I.T.M.: 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.M.
Largest movements
- Tangible fixed assets -€16,933
down €16,933 (-23.1%), from €73,212 to €56,279
of which Leasing and similar rights: -€18,314
- Receivables within one year +€16,364
up €16,364 (+20.1%), from €81,384 to €97,748
of which Trade receivables: +€24,522
- Stocks and contracts +€10,519
up €10,519 (+11.4%), from €92,129 to €102,648
of which Contracts in progress: +€11,020
- Deferred charges and accrued income +€4,243
up €4,243 (+74.4%), from €5,700 to €9,944
- Tax, wage and social debts +€15,681
up €15,681 (+59.9%), from €26,190 to €41,872
of which Taxes: +€9,852
- Debts after one year -€14,555
down €14,555 (-49.1%), from €29,660 to €15,105
- Other debts +€8,020
up €8,020 (+40,099,900%), from €0 to €8,020
- Short-term financial debts +€4,877
up €4,877 (+11.2%), from €43,663 to €48,540
- Current portion of long-term debt -€4,524
down €4,524 (-17.3%), from €26,156 to €21,632
- Staff costs +€81,083
up €81,083 (+56.4%), from €143,747 to €224,830
- Gross operating margin +€79,236
up €79,236 (+43.3%), from €183,129 to €262,365
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €254,444 | €267,536 | +€13,092 | +5.1% |
| Fixed assets | 21/28 | €75,231 | €57,197 | -€18,033 | -24.0% |
| Intangible fixed assets | 21 | €2,019 | €919 | -€1,100 | -54.5% |
| Tangible fixed assets | 22/27 | €73,212 | €56,279 | -€16,933 | -23.1% |
| Plant, machinery and equipment | 23 | €10,690 | €13,989 | +€3,299 | +30.9% |
| Furniture and vehicles | 24 | €2,367 | €449 | -€1,918 | -81.0% |
| Leasing and similar rights | 25 | €60,155 | €41,841 | -€18,314 | -30.4% |
| Current assets | 29/58 | €179,213 | €210,339 | +€31,126 | +17.4% |
| Stocks and contracts in progress | 3 | €92,129 | €102,648 | +€10,519 | +11.4% |
| Stocks | 30/36 | €38,649 | €38,148 | -€501 | -1.3% |
| Contracts in progress | 37 | €53,480 | €64,500 | +€11,020 | +20.6% |
| Amounts receivable within one year | 40/41 | €81,384 | €97,748 | +€16,364 | +20.1% |
| Trade receivables | 40 | €72,989 | €97,511 | +€24,522 | +33.6% |
| Other amounts receivable | 41 | €8,395 | €237 | -€8,159 | -97.2% |
| Deferred charges and accrued income | 490/1 | €5,700 | €9,944 | +€4,243 | +74.4% |
| Total equity and liabilities | 10/49 | €254,444 | €267,536 | +€13,092 | +5.1% |
| Equity | 10/15 | €64,225 | €65,226 | +€1,002 | +1.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €45,625 | €46,626 | +€1,002 | +2.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €9,151 | €9,151 | = | 0.0% |
| Distributable reserves | 133 | €34,613 | €35,615 | +€1,002 | +2.9% |
| Amounts payable | 17/49 | €190,219 | €202,310 | +€12,091 | +6.4% |
| Amounts payable after more than one year | 17 | €29,660 | €15,105 | -€14,555 | -49.1% |
| Financial debts | 170/4 | €29,660 | €15,105 | -€14,555 | -49.1% |
| Amounts payable within one year | 42/48 | €160,559 | €187,205 | +€26,646 | +16.6% |
| Current portion of amounts payable after more than one year | 42 | €26,156 | €21,632 | -€4,524 | -17.3% |
| Financial debts | 43 | €43,663 | €48,540 | +€4,877 | +11.2% |
| Credit institutions | 430/8 | €43,663 | €48,540 | +€4,877 | +11.2% |
| Trade debts | 44 | €64,326 | €67,142 | +€2,816 | +4.4% |
| Suppliers | 440/4 | €64,326 | €67,142 | +€2,816 | +4.4% |
| Advances received on contracts in progress | 46 | €224 | - | -€224 | |
| Taxes, remuneration and social security | 45 | €26,190 | €41,872 | +€15,681 | +59.9% |
| Taxes | 450/3 | €4,883 | €14,735 | +€9,852 | +202% |
| Remuneration and social security | 454/9 | €21,308 | €27,137 | +€5,829 | +27.4% |
| Other amounts payable | 47/48 | €0 | €8,020 | +€8,020 | +40,099,900% |
| Remuneration, social security and pensions | 62 | €143,747 | €224,830 | +€81,083 | +56.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,771 | €24,445 | -€327 | -1.3% |
| Other operating charges | 640/8 | €2,463 | €2,633 | +€170 | +6.9% |
| Non-recurring operating charges | 66A | - | €289 | +€289 | |
| Gross operating margin | 9900 | €183,129 | €262,365 | +€79,236 | +43.3% |
| Operating profit (loss) | 9901 | €12,148 | €10,169 | -€1,979 | -16.3% |
| Financial income | 75/76B | €851 | €601 | -€250 | -29.4% |
| Recurring financial income | 75 | €851 | €601 | -€250 | -29.4% |
| Financial charges | 65/66B | €8,414 | €8,039 | -€375 | -4.5% |
| Recurring financial charges | 65 | €8,414 | €8,039 | -€375 | -4.5% |
| Profit (loss) for the period before taxes | 9903 | €4,585 | €2,731 | -€1,854 | -40.4% |
| Income taxes | 67/77 | €1,497 | €1,729 | +€232 | +15.5% |
| Profit (loss) for the period | 9904 | €3,088 | €1,002 | -€2,086 | -67.6% |
| Profit (loss) for the period to be appropriated | 9905 | €3,088 | €1,002 | -€2,086 | -67.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.