ITB-TRADETECH: what changed
Two fiscal 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.
ITB-TRADETECH
Largest movements
- Current investments -€2.0m
down €2.0m (-60.6%), from €3.4m to €1.3m
- Receivables within one year +€1.7m
up €1.7m (+93.7%), from €1.8m to €3.4m
of which Trade receivables: +€1.6m
- Cash +€614,029
up €614,029 (+104.7%), from €586,501 to €1.2m
mainly Current investments (+€2.0m) and Advances received (+€1.1m)
- Advances received +€1.1m
up €1.1m (+172.6%), from €614,914 to €1.7m
- Trade debts -€450,307
down €450,307 (-41.3%), from €1.1m to €639,316
- Other debts -€209,346
down €209,346 (-48.1%), from €434,866 to €225,521
- Reserves -€89,442
down €89,442 (-3.5%), from €2.6m to €2.5m
of which Distributable reserves: -€119,374
- Gross operating margin -€703,022
down €703,022 (-63.4%), from €1.1m to €405,298
- Taxes -€180,821
down €180,821 (-80.8%), from €223,866 to €43,044
- Staff costs -€74,244
down €74,244 (-23.9%), from €310,228 to €235,984
- Depreciation -€44,511
down €44,511 (-47.1%), from €94,593 to €50,082
- Financial income -€19,101
down €19,101 (-36.2%), from €52,836 to €33,734
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.
Cash bridge derived
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 | €7,844,505 | €8,115,844 | +€271,339 | +3.5% |
| Fixed assets | 21/28 | €1,845,882 | €1,797,886 | -€47,996 | -2.6% |
| Intangible fixed assets | 21 | €913 | €196 | -€717 | -78.5% |
| Tangible fixed assets | 22/27 | €580,742 | €533,464 | -€47,278 | -8.1% |
| Land and buildings | 22 | €520,190 | €486,852 | -€33,338 | -6.4% |
| Plant, machinery and equipment | 23 | €57,457 | €2,580 | -€54,877 | -95.5% |
| Furniture and vehicles | 24 | €3,095 | €44,032 | +€40,937 | +1322.5% |
| Financial fixed assets | 28 | €1,264,227 | €1,264,227 | = | 0.0% |
| Current assets | 29/58 | €5,998,623 | €6,317,957 | +€319,334 | +5.3% |
| Stocks and contracts in progress | 3 | €268,800 | €334,732 | +€65,932 | +24.5% |
| Stocks | 30/36 | €268,800 | €334,732 | +€65,932 | +24.5% |
| Amounts receivable within one year | 40/41 | €1,771,140 | €3,429,897 | +€1.7m | +93.7% |
| Trade receivables | 40 | €1,693,309 | €3,341,475 | +€1.6m | +97.3% |
| Other amounts receivable | 41 | €77,831 | €88,421 | +€10,590 | +13.6% |
| Current investments | 50/53 | €3,354,246 | €1,322,950 | -€2.0m | -60.6% |
| Cash at bank and in hand | 54/58 | €586,501 | €1,200,530 | +€614,029 | +104.7% |
| Deferred charges and accrued income | 490/1 | €17,937 | €29,849 | +€11,913 | +66.4% |
| Total equity and liabilities | 10/49 | €7,844,505 | €8,115,844 | +€271,339 | +3.5% |
| Equity | 10/15 | €5,602,477 | €5,484,400 | -€118,076 | -2.1% |
| Contributions | 10/11 | €1,250,000 | €1,250,000 | = | 0.0% |
| Capital | 10 | €1,250,000 | €1,250,000 | = | 0.0% |
| Issued capital | 100 | €1,250,000 | €1,250,000 | = | 0.0% |
| Revaluation surpluses | 12 | €384,437 | €354,505 | -€29,932 | -7.8% |
| Reserves | 13 | €2,565,822 | €2,476,380 | -€89,442 | -3.5% |
| Non-distributable reserves | 130/1 | €561,441 | €591,373 | +€29,932 | +5.3% |
| Legal reserve | 130 | €125,000 | €125,000 | = | 0.0% |
| Own shares acquired | 1312 | €16,143 | €16,143 | = | 0.0% |
| Other | 1319 | €420,298 | €450,230 | +€29,932 | +7.1% |
| Distributable reserves | 133 | €2,004,381 | €1,885,007 | -€119,374 | -6.0% |
| Profit (loss) carried forward | 14 | €1,402,217 | €1,403,515 | +€1,298 | +0.1% |
| Amounts payable | 17/49 | €2,242,029 | €2,631,443 | +€389,415 | +17.4% |
| Amounts payable within one year | 42/48 | €2,242,029 | €2,625,158 | +€383,129 | +17.1% |
| Trade debts | 44 | €1,089,623 | €639,316 | -€450,307 | -41.3% |
| Suppliers | 440/4 | €1,089,623 | €639,316 | -€450,307 | -41.3% |
| Advances received on contracts in progress | 46 | €614,914 | €1,676,339 | +€1.1m | +172.6% |
| Taxes, remuneration and social security | 45 | €102,625 | €83,982 | -€18,643 | -18.2% |
| Taxes | 450/3 | €92,247 | €56,072 | -€36,175 | -39.2% |
| Remuneration and social security | 454/9 | €10,378 | €27,910 | +€17,532 | +168.9% |
| Other amounts payable | 47/48 | €434,866 | €225,521 | -€209,346 | -48.1% |
| Accrued charges and deferred income | 492/3 | - | €6,285 | +€6,285 | |
| Non-recurring operating income | 76A | - | €132,459 | +€132,459 | |
| Remuneration, social security and pensions | 62 | €310,228 | €235,984 | -€74,244 | -23.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €94,593 | €50,082 | -€44,511 | -47.1% |
| Other operating charges | 640/8 | €4,836 | €9,225 | +€4,388 | +90.7% |
| Gross operating margin | 9900 | €1,108,321 | €405,298 | -€703,022 | -63.4% |
| Operating profit (loss) | 9901 | €698,663 | €110,007 | -€588,656 | -84.3% |
| Financial income | 75/76B | €52,836 | €33,734 | -€19,101 | -36.2% |
| Recurring financial income | 75 | €52,836 | €33,734 | -€19,101 | -36.2% |
| Financial charges | 65/66B | €20,267 | €9,399 | -€10,868 | -53.6% |
| Recurring financial charges | 65 | €20,267 | €9,399 | -€10,868 | -53.6% |
| Profit (loss) for the period before taxes | 9903 | €731,232 | €134,342 | -€596,889 | -81.6% |
| Income taxes | 67/77 | €223,866 | €43,044 | -€180,821 | -80.8% |
| Profit (loss) for the period | 9904 | €507,366 | €91,298 | -€416,068 | -82.0% |
| Transfer from tax-exempt reserves | 789 | €189,450 | - | -€189,450 | |
| Profit (loss) for the period to be appropriated | 9905 | €696,816 | €91,298 | -€605,518 | -86.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.