I.T.S.: 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.S.
Largest movements
- Receivables within one year -€60,578
down €60,578 (-29.3%), from €206,670 to €146,092
of which Other amounts receivable: -€72,489
- Tangible fixed assets -€23,445
down €23,445 (-8.7%), from €269,178 to €245,733
of which Plant, machinery and equipment: -€19,178
- Reserves -€34,665
down €34,665 (-56.0%), from €61,940 to €27,276
of which Non-distributable reserves: -€20,000
- Tax, wage and social debts -€17,881
down €17,881 (-82.1%), from €21,770 to €3,889
- Debts after one year -€16,133
down €16,133 (-12.6%), from €128,450 to €112,317
- Other debts -€9,561
down €9,561 (-7.6%), from €125,437 to €115,876
- Provisions -€4,888
down €4,888 (-47.1%), from €10,380 to €5,492
- Gross operating margin -€23,945
down €23,945 (-24.2%), from €99,082 to €75,138
- Taxes -€6,963
down €6,963 (-40.7%), from €17,101 to €10,137
- Write-downs +€3,465
new in 2025: €3,465
- Financial charges +€2,135
up €2,135 (+35.6%), from €5,992 to €8,127
- Financial income +€1,196
up €1,196 (+19.3%), from €6,184 to €7,380
of which Financial income: +€978
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 | €480,308 | €395,197 | -€85,112 | -17.7% |
| Fixed assets | 21/28 | €269,178 | €245,733 | -€23,445 | -8.7% |
| Tangible fixed assets | 22/27 | €269,178 | €245,733 | -€23,445 | -8.7% |
| Land and buildings | 22 | €167,790 | €164,220 | -€3,570 | -2.1% |
| Plant, machinery and equipment | 23 | €100,256 | €81,078 | -€19,178 | -19.1% |
| Furniture and vehicles | 24 | €1,132 | €435 | -€697 | -61.6% |
| Current assets | 29/58 | €211,130 | €149,464 | -€61,667 | -29.2% |
| Amounts receivable within one year | 40/41 | €206,670 | €146,092 | -€60,578 | -29.3% |
| Trade receivables | 40 | €3,441 | €15,353 | +€11,912 | +346% |
| Other amounts receivable | 41 | €203,229 | €130,739 | -€72,489 | -35.7% |
| Cash at bank and in hand | 54/58 | €108 | €1 | -€106 | -98.8% |
| Deferred charges and accrued income | 490/1 | €4,353 | €3,370 | -€983 | -22.6% |
| Total equity and liabilities | 10/49 | €480,308 | €395,197 | -€85,112 | -17.7% |
| Equity | 10/15 | €161,940 | €127,867 | -€34,073 | -21.0% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €61,940 | €27,276 | -€34,665 | -56.0% |
| Non-distributable reserves | 130/1 | €30,800 | €10,800 | -€20,000 | -64.9% |
| Legal reserve | 130 | €30,800 | €10,800 | -€20,000 | -64.9% |
| Tax-exempt reserves | 132 | €31,140 | €16,476 | -€14,665 | -47.1% |
| Profit (loss) carried forward | 14 | - | €592 | +€592 | |
| Provisions and deferred taxes | 16 | €10,380 | €5,492 | -€4,888 | -47.1% |
| Deferred taxes | 168 | €10,380 | €5,492 | -€4,888 | -47.1% |
| Amounts payable | 17/49 | €307,988 | €261,838 | -€46,151 | -15.0% |
| Amounts payable after more than one year | 17 | €128,450 | €112,317 | -€16,133 | -12.6% |
| Financial debts | 170/4 | €128,450 | €112,317 | -€16,133 | -12.6% |
| Amounts payable within one year | 42/48 | €179,426 | €149,521 | -€29,906 | -16.7% |
| Current portion of amounts payable after more than one year | 42 | €15,785 | €16,133 | +€348 | +2.2% |
| Financial debts | 43 | €4,065 | €1,896 | -€2,170 | -53.4% |
| Credit institutions | 430/8 | €4,065 | €1,896 | -€2,170 | -53.4% |
| Trade debts | 44 | €12,368 | €9,714 | -€2,654 | -21.5% |
| Suppliers | 440/4 | €12,368 | €9,714 | -€2,654 | -21.5% |
| Advances received on contracts in progress | 46 | - | €2,012 | +€2,012 | |
| Taxes, remuneration and social security | 45 | €21,770 | €3,889 | -€17,881 | -82.1% |
| Taxes | 450/3 | €21,770 | €3,889 | -€17,881 | -82.1% |
| Other amounts payable | 47/48 | €125,437 | €115,876 | -€9,561 | -7.6% |
| Accrued charges and deferred income | 492/3 | €112 | - | -€112 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,942 | €36,260 | +€318 | +0.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €3,465 | +€3,465 | |
| Other operating charges | 640/8 | €13,143 | €12,806 | -€337 | -2.6% |
| Gross operating margin | 9900 | €99,082 | €75,138 | -€23,945 | -24.2% |
| Operating profit (loss) | 9901 | €49,998 | €22,607 | -€27,391 | -54.8% |
| Financial income | 75/76B | €6,184 | €7,380 | +€1,196 | +19.3% |
| Recurring financial income | 75 | €6,184 | €7,162 | +€978 | +15.8% |
| Non-recurring financial income | 76B | - | €218 | +€218 | |
| Financial charges | 65/66B | €5,992 | €8,127 | +€2,135 | +35.6% |
| Recurring financial charges | 65 | €5,992 | €8,127 | +€2,135 | +35.6% |
| Profit (loss) for the period before taxes | 9903 | €50,191 | €21,860 | -€28,330 | -56.4% |
| Transfer from deferred taxes | 780 | €4,888 | €4,888 | = | 0.0% |
| Income taxes | 67/77 | €17,101 | €10,137 | -€6,963 | -40.7% |
| Profit (loss) for the period | 9904 | €37,978 | €16,611 | -€21,367 | -56.3% |
| Transfer from tax-exempt reserves | 789 | €14,665 | €14,665 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €52,643 | €31,276 | -€21,367 | -40.6% |
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 27 October 2026 via checked.be.