ITC BENELUX: 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.
ITC BENELUX
Largest movements
- Tangible fixed assets +€103,138
up €103,138 (+95.3%), from €108,275 to €211,413
of which Other tangible fixed assets: +€79,738
- Cash -€90,499
down €90,499 (-51.2%), from €176,598 to €86,099
mainly Investment in fixed assets (net) (-€161,335) and Net result for the year (-€116,560)
- Receivables within one year +€79,500
up €79,500 (+13.8%), from €574,812 to €654,312
of which Trade receivables: +€47,900
- Profit (loss) carried forward -€158,055
down €158,055, from €41,495 to -€116,560
- Trade debts +€139,703
up €139,703 (+31.9%), from €437,693 to €577,396
- Debts after one year +€50,126
up €50,126 (+69.3%), from €72,375 to €122,501
- Reserves +€41,495
up €41,495 (+18.9%), from €219,087 to €260,582
- Current portion of long-term debt +€22,668
up €22,668 (+49.7%), from €45,569 to €68,237
- Staff costs +€106,249
up €106,249 (+49.6%), from €214,180 to €320,429
- Gross operating margin -€45,899
down €45,899 (-14.4%), from €318,525 to €272,625
- Taxes -€16,327
down €16,327 (-92.3%), from €17,685 to €1,358
- Financial income -€11,407
down €11,407 (-98.2%), from €11,612 to €205
- Depreciation +€8,043
up €8,043 (+18.5%), from €43,473 to €51,517
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 | €892,425 | €994,407 | +€101,983 | +11.4% |
| Fixed assets | 21/28 | €123,234 | €233,052 | +€109,818 | +89.1% |
| Intangible fixed assets | 21 | €1,151 | €7,831 | +€6,680 | +580% |
| Tangible fixed assets | 22/27 | €108,275 | €211,413 | +€103,138 | +95.3% |
| Plant, machinery and equipment | 23 | €14,998 | €12,917 | -€2,082 | -13.9% |
| Furniture and vehicles | 24 | €93,277 | €118,758 | +€25,481 | +27.3% |
| Other tangible fixed assets | 26 | - | €79,738 | +€79,738 | |
| Financial fixed assets | 28 | €13,808 | €13,808 | = | 0.0% |
| Current assets | 29/58 | €769,190 | €761,355 | -€7,835 | -1.0% |
| Amounts receivable within one year | 40/41 | €574,812 | €654,312 | +€79,500 | +13.8% |
| Trade receivables | 40 | €548,974 | €596,874 | +€47,900 | +8.7% |
| Other amounts receivable | 41 | €25,838 | €57,438 | +€31,600 | +122% |
| Cash at bank and in hand | 54/58 | €176,598 | €86,099 | -€90,499 | -51.2% |
| Deferred charges and accrued income | 490/1 | €17,781 | €20,944 | +€3,164 | +17.8% |
| Total equity and liabilities | 10/49 | €892,425 | €994,407 | +€101,983 | +11.4% |
| Equity | 10/15 | €268,642 | €152,082 | -€116,560 | -43.4% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €219,087 | €260,582 | +€41,495 | +18.9% |
| Distributable reserves | 133 | €219,087 | €260,582 | +€41,495 | +18.9% |
| Profit (loss) carried forward | 14 | €41,495 | -€116,560 | -€158,055 | |
| Amounts payable | 17/49 | €623,782 | €842,325 | +€218,543 | +35.0% |
| Amounts payable after more than one year | 17 | €72,375 | €122,501 | +€50,126 | +69.3% |
| Financial debts | 170/4 | €72,375 | €122,501 | +€50,126 | +69.3% |
| Amounts payable within one year | 42/48 | €551,408 | €719,824 | +€168,416 | +30.5% |
| Current portion of amounts payable after more than one year | 42 | €45,569 | €68,237 | +€22,668 | +49.7% |
| Trade debts | 44 | €437,693 | €577,396 | +€139,703 | +31.9% |
| Suppliers | 440/4 | €437,693 | €577,396 | +€139,703 | +31.9% |
| Taxes, remuneration and social security | 45 | €67,915 | €73,642 | +€5,726 | +8.4% |
| Taxes | 450/3 | €49,447 | €19,705 | -€29,742 | -60.1% |
| Remuneration and social security | 454/9 | €18,468 | €53,936 | +€35,468 | +192% |
| Other amounts payable | 47/48 | €231 | €549 | +€318 | +138% |
| Remuneration, social security and pensions | 62 | €214,180 | €320,429 | +€106,249 | +49.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,473 | €51,517 | +€8,043 | +18.5% |
| Other operating charges | 640/8 | €7,549 | €7,926 | +€377 | +5.0% |
| Gross operating margin | 9900 | €318,525 | €272,625 | -€45,899 | -14.4% |
| Operating profit (loss) | 9901 | €53,323 | -€107,246 | -€160,569 | |
| Financial income | 75/76B | €11,612 | €205 | -€11,407 | -98.2% |
| Recurring financial income | 75 | €11,612 | €205 | -€11,407 | -98.2% |
| Financial charges | 65/66B | €5,754 | €8,161 | +€2,407 | +41.8% |
| Recurring financial charges | 65 | €5,754 | €8,161 | +€2,407 | +41.8% |
| Profit (loss) for the period before taxes | 9903 | €59,181 | -€115,202 | -€174,383 | |
| Income taxes | 67/77 | €17,685 | €1,358 | -€16,327 | -92.3% |
| Profit (loss) for the period | 9904 | €41,495 | -€116,560 | -€158,055 | |
| Profit (loss) for the period to be appropriated | 9905 | €41,495 | -€116,560 | -€158,055 |
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 14 October 2026 via checked.be.