TELVAIN: 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.
What changed
TELVAIN
NACE 82.990, Other business support services
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€24,286
2024 · €104,619-€80,333
Equity
€656,803
2024 · €653,265+€3,538
Cash
€156,610
2024 · €127,649+€28,961
Balance sheet total
€1.2m
2024 · €1.2m+€51,084
Largest movements
Assets
- Cash +€28,961
up €28,961 (+22.7%), from €127,649 to €156,610
mainly Net result for the year (+€24,286) and Debts after one year (+€23,387)
Equity and liabilities
- Debts after one year +€23,387
up €23,387 (+5.7%), from €412,500 to €435,887
- Other debts +€21,520
up €21,520 (+92.9%), from €23,174 to €44,694
Income statement
- Financial income -€99,730
down €99,730 (-99.6%), from €100,132 to €402
- Write-downs -€35,302
no longer reported in 2025 (was €35,302)
- Financial charges +€25,180
up €25,180 (+70.1%), from €35,917 to €61,097
- Taxes -€11,703
down €11,703 (-52.8%), from €22,162 to €10,459
- Depreciation +€1,659
up €1,659 (+186.7%), from €888 to €2,547
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
€104,619
Gross operating margin
-€1,449
Depreciation
-€1,659
Write-downs
+€35,302
Provisions
-€692
Other operating charges
+€1,372
Financial income
-€99,730
Financial charges
-€25,180
Taxes
+€11,703
Result 2025
€24,286
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.
From operations
+€45,176
Investment
-€16,453
Financing
+€237
Cash 2024
€127,649
From operations (derived)
+€45,176
Net result for the year
+€24,286
Depreciation
+€2,547
Receivables within one year
-€4,967
Deferred charges and accrued income
-€3,252
Provisions
+€692
Trade debts
+€3,304
Tax, wage and social debts
+€5,552
Other debts
+€21,520
Accrued charges and deferred income
-€4,507
Investment (derived)
-€16,453
Investment in fixed assets (net)
-€10,051
Current investments
-€6,402
Financing
+€237
Debts after one year
+€23,387
Current portion of long-term debt
-€2,402
Contributions, distributions and other
-€20,748
Cash 2025
€156,610
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,155,571 | €1,206,656 | +€51,084 | +4.4% |
| Fixed assets | 21/28 | €906,105 | €913,609 | +€7,503 | +0.8% |
| Tangible fixed assets | 22/27 | €5,327 | €12,831 | +€7,503 | +140.8% |
| Plant, machinery and equipment | 23 | - | €1,150 | +€1,150 | |
| Furniture and vehicles | 24 | €5,327 | €11,680 | +€6,353 | +119.3% |
| Financial fixed assets | 28 | €900,778 | €900,778 | = | 0.0% |
| Current assets | 29/58 | €249,466 | €293,047 | +€43,581 | +17.5% |
| Amounts receivable within one year | 40/41 | €66,774 | €71,741 | +€4,967 | +7.4% |
| Trade receivables | 40 | €60,447 | €54,771 | -€5,676 | -9.4% |
| Other amounts receivable | 41 | €6,327 | €16,970 | +€10,643 | +168.2% |
| Current investments | 50/53 | €54,535 | €60,938 | +€6,402 | +11.7% |
| Cash at bank and in hand | 54/58 | €127,649 | €156,610 | +€28,961 | +22.7% |
| Deferred charges and accrued income | 490/1 | €507 | €3,759 | +€3,252 | +641.0% |
| Total equity and liabilities | 10/49 | €1,155,571 | €1,206,656 | +€51,084 | +4.4% |
| Equity | 10/15 | €653,265 | €656,803 | +€3,538 | +0.5% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | - | €62,500 | +€62,500 | |
| Issued capital | 100 | - | €62,500 | +€62,500 | |
| Reserves | 13 | €590,765 | €594,303 | +€3,538 | +0.6% |
| Non-distributable reserves | 130/1 | €22,604 | €22,604 | = | 0.0% |
| Legal reserve | 130 | - | €22,604 | +€22,604 | |
| Reserves not available under the articles | 1311 | €22,604 | - | -€22,604 | |
| Distributable reserves | 133 | €568,162 | €571,700 | +€3,538 | +0.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | €35,302 | €35,995 | +€692 | +2.0% |
| Provisions for liabilities and charges | 160/5 | €35,302 | €35,995 | +€692 | +2.0% |
| Other liabilities and charges | 164/5 | €35,302 | €35,995 | +€692 | +2.0% |
| Amounts payable | 17/49 | €467,004 | €513,858 | +€46,854 | +10.0% |
| Amounts payable after more than one year | 17 | €412,500 | €435,887 | +€23,387 | +5.7% |
| Other amounts payable | 178/9 | €412,500 | €435,887 | +€23,387 | +5.7% |
| Amounts payable within one year | 42/48 | €49,997 | €77,971 | +€27,974 | +56.0% |
| Current portion of amounts payable after more than one year | 42 | €2,402 | €0 | -€2,402 | -100.0% |
| Trade debts | 44 | €3,961 | €7,265 | +€3,304 | +83.4% |
| Suppliers | 440/4 | €3,961 | €7,265 | +€3,304 | +83.4% |
| Taxes, remuneration and social security | 45 | €20,460 | €26,012 | +€5,552 | +27.1% |
| Taxes | 450/3 | €20,460 | €26,012 | +€5,552 | +27.1% |
| Other amounts payable | 47/48 | €23,174 | €44,694 | +€21,520 | +92.9% |
| Accrued charges and deferred income | 492/3 | €4,507 | €0 | -€4,507 | -100.0% |
| Non-recurring operating income | 76A | €27,088 | €3,632 | -€23,456 | -86.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €888 | €2,547 | +€1,659 | +186.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €35,302 | - | -€35,302 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €692 | +€692 | |
| Other operating charges | 640/8 | €2,832 | €1,461 | -€1,372 | -48.4% |
| Gross operating margin | 9900 | €101,589 | €100,140 | -€1,449 | -1.4% |
| Operating profit (loss) | 9901 | €62,566 | €95,440 | +€32,874 | +52.5% |
| Financial income | 75/76B | €100,132 | €402 | -€99,730 | -99.6% |
| Recurring financial income | 75 | €100,132 | €402 | -€99,730 | -99.6% |
| Financial charges | 65/66B | €35,917 | €61,097 | +€25,180 | +70.1% |
| Recurring financial charges | 65 | €35,917 | €61,097 | +€25,180 | +70.1% |
| Profit (loss) for the period before taxes | 9903 | €126,781 | €34,745 | -€92,036 | -72.6% |
| Income taxes | 67/77 | €22,162 | €10,459 | -€11,703 | -52.8% |
| Profit (loss) for the period | 9904 | €104,619 | €24,286 | -€80,333 | -76.8% |
| Profit (loss) for the period to be appropriated | 9905 | €104,619 | €24,286 | -€80,333 | -76.8% |
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 3 October 2026 via checked.be.