TELLUS: 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.
TELLUS
Largest movements
- Cash +€2.8m
up €2.8m (+39.1%), from €7.1m to €9.8m
mainly Depreciation (+€1.5m) and Accrued charges and deferred income (+€1.1m)
- Tangible fixed assets -€1.1m
down €1.1m (-8.4%), from €13.7m to €12.6m
of which Land and buildings: -€1.3m
- Receivables within one year -€542,949
down €542,949 (-99.4%), from €546,024 to €3,076
of which Trade receivables: -€541,924
- Accrued charges and deferred income +€1.1m
new in 2025: €1.1m
- Debts after one year +€1.0m
up €1.0m (+6.0%), from €16.8m to €17.8m
- Profit (loss) carried forward -€514,772
down €514,772 (-174.3%), from -€295,392 to -€810,164
- Trade debts -€433,625
down €433,625 (-68.2%), from €635,853 to €202,229
- Gross operating margin -€175,391
down €175,391 (-7.1%), from €2.5m to €2.3m
- Depreciation +€119,864
up €119,864 (+8.4%), from €1.4m to €1.5m
- Financial charges +€54,704
up €54,704 (+5.7%), from €952,025 to €1.0m
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €21,331,111 | €22,416,848 | +€1.1m | +5.1% |
| Fixed assets | 21/28 | €13,697,888 | €12,553,297 | -€1.1m | -8.4% |
| Tangible fixed assets | 22/27 | €13,697,888 | €12,553,297 | -€1.1m | -8.4% |
| Land and buildings | 22 | €13,697,888 | €12,398,001 | -€1.3m | -9.5% |
| Plant, machinery and equipment | 23 | - | €155,296 | +€155,296 | |
| Current assets | 29/58 | €7,633,222 | €9,863,551 | +€2.2m | +29.2% |
| Amounts receivable within one year | 40/41 | €546,024 | €3,076 | -€542,949 | -99.4% |
| Trade receivables | 40 | €541,924 | - | -€541,924 | |
| Other amounts receivable | 41 | €4,100 | €3,076 | -€1,024 | -25.0% |
| Cash at bank and in hand | 54/58 | €7,058,273 | €9,820,992 | +€2.8m | +39.1% |
| Deferred charges and accrued income | 490/1 | €28,925 | €39,483 | +€10,558 | +36.5% |
| Total equity and liabilities | 10/49 | €21,331,111 | €22,416,848 | +€1.1m | +5.1% |
| Equity | 10/15 | €3,867,501 | €3,338,950 | -€528,551 | -13.7% |
| Contributions | 10/11 | €3,750,000 | €3,750,000 | = | 0.0% |
| Capital | 10 | €3,750,000 | €3,750,000 | = | 0.0% |
| Issued capital | 100 | €3,750,000 | €3,750,000 | = | 0.0% |
| Reserves | 13 | €412,893 | €399,114 | -€13,779 | -3.3% |
| Non-distributable reserves | 130/1 | €375,000 | €375,000 | = | 0.0% |
| Legal reserve | 130 | €375,000 | €375,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,893 | €24,114 | -€13,779 | -36.4% |
| Profit (loss) carried forward | 14 | -€295,392 | -€810,164 | -€514,772 | -174.3% |
| Provisions and deferred taxes | 16 | €12,631 | €8,038 | -€4,593 | -36.4% |
| Deferred taxes | 168 | €12,631 | €8,038 | -€4,593 | -36.4% |
| Amounts payable | 17/49 | €17,450,979 | €19,069,860 | +€1.6m | +9.3% |
| Amounts payable after more than one year | 17 | €16,772,435 | €17,778,781 | +€1.0m | +6.0% |
| Financial debts | 170/4 | €16,772,435 | €17,778,781 | +€1.0m | +6.0% |
| Amounts payable within one year | 42/48 | €678,544 | €241,052 | -€437,491 | -64.5% |
| Trade debts | 44 | €635,853 | €202,229 | -€433,625 | -68.2% |
| Suppliers | 440/4 | €635,853 | €202,229 | -€433,625 | -68.2% |
| Taxes, remuneration and social security | 45 | €42,690 | €38,824 | -€3,867 | -9.1% |
| Taxes | 450/3 | €42,690 | €38,824 | -€3,867 | -9.1% |
| Accrued charges and deferred income | 492/3 | - | €1,050,027 | +€1.1m | |
| Non-recurring operating income | 76A | - | €242 | +€242 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,422,801 | €1,542,666 | +€119,864 | +8.4% |
| Other operating charges | 640/8 | €278,365 | €287,314 | +€8,950 | +3.2% |
| Gross operating margin | 9900 | €2,470,023 | €2,294,632 | -€175,391 | -7.1% |
| Operating profit (loss) | 9901 | €768,857 | €464,652 | -€304,205 | -39.6% |
| Financial income | 75/76B | €10,883 | €8,932 | -€1,951 | -17.9% |
| Recurring financial income | 75 | €10,883 | €8,932 | -€1,951 | -17.9% |
| Financial charges | 65/66B | €952,025 | €1,006,729 | +€54,704 | +5.7% |
| Recurring financial charges | 65 | €952,025 | €1,006,729 | +€54,704 | +5.7% |
| Profit (loss) for the period before taxes | 9903 | -€172,285 | -€533,144 | -€360,860 | -209.5% |
| Transfer from deferred taxes | 780 | €4,593 | €4,593 | = | 0.0% |
| Income taxes | 67/77 | -€739 | - | +€739 | |
| Profit (loss) for the period | 9904 | -€166,953 | -€528,551 | -€361,598 | -216.6% |
| Transfer from tax-exempt reserves | 789 | €13,779 | €13,779 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€153,173 | -€514,772 | -€361,598 | -236.1% |
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 29 September 2026 via checked.be.