I'TM: 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'TM
Largest movements
- Cash -€49,347
down €49,347 (-78.0%), from €63,301 to €13,954
mainly Debts after one year (-€24,995) and Net result for the year (-€22,259)
- Tangible fixed assets -€15,982
down €15,982 (-11.6%), from €137,578 to €121,595
of which Land and buildings: -€14,579
- Receivables within one year +€9,703
up €9,703 (+10.9%), from €88,926 to €98,629
of which Other amounts receivable: +€14,958
- Debts after one year -€24,995
down €24,995 (-29.9%), from €83,677 to €58,681
- Profit (loss) carried forward -€22,259
new in 2025: -€22,259
- Tax, wage and social debts -€10,556
down €10,556 (-89.3%), from €11,828 to €1,271
- Gross operating margin -€45,051
down €45,051, from €41,927 to -€3,125
- Taxes -€3,147
down €3,147 (-100%), from €3,147 to €0
- Financial charges -€1,104
down €1,104 (-17.6%), from €6,284 to €5,180
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 | €300,989 | €245,335 | -€55,653 | -18.5% |
| Fixed assets | 21/28 | €142,228 | €126,245 | -€15,982 | -11.2% |
| Tangible fixed assets | 22/27 | €137,578 | €121,595 | -€15,982 | -11.6% |
| Land and buildings | 22 | €135,554 | €120,975 | -€14,579 | -10.8% |
| Plant, machinery and equipment | 23 | €1,008 | €475 | -€533 | -52.9% |
| Furniture and vehicles | 24 | €1,016 | €145 | -€871 | -85.7% |
| Financial fixed assets | 28 | €4,650 | €4,650 | = | 0.0% |
| Current assets | 29/58 | €158,761 | €119,090 | -€39,671 | -25.0% |
| Stocks and contracts in progress | 3 | €5,588 | €5,588 | = | 0.0% |
| Stocks | 30/36 | €5,588 | €5,588 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €88,926 | €98,629 | +€9,703 | +10.9% |
| Trade receivables | 40 | €13,805 | €8,550 | -€5,255 | -38.1% |
| Other amounts receivable | 41 | €75,121 | €90,079 | +€14,958 | +19.9% |
| Cash at bank and in hand | 54/58 | €63,301 | €13,954 | -€49,347 | -78.0% |
| Deferred charges and accrued income | 490/1 | €946 | €919 | -€27 | -2.8% |
| Total equity and liabilities | 10/49 | €300,989 | €245,335 | -€55,653 | -18.5% |
| Equity | 10/15 | €180,944 | €158,685 | -€22,259 | -12.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €168,544 | €168,544 | = | 0.0% |
| Distributable reserves | 133 | €168,544 | €168,544 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€22,259 | -€22,259 | |
| Amounts payable | 17/49 | €120,045 | €86,651 | -€33,394 | -27.8% |
| Amounts payable after more than one year | 17 | €83,677 | €58,681 | -€24,995 | -29.9% |
| Financial debts | 170/4 | €83,677 | €58,681 | -€24,995 | -29.9% |
| Amounts payable within one year | 42/48 | €36,368 | €27,969 | -€8,399 | -23.1% |
| Current portion of amounts payable after more than one year | 42 | €23,765 | €24,995 | +€1,231 | +5.2% |
| Financial debts | 43 | €0 | €77 | +€77 | |
| Credit institutions | 430/8 | €0 | €77 | +€77 | |
| Trade debts | 44 | €776 | €1,626 | +€850 | +110% |
| Suppliers | 440/4 | €776 | €1,626 | +€850 | +110% |
| Taxes, remuneration and social security | 45 | €11,828 | €1,271 | -€10,556 | -89.3% |
| Taxes | 450/3 | €11,828 | €1,271 | -€10,556 | -89.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,982 | €15,982 | +€0 | 0.0% |
| Other operating charges | 640/8 | €2,190 | €2,192 | +€2 | +0.1% |
| Gross operating margin | 9900 | €41,927 | -€3,125 | -€45,051 | |
| Operating profit (loss) | 9901 | €23,754 | -€21,299 | -€45,053 | |
| Financial income | 75/76B | €4,389 | €4,220 | -€169 | -3.9% |
| Recurring financial income | 75 | €4,389 | €4,220 | -€169 | -3.9% |
| Financial charges | 65/66B | €6,284 | €5,180 | -€1,104 | -17.6% |
| Recurring financial charges | 65 | €6,284 | €5,180 | -€1,104 | -17.6% |
| Profit (loss) for the period before taxes | 9903 | €21,859 | -€22,259 | -€44,118 | |
| Income taxes | 67/77 | €3,147 | €0 | -€3,147 | -100% |
| Profit (loss) for the period | 9904 | €18,712 | -€22,259 | -€40,971 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,712 | -€22,259 | -€40,971 |
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 17 October 2026 via checked.be.