Private company

Telenet group

Logo: telenet.be³

Largest provider of cable broadband services in Belgium

Telenet Group N.V. is the largest provider of cable broadband services in Belgium. Its business comprises the provision of analog and digital cable television, fixed and mobile telephone services, primarily to residential customers in Flanders and Brussels.² From Wikipedia, CC BY-SA 4.0

Last updated Oct 18, 2026.

Overview

1996Founded¹

Tickeron Euronext¹
Industrycable television, mobile phone industry, telecommunications industry¹
HeadquartersMechelen¹
Websitewww.telenet.be
Legal formPublic limited company (Belgium)¹
Listed onEuronext (tnet)¹

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

3.1%Net margin⁶

-0.9%Revenue growth, 2025⁶

287.0%Return on equity⁶

16.57×Debt to equity⁶

$234.0MFree cash flow⁶

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Insurance Services brought in 85% of the revenue Telenet group broke down this way in fiscal 2025.

Insurance Services$4.2B⁶85%up 0% from 2024
Professional Services$719.0M⁶15%down 6% from 2024

Products and services by year

Products and services	2023	2024	2025
Insurance Services	$4.2B	$4.2B	$4.2B
Professional Services	$756.0M	$765.0M	$719.0M

Where the money goes

Where each dollar of revenue went, fiscal 2025

Other costs

Research and development1¢$71.0M
Other costs94¢$4.7B
Income tax1¢$62.0M
Profit3¢$155.0M

Out of $5.0B in revenue.⁶

Where each dollar of operating cash went, fiscal 2025

Capital spendingDividends paidShare buybacks

Capital spending23¢$69.0M
Dividends paid17¢$52.0M
Share buybacks60¢$183.0M

Out of $303.0M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.⁶

Financial statements

Revenue⁷⁸⁹⁶$5.0B in 2025+30% since 2019

Operating income⁷⁸⁹$469.0M in 2023+75% since 2019

Net income⁷⁸⁹¹⁰⁶$155.0M in 2025−27% since 2019

Every line of the income statement in the latest annual report, as filed.⁶

Period ending	2025-12-31	2024-12-31	2023-12-31
Interest income	$67.0M	$64.0M	$72.0M
Total revenues	$5.0B	$5.1B	$5.0B
Insurance costs	$3.8B	$3.8B	$3.5B
Cost of providing services	$289.0M	$304.0M	$307.0M
Sales and marketing	$269.0M	$289.0M	$285.0M
General and administrative	$207.0M	$232.0M	$211.0M
Systems development and programming	$71.0M	$68.0M	$65.0M
Depreciation and amortization of intangible assets	$66.0M	$75.0M	$72.0M
Interest expense, bank fees and other	$56.0M	$62.0M	$40.0M
Income before tax	$217.0M	$226.0M	$501.0M
Income taxes	$62.0M	$53.0M	$126.0M
Net income	$155.0M	$173.0M	$375.0M
Other comprehensive (loss) income, net of income taxes	$3.0M	-$1.0M	$3.0M
Comprehensive income	$158.0M	$172.0M	$378.0M
Basic (in dollars per share)	$3.20	$3.47	$6.61
Diluted (in dollars per share)	$3.20	$3.43	$6.56
Basic (in shares)	48.0M shares	50.0M shares	57.0M shares
Diluted (in shares)	49.0M shares	50.0M shares	57.0M shares

