I-TEO: 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-TEO
Largest movements
- Tangible fixed assets +€58,272
up €58,272 (+157%), from €37,233 to €95,505
of which Furniture and vehicles: +€61,964
- Receivables within one year -€20,000
down €20,000 (-42.1%), from €47,512 to €27,512
of which Other amounts receivable: -€20,000
- Debts after one year +€49,516
up €49,516 (+30.9%), from €160,000 to €209,516
- Other debts -€16,505
down €16,505 (-29.3%), from €56,278 to €39,773
- Gross operating margin +€6,058
up €6,058 (+49.8%), from €12,177 to €18,235
- Depreciation +€5,711
up €5,711 (+117%), from €4,900 to €10,611
- Financial charges -€1,427
down €1,427 (-17.7%), from €8,043 to €6,616
- Other operating charges +€1,101
up €1,101 (+94.9%), from €1,161 to €2,262
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 | €1,505,116 | €1,543,147 | +€38,032 | +2.5% |
| Fixed assets | 21/28 | €1,449,758 | €1,508,030 | +€58,272 | +4.0% |
| Tangible fixed assets | 22/27 | €37,233 | €95,505 | +€58,272 | +157% |
| Plant, machinery and equipment | 23 | €6,406 | €4,535 | -€1,871 | -29.2% |
| Furniture and vehicles | 24 | €2,151 | €64,116 | +€61,964 | +2,880% |
| Other tangible fixed assets | 26 | €28,676 | €26,854 | -€1,821 | -6.4% |
| Financial fixed assets | 28 | €1,412,525 | €1,412,525 | = | 0.0% |
| Current assets | 29/58 | €55,358 | €35,117 | -€20,241 | -36.6% |
| Amounts receivable within one year | 40/41 | €47,512 | €27,512 | -€20,000 | -42.1% |
| Trade receivables | 40 | €0 | €0 | = | |
| Other amounts receivable | 41 | €47,512 | €27,512 | -€20,000 | -42.1% |
| Cash at bank and in hand | 54/58 | €5,467 | €4,840 | -€626 | -11.5% |
| Deferred charges and accrued income | 490/1 | €2,379 | €2,765 | +€386 | +16.2% |
| Total equity and liabilities | 10/49 | €1,505,116 | €1,543,147 | +€38,032 | +2.5% |
| Equity | 10/15 | €1,270,106 | €1,268,840 | -€1,265 | -0.1% |
| Contributions | 10/11 | €146,200 | €146,200 | = | 0.0% |
| Reserves | 13 | €26,190 | €26,190 | = | 0.0% |
| Distributable reserves | 133 | €26,190 | €26,190 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,097,716 | €1,096,450 | -€1,265 | -0.1% |
| Amounts payable | 17/49 | €235,010 | €274,307 | +€39,297 | +16.7% |
| Amounts payable after more than one year | 17 | €160,000 | €209,516 | +€49,516 | +30.9% |
| Financial debts | 170/4 | €160,000 | €209,516 | +€49,516 | +30.9% |
| Amounts payable within one year | 42/48 | €75,010 | €64,791 | -€10,219 | -13.6% |
| Current portion of amounts payable after more than one year | 42 | - | €12,979 | +€12,979 | |
| Trade debts | 44 | €9,929 | €2,105 | -€7,824 | -78.8% |
| Suppliers | 440/4 | €9,929 | €2,105 | -€7,824 | -78.8% |
| Taxes, remuneration and social security | 45 | €8,803 | €9,934 | +€1,131 | +12.8% |
| Taxes | 450/3 | €8,803 | €5,334 | -€3,469 | -39.4% |
| Remuneration and social security | 454/9 | €0 | €4,600 | +€4,600 | |
| Other amounts payable | 47/48 | €56,278 | €39,773 | -€16,505 | -29.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,900 | €10,611 | +€5,711 | +117% |
| Other operating charges | 640/8 | €1,161 | €2,262 | +€1,101 | +94.9% |
| Gross operating margin | 9900 | €12,177 | €18,235 | +€6,058 | +49.8% |
| Operating profit (loss) | 9901 | €6,116 | €5,362 | -€754 | -12.3% |
| Financial income | 75/76B | €2 | €1 | -€1 | -48.1% |
| Recurring financial income | 75 | €2 | €1 | -€1 | -48.1% |
| Financial charges | 65/66B | €8,043 | €6,616 | -€1,427 | -17.7% |
| Recurring financial charges | 65 | €8,043 | €6,616 | -€1,427 | -17.7% |
| Profit (loss) for the period before taxes | 9903 | -€1,925 | -€1,253 | +€672 | +34.9% |
| Income taxes | 67/77 | -€90 | €12 | +€102 | |
| Profit (loss) for the period | 9904 | -€1,835 | -€1,265 | +€570 | +31.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,835 | -€1,265 | +€570 | +31.1% |
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 13 October 2026 via checked.be.