I.T.D.: 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.
I.T.D.
Largest movements
- Tangible fixed assets -€61,103
down €61,103 (-9.9%), from €617,562 to €556,460
of which Land and buildings: -€59,393
- Current investments -€38,507
down €38,507 (-54.5%), from €70,607 to €32,100
- Cash -€34,761
down €34,761 (-62.7%), from €55,417 to €20,656
mainly Debts after one year (-€93,566) and Receivables within one year (-€23,107)
- Receivables within one year +€23,107
up €23,107 (+2.5%), from €929,121 to €952,227
- Debts after one year -€93,566
down €93,566 (-14.3%), from €655,330 to €561,763
- Gross operating margin -€57,098
down €57,098 (-47.1%), from €121,239 to €64,141
- Other operating charges -€2,573
down €2,573 (-22.6%), from €11,377 to €8,804
- Financial charges -€1,838
down €1,838 (-10.3%), from €17,890 to €16,052
- Taxes -€1,527
down €1,527 (-93.1%), from €1,640 to €113
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 | €2,164,782 | €2,052,959 | -€111,823 | -5.2% |
| Fixed assets | 21/28 | €1,109,078 | €1,047,975 | -€61,103 | -5.5% |
| Tangible fixed assets | 22/27 | €617,562 | €556,460 | -€61,103 | -9.9% |
| Land and buildings | 22 | €606,794 | €547,401 | -€59,393 | -9.8% |
| Furniture and vehicles | 24 | €10,768 | €9,058 | -€1,710 | -15.9% |
| Financial fixed assets | 28 | €491,516 | €491,516 | = | 0.0% |
| Current assets | 29/58 | €1,055,704 | €1,004,983 | -€50,721 | -4.8% |
| Amounts receivable within one year | 40/41 | €929,121 | €952,227 | +€23,107 | +2.5% |
| Other amounts receivable | 41 | €929,121 | €952,227 | +€23,107 | +2.5% |
| Current investments | 50/53 | €70,607 | €32,100 | -€38,507 | -54.5% |
| Cash at bank and in hand | 54/58 | €55,417 | €20,656 | -€34,761 | -62.7% |
| Deferred charges and accrued income | 490/1 | €559 | - | -€559 | |
| Total equity and liabilities | 10/49 | €2,164,782 | €2,052,959 | -€111,823 | -5.2% |
| Equity | 10/15 | €1,252,345 | €1,234,133 | -€18,213 | -1.5% |
| Contributions | 10/11 | €6,469 | €6,469 | = | 0.0% |
| Reserves | 13 | €764,686 | €743,564 | -€21,122 | -2.8% |
| Non-distributable reserves | 130/1 | €83,063 | €83,063 | = | 0.0% |
| Reserves not available under the articles | 1311 | €83,063 | €83,063 | = | 0.0% |
| Tax-exempt reserves | 132 | €631,913 | €610,791 | -€21,122 | -3.3% |
| Distributable reserves | 133 | €49,711 | €49,711 | = | 0.0% |
| Profit (loss) carried forward | 14 | €481,190 | €484,099 | +€2,909 | +0.6% |
| Provisions and deferred taxes | 16 | €93,971 | €86,930 | -€7,041 | -7.5% |
| Deferred taxes | 168 | €93,971 | €86,930 | -€7,041 | -7.5% |
| Amounts payable | 17/49 | €818,466 | €731,895 | -€86,570 | -10.6% |
| Amounts payable after more than one year | 17 | €655,330 | €561,763 | -€93,566 | -14.3% |
| Financial debts | 170/4 | €655,330 | €561,763 | -€93,566 | -14.3% |
| Amounts payable within one year | 42/48 | €162,036 | €170,132 | +€8,096 | +5.0% |
| Current portion of amounts payable after more than one year | 42 | €91,541 | €93,566 | +€2,025 | +2.2% |
| Trade debts | 44 | €5,034 | €7,620 | +€2,586 | +51.4% |
| Suppliers | 440/4 | €5,034 | €7,620 | +€2,586 | +51.4% |
| Other amounts payable | 47/48 | €65,461 | €68,946 | +€3,485 | +5.3% |
| Accrued charges and deferred income | 492/3 | €1,100 | - | -€1,100 | |
| Remuneration, social security and pensions | 62 | €33 | €258 | +€225 | +679% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,030 | €64,544 | -€486 | -0.7% |
| Other operating charges | 640/8 | €11,377 | €8,804 | -€2,573 | -22.6% |
| Gross operating margin | 9900 | €121,239 | €64,141 | -€57,098 | -47.1% |
| Operating profit (loss) | 9901 | €44,799 | -€9,465 | -€54,264 | |
| Financial income | 75/76B | €588 | €377 | -€211 | -35.8% |
| Recurring financial income | 75 | €588 | €377 | -€211 | -35.8% |
| Financial charges | 65/66B | €17,890 | €16,052 | -€1,838 | -10.3% |
| Recurring financial charges | 65 | €17,890 | €16,052 | -€1,838 | -10.3% |
| Profit (loss) for the period before taxes | 9903 | €27,496 | -€25,140 | -€52,636 | |
| Transfer from deferred taxes | 780 | €6,202 | €7,041 | +€839 | +13.5% |
| Income taxes | 67/77 | €1,640 | €113 | -€1,527 | -93.1% |
| Profit (loss) for the period | 9904 | €32,058 | -€18,213 | -€50,271 | |
| Transfer from tax-exempt reserves | 789 | €18,606 | €21,122 | +€2,516 | +13.5% |
| Profit (loss) for the period to be appropriated | 9905 | €50,664 | €2,909 | -€47,755 | -94.3% |
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 16 October 2026 via checked.be.