IRT: 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.
IRT
Largest movements
- Cash +€32,932
up €32,932 (+20.2%), from €162,799 to €195,731
mainly Net result for the year (+€102,675) and Other debts (+€36,827)
- Tangible fixed assets +€20,843
up €20,843 (+13.6%), from €153,437 to €174,279
of which Furniture and vehicles: +€20,566
- Receivables within one year +€19,925
up €19,925 (+17.8%), from €112,160 to €132,085
of which Trade receivables: +€17,693
- Reserves +€37,872
up €37,872 (+14.4%), from €262,941 to €300,813
of which Distributable reserves: +€37,872
- Other debts +€36,827
up €36,827 (+852%), from €4,321 to €41,148
- Trade debts +€32,798
up €32,798 (+4,816%), from €681 to €33,479
- Tax, wage and social debts -€22,682
down €22,682 (-44.3%), from €51,153 to €28,472
- Current portion of long-term debt -€13,349
no longer reported in 2025 (was €13,349)
- Depreciation +€2,221
up €2,221 (+20.0%), from €11,124 to €13,345
- Financial charges +€1,999
up €1,999 (+233%), from €857 to €2,857
- Taxes -€1,725
down €1,725 (-3.5%), from €49,729 to €48,003
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 | €431,610 | €503,076 | +€71,467 | +16.6% |
| Fixed assets | 21/28 | €153,437 | €174,279 | +€20,843 | +13.6% |
| Tangible fixed assets | 22/27 | €153,437 | €174,279 | +€20,843 | +13.6% |
| Land and buildings | 22 | €142,642 | €136,031 | -€6,610 | -4.6% |
| Furniture and vehicles | 24 | €10,795 | €31,362 | +€20,566 | +191% |
| Other tangible fixed assets | 26 | - | €6,886 | +€6,886 | |
| Current assets | 29/58 | €278,173 | €328,797 | +€50,624 | +18.2% |
| Amounts receivable within one year | 40/41 | €112,160 | €132,085 | +€19,925 | +17.8% |
| Trade receivables | 40 | €112,160 | €129,853 | +€17,693 | +15.8% |
| Other amounts receivable | 41 | - | €2,232 | +€2,232 | |
| Cash at bank and in hand | 54/58 | €162,799 | €195,731 | +€32,932 | +20.2% |
| Deferred charges and accrued income | 490/1 | €3,214 | €981 | -€2,233 | -69.5% |
| Total equity and liabilities | 10/49 | €431,610 | €503,076 | +€71,467 | +16.6% |
| Equity | 10/15 | €362,106 | €399,978 | +€37,872 | +10.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €262,941 | €300,813 | +€37,872 | +14.4% |
| Tax-exempt reserves | 132 | €13,099 | €13,099 | = | 0.0% |
| Distributable reserves | 133 | €249,842 | €287,714 | +€37,872 | +15.2% |
| Profit (loss) carried forward | 14 | €92,965 | €92,965 | = | 0.0% |
| Amounts payable | 17/49 | €69,504 | €103,098 | +€33,595 | +48.3% |
| Amounts payable within one year | 42/48 | €69,504 | €103,098 | +€33,595 | +48.3% |
| Current portion of amounts payable after more than one year | 42 | €13,349 | - | -€13,349 | |
| Trade debts | 44 | €681 | €33,479 | +€32,798 | +4,816% |
| Suppliers | 440/4 | €681 | €33,479 | +€32,798 | +4,816% |
| Taxes, remuneration and social security | 45 | €51,153 | €28,472 | -€22,682 | -44.3% |
| Taxes | 450/3 | €51,153 | €28,472 | -€22,682 | -44.3% |
| Other amounts payable | 47/48 | €4,321 | €41,148 | +€36,827 | +852% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,124 | €13,345 | +€2,221 | +20.0% |
| Other operating charges | 640/8 | €2,516 | €1,935 | -€581 | -23.1% |
| Gross operating margin | 9900 | €169,487 | €167,898 | -€1,589 | -0.9% |
| Operating profit (loss) | 9901 | €155,847 | €152,618 | -€3,230 | -2.1% |
| Financial income | 75/76B | €363 | €917 | +€554 | +153% |
| Recurring financial income | 75 | €363 | €917 | +€554 | +153% |
| Financial charges | 65/66B | €857 | €2,857 | +€1,999 | +233% |
| Recurring financial charges | 65 | €857 | €2,857 | +€1,999 | +233% |
| Profit (loss) for the period before taxes | 9903 | €155,353 | €150,678 | -€4,675 | -3.0% |
| Income taxes | 67/77 | €49,729 | €48,003 | -€1,725 | -3.5% |
| Profit (loss) for the period | 9904 | €105,624 | €102,675 | -€2,949 | -2.8% |
| Profit (loss) for the period to be appropriated | 9905 | €105,624 | €102,675 | -€2,949 | -2.8% |
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 19 October 2026 via checked.be.