TELIM: 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
TELIM
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€290,905
2024 · -€35,052+€325,957
Equity
€2.2m
2024 · €2.3m-€117,953
Cash
€207,600
2024 · €256,753-€49,153
Balance sheet total
€13.7m
2024 · €14.3m-€518,848
Largest movements
Assets
- Tangible fixed assets -€789,885
down €789,885 (-5.9%), from €13.5m to €12.7m
- Deferred charges and accrued income +€388,849
up €388,849 (+383%), from €101,651 to €490,500
Equity and liabilities
- Debts after one year -€727,044
down €727,044 (-7.2%), from €10.1m to €9.4m
- Other debts +€325,958
up €325,958 (+393%), from €82,900 to €408,858
Income statement
- Gross operating margin +€306,323
up €306,323 (+18.6%), from €1.6m to €2.0m
- Financial charges -€165,263
down €165,263 (-23.3%), from €710,166 to €544,904
- Taxes +€115,367
up €115,367 (+416%), from €27,751 to €143,118
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
-€35,052
Gross operating margin
+€306,323
Depreciation
-€6,664
Other operating charges
-€4,347
Financial income
-€19,251
Financial charges
+€165,263
Taxes
-€115,367
Result 2025
€290,905
raises the resultlowers the result
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.
From operations
+€1.1m
Investment
+€22,821
Financing
-€1.2m
Cash 2024
€256,753
From operations (derived)
+€1.1m
Net result for the year
+€290,905
Depreciation
+€767,064
Receivables within one year
+€68,659
Deferred charges and accrued income
-€388,849
Provisions
-€39,318
Trade debts
+€22,006
Tax, wage and social debts
+€96,806
Advances received
+€66,193
Other debts
+€325,958
Accrued charges and deferred income
-€62,163
Investment (derived)
+€22,821
Investment in fixed assets (net)
+€22,821
Financing
-€1.2m
Debts after one year
-€727,044
Current portion of long-term debt
-€83,333
Contributions, distributions and other
-€408,858
Cash 2025
€207,600
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €14,255,606 | €13,736,758 | -€518,848 | -3.6% |
| Fixed assets | 21/28 | €13,466,007 | €12,676,123 | -€789,885 | -5.9% |
| Tangible fixed assets | 22/27 | €13,466,007 | €12,676,123 | -€789,885 | -5.9% |
| Land and buildings | 22 | €13,466,007 | €12,676,123 | -€789,885 | -5.9% |
| Current assets | 29/58 | €789,599 | €1,060,636 | +€271,037 | +34.3% |
| Amounts receivable within one year | 40/41 | €431,195 | €362,535 | -€68,659 | -15.9% |
| Trade receivables | 40 | €224,649 | €227,275 | +€2,626 | +1.2% |
| Other amounts receivable | 41 | €206,546 | €135,260 | -€71,285 | -34.5% |
| Cash at bank and in hand | 54/58 | €256,753 | €207,600 | -€49,153 | -19.1% |
| Deferred charges and accrued income | 490/1 | €101,651 | €490,500 | +€388,849 | +383% |
| Total equity and liabilities | 10/49 | €14,255,606 | €13,736,758 | -€518,848 | -3.6% |
| Equity | 10/15 | €2,286,952 | €2,168,999 | -€117,953 | -5.2% |
| Contributions | 10/11 | €413,486 | €413,486 | = | 0.0% |
| Capital | 10 | €413,486 | €413,486 | = | 0.0% |
| Issued capital | 100 | €413,486 | €413,486 | = | 0.0% |
| Reserves | 13 | €1,586,801 | €1,468,848 | -€117,953 | -7.4% |
| Non-distributable reserves | 130/1 | €41,349 | €41,349 | = | 0.0% |
| Legal reserve | 130 | €41,349 | €41,349 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,545,452 | €1,427,499 | -€117,953 | -7.6% |
| Profit (loss) carried forward | 14 | €286,664 | €286,664 | +€0 | 0.0% |
| Provisions and deferred taxes | 16 | €515,151 | €475,833 | -€39,318 | -7.6% |
| Deferred taxes | 168 | €515,151 | €475,833 | -€39,318 | -7.6% |
| Amounts payable | 17/49 | €11,453,504 | €11,091,927 | -€361,577 | -3.2% |
| Amounts payable after more than one year | 17 | €10,127,129 | €9,400,085 | -€727,044 | -7.2% |
| Financial debts | 170/4 | €10,127,129 | €9,400,085 | -€727,044 | -7.2% |
| Amounts payable within one year | 42/48 | €1,133,442 | €1,561,072 | +€427,630 | +37.7% |
| Current portion of amounts payable after more than one year | 42 | €810,377 | €727,044 | -€83,333 | -10.3% |
| Trade debts | 44 | €227,198 | €249,204 | +€22,006 | +9.7% |
| Suppliers | 440/4 | €227,198 | €249,204 | +€22,006 | +9.7% |
| Advances received on contracts in progress | 46 | €0 | €66,193 | +€66,193 | |
| Taxes, remuneration and social security | 45 | €12,967 | €109,773 | +€96,806 | +747% |
| Taxes | 450/3 | €12,967 | €109,773 | +€96,806 | +747% |
| Other amounts payable | 47/48 | €82,900 | €408,858 | +€325,958 | +393% |
| Accrued charges and deferred income | 492/3 | €192,933 | €130,770 | -€62,163 | -32.2% |
| Non-recurring operating income | 76A | - | €93,550 | +€93,550 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €760,400 | €767,064 | +€6,664 | +0.9% |
| Other operating charges | 640/8 | €150,040 | €154,387 | +€4,347 | +2.9% |
| Non-recurring operating charges | 66A | €100,000 | €100,000 | = | 0.0% |
| Gross operating margin | 9900 | €1,647,181 | €1,953,504 | +€306,323 | +18.6% |
| Operating profit (loss) | 9901 | €636,741 | €932,053 | +€295,312 | +46.4% |
| Financial income | 75/76B | €26,806 | €7,556 | -€19,251 | -71.8% |
| Recurring financial income | 75 | €26,806 | €7,556 | -€19,251 | -71.8% |
| Financial charges | 65/66B | €710,166 | €544,904 | -€165,263 | -23.3% |
| Recurring financial charges | 65 | €710,166 | €544,904 | -€165,263 | -23.3% |
| Profit (loss) for the period before taxes | 9903 | -€46,619 | €394,705 | +€441,324 | |
| Transfer from deferred taxes | 780 | €39,318 | €39,318 | -€0 | 0.0% |
| Income taxes | 67/77 | €27,751 | €143,118 | +€115,367 | +416% |
| Profit (loss) for the period | 9904 | -€35,052 | €290,905 | +€325,957 | |
| Transfer from tax-exempt reserves | 789 | €117,953 | €117,953 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €82,901 | €408,858 | +€325,957 | +393% |
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 14 October 2026 via checked.be.