Théléo: 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
Théléo
NACE 64.210, Activities of holding companies
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€34,874
2024 · €74,632-€39,758
Equity
€16.8m
2024 · €16.8m+€34,874
Cash
€313,658
2024 · €83,419+€230,239
Balance sheet total
€35.6m
2024 · €34.7m+€929,959
Largest movements
Assets
- Receivables within one year +€761,679
up €761,679 (+394.7%), from €192,987 to €954,666
of which Other amounts receivable: +€762,929
Equity and liabilities
- Other debts +€801,096
up €801,096 (+31.2%), from €2.6m to €3.4m
Income statement
- Financial charges +€93,299
up €93,299 (+8.2%), from €1.1m to €1.2m
of which Financial charges: +€93,299
- Financial income +€65,382
up €65,382 (+33.0%), from €197,931 to €263,313
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
€74,632
Gross operating margin
-€3,020
Depreciation
-€5,495
Other operating charges
-€3,206
Financial income
+€65,382
Financial charges
-€93,299
Taxes
-€122
Result 2025
€34,874
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
+€296,601
Investment
€0
Financing
-€66,362
Cash 2024
€83,419
From operations (derived)
+€296,601
Net result for the year
+€34,874
Depreciation
+€62,061
Receivables within one year
-€761,679
Deferred charges and accrued income
-€102
Trade debts
+€68,989
Tax, wage and social debts
-€2,631
Other debts
+€801,096
Accrued charges and deferred income
+€93,994
Financing
-€66,362
Debts after one year
-€67,099
Current portion of long-term debt
+€737
Cash 2025
€313,658
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €34,709,604 | €35,639,563 | +€929,959 | +2.7% |
| Fixed assets | 21/28 | €34,431,145 | €34,369,085 | -€62,061 | -0.2% |
| Tangible fixed assets | 22/27 | €453,217 | €391,157 | -€62,061 | -13.7% |
| Land and buildings | 22 | €286,110 | €263,959 | -€22,150 | -7.7% |
| Plant, machinery and equipment | 23 | €132,063 | €99,904 | -€32,159 | -24.4% |
| Furniture and vehicles | 24 | €35,045 | €27,294 | -€7,752 | -22.1% |
| Financial fixed assets | 28 | €33,977,928 | €33,977,928 | = | 0.0% |
| Current assets | 29/58 | €278,459 | €1,270,479 | +€992,020 | +356.3% |
| Amounts receivable within one year | 40/41 | €192,987 | €954,666 | +€761,679 | +394.7% |
| Trade receivables | 40 | €162,987 | €161,737 | -€1,250 | -0.8% |
| Other amounts receivable | 41 | €30,000 | €792,929 | +€762,929 | +2543.1% |
| Cash at bank and in hand | 54/58 | €83,419 | €313,658 | +€230,239 | +276.0% |
| Deferred charges and accrued income | 490/1 | €2,053 | €2,155 | +€102 | +5.0% |
| Total equity and liabilities | 10/49 | €34,709,604 | €35,639,563 | +€929,959 | +2.7% |
| Equity | 10/15 | €16,766,758 | €16,801,632 | +€34,874 | +0.2% |
| Contributions | 10/11 | €10,550,000 | €10,550,000 | = | 0.0% |
| Reserves | 13 | €6,216,758 | €6,251,632 | +€34,874 | +0.6% |
| Distributable reserves | 133 | €6,216,758 | €6,251,632 | +€34,874 | +0.6% |
| Amounts payable | 17/49 | €17,942,846 | €18,837,931 | +€895,086 | +5.0% |
| Amounts payable after more than one year | 17 | €14,139,866 | €14,072,767 | -€67,099 | -0.5% |
| Financial debts | 170/4 | €14,139,866 | €14,072,767 | -€67,099 | -0.5% |
| Amounts payable within one year | 42/48 | €2,670,512 | €3,538,703 | +€868,191 | +32.5% |
| Current portion of amounts payable after more than one year | 42 | €66,362 | €67,099 | +€737 | +1.1% |
| Trade debts | 44 | €35,375 | €104,364 | +€68,989 | +195.0% |
| Suppliers | 440/4 | €35,375 | €104,364 | +€68,989 | +195.0% |
| Taxes, remuneration and social security | 45 | €3,456 | €825 | -€2,631 | -76.1% |
| Taxes | 450/3 | €3,456 | €825 | -€2,631 | -76.1% |
| Other amounts payable | 47/48 | €2,565,319 | €3,366,415 | +€801,096 | +31.2% |
| Accrued charges and deferred income | 492/3 | €1,132,468 | €1,226,462 | +€93,994 | +8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,566 | €62,061 | +€5,495 | +9.7% |
| Other operating charges | 640/8 | €3,938 | €7,144 | +€3,206 | +81.4% |
| Gross operating margin | 9900 | €1,072,907 | €1,069,888 | -€3,020 | -0.3% |
| Operating profit (loss) | 9901 | €1,012,404 | €1,000,683 | -€11,720 | -1.2% |
| Financial income | 75/76B | €197,931 | €263,313 | +€65,382 | +33.0% |
| Recurring financial income | 75 | €197,931 | €263,313 | +€65,382 | +33.0% |
| Financial charges | 65/66B | €1,135,662 | €1,228,961 | +€93,299 | +8.2% |
| Recurring financial charges | 65 | €1,135,662 | €1,228,961 | +€93,299 | +8.2% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €74,672 | €35,036 | -€39,637 | -53.1% |
| Income taxes | 67/77 | €41 | €162 | +€122 | +299.7% |
| Profit (loss) for the period | 9904 | €74,632 | €34,874 | -€39,758 | -53.3% |
| Profit (loss) for the period to be appropriated | 9905 | €74,632 | €34,874 | -€39,758 | -53.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.