ITALZ: 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.
What changed
ITALZ
NACE 77.110, Renting and leasing of cars and light motor vehicles
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1,573
2024 · €250+€1,323
Equity
€74,550
2024 · €89,606-€15,056
Cash
€1,941
2024 · €1,569+€372
Balance sheet total
€1.2m
2024 · €1.3m-€46,689
Largest movements
Assets
- Tangible fixed assets -€78,690
down €78,690 (-6.9%), from €1.1m to €1.1m
of which Land and buildings: -€49,292
- Receivables within one year +€41,783
up €41,783 (+61.1%), from €68,351 to €110,135
of which Trade receivables: +€38,552
Equity and liabilities
- Debts after one year -€74,381
down €74,381 (-8.2%), from €907,161 to €832,781
- Other debts +€51,838
up €51,838, from €0 to €51,838
- Tax, wage and social debts -€27,647
down €27,647 (-92.3%), from €29,961 to €2,314
- Short-term financial debts +€16,319
up €16,319 (+45.2%), from €36,075 to €52,395
- Reserves -€15,056
down €15,056 (-21.2%), from €71,006 to €55,950
Income statement
- Financial charges -€7,808
down €7,808 (-14.4%), from €54,043 to €46,234
- Depreciation -€1,793
down €1,793 (-2.0%), from €89,702 to €87,910
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.
Result 2024
€250
Gross operating margin
-€688
Depreciation
+€1,793
Other operating charges
+€181
Other operating items
-€5,311
Financial income
-€852
Financial charges
+€7,808
Taxes
-€1,608
Result 2025
€1,573
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€78,513
Investment
-€3,646
Financing
-€74,495
Cash 2024
€1,569
From operations (derived)
+€78,513
Net result for the year
+€1,573
Depreciation
+€87,910
Receivables after one year
+€6,229
Receivables within one year
-€41,783
Deferred charges and accrued income
-€1,648
Trade debts
+€2,037
Tax, wage and social debts
-€27,647
Other debts
+€51,838
Accrued charges and deferred income
+€5
Investment (derived)
-€3,646
Investment in fixed assets (net)
-€3,646
Financing
-€74,495
Debts after one year
-€74,381
Current portion of long-term debt
+€195
Short-term financial debts
+€16,319
Contributions, distributions and other
-€16,629
Cash 2025
€1,941
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,260,651 | €1,213,962 | -€46,689 | -3.7% |
| Fixed assets | 21/28 | €1,160,931 | €1,076,668 | -€84,263 | -7.3% |
| Intangible fixed assets | 21 | €15,083 | €8,610 | -€6,473 | -42.9% |
| Tangible fixed assets | 22/27 | €1,145,848 | €1,067,158 | -€78,690 | -6.9% |
| Land and buildings | 22 | €1,090,402 | €1,041,110 | -€49,292 | -4.5% |
| Plant, machinery and equipment | 23 | €9,460 | €5,604 | -€3,856 | -40.8% |
| Furniture and vehicles | 24 | €36,609 | €14,767 | -€21,842 | -59.7% |
| Leasing and similar rights | 25 | €9,377 | €5,677 | -€3,700 | -39.5% |
| Financial fixed assets | 28 | €0 | €900 | +€900 | |
| Current assets | 29/58 | €99,719 | €137,294 | +€37,575 | +37.7% |
| Amounts receivable after more than one year | 29 | €24,824 | €18,595 | -€6,229 | -25.1% |
| Other amounts receivable | 291 | €24,824 | €18,595 | -€6,229 | -25.1% |
| Amounts receivable within one year | 40/41 | €68,351 | €110,135 | +€41,783 | +61.1% |
| Trade receivables | 40 | €36,831 | €75,384 | +€38,552 | +105% |
| Other amounts receivable | 41 | €31,520 | €34,751 | +€3,231 | +10.3% |
| Cash at bank and in hand | 54/58 | €1,569 | €1,941 | +€372 | +23.7% |
| Deferred charges and accrued income | 490/1 | €4,976 | €6,624 | +€1,648 | +33.1% |
| Total equity and liabilities | 10/49 | €1,260,651 | €1,213,962 | -€46,689 | -3.7% |
| Equity | 10/15 | €89,606 | €74,550 | -€15,056 | -16.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €71,006 | €55,950 | -€15,056 | -21.2% |
| Distributable reserves | 133 | €71,006 | €55,950 | -€15,056 | -21.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,171,045 | €1,139,412 | -€31,632 | -2.7% |
| Amounts payable after more than one year | 17 | €907,161 | €832,781 | -€74,381 | -8.2% |
| Financial debts | 170/4 | €907,161 | €832,781 | -€74,381 | -8.2% |
| Amounts payable within one year | 42/48 | €262,709 | €305,452 | +€42,743 | +16.3% |
| Current portion of amounts payable after more than one year | 42 | €74,185 | €74,381 | +€195 | +0.3% |
| Financial debts | 43 | €36,075 | €52,395 | +€16,319 | +45.2% |
| Credit institutions | 430/8 | €36,075 | €52,395 | +€16,319 | +45.2% |
| Trade debts | 44 | €502 | €2,539 | +€2,037 | +406% |
| Suppliers | 440/4 | €502 | €2,539 | +€2,037 | +406% |
| Advances received on contracts in progress | 46 | €121,985 | €121,985 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €29,961 | €2,314 | -€27,647 | -92.3% |
| Taxes | 450/3 | €29,961 | €2,314 | -€27,647 | -92.3% |
| Other amounts payable | 47/48 | €0 | €51,838 | +€51,838 | |
| Accrued charges and deferred income | 492/3 | €1,175 | €1,180 | +€5 | +0.4% |
| Non-recurring operating income | 76A | €8,000 | €8,132 | +€132 | +1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €89,702 | €87,910 | -€1,793 | -2.0% |
| Other operating charges | 640/8 | €13,945 | €13,764 | -€181 | -1.3% |
| Non-recurring operating charges | 66A | €3,682 | €8,992 | +€5,311 | +144% |
| Gross operating margin | 9900 | €163,922 | €163,233 | -€688 | -0.4% |
| Operating profit (loss) | 9901 | €56,593 | €52,567 | -€4,026 | -7.1% |
| Financial income | 75/76B | €867 | €15 | -€852 | -98.2% |
| Recurring financial income | 75 | €867 | €15 | -€852 | -98.2% |
| Financial charges | 65/66B | €54,043 | €46,234 | -€7,808 | -14.4% |
| Recurring financial charges | 65 | €54,043 | €46,234 | -€7,808 | -14.4% |
| Profit (loss) for the period before taxes | 9903 | €3,417 | €6,348 | +€2,931 | +85.8% |
| Income taxes | 67/77 | €3,167 | €4,775 | +€1,608 | +50.8% |
| Profit (loss) for the period | 9904 | €250 | €1,573 | +€1,323 | +530% |
| Profit (loss) for the period to be appropriated | 9905 | €250 | €1,573 | +€1,323 | +530% |
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 15 October 2026 via checked.be.