ITAI: 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.
ITAI
Largest movements
- Stocks and contracts +€24,874
up €24,874 (+16.5%), from €150,378 to €175,252
- Deferred charges and accrued income -€7,000
no longer reported in 2025 (was €7,000)
- Cash +€6,713
up €6,713 (+335%), from €2,003 to €8,716
mainly Short-term financial debts (+€32,790) and Trade debts (+€8,348)
- Short-term financial debts +€32,790
up €32,790 (+83.7%), from €39,190 to €71,980
- Profit (loss) carried forward -€15,230
down €15,230 (-23.7%), from -€64,329 to -€79,559
- Trade debts +€8,348
up €8,348 (+230%), from €3,625 to €11,972
- Other debts -€2,056
down €2,056 (-1.1%), from €179,285 to €177,230
- Gross operating margin +€25,860
up €25,860 (+69.6%), from -€37,133 to -€11,273
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 | €173,747 | €197,414 | +€23,667 | +13.6% |
| Fixed assets | 21/28 | €11,866 | €12,267 | +€401 | +3.4% |
| Tangible fixed assets | 22/27 | €866 | €1,267 | +€401 | +46.3% |
| Furniture and vehicles | 24 | €866 | €1,267 | +€401 | +46.3% |
| Financial fixed assets | 28 | €11,000 | €11,000 | = | 0.0% |
| Current assets | 29/58 | €161,880 | €185,147 | +€23,266 | +14.4% |
| Stocks and contracts in progress | 3 | €150,378 | €175,252 | +€24,874 | +16.5% |
| Stocks | 30/36 | €150,378 | €175,252 | +€24,874 | +16.5% |
| Amounts receivable within one year | 40/41 | €2,500 | €1,179 | -€1,321 | -52.8% |
| Trade receivables | 40 | €2,500 | - | -€2,500 | |
| Other amounts receivable | 41 | - | €1,179 | +€1,179 | |
| Cash at bank and in hand | 54/58 | €2,003 | €8,716 | +€6,713 | +335% |
| Deferred charges and accrued income | 490/1 | €7,000 | - | -€7,000 | |
| Total equity and liabilities | 10/49 | €173,747 | €197,414 | +€23,667 | +13.6% |
| Equity | 10/15 | -€49,269 | -€64,499 | -€15,230 | -30.9% |
| Contributions | 10/11 | €13,200 | €13,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€64,329 | -€79,559 | -€15,230 | -23.7% |
| Amounts payable | 17/49 | €223,015 | €261,913 | +€38,898 | +17.4% |
| Amounts payable within one year | 42/48 | €223,015 | €261,913 | +€38,898 | +17.4% |
| Financial debts | 43 | €39,190 | €71,980 | +€32,790 | +83.7% |
| Other loans | 439 | €39,190 | €71,980 | +€32,790 | +83.7% |
| Trade debts | 44 | €3,625 | €11,972 | +€8,348 | +230% |
| Suppliers | 440/4 | €3,625 | €11,972 | +€8,348 | +230% |
| Taxes, remuneration and social security | 45 | €915 | €731 | -€184 | -20.1% |
| Taxes | 450/3 | €915 | €731 | -€184 | -20.1% |
| Other amounts payable | 47/48 | €179,285 | €177,230 | -€2,056 | -1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €986 | €1,060 | +€74 | +7.5% |
| Other operating charges | 640/8 | €623 | €520 | -€104 | -16.6% |
| Gross operating margin | 9900 | -€37,133 | -€11,273 | +€25,860 | +69.6% |
| Operating profit (loss) | 9901 | -€38,742 | -€12,853 | +€25,889 | +66.8% |
| Financial income | 75/76B | €98 | €105 | +€6 | +6.5% |
| Recurring financial income | 75 | €98 | €105 | +€6 | +6.5% |
| Financial charges | 65/66B | €2,184 | €2,482 | +€299 | +13.7% |
| Recurring financial charges | 65 | €2,184 | €2,482 | +€299 | +13.7% |
| Profit (loss) for the period before taxes | 9903 | -€40,828 | -€15,230 | +€25,597 | +62.7% |
| Profit (loss) for the period | 9904 | -€40,828 | -€15,230 | +€25,597 | +62.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€40,828 | -€15,230 | +€25,597 | +62.7% |
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 20 October 2026 via checked.be.