TELEVIC RAIL: 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.
What changed
TELEVIC RAIL
NACE 46.500, Wholesale of information and communication equipment
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€4.9m
2024 · €2.2m+€2.7m
Equity
€29.9m
2024 · €25.0m+€4.9m
Cash
€4.7m
2024 · €5.1m-€374,795
Balance sheet total
€71.3m
2024 · €68.4m+€2.9m
Largest movements
Assets
- Receivables within one year +€4.7m
up €4.7m (+40.3%), from €11.7m to €16.5m
of which Trade receivables: +€5.0m
- Receivables after one year -€4.3m
no longer reported in 2025 (was €4.3m)
- Current investments +€1.7m
new in 2025: €1.7m
- Financial fixed assets +€1.3m
up €1.3m (+3.7%), from €34.9m to €36.2m
of which Affiliated companies: +€1.3m
Equity and liabilities
- Profit (loss) carried forward +€3.9m
up €3.9m (+36.5%), from €10.7m to €14.5m
- Short-term financial debts -€3.8m
down €3.8m (-60.0%), from €6.3m to €2.5m
- Trade debts +€2.6m
up €2.6m (+44.6%), from €5.9m to €8.5m
- Debts after one year -€2.6m
down €2.6m (-17.6%), from €14.8m to €12.2m
of which Financial debts: -€3.0m
- Provisions +€1.4m
up €1.4m (+43.4%), from €3.2m to €4.6m
Income statement
- Turnover +€14.9m
up €14.9m (+36.3%), from €41.1m to €56.1m
- Goods and materials +€4.3m
up €4.3m (+21.5%), from €20.1m to €24.4m
of which Purchases: +€4.2m
- Services and other goods +€3.1m
up €3.1m (+29.5%), from €10.6m to €13.8m
- Staff costs +€1.0m
up €1.0m (+9.4%), from €11.1m to €12.1m
- Provisions +€809,920
up €809,920 (+141.4%), from €572,987 to €1.4m
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
€2.2m
Turnover
+€14.9m
Other operating income
-€428,209
Goods and materials
-€4.3m
Services and other goods
-€3.1m
Staff costs
-€1.0m
Depreciation
-€94,347
Provisions
-€809,920
Other operating charges
+€14,260
Other operating items
-€1.9m
Financial income
+€38,184
Financial charges
-€325,316
Taxes
-€286,081
Result 2025
€4.9m
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
+€9.9m
Investment
-€3.9m
Financing
-€6.4m
Cash 2024
€5.1m
From operations (derived)
+€9.9m
Net result for the year
+€4.9m
Depreciation
+€494,230
Receivables after one year
+€4.3m
Stocks and contracts
+€485,856
Receivables within one year
-€4.7m
Deferred charges and accrued income
+€144,470
Provisions
+€1.4m
Trade debts
+€2.6m
Tax, wage and social debts
+€66,142
Advances received
+€267,204
Other debts
+€237,530
Accrued charges and deferred income
-€224,536
Investment (derived)
-€3.9m
Investment in fixed assets (net)
-€2.2m
Current investments
-€1.7m
Financing
-€6.4m
Debts after one year
-€2.6m
Short-term financial debts
-€3.8m
Cash 2025
€4.7m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €68,399,144 | €71,280,504 | +€2.9m | +4.2% |
| Fixed assets | 21/28 | €36,442,218 | €38,151,078 | +€1.7m | +4.7% |
| Tangible fixed assets | 22/27 | €1,503,709 | €1,912,569 | +€408,860 | +27.2% |
| Furniture and vehicles | 24 | €1,503,709 | €1,912,569 | +€408,860 | +27.2% |
| Financial fixed assets | 28 | €34,938,509 | €36,238,509 | +€1.3m | +3.7% |
| Affiliated companies | 280/1 | €34,938,429 | €36,238,429 | +€1.3m | +3.7% |
| Participating interests | 280 | €34,938,429 | €34,938,429 | = | 0.0% |
