TELL21: 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.
TELL21
Largest movements
- Receivables after one year +€362,000
new in 2025: €362,000
- Receivables within one year +€287,979
up €287,979 (+53.9%), from €533,973 to €821,951
of which Other amounts receivable: +€413,804
- Cash -€202,852
down €202,852 (-30.8%), from €658,185 to €455,333
mainly Receivables after one year (-€362,000) and Receivables within one year (-€287,979)
- Stocks and contracts -€34,106
down €34,106 (-9.1%), from €373,435 to €339,329
- Trade debts +€434,858
up €434,858 (+92.0%), from €472,709 to €907,567
- Reserves +€196,364
up €196,364 (+103%), from €190,050 to €386,414
- Tax, wage and social debts -€116,096
down €116,096 (-57.9%), from €200,673 to €84,577
of which Taxes: -€122,847
- Other debts -€110,762
no longer reported in 2025 (was €110,762)
- Short-term financial debts +€41,825
up €41,825 (+62.5%), from €66,922 to €108,747
- Gross operating margin -€234,845
down €234,845 (-20.8%), from €1.1m to €894,888
- Taxes -€89,260
down €89,260 (-50.9%), from €175,352 to €86,092
- Staff costs +€37,358
up €37,358 (+15.9%), from €235,397 to €272,755
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 | €2,988,652 | €3,400,090 | +€411,438 | +13.8% |
| Fixed assets | 21/28 | €1,390,391 | €1,414,595 | +€24,204 | +1.7% |
| Tangible fixed assets | 22/27 | €1,387,991 | €1,412,195 | +€24,204 | +1.7% |
| Land and buildings | 22 | €1,310,068 | €1,289,871 | -€20,197 | -1.5% |
| Plant, machinery and equipment | 23 | €30,719 | €82,997 | +€52,277 | +170% |
| Furniture and vehicles | 24 | €33,364 | €31,173 | -€2,191 | -6.6% |
| Leasing and similar rights | 25 | €11,030 | €8,154 | -€2,875 | -26.1% |
| Assets under construction and advance payments | 27 | €2,810 | - | -€2,810 | |
| Financial fixed assets | 28 | €2,400 | €2,400 | = | 0.0% |
| Current assets | 29/58 | €1,598,260 | €1,985,495 | +€387,234 | +24.2% |
| Amounts receivable after more than one year | 29 | - | €362,000 | +€362,000 | |
| Other amounts receivable | 291 | - | €362,000 | +€362,000 | |
| Stocks and contracts in progress | 3 | €373,435 | €339,329 | -€34,106 | -9.1% |
| Stocks | 30/36 | €373,435 | €339,329 | -€34,106 | -9.1% |
| Amounts receivable within one year | 40/41 | €533,973 | €821,951 | +€287,979 | +53.9% |
| Trade receivables | 40 | €382,669 | €256,844 | -€125,825 | -32.9% |
| Other amounts receivable | 41 | €151,304 | €565,107 | +€413,804 | +273% |
| Cash at bank and in hand | 54/58 | €658,185 | €455,333 | -€202,852 | -30.8% |
| Deferred charges and accrued income | 490/1 | €32,667 | €6,882 | -€25,786 | -78.9% |
| Total equity and liabilities | 10/49 | €2,988,652 | €3,400,090 | +€411,438 | +13.8% |
| Equity | 10/15 | €719,804 | €916,205 | +€196,401 | +27.3% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €190,050 | €386,414 | +€196,364 | +103% |
| Distributable reserves | 133 | €190,050 | €386,414 | +€196,364 | +103% |
| Profit (loss) carried forward | 14 | €329,754 | €329,792 | +€38 | 0.0% |
| Amounts payable | 17/49 | €2,268,848 | €2,483,885 | +€215,037 | +9.5% |
| Amounts payable after more than one year | 17 | €1,253,158 | €1,227,405 | -€25,753 | -2.1% |
| Financial debts | 170/4 | €1,253,158 | €1,227,405 | -€25,753 | -2.1% |
| Amounts payable within one year | 42/48 | €1,015,690 | €1,256,480 | +€240,790 | +23.7% |
| Current portion of amounts payable after more than one year | 42 | €159,625 | €150,590 | -€9,035 | -5.7% |
| Financial debts | 43 | €66,922 | €108,747 | +€41,825 | +62.5% |
| Credit institutions | 430/8 | €66,922 | €108,747 | +€41,825 | +62.5% |
| Trade debts | 44 | €472,709 | €907,567 | +€434,858 | +92.0% |
| Suppliers | 440/4 | €472,709 | €907,567 | +€434,858 | +92.0% |
| Advances received on contracts in progress | 46 | €5,000 | €5,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €200,673 | €84,577 | -€116,096 | -57.9% |
| Taxes | 450/3 | €155,716 | €32,869 | -€122,847 | -78.9% |
| Remuneration and social security | 454/9 | €44,958 | €51,708 | +€6,750 | +15.0% |
| Other amounts payable | 47/48 | €110,762 | - | -€110,762 | |
| Remuneration, social security and pensions | 62 | €235,397 | €272,755 | +€37,358 | +15.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €221,966 | €232,703 | +€10,737 | +4.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €11,010 | +€11,010 | |
| Other operating charges | 640/8 | €31,942 | €42,508 | +€10,566 | +33.1% |
| Non-recurring operating charges | 66A | - | €1,545 | +€1,545 | |
| Gross operating margin | 9900 | €1,129,733 | €894,888 | -€234,845 | -20.8% |
| Operating profit (loss) | 9901 | €640,427 | €334,367 | -€306,060 | -47.8% |
| Financial income | 75/76B | €5,149 | €7,318 | +€2,169 | +42.1% |
| Recurring financial income | 75 | €5,149 | €7,318 | +€2,169 | +42.1% |
| Financial charges | 65/66B | €70,075 | €59,192 | -€10,883 | -15.5% |
| Recurring financial charges | 65 | €70,075 | €59,192 | -€10,883 | -15.5% |
| Profit (loss) for the period before taxes | 9903 | €575,501 | €282,493 | -€293,007 | -50.9% |
| Income taxes | 67/77 | €175,352 | €86,092 | -€89,260 | -50.9% |
| Profit (loss) for the period | 9904 | €400,149 | €196,401 | -€203,747 | -50.9% |
| Profit (loss) for the period to be appropriated | 9905 | €400,149 | €196,401 | -€203,747 | -50.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.