Itabel: what changed
Two fiscal 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.
Itabel
Largest movements
- Current investments -€50,000
down €50,000 (-5.9%), from €850,000 to €800,000
- Cash +€45,017
up €45,017 (+24.7%), from €182,371 to €227,388
mainly Net result for the year (+€102,240) and Current investments (+€50,000)
- Tangible fixed assets -€28,752
down €28,752 (-14.1%), from €203,543 to €174,791
of which Land and buildings: -€18,794
- Other debts -€121,094
down €121,094 (-51.6%), from €234,461 to €113,367
- Reserves +€100,580
up €100,580 (+11.9%), from €846,388 to €946,968
- Gross operating margin +€49,947
up €49,947 (+36.7%), from €136,242 to €186,189
- Financial income -€22,016
down €22,016 (-67.9%), from €32,420 to €10,404
- Taxes +€10,744
up €10,744 (+29.2%), from €36,784 to €47,528
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.
Cash bridge derived
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 | €1,239,878 | €1,206,049 | -€33,829 | -2.7% |
| Fixed assets | 21/28 | €204,043 | €175,291 | -€28,752 | -14.1% |
| Tangible fixed assets | 22/27 | €203,543 | €174,791 | -€28,752 | -14.1% |
| Land and buildings | 22 | €184,456 | €165,662 | -€18,794 | -10.2% |
| Plant, machinery and equipment | 23 | €1,755 | €1,140 | -€615 | -35.0% |
| Furniture and vehicles | 24 | €17,333 | €7,989 | -€9,344 | -53.9% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €1,035,835 | €1,030,758 | -€5,077 | -0.5% |
| Stocks and contracts in progress | 3 | €338 | - | -€338 | |
| Stocks | 30/36 | €338 | - | -€338 | |
| Current investments | 50/53 | €850,000 | €800,000 | -€50,000 | -5.9% |
| Cash at bank and in hand | 54/58 | €182,371 | €227,388 | +€45,017 | +24.7% |
| Deferred charges and accrued income | 490/1 | €3,126 | €3,370 | +€244 | +7.8% |
| Total equity and liabilities | 10/49 | €1,239,878 | €1,206,049 | -€33,829 | -2.7% |
| Equity | 10/15 | €864,988 | €965,568 | +€100,580 | +11.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €846,388 | €946,968 | +€100,580 | +11.9% |
| Distributable reserves | 133 | €846,388 | €946,968 | +€100,580 | +11.9% |
| Amounts payable | 17/49 | €374,890 | €240,481 | -€134,409 | -35.9% |
| Amounts payable after more than one year | 17 | €90,000 | €90,000 | = | 0.0% |
| Financial debts | 170/4 | €90,000 | €90,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €274,965 | €141,268 | -€133,697 | -48.6% |
| Trade debts | 44 | €3,060 | €2,076 | -€984 | -32.1% |
| Suppliers | 440/4 | €3,060 | €2,076 | -€984 | -32.1% |
| Taxes, remuneration and social security | 45 | €37,444 | €25,824 | -€11,620 | -31.0% |
| Taxes | 450/3 | €37,444 | €25,824 | -€11,620 | -31.0% |
| Other amounts payable | 47/48 | €234,461 | €113,367 | -€121,094 | -51.6% |
| Accrued charges and deferred income | 492/3 | €9,925 | €9,214 | -€712 | -7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,583 | €32,739 | -€844 | -2.5% |
| Other operating charges | 640/8 | €4,492 | €3,013 | -€1,479 | -32.9% |
| Gross operating margin | 9900 | €136,242 | €186,189 | +€49,947 | +36.7% |
| Operating profit (loss) | 9901 | €98,167 | €150,437 | +€52,270 | +53.2% |
| Financial income | 75/76B | €32,420 | €10,404 | -€22,016 | -67.9% |
| Recurring financial income | 75 | €32,420 | €10,404 | -€22,016 | -67.9% |
| Financial charges | 65/66B | €12,703 | €11,073 | -€1,630 | -12.8% |
| Recurring financial charges | 65 | €12,703 | €11,073 | -€1,630 | -12.8% |
| Profit (loss) for the period before taxes | 9903 | €117,884 | €149,768 | +€31,884 | +27.0% |
| Income taxes | 67/77 | €36,784 | €47,528 | +€10,744 | +29.2% |
| Profit (loss) for the period | 9904 | €81,100 | €102,240 | +€21,140 | +26.1% |
| Profit (loss) for the period to be appropriated | 9905 | €81,100 | €102,240 | +€21,140 | +26.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.