VALUE ADDED TELECOM: 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.
VALUE ADDED TELECOM
Largest movements
- Receivables within one year -€19,729
down €19,729 (-36.0%), from €54,729 to €35,000
of which Trade receivables: -€17,453
- Cash +€15,663
up €15,663 (+73.2%), from €21,410 to €37,073
mainly Receivables within one year (+€19,729) and Other debts (+€16,550)
- Other debts +€16,550
up €16,550 (+110%), from €15,000 to €31,550
- Trade debts -€9,176
down €9,176 (-35.6%), from €25,749 to €16,573
- Profit (loss) carried forward -€9,067
no longer reported in 2025 (was €9,067)
- Tax, wage and social debts -€2,390
down €2,390 (-30.5%), from €7,828 to €5,438
- Gross operating margin -€14,989
down €14,989 (-47.8%), from €31,339 to €16,350
- Taxes -€4,136
down €4,136 (-50.4%), from €8,213 to €4,077
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 | €76,194 | €72,110 | -€4,085 | -5.4% |
| Current assets | 29/58 | €76,194 | €72,110 | -€4,085 | -5.4% |
| Amounts receivable within one year | 40/41 | €54,729 | €35,000 | -€19,729 | -36.0% |
| Trade receivables | 40 | €37,420 | €19,967 | -€17,453 | -46.6% |
| Other amounts receivable | 41 | €17,310 | €15,034 | -€2,276 | -13.1% |
| Cash at bank and in hand | 54/58 | €21,410 | €37,073 | +€15,663 | +73.2% |
| Deferred charges and accrued income | 490/1 | €55 | €36 | -€19 | -34.3% |
| Total equity and liabilities | 10/49 | €76,194 | €72,110 | -€4,085 | -5.4% |
| Equity | 10/15 | €27,617 | €18,550 | -€9,067 | -32.8% |
| Reserves | 13 | €18,550 | €18,550 | = | 0.0% |
| Non-distributable reserves | 130/1 | €18,550 | €18,550 | = | 0.0% |
| Reserves not available under the articles | 1311 | €18,550 | €18,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,067 | - | -€9,067 | |
| Amounts payable | 17/49 | €48,577 | €53,560 | +€4,983 | +10.3% |
| Amounts payable within one year | 42/48 | €48,577 | €53,560 | +€4,983 | +10.3% |
| Trade debts | 44 | €25,749 | €16,573 | -€9,176 | -35.6% |
| Suppliers | 440/4 | €25,749 | €16,573 | -€9,176 | -35.6% |
| Taxes, remuneration and social security | 45 | €7,828 | €5,438 | -€2,390 | -30.5% |
| Taxes | 450/3 | €7,828 | €5,438 | -€2,390 | -30.5% |
| Other amounts payable | 47/48 | €15,000 | €31,550 | +€16,550 | +110% |
| Gross operating margin | 9900 | €31,339 | €16,350 | -€14,989 | -47.8% |
| Operating profit (loss) | 9901 | €31,339 | €16,350 | -€14,989 | -47.8% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €40 | €40 | +€0 | +0.2% |
| Recurring financial charges | 65 | €40 | €40 | +€0 | +0.2% |
| Profit (loss) for the period before taxes | 9903 | €31,298 | €16,310 | -€14,988 | -47.9% |
| Income taxes | 67/77 | €8,213 | €4,077 | -€4,136 | -50.4% |
| Profit (loss) for the period | 9904 | €23,085 | €12,232 | -€10,852 | -47.0% |
| Profit (loss) for the period to be appropriated | 9905 | €23,085 | €12,232 | -€10,852 | -47.0% |
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 17 October 2026 via checked.be.