ITAKA: 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.
ITAKA
Largest movements
- Tangible fixed assets -€44,218
down €44,218 (-9.5%), from €466,392 to €422,174
of which Land and buildings: -€32,540
- Cash -€34,274
down €34,274 (-49.9%), from €68,751 to €34,477
mainly Contributions, distributions and other (-€52,178) and Net result for the year (-€8,168)
- Reserves -€60,346
down €60,346 (-24.5%), from €245,994 to €185,648
of which Distributable reserves: -€41,668
- Other debts -€6,308
down €6,308 (-6.2%), from €102,348 to €96,039
- Provisions -€6,226
down €6,226 (-12.5%), from €49,806 to €43,580
- Debts after one year -€6,000
down €6,000 (-25.0%), from €24,000 to €18,000
- Depreciation -€11,323
down €11,323 (-20.4%), from €55,541 to €44,218
- Taxes +€3,376
up €3,376 (+217%), from €1,553 to €4,929
- Gross operating margin -€1,050
down €1,050 (-2.2%), from €48,333 to €47,283
- Financial income +€531
up €531 (+408%), from €130 to €661
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 | €537,163 | €459,111 | -€78,052 | -14.5% |
| Fixed assets | 21/28 | €466,392 | €422,174 | -€44,218 | -9.5% |
| Tangible fixed assets | 22/27 | €466,392 | €422,174 | -€44,218 | -9.5% |
| Land and buildings | 22 | €367,323 | €334,782 | -€32,540 | -8.9% |
| Plant, machinery and equipment | 23 | €99,069 | €87,392 | -€11,677 | -11.8% |
| Current assets | 29/58 | €70,771 | €36,937 | -€33,834 | -47.8% |
| Amounts receivable within one year | 40/41 | €1,486 | €1,486 | = | 0.0% |
| Other amounts receivable | 41 | €1,486 | €1,486 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €68,751 | €34,477 | -€34,274 | -49.9% |
| Deferred charges and accrued income | 490/1 | €534 | €973 | +€440 | +82.5% |
| Total equity and liabilities | 10/49 | €537,163 | €459,111 | -€78,052 | -14.5% |
| Equity | 10/15 | €352,103 | €291,757 | -€60,346 | -17.1% |
| Contributions | 10/11 | €106,098 | €106,098 | = | 0.0% |
| Contributions outside capital | 11 | €106,098 | €106,098 | = | 0.0% |
| Other | 1109/19 | €106,098 | €106,098 | = | 0.0% |
| Reserves | 13 | €245,994 | €185,648 | -€60,346 | -24.5% |
| Tax-exempt reserves | 132 | €149,418 | €130,741 | -€18,677 | -12.5% |
| Distributable reserves | 133 | €96,576 | €54,908 | -€41,668 | -43.1% |
| Profit (loss) carried forward | 14 | €10 | €10 | = | 0.0% |
| Provisions and deferred taxes | 16 | €49,806 | €43,580 | -€6,226 | -12.5% |
| Deferred taxes | 168 | €49,806 | €43,580 | -€6,226 | -12.5% |
| Amounts payable | 17/49 | €135,254 | €123,774 | -€11,480 | -8.5% |
| Amounts payable after more than one year | 17 | €24,000 | €18,000 | -€6,000 | -25.0% |
| Financial debts | 170/4 | €24,000 | €18,000 | -€6,000 | -25.0% |
| Amounts payable within one year | 42/48 | €109,331 | €103,692 | -€5,639 | -5.2% |
| Financial debts | 43 | €6,000 | €6,000 | = | 0.0% |
| Other loans | 439 | €6,000 | €6,000 | = | 0.0% |
| Trade debts | 44 | €983 | €1,122 | +€138 | +14.1% |
| Suppliers | 440/4 | €983 | €1,122 | +€138 | +14.1% |
| Taxes, remuneration and social security | 45 | - | €531 | +€531 | |
| Taxes | 450/3 | - | €531 | +€531 | |
| Other amounts payable | 47/48 | €102,348 | €96,039 | -€6,308 | -6.2% |
| Accrued charges and deferred income | 492/3 | €1,923 | €2,082 | +€159 | +8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,541 | €44,218 | -€11,323 | -20.4% |
| Other operating charges | 640/8 | €5,845 | €5,896 | +€51 | +0.9% |
| Gross operating margin | 9900 | €48,333 | €47,283 | -€1,050 | -2.2% |
| Operating profit (loss) | 9901 | -€13,052 | -€2,831 | +€10,221 | +78.3% |
| Financial income | 75/76B | €130 | €661 | +€531 | +408% |
| Recurring financial income | 75 | €130 | €661 | +€531 | +408% |
| Financial charges | 65/66B | €7,099 | €7,294 | +€195 | +2.7% |
| Recurring financial charges | 65 | €7,099 | €7,294 | +€195 | +2.7% |
| Profit (loss) for the period before taxes | 9903 | -€20,021 | -€9,465 | +€10,557 | +52.7% |
| Transfer from deferred taxes | 780 | €6,226 | €6,226 | = | 0.0% |
| Income taxes | 67/77 | €1,553 | €4,929 | +€3,376 | +217% |
| Profit (loss) for the period | 9904 | -€15,349 | -€8,168 | +€7,181 | +46.8% |
| Transfer from tax-exempt reserves | 789 | €18,677 | €18,677 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €3,328 | €10,509 | +€7,181 | +216% |
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.