ITALGEM: 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.
ITALGEM
Largest movements
- Cash +€18,513
up €18,513 (+133%), from €13,933 to €32,446
mainly Net result for the year (+€17,157) and Tax, wage and social debts (+€1,923)
- Tangible fixed assets +€1,176
new in 2025: €1,176
- Profit (loss) carried forward +€17,157
up €17,157 (+9.5%), from -€180,164 to -€163,006
- Tax, wage and social debts +€1,923
new in 2025: €1,923
- Trade debts +€365
up €365 (+238%), from €154 to €519
- Gross operating margin +€18,934
up €18,934, from -€1,469 to €17,465
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 | €14,250 | €33,621 | +€19,371 | +136% |
| Fixed assets | 21/28 | - | €1,176 | +€1,176 | |
| Tangible fixed assets | 22/27 | - | €1,176 | +€1,176 | |
| Plant, machinery and equipment | 23 | - | €1,176 | +€1,176 | |
| Current assets | 29/58 | €14,250 | €32,446 | +€18,195 | +128% |
| Amounts receivable within one year | 40/41 | €318 | - | -€318 | |
| Other amounts receivable | 41 | €318 | - | -€318 | |
| Cash at bank and in hand | 54/58 | €13,933 | €32,446 | +€18,513 | +133% |
| Total equity and liabilities | 10/49 | €14,250 | €33,621 | +€19,371 | +136% |
| Equity | 10/15 | -€132,134 | -€114,977 | +€17,157 | +13.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €29,438 | €29,438 | = | 0.0% |
| Distributable reserves | 133 | €29,438 | €29,438 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€180,164 | -€163,006 | +€17,157 | +9.5% |
| Amounts payable | 17/49 | €146,384 | €148,598 | +€2,214 | +1.5% |
| Amounts payable within one year | 42/48 | €146,384 | €148,598 | +€2,214 | +1.5% |
| Trade debts | 44 | €154 | €519 | +€365 | +238% |
| Suppliers | 440/4 | €154 | €519 | +€365 | +238% |
| Taxes, remuneration and social security | 45 | - | €1,923 | +€1,923 | |
| Taxes | 450/3 | - | €1,923 | +€1,923 | |
| Other amounts payable | 47/48 | €146,231 | €146,157 | -€74 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €145 | +€145 | |
| Other operating charges | 640/8 | €118 | €120 | +€2 | +1.7% |
| Gross operating margin | 9900 | -€1,469 | €17,465 | +€18,934 | |
| Operating profit (loss) | 9901 | -€1,587 | €17,200 | +€18,787 | |
| Financial charges | 65/66B | €47 | €43 | -€4 | -8.5% |
| Recurring financial charges | 65 | €47 | €43 | -€4 | -8.5% |
| Profit (loss) for the period before taxes | 9903 | -€1,634 | €17,157 | +€18,791 | |
| Profit (loss) for the period | 9904 | -€1,634 | €17,157 | +€18,791 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,634 | €17,157 | +€18,791 |
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 13 October 2026 via checked.be.