| Amounts receivable | 281 | - | €1,300,000 | +€1.3m | |
| Other financial fixed assets | 284/8 | €80 | €80 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €80 | €80 | = | 0.0% |
| Current assets | 29/58 | €31,956,926 | €33,129,426 | +€1.2m | +3.7% |
| Amounts receivable after more than one year | 29 | €4,250,000 | - | -€4.3m | |
| Trade receivables | 290 | €4,250,000 | - | -€4.3m | |
| Stocks and contracts in progress | 3 | €10,605,762 | €10,119,906 | -€485,856 | -4.6% |
| Stocks | 30/36 | €7,503,680 | €8,051,049 | +€547,369 | +7.3% |
| Raw materials and consumables | 30/31 | €3,907,285 | €3,878,127 | -€29,158 | -0.7% |
| Work in progress | 32 | €1,705,031 | €2,189,945 | +€484,914 | +28.4% |
| Finished goods | 33 | €1,834,647 | €1,972,036 | +€137,389 | +7.5% |
| Goods purchased for resale | 34 | €56,717 | €10,941 | -€45,776 | -80.7% |
| Contracts in progress | 37 | €3,102,082 | €2,068,858 | -€1.0m | -33.3% |
| Amounts receivable within one year | 40/41 | €11,726,371 | €16,453,760 | +€4.7m | +40.3% |
| Trade receivables | 40 | €11,299,483 | €16,254,108 | +€5.0m | +43.8% |
| Other amounts receivable | 41 | €426,888 | €199,652 | -€227,237 | -53.2% |
| Current investments | 50/53 | - | €1,700,232 | +€1.7m | |
| Other investments | 51/53 | - | €1,700,232 | +€1.7m | |
| Cash at bank and in hand | 54/58 | €5,122,156 | €4,747,361 | -€374,795 | -7.3% |
| Deferred charges and accrued income | 490/1 | €252,637 | €108,167 | -€144,470 | -57.2% |
| Total equity and liabilities | 10/49 | €68,399,144 | €71,280,504 | +€2.9m | +4.2% |
| Equity | 10/15 | €25,020,346 | €29,910,721 | +€4.9m | +19.5% |
| Contributions | 10/11 | €10,550,000 | €10,550,000 | = | 0.0% |
| Capital | 10 | €10,550,000 | €10,550,000 | = | 0.0% |
| Issued capital | 100 | €10,550,000 | €10,550,000 | = | 0.0% |
| Reserves | 13 | €3,817,414 | €4,817,414 | +€1.0m | +26.2% |
| Non-distributable reserves | 130/1 | €1,055,000 | €1,055,000 | = | 0.0% |
| Legal reserve | 130 | €1,055,000 | €1,055,000 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €1,000,000 | +€1.0m | |
| Distributable reserves | 133 | €2,762,414 | €2,762,414 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,652,932 | €14,543,307 | +€3.9m | +36.5% |
| Provisions and deferred taxes | 16 | €3,184,785 | €4,567,692 | +€1.4m | +43.4% |
| Provisions for liabilities and charges | 160/5 | €3,184,785 | €4,567,692 | +€1.4m | +43.4% |
| Other liabilities and charges | 164/5 | €3,184,785 | €4,567,692 | +€1.4m | +43.4% |
| Amounts payable | 17/49 | €40,194,013 | €36,802,091 | -€3.4m | -8.4% |
| Amounts payable after more than one year | 17 | €14,800,000 | €12,200,000 | -€2.6m | -17.6% |
| Financial debts | 170/4 | €4,500,000 | €1,500,000 | -€3.0m | -66.7% |
| Credit institutions | 173 | €4,500,000 | €1,500,000 | -€3.0m | -66.7% |
| Other amounts payable | 178/9 | €10,300,000 | €10,700,000 | +€400,000 | +3.9% |
| Amounts payable within one year | 42/48 | €24,684,700 | €24,117,314 | -€567,386 | -2.3% |
| Current portion of amounts payable after more than one year | 42 | €3,000,000 | €3,000,000 | = | 0.0% |
| Financial debts | 43 | €6,250,000 | €2,500,000 | -€3.8m | -60.0% |
| Credit institutions | 430/8 | €6,250,000 | €2,500,000 | -€3.8m | -60.0% |
