Tell-Ex: 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.
Tell-Ex
Largest movements
- Receivables within one year +€25,475
up €25,475 (+117%), from €21,716 to €47,192
of which Trade receivables: +€25,716
- Cash -€22,792
down €22,792 (-50.1%), from €45,521 to €22,728
mainly Trade debts (-€34,653) and Receivables within one year (-€25,475)
- Tangible fixed assets -€10,562
down €10,562 (-12.3%), from €85,830 to €75,268
of which Furniture and vehicles: -€6,712
- Deferred charges and accrued income -€3,062
down €3,062 (-45.9%), from €6,671 to €3,609
- Trade debts -€34,653
down €34,653 (-79.5%), from €43,609 to €8,956
- Reserves +€23,492
up €23,492 (+19.9%), from €118,028 to €141,521
of which Distributable reserves: +€23,492
- Other debts -€10,096
down €10,096 (-23.5%), from €42,989 to €32,893
- Tax, wage and social debts +€8,436
up €8,436 (+91.3%), from €9,243 to €17,679
- Accrued charges and deferred income +€1,880
new in 2025: €1,880
- Gross operating margin +€17,534
up €17,534 (+40.3%), from €43,517 to €61,051
- Taxes +€8,140
up €8,140 (+171%), from €4,759 to €12,900
- Depreciation +€6,935
up €6,935 (+51.4%), from €13,486 to €20,421
- Financial charges +€2,481
up €2,481 (+580%), from €428 to €2,909
- Other operating charges +€618
up €618 (+69.5%), from €890 to €1,508
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 | €161,737 | €150,797 | -€10,941 | -6.8% |
| Fixed assets | 21/28 | €87,830 | €77,268 | -€10,562 | -12.0% |
| Tangible fixed assets | 22/27 | €85,830 | €75,268 | -€10,562 | -12.3% |
| Land and buildings | 22 | €29,994 | €27,193 | -€2,801 | -9.3% |
| Plant, machinery and equipment | 23 | €7,833 | €6,784 | -€1,048 | -13.4% |
| Furniture and vehicles | 24 | €48,003 | €41,291 | -€6,712 | -14.0% |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €73,908 | €73,529 | -€379 | -0.5% |
| Amounts receivable within one year | 40/41 | €21,716 | €47,192 | +€25,475 | +117% |
| Trade receivables | 40 | €21,476 | €47,192 | +€25,716 | +120% |
| Other amounts receivable | 41 | €241 | - | -€241 | |
| Cash at bank and in hand | 54/58 | €45,521 | €22,728 | -€22,792 | -50.1% |
| Deferred charges and accrued income | 490/1 | €6,671 | €3,609 | -€3,062 | -45.9% |
| Total equity and liabilities | 10/49 | €161,737 | €150,797 | -€10,941 | -6.8% |
| Equity | 10/15 | €65,897 | €89,389 | +€23,492 | +35.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €118,028 | €141,521 | +€23,492 | +19.9% |
| Tax-exempt reserves | 132 | €20,000 | €20,000 | = | 0.0% |
| Distributable reserves | 133 | €98,028 | €121,521 | +€23,492 | +24.0% |
| Profit (loss) carried forward | 14 | -€70,732 | -€70,732 | = | 0.0% |
| Amounts payable | 17/49 | €95,841 | €61,408 | -€34,433 | -35.9% |
| Amounts payable within one year | 42/48 | €95,841 | €59,527 | -€36,313 | -37.9% |
| Trade debts | 44 | €43,609 | €8,956 | -€34,653 | -79.5% |
| Suppliers | 440/4 | €43,609 | €8,956 | -€34,653 | -79.5% |
| Taxes, remuneration and social security | 45 | €9,243 | €17,679 | +€8,436 | +91.3% |
| Taxes | 450/3 | €9,243 | €17,679 | +€8,436 | +91.3% |
| Other amounts payable | 47/48 | €42,989 | €32,893 | -€10,096 | -23.5% |
| Accrued charges and deferred income | 492/3 | - | €1,880 | +€1,880 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,486 | €20,421 | +€6,935 | +51.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €569 | - | -€569 | |
| Other operating charges | 640/8 | €890 | €1,508 | +€618 | +69.5% |
| Non-recurring operating charges | 66A | - | €18 | +€18 | |
| Gross operating margin | 9900 | €43,517 | €61,051 | +€17,534 | +40.3% |
| Operating profit (loss) | 9901 | €28,573 | €39,104 | +€10,532 | +36.9% |
| Financial income | 75/76B | €371 | €197 | -€174 | -46.9% |
| Recurring financial income | 75 | €371 | €197 | -€174 | -46.9% |
| Financial charges | 65/66B | €428 | €2,909 | +€2,481 | +580% |
| Recurring financial charges | 65 | €428 | €2,909 | +€2,481 | +580% |
| Profit (loss) for the period before taxes | 9903 | €28,516 | €36,392 | +€7,876 | +27.6% |
| Income taxes | 67/77 | €4,759 | €12,900 | +€8,140 | +171% |
| Profit (loss) for the period | 9904 | €23,757 | €23,492 | -€264 | -1.1% |
| Profit (loss) for the period to be appropriated | 9905 | €23,757 | €23,492 | -€264 | -1.1% |
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 27 October 2026 via checked.be.