TELS QUELS: 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.
TELS QUELS
Largest movements
- Cash +€48,522
up €48,522 (+90.5%), from €53,610 to €102,132
mainly Receivables within one year (+€30,644) and Net result for the year (+€17,372)
- Receivables within one year -€30,644
down €30,644 (-62.0%), from €49,445 to €18,801
of which Other amounts receivable: -€21,894
- Deferred charges and accrued income +€6,679
up €6,679 (+8.8%), from €75,492 to €82,171
- Reserves +€16,000
up €16,000 (+47.1%), from €34,000 to €50,000
- Accrued charges and deferred income +€7,742
up €7,742 (+96.8%), from €8,000 to €15,742
- Staff costs +€16,016
up €16,016 (+2.3%), from €711,552 to €727,568
- Gross operating margin +€15,233
up €15,233 (+2.1%), from €736,408 to €751,641
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 | €183,315 | €206,936 | +€23,621 | +12.9% |
| Fixed assets | 21/28 | €4,768 | €3,833 | -€936 | -19.6% |
| Tangible fixed assets | 22/27 | €3,921 | €2,985 | -€936 | -23.9% |
| Furniture and vehicles | 24 | €3,921 | €2,985 | -€936 | -23.9% |
| Financial fixed assets | 28 | €848 | €848 | = | 0.0% |
| Current assets | 29/58 | €178,547 | €203,103 | +€24,556 | +13.8% |
| Amounts receivable within one year | 40/41 | €49,445 | €18,801 | -€30,644 | -62.0% |
| Trade receivables | 40 | €16,527 | €7,777 | -€8,750 | -52.9% |
| Other amounts receivable | 41 | €32,918 | €11,024 | -€21,894 | -66.5% |
| Cash at bank and in hand | 54/58 | €53,610 | €102,132 | +€48,522 | +90.5% |
| Deferred charges and accrued income | 490/1 | €75,492 | €82,171 | +€6,679 | +8.8% |
| Total equity and liabilities | 10/49 | €183,315 | €206,936 | +€23,621 | +12.9% |
| Equity | 10/15 | €49,228 | €66,600 | +€17,372 | +35.3% |
| Reserves | 13 | €34,000 | €50,000 | +€16,000 | +47.1% |
| Profit (loss) carried forward | 14 | €15,228 | €16,600 | +€1,372 | +9.0% |
| Amounts payable | 17/49 | €134,087 | €140,336 | +€6,249 | +4.7% |
| Amounts payable within one year | 42/48 | €126,087 | €124,594 | -€1,494 | -1.2% |
| Trade debts | 44 | €11,315 | €9,254 | -€2,061 | -18.2% |
| Suppliers | 440/4 | €11,315 | €9,254 | -€2,061 | -18.2% |
| Taxes, remuneration and social security | 45 | €114,772 | €115,339 | +€567 | +0.5% |
| Taxes | 450/3 | €21,705 | €23,151 | +€1,446 | +6.7% |
| Remuneration and social security | 454/9 | €93,067 | €92,188 | -€879 | -0.9% |
| Accrued charges and deferred income | 492/3 | €8,000 | €15,742 | +€7,742 | +96.8% |
| Remuneration, social security and pensions | 62 | €711,552 | €727,568 | +€16,016 | +2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,587 | €936 | -€651 | -41.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,000 | - | -€3,000 | |
| Other operating charges | 640/8 | €4,159 | €4,682 | +€522 | +12.6% |
| Gross operating margin | 9900 | €736,408 | €751,641 | +€15,233 | +2.1% |
| Operating profit (loss) | 9901 | €16,110 | €18,455 | +€2,345 | +14.6% |
| Financial charges | 65/66B | €1,168 | €1,083 | -€85 | -7.2% |
| Recurring financial charges | 65 | €1,168 | €1,083 | -€85 | -7.2% |
| Profit (loss) for the period before taxes | 9903 | €14,943 | €17,372 | +€2,430 | +16.3% |
| Profit (loss) for the period | 9904 | €14,943 | €17,372 | +€2,430 | +16.3% |
| Profit (loss) for the period to be appropriated | 9905 | €14,943 | €17,372 | +€2,430 | +16.3% |
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 1 November 2026 via checked.be.