TELWAVE: 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.
TELWAVE
Largest movements
- Tangible fixed assets -€14,513
down €14,513 (-16.1%), from €90,386 to €75,874
of which Furniture and vehicles: -€15,562
- Cash -€13,418
down €13,418 (-46.1%), from €29,121 to €15,702
mainly Trade debts (-€146,490) and Investment in fixed assets (net) (-€7,012)
- Receivables within one year +€3,343
up €3,343 (+2.1%), from €159,918 to €163,261
of which Other amounts receivable: +€4,010
- Trade debts -€146,490
down €146,490 (-77.9%), from €188,035 to €41,545
- Profit (loss) carried forward +€78,647
up €78,647 (+178%), from €44,237 to €122,883
- Tax, wage and social debts +€13,429
up €13,429 (+49.7%), from €27,036 to €40,464
of which Taxes: +€13,301
- Debts after one year +€13,271
up €13,271 (+129%), from €10,325 to €23,596
- Short-term financial debts +€10,578
up €10,578 (+102%), from €10,388 to €20,966
- Gross operating margin +€278,206
up €278,206 (+67.5%), from €412,291 to €690,497
- Turnover +€250,217
up €250,217 (+35.5%), from €704,648 to €954,864
- Staff costs +€196,684
up €196,684 (+54.7%), from €359,268 to €555,952
- Purchases and services -€28,766
down €28,766 (-8.9%), from €323,608 to €294,842
- Taxes +€17,123
up €17,123 (+135%), from €12,660 to €29,783
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 | €282,020 | €255,455 | -€26,565 | -9.4% |
| Fixed assets | 21/28 | €90,386 | €75,874 | -€14,513 | -16.1% |
| Tangible fixed assets | 22/27 | €90,386 | €75,874 | -€14,513 | -16.1% |
| Plant, machinery and equipment | 23 | €1,451 | €2,500 | +€1,049 | +72.3% |
| Furniture and vehicles | 24 | €88,936 | €73,374 | -€15,562 | -17.5% |
| Current assets | 29/58 | €191,634 | €179,582 | -€12,053 | -6.3% |
| Amounts receivable within one year | 40/41 | €159,918 | €163,261 | +€3,343 | +2.1% |
| Trade receivables | 40 | €123,958 | €123,291 | -€667 | -0.5% |
| Other amounts receivable | 41 | €35,960 | €39,970 | +€4,010 | +11.2% |
| Cash at bank and in hand | 54/58 | €29,121 | €15,702 | -€13,418 | -46.1% |
| Deferred charges and accrued income | 490/1 | €2,596 | €618 | -€1,978 | -76.2% |
| Total equity and liabilities | 10/49 | €282,020 | €255,455 | -€26,565 | -9.4% |
| Equity | 10/15 | €46,237 | €128,883 | +€82,647 | +179% |
| Contributions | 10/11 | €2,000 | €6,000 | +€4,000 | +200% |
| Profit (loss) carried forward | 14 | €44,237 | €122,883 | +€78,647 | +178% |
| Amounts payable | 17/49 | €235,784 | €126,572 | -€109,212 | -46.3% |
| Amounts payable after more than one year | 17 | €10,325 | €23,596 | +€13,271 | +129% |
| Financial debts | 170/4 | €10,325 | €23,596 | +€13,271 | +129% |
| Amounts payable within one year | 42/48 | €225,459 | €102,976 | -€122,483 | -54.3% |
| Financial debts | 43 | €10,388 | €20,966 | +€10,578 | +102% |
| Credit institutions | 430/8 | €10,388 | €20,966 | +€10,578 | +102% |
| Trade debts | 44 | €188,035 | €41,545 | -€146,490 | -77.9% |
| Suppliers | 440/4 | €188,035 | €41,545 | -€146,490 | -77.9% |
| Taxes, remuneration and social security | 45 | €27,036 | €40,464 | +€13,429 | +49.7% |
| Taxes | 450/3 | €27,036 | €40,337 | +€13,301 | +49.2% |
| Remuneration and social security | 454/9 | - | €127 | +€127 | |
| Turnover | 70 | €704,648 | €954,864 | +€250,217 | +35.5% |
| Non-recurring operating income | 76A | €31,251 | €30,474 | -€777 | -2.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €323,608 | €294,842 | -€28,766 | -8.9% |
| Remuneration, social security and pensions | 62 | €359,268 | €555,952 | +€196,684 | +54.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,457 | €21,524 | +€6,067 | +39.3% |
| Other operating charges | 640/8 | €2,187 | €3,305 | +€1,117 | +51.1% |
| Gross operating margin | 9900 | €412,291 | €690,497 | +€278,206 | +67.5% |
| Operating profit (loss) | 9901 | €35,378 | €109,716 | +€74,338 | +210% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €778 | €1,287 | +€508 | +65.3% |
| Recurring financial charges | 65 | €778 | €1,287 | +€508 | +65.3% |
| Profit (loss) for the period before taxes | 9903 | €34,600 | €108,430 | +€73,830 | +213% |
| Income taxes | 67/77 | €12,660 | €29,783 | +€17,123 | +135% |
| Profit (loss) for the period | 9904 | €21,940 | €78,647 | +€56,706 | +258% |
| Profit (loss) for the period to be appropriated | 9905 | €21,940 | €78,647 | +€56,706 | +258% |
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 15 October 2026 via checked.be.