Total assets¹³⁷⁸⁹¹⁰⁶$3.8B in 2025+38% since 2019

Total liabilities¹³⁷⁸⁹¹⁰⁶$3.7B in 2025+65% since 2019

Shareholders’ equity⁸⁹¹⁰⁶$54.0M in 2025−89% since 2019

Cash¹³⁷⁸⁹¹⁰⁶$287.0M in 2025+35% since 2019

Long-term debt¹³⁷⁸⁹¹⁰⁶$895.0M in 2025+143% since 2019

Every line of the balance sheet in the latest annual report, as filed.⁶

Period ending	2025-12-31	2024-12-31	2023-12-31
Cash and cash equivalents	$287.0M	$360.0M
Restricted cash, cash equivalents and investments	$1.7B	$1.4B
Accounts receivable, net	$20.0M	$32.0M
Payroll funds receivable	$264.0M	$349.0M
Prepaid expenses, net	$82.0M	$64.0M
Other payroll assets	$474.0M	$916.0M
Other current assets	$47.0M	$46.0M
Total current assets	$2.9B	$3.2B
Restricted cash, cash equivalents and investments, noncurrent	$128.0M	$145.0M
Property and equipment, net	$11.0M	$10.0M
Operating lease right-of-use asset	$36.0M	$24.0M
Goodwill	$461.0M	$461.0M	$462.0M
Software and other intangible assets, net	$153.0M	$156.0M
Other assets	$140.0M	$143.0M
Total assets	$3.8B	$4.1B
Accounts payable and other current liabilities	$86.0M	$89.0M
Revolving credit agreement borrowings	$0	$75.0M
Client deposits and other client liabilities	$57.0M	$76.0M
Accrued wages	$555.0M	$580.0M
Accrued health insurance costs, net	$207.0M	$189.0M
Accrued workers' compensation costs, net	$42.0M	$44.0M
Payroll tax liabilities and other payroll withholdings	$1.7B	$1.9B
Operating lease liabilities	$10.0M	$13.0M
Insurance premiums and other payables	$9.0M	$9.0M
Total current liabilities	$2.6B	$3.0B
Long-term debt, noncurrent	$895.0M	$908.0M
Accrued workers' compensation costs, noncurrent, net	$106.0M	$110.0M
Deferred taxes	$55.0M	$11.0M
Operating lease liabilities, noncurrent	$37.0M	$26.0M
Other non current liabilities	$13.0M	$14.0M
Total liabilities	$3.7B	$4.0B
Preferred stock, ($0.000025 par value per share; 20,000,000 shares authorized; no shares issued or outstanding at December 31, 2025 and 2024)	$0	$0
Common stock and additional paid-in capital, ($0.000025 par value per share; 750,000,000 shares authorized; 47,377,950 and 49,527,506 shares issued and outstanding at December 31, 2025 and 2024, respectively)	$1.1B	$1.1B
Retained earnings (Accumulated deficit)	-$1.1B	-$984.0M
Accumulated other comprehensive loss	$0	-$3.0M
Total stockholders' equity	$54.0M	$69.0M	$78.0M
Total liabilities & stockholders' equity	$3.8B	$4.1B
Preferred stock, par value (in dollars per share)	$0.00	$0.00
Preferred stock, shares authorized (in shares)	20.0M shares	20.0M shares
Preferred stock, shares issued (in shares)	0 shares	0 shares
Preferred stock, shares outstanding (in shares)	0 shares	0 shares
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized (in shares)	750.0M shares	750.0M shares
Common stock, shares issued (in shares)	47.4M shares	49.5M shares	50.7M shares
Common stock, shares outstanding (in shares)	47.4M shares	49.5M shares	50.7M shares