| Trade debts | 44 | €5,861,516 | €8,473,254 | +€2.6m | +44.6% |
| Suppliers | 440/4 | €5,861,516 | €8,473,254 | +€2.6m | +44.6% |
| Advances received on contracts in progress | 46 | €7,245,065 | €7,512,269 | +€267,204 | +3.7% |
| Taxes, remuneration and social security | 45 | €2,328,119 | €2,394,261 | +€66,142 | +2.8% |
| Taxes | 450/3 | €246,359 | €213,354 | -€33,006 | -13.4% |
| Remuneration and social security | 454/9 | €2,081,759 | €2,180,907 | +€99,148 | +4.8% |
| Other amounts payable | 47/48 | - | €237,530 | +€237,530 | |
| Accrued charges and deferred income | 492/3 | €709,313 | €484,777 | -€224,536 | -31.7% |
| Operating income | 70/76A | €45,645,404 | €58,296,070 | +€12.7m | +27.7% |
| Turnover | 70 | €41,142,329 | €56,077,704 | +€14.9m | +36.3% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€113,098 | -€1,172,503 | -€1.1m | -936.7% |
| Other operating income | 74 | €3,819,078 | €3,390,868 | -€428,209 | -11.2% |
| Non-recurring operating income | 76A | €797,095 | - | -€797,095 | |
| Operating charges | 60/66A | €42,900,398 | €52,307,442 | +€9.4m | +21.9% |
| Goods for resale, raw materials and consumables | 60 | €20,119,077 | €24,449,820 | +€4.3m | +21.5% |
| Purchases | 600/8 | €20,175,135 | €24,350,808 | +€4.2m | +20.7% |
| Change in stocks: decrease (increase) | 609 | -€56,058 | €99,013 | +€155,071 | |
| Services and other goods | 61 | €10,638,513 | €13,777,016 | +€3.1m | +29.5% |
| Remuneration, social security and pensions | 62 | €11,091,582 | €12,139,371 | +€1.0m | +9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €399,883 | €494,230 | +€94,347 | +23.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €572,987 | €1,382,907 | +€809,920 | +141.4% |
| Other operating charges | 640/8 | €78,358 | €64,098 | -€14,260 | -18.2% |
| Operating profit (loss) | 9901 | €2,745,005 | €5,988,628 | +€3.2m | +118.2% |
| Financial income | 75/76B | €521,662 | €559,846 | +€38,184 | +7.3% |
| Recurring financial income | 75 | €521,662 | €559,846 | +€38,184 | +7.3% |
| Income from current assets | 751 | €252,637 | €120,711 | -€131,926 | -52.2% |
| Other financial income | 752/9 | €269,025 | €439,136 | +€170,110 | +63.2% |
| Financial charges | 65/66B | €1,055,254 | €1,380,570 | +€325,316 | +30.8% |
| Recurring financial charges | 65 | €1,055,254 | €1,380,570 | +€325,316 | +30.8% |
| Debt charges | 650 | €1,022,259 | €652,157 | -€370,102 | -36.2% |
| Other financial charges | 652/9 | €32,994 | €728,412 | +€695,418 | +2107.7% |
| Profit (loss) for the period before taxes | 9903 | €2,211,414 | €5,167,905 | +€3.0m | +133.7% |
| Income taxes | 67/77 | -€8,551 | €277,530 | +€286,081 | |
| Taxes | 670/3 | €17,703 | €277,530 | +€259,827 | +1467.7% |
| Tax adjustments and reversals of tax provisions | 77 | €26,254 | - | -€26,254 | |
| Profit (loss) for the period | 9904 | €2,219,965 | €4,890,375 | +€2.7m | +120.3% |
| Transfer from tax-exempt reserves | 789 | €378,900 | - | -€378,900 | |
| Transfer to tax-exempt reserves | 689 | - | €1,000,000 | +€1.0m | |
| Profit (loss) for the period to be appropriated | 9905 | €2,598,865 | €3,890,375 | +€1.3m | +49.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.