TELESIS: 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.
TELESIS
Largest movements
- Receivables after one year -€216,000
down €216,000 (-100%), from €216,000 to €0
- Cash -€97,262
down €97,262 (-96.7%), from €100,572 to €3,310
mainly Trade debts (-€207,968) and Net result for the year (-€117,066)
- Tangible fixed assets -€85,851
down €85,851 (-7.2%), from €1.2m to €1.1m
of which Land and buildings: -€78,802
- Receivables within one year -€55,637
down €55,637 (-23.3%), from €238,311 to €182,673
of which Other amounts receivable: -€61,410
- Trade debts -€207,968
down €207,968 (-77.9%), from €266,989 to €59,021
- Profit (loss) carried forward -€117,066
down €117,066 (-785%), from -€14,910 to -€131,976
- Debts after one year -€105,516
down €105,516 (-9.5%), from €1.1m to €999,736
- Tax, wage and social debts -€52,604
down €52,604 (-49.8%), from €105,563 to €52,959
- Provisions +€47,400
up €47,400 (+224%), from €21,200 to €68,600
- Financial charges -€561,156
down €561,156 (-96.6%), from €580,694 to €19,539
of which Non-recurring financial charges: -€559,089
- Gross operating margin -€229,726
down €229,726 (-75.4%), from €304,559 to €74,833
- Taxes -€45,147
down €45,147 (-100.0%), from €45,147 to €0
- Provisions +€45,000
up €45,000 (+1,875%), from €2,400 to €47,400
- Write-downs -€5,501
no longer reported in 2025 (was €5,501)
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 | €1,752,367 | €1,304,992 | -€447,375 | -25.5% |
| Fixed assets | 21/28 | €1,192,471 | €1,106,620 | -€85,851 | -7.2% |
| Tangible fixed assets | 22/27 | €1,192,171 | €1,106,320 | -€85,851 | -7.2% |
| Land and buildings | 22 | €1,112,499 | €1,033,697 | -€78,802 | -7.1% |
| Furniture and vehicles | 24 | €79,671 | €72,623 | -€7,048 | -8.8% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €559,896 | €198,373 | -€361,524 | -64.6% |
| Amounts receivable after more than one year | 29 | €216,000 | €0 | -€216,000 | -100% |
| Trade receivables | 290 | €216,000 | €0 | -€216,000 | -100% |
| Amounts receivable within one year | 40/41 | €238,311 | €182,673 | -€55,637 | -23.3% |
| Trade receivables | 40 | €149,707 | €155,480 | +€5,773 | +3.9% |
| Other amounts receivable | 41 | €88,604 | €27,194 | -€61,410 | -69.3% |
| Cash at bank and in hand | 54/58 | €100,572 | €3,310 | -€97,262 | -96.7% |
| Deferred charges and accrued income | 490/1 | €5,013 | €12,389 | +€7,376 | +147% |
| Total equity and liabilities | 10/49 | €1,752,367 | €1,304,992 | -€447,375 | -25.5% |
| Equity | 10/15 | €94,936 | -€22,131 | -€117,066 | |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €47,845 | €47,845 | = | 0.0% |
| Non-distributable reserves | 130/1 | €15,345 | €15,345 | = | 0.0% |
| Legal reserve | 130 | €15,345 | €15,345 | = | 0.0% |
| Tax-exempt reserves | 132 | €32,500 | €32,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,910 | -€131,976 | -€117,066 | -785% |
| Provisions and deferred taxes | 16 | €21,200 | €68,600 | +€47,400 | +224% |
| Provisions for liabilities and charges | 160/5 | €21,200 | €68,600 | +€47,400 | +224% |
| Major repairs and maintenance | 162 | - | €45,000 | +€45,000 | |
| Environmental obligations | 163 | - | €23,600 | +€23,600 | |
| Other liabilities and charges | 164/5 | €21,200 | - | -€21,200 | |
| Amounts payable | 17/49 | €1,636,231 | €1,258,523 | -€377,708 | -23.1% |
| Amounts payable after more than one year | 17 | €1,105,252 | €999,736 | -€105,516 | -9.5% |
| Financial debts | 170/4 | €1,105,252 | €999,736 | -€105,516 | -9.5% |
| Amounts payable within one year | 42/48 | €519,534 | €247,132 | -€272,402 | -52.4% |
| Current portion of amounts payable after more than one year | 42 | €103,864 | €112,914 | +€9,050 | +8.7% |
| Trade debts | 44 | €266,989 | €59,021 | -€207,968 | -77.9% |
| Suppliers | 440/4 | €266,989 | €59,021 | -€207,968 | -77.9% |
| Taxes, remuneration and social security | 45 | €105,563 | €52,959 | -€52,604 | -49.8% |
| Taxes | 450/3 | €105,563 | €52,959 | -€52,604 | -49.8% |
| Other amounts payable | 47/48 | €43,118 | €22,238 | -€20,880 | -48.4% |
| Accrued charges and deferred income | 492/3 | €11,445 | €11,655 | +€210 | +1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €108,998 | €114,236 | +€5,238 | +4.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,501 | - | -€5,501 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €2,400 | €47,400 | +€45,000 | +1,875% |
| Other operating charges | 640/8 | €10,340 | €10,724 | +€384 | +3.7% |
| Non-recurring operating charges | 66A | €2,500 | - | -€2,500 | |
| Gross operating margin | 9900 | €304,559 | €74,833 | -€229,726 | -75.4% |
| Operating profit (loss) | 9901 | €174,819 | -€97,528 | -€272,346 | |
| Financial charges | 65/66B | €580,694 | €19,539 | -€561,156 | -96.6% |
| Recurring financial charges | 65 | €21,606 | €19,539 | -€2,067 | -9.6% |
| Non-recurring financial charges | 66B | €559,089 | - | -€559,089 | |
| Profit (loss) for the period before taxes | 9903 | -€405,876 | -€117,066 | +€288,809 | +71.2% |
| Income taxes | 67/77 | €45,147 | €0 | -€45,147 | -100.0% |
| Profit (loss) for the period | 9904 | -€451,022 | -€117,066 | +€333,956 | +74.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€451,022 | -€117,066 | +€333,956 | +74.0% |
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 16 October 2026 via checked.be.