Cash from operations⁷⁸⁹¹⁰⁶$303.0M in 2025−36% since 2019

Capital spending⁷⁸⁹¹⁰⁶$69.0M in 2025+53% since 2019

Free cash flow⁷⁸⁹¹⁰⁶$234.0M in 2025−45% since 2019

Dividends paid¹⁰⁶$52.0M in 2025

Share buybacks⁷⁸⁹¹⁰⁶$183.0M in 2025+31% since 2019

Every line of the cash flow in the latest annual report, as filed.⁶

Period ending	2025-12-31	2024-12-31	2023-12-31
Net income	$155.0M	$173.0M	$375.0M
Depreciation and amortization of intangible assets	$66.0M	$75.0M	$72.0M
Amortization of deferred costs	$49.0M	$44.0M	$40.0M
Amortization of ROU asset, lease modification, impairment, and abandonment	$7.0M	$11.0M	$9.0M
Stock based compensation	$65.0M	$65.0M	$59.0M
Deferred income taxes	$45.0M	-$2.0M	$5.0M
Impairment of intangibles and other	$5.0M	$28.0M	$7.0M
Accounts receivable, net	$0	-$2.0M	-$3.0M
Prepaid expenses, net	-$12.0M	-$18.0M	$4.0M
Other payroll assets	$0	$3.0M	-$3.0M
Other assets	-$42.0M	-$52.0M	-$35.0M
Accounts payable and other liabilities	-$4.0M	$0	-$11.0M
Client deposits and other client liabilities	-$3.0M	-$10.0M	$23.0M
Accrued wages	-$2.0M	-$5.0M	$7.0M
Accrued health insurance costs, net	$1.0M	-$2.0M	$7.0M
Accrued workers' compensation costs, net	-$4.0M	-$11.0M	-$8.0M
Payroll taxes payable and other payroll withholdings	-$10.0M	-$3.0M	$8.0M
Operating lease liabilities	-$13.0M	-$15.0M	-$17.0M
Net cash provided by operating activities	$303.0M	$279.0M	$539.0M
Purchases of marketable securities	-$78.0M	-$190.0M	-$276.0M
Proceeds from sale and maturity of marketable securities	$103.0M	$421.0M	$286.0M
Acquisitions of property and equipment and software	-$69.0M	-$78.0M	-$75.0M
Proceeds from sale of business	$1.0M	$0	$0
Other Investments	$0	$0	-$5.0M
Net cash provided by (used in) investing activities	-$43.0M	$153.0M	-$70.0M
Change in WSE and TriNet Trust related assets and liabilities, net	$281.0M	$139.0M	$6.0M
Repurchase of common stock	-$183.0M	-$183.0M	-$1.1B
Proceeds from issuance of common stock	$11.0M	$12.0M	$15.0M
Payment of long-term financing costs and debt issuance costs	$0	$0	-$9.0M
Proceeds from issuance of 2031 Notes	$0	$0	$400.0M
Proceeds from revolving credit agreement borrowings	$0	$0	$695.0M
Repayment of revolving credit agreement borrowings	-$90.0M	-$110.0M	-$495.0M
Awards effectively repurchased for required employee withholding taxes	-$16.0M	-$28.0M	-$30.0M
Dividends paid	-$52.0M	-$37.0M	$0
Net cash used in financing activities	-$49.0M	-$207.0M	-$540.0M
Effect of exchange rate changes on cash and cash equivalents	$0	$0	$0
Net increase (decrease) in cash and cash equivalents, unrestricted and restricted	$211.0M	$225.0M	-$71.0M
Interest paid	$52.0M	$59.0M	$25.0M
Income taxes paid, net	$27.0M	$76.0M	$114.0M
Payable for purchase of property and equipment	$3.0M	$2.0M	$4.0M
Receivable from sale of business	$6.0M	$0	$0

Compare Telenet group with another company

Products and brands

cable television

Listed on Wikidata.¹

In January 2008, Telenet acquired Hostbasket, Belgium's largest hosting company, to offer services appropriate for organisations and companies. Hostbasket offers "classic hosting" (domain names, shared webhosting, online backup, antivirus), infrastructure (dedicated servers, co-location) and applications (hosted Exchange, hosted SharePoint, hosted CRM).

From Wikipedia’s article on Telenet Group, shared under CC BY-SA 4.0.⁴

Subsidiaries and ownership

Owners

Liberty Global

Subsidiaries

BASE
Eltrona
Numericable Belux
Play Media

From Wikidata.¹

Acquisitions

Apr 2015Acquired BASE¹

In December 2022, it was announced Telenet has acquired the Luxembourgish telecommunications company, Eltrona. It was the first time Telenet had taken full control of a telecommunications company outside of Belgium.