2M-ITC: 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.
2M-ITC
Largest movements
- Receivables within one year +€57,413
up €57,413 (+85.1%), from €67,501 to €124,915
of which Trade receivables: +€73,856
- Cash +€32,549
up €32,549 (+42.2%), from €77,163 to €109,712
mainly Net result for the year (+€79,047) and Other debts (+€42,110)
- Tangible fixed assets -€2,692
down €2,692 (-25.4%), from €10,614 to €7,922
- Other debts +€42,110
up €42,110 (+168%), from €25,000 to €67,110
- Tax, wage and social debts +€30,705
up €30,705 (+72.4%), from €42,388 to €73,093
- Trade debts +€8,637
up €8,637 (+102%), from €8,438 to €17,075
- Profit (loss) carried forward +€8,459
up €8,459 (+29.4%), from €28,814 to €37,273
- Gross operating margin +€54,924
up €54,924 (+84.1%), from €65,306 to €120,230
- Taxes +€15,149
up €15,149 (+126%), from €11,996 to €27,144
- Depreciation +€8,681
up €8,681 (+244%), from €3,552 to €12,233
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 | €155,279 | €243,049 | +€87,770 | +56.5% |
| Fixed assets | 21/28 | €10,614 | €8,422 | -€2,192 | -20.7% |
| Tangible fixed assets | 22/27 | €10,614 | €7,922 | -€2,692 | -25.4% |
| Plant, machinery and equipment | 23 | €4,657 | €3,550 | -€1,107 | -23.8% |
| Furniture and vehicles | 24 | €1,649 | €1,086 | -€564 | -34.2% |
| Other tangible fixed assets | 26 | €4,308 | €3,286 | -€1,022 | -23.7% |
| Financial fixed assets | 28 | - | €500 | +€500 | |
| Current assets | 29/58 | €144,665 | €234,627 | +€89,962 | +62.2% |
| Stocks and contracts in progress | 3 | - | €0 | = | |
| Contracts in progress | 37 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | €67,501 | €124,915 | +€57,413 | +85.1% |
| Trade receivables | 40 | €51,058 | €124,915 | +€73,856 | +145% |
| Other amounts receivable | 41 | €16,443 | - | -€16,443 | |
| Cash at bank and in hand | 54/58 | €77,163 | €109,712 | +€32,549 | +42.2% |
| Total equity and liabilities | 10/49 | €155,279 | €243,049 | +€87,770 | +56.5% |
| Equity | 10/15 | €28,814 | €37,273 | +€8,459 | +29.4% |
| Profit (loss) carried forward | 14 | €28,814 | €37,273 | +€8,459 | +29.4% |
| Amounts payable | 17/49 | €126,465 | €205,775 | +€79,310 | +62.7% |
| Amounts payable within one year | 42/48 | €78,522 | €159,405 | +€80,883 | +103% |
| Trade debts | 44 | €8,438 | €17,075 | +€8,637 | +102% |
| Suppliers | 440/4 | €8,438 | €17,075 | +€8,637 | +102% |
| Advances received on contracts in progress | 46 | €2,696 | €2,126 | -€569 | -21.1% |
| Taxes, remuneration and social security | 45 | €42,388 | €73,093 | +€30,705 | +72.4% |
| Taxes | 450/3 | €42,388 | €73,093 | +€30,705 | +72.4% |
| Other amounts payable | 47/48 | €25,000 | €67,110 | +€42,110 | +168% |
| Accrued charges and deferred income | 492/3 | €47,943 | €46,371 | -€1,573 | -3.3% |
| Non-recurring operating income | 76A | €6,705 | - | -€6,705 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,552 | €12,233 | +€8,681 | +244% |
| Other operating charges | 640/8 | €673 | €596 | -€77 | -11.4% |
| Gross operating margin | 9900 | €65,306 | €120,230 | +€54,924 | +84.1% |
| Operating profit (loss) | 9901 | €61,082 | €107,401 | +€46,319 | +75.8% |
| Financial income | 75/76B | €509 | €1 | -€508 | -99.8% |
| Recurring financial income | 75 | €509 | €1 | -€508 | -99.8% |
| Financial charges | 65/66B | €1,731 | €1,210 | -€520 | -30.1% |
| Recurring financial charges | 65 | €575 | €1,210 | +€635 | +110% |
| Non-recurring financial charges | 66B | €1,156 | - | -€1,156 | |
| Profit (loss) for the period before taxes | 9903 | €59,860 | €106,192 | +€46,331 | +77.4% |
| Income taxes | 67/77 | €11,996 | €27,144 | +€15,149 | +126% |
| Profit (loss) for the period | 9904 | €47,865 | €79,047 | +€31,183 | +65.1% |
| Profit (loss) for the period to be appropriated | 9905 | €47,865 | €79,047 | +€31,183 | +65.1% |
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 26 October 2026 via checked.be.