| Tangible fixed assets | 22/27 | €522,962 | €498,540 | -€24,422 | -4.7% |
| Land and buildings | 22 | €519,604 | €496,279 | -€23,325 | -4.5% |
| Furniture and vehicles | 24 | €3,358 | €2,261 | -€1,097 | -32.7% |
| Financial fixed assets | 28 | €655,424 | €655,424 | = | 0.0% |
| Current assets | 29/58 | €361,869 | €381,192 | +€19,323 | +5.3% |
| Amounts receivable within one year | 40/41 | €20,481 | €9,276 | -€11,206 | -54.7% |
| Trade receivables | 40 | €20,481 | €9,276 | -€11,206 | -54.7% |
| Cash at bank and in hand | 54/58 | €318,284 | €349,439 | +€31,155 | +9.8% |
| Deferred charges and accrued income | 490/1 | €23,104 | €22,478 | -€626 | -2.7% |
| Total equity and liabilities | 10/49 | €1,540,256 | €1,535,156 | -€5,099 | -0.3% |
| Equity | 10/15 | €901,156 | €972,370 | +€71,213 | +7.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €414,762 | €485,976 | +€71,213 | +17.2% |
| Distributable reserves | 133 | €414,762 | €485,976 | +€71,213 | +17.2% |
| Profit (loss) carried forward | 14 | €467,794 | €467,794 | = | 0.0% |
| Amounts payable | 17/49 | €639,099 | €562,787 | -€76,313 | -11.9% |
| Amounts payable after more than one year | 17 | €290,258 | €261,537 | -€28,721 | -9.9% |
| Financial debts | 170/4 | €290,258 | €261,537 | -€28,721 | -9.9% |
| Amounts payable within one year | 42/48 | €342,511 | €295,379 | -€47,131 | -13.8% |
| Current portion of amounts payable after more than one year | 42 | €29,781 | €30,257 | +€476 | +1.6% |
| Trade debts | 44 | €3,973 | €2,982 | -€991 | -24.9% |
| Suppliers | 440/4 | €3,973 | €2,982 | -€991 | -24.9% |
| Taxes, remuneration and social security | 45 | €22,752 | €49,753 | +€27,001 | +118.7% |
| Taxes | 450/3 | €22,752 | €49,753 | +€27,001 | +118.7% |
| Other amounts payable | 47/48 | €286,005 | €212,387 | -€73,618 | -25.7% |
| Accrued charges and deferred income | 492/3 | €6,331 | €5,871 | -€460 | -7.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,967 | €24,422 | +€6,455 | +35.9% |
| Other operating charges | 640/8 | €14,155 | €440 | -€13,715 | -96.9% |
| Gross operating margin | 9900 | €162,240 | €214,901 | +€52,661 | +32.5% |
| Operating profit (loss) | 9901 | €130,118 | €190,040 | +€59,921 | +46.1% |
| Financial income | 75/76B | €2,538 | €176,930 | +€174,392 | +6871.2% |
| Recurring financial income | 75 | €2,538 | €176,930 | +€174,392 | +6871.2% |
| Financial charges | 65/66B | €10,370 | €10,520 | +€150 | +1.4% |
| Recurring financial charges | 65 | €10,370 | €10,520 | +€150 | +1.4% |
| Profit (loss) for the period before taxes | 9903 | €122,286 | €356,449 | +€234,163 | +191.5% |
| Income taxes | 67/77 | €42,565 | €76,221 | +€33,656 | +79.1% |
| Profit (loss) for the period | 9904 | €79,721 | €280,228 | +€200,507 | +251.5% |
| Profit (loss) for the period to be appropriated | 9905 | €79,721 | €280,228 | +€200,507 | +251.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2025 and 30 June 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.