iTarget: 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.
iTarget
Largest movements
- Receivables within one year -€17,185
down €17,185 (-30.5%), from €56,270 to €39,084
of which Other amounts receivable: -€32,225
- Cash -€5,304
down €5,304 (-13.6%), from €38,922 to €33,618
mainly Contributions, distributions and other (-€42,410) and Current portion of long-term debt (-€2,835)
- Tangible fixed assets -€4,974
down €4,974 (-55.8%), from €8,906 to €3,933
of which Furniture and vehicles: -€4,254
- Intangible fixed assets -€3,200
down €3,200 (-25.0%), from €12,800 to €9,600
- Deferred charges and accrued income -€1,629
down €1,629 (-49.9%), from €3,262 to €1,633
- Reserves -€35,737
down €35,737 (-42.8%), from €83,575 to €47,839
of which Distributable reserves: -€35,737
- Tax, wage and social debts +€3,007
up €3,007 (+31.5%), from €9,549 to €12,556
- Other debts +€2,910
up €2,910, from €0 to €2,910
- Current portion of long-term debt -€2,835
down €2,835 (-100%), from €2,835 to €0
- Gross operating margin -€18,902
down €18,902 (-44.3%), from €42,642 to €23,740
- Depreciation -€13,228
down €13,228 (-61.8%), from €21,401 to €8,174
- Taxes -€5,278
down €5,278 (-45.2%), from €11,665 to €6,388
- Financial income -€1,952
down €1,952 (-84.9%), from €2,298 to €346
- Financial charges -€729
down €729 (-46.3%), from €1,574 to €845
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 | €121,961 | €89,669 | -€32,292 | -26.5% |
| Fixed assets | 21/28 | €23,506 | €15,333 | -€8,174 | -34.8% |
| Intangible fixed assets | 21 | €12,800 | €9,600 | -€3,200 | -25.0% |
| Tangible fixed assets | 22/27 | €8,906 | €3,933 | -€4,974 | -55.8% |
| Plant, machinery and equipment | 23 | €2,880 | €2,160 | -€720 | -25.0% |
| Furniture and vehicles | 24 | €6,026 | €1,772 | -€4,254 | -70.6% |
| Financial fixed assets | 28 | €1,800 | €1,800 | = | 0.0% |
| Current assets | 29/58 | €98,454 | €74,336 | -€24,118 | -24.5% |
| Amounts receivable within one year | 40/41 | €56,270 | €39,084 | -€17,185 | -30.5% |
| Trade receivables | 40 | €11,832 | €26,872 | +€15,040 | +127% |
| Other amounts receivable | 41 | €44,438 | €12,212 | -€32,225 | -72.5% |
| Cash at bank and in hand | 54/58 | €38,922 | €33,618 | -€5,304 | -13.6% |
| Deferred charges and accrued income | 490/1 | €3,262 | €1,633 | -€1,629 | -49.9% |
| Total equity and liabilities | 10/49 | €121,961 | €89,669 | -€32,292 | -26.5% |
| Equity | 10/15 | €104,527 | €68,791 | -€35,737 | -34.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €83,575 | €47,839 | -€35,737 | -42.8% |
| Non-distributable reserves | 130/1 | €3,439 | €3,439 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,439 | €3,439 | = | 0.0% |
| Distributable reserves | 133 | €80,136 | €44,400 | -€35,737 | -44.6% |
| Profit (loss) carried forward | 14 | €2,352 | €2,352 | = | 0.0% |
| Amounts payable | 17/49 | €17,433 | €20,878 | +€3,445 | +19.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €17,433 | €20,878 | +€3,445 | +19.8% |
| Current portion of amounts payable after more than one year | 42 | €2,835 | €0 | -€2,835 | -100% |
| Trade debts | 44 | €5,049 | €5,411 | +€362 | +7.2% |
| Suppliers | 440/4 | €5,049 | €5,411 | +€362 | +7.2% |
| Taxes, remuneration and social security | 45 | €9,549 | €12,556 | +€3,007 | +31.5% |
| Taxes | 450/3 | €9,549 | €12,556 | +€3,007 | +31.5% |
| Other amounts payable | 47/48 | €0 | €2,910 | +€2,910 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,401 | €8,174 | -€13,228 | -61.8% |
| Other operating charges | 640/8 | €2,014 | €2,006 | -€8 | -0.4% |
| Gross operating margin | 9900 | €42,642 | €23,740 | -€18,902 | -44.3% |
| Operating profit (loss) | 9901 | €19,227 | €13,560 | -€5,667 | -29.5% |
| Financial income | 75/76B | €2,298 | €346 | -€1,952 | -84.9% |
| Recurring financial income | 75 | €2,298 | €346 | -€1,952 | -84.9% |
| Financial charges | 65/66B | €1,574 | €845 | -€729 | -46.3% |
| Recurring financial charges | 65 | €1,574 | €845 | -€729 | -46.3% |
| Profit (loss) for the period before taxes | 9903 | €19,951 | €13,061 | -€6,890 | -34.5% |
| Income taxes | 67/77 | €11,665 | €6,388 | -€5,278 | -45.2% |
| Profit (loss) for the period | 9904 | €8,286 | €6,674 | -€1,612 | -19.5% |
| Profit (loss) for the period to be appropriated | 9905 | €8,286 | €6,674 | -€1,612 | -19.5% |
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.