ITC Co: 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.
What changed
ITC Co
NACE 13.929, Manufacture of textiles
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€5.3m
2024 · -€591,693-€4.7m
Equity
€29.2m
2024 · €34.5m-€5.3m
Cash
€152,818
2024 · €1.3m-€1.1m
Balance sheet total
€77.3m
2024 · €76.4m+€919,108
Largest movements
Assets
- Intangible fixed assets +€3.0m
up €3.0m (+128.9%), from €2.3m to €5.3m
- Receivables within one year +€2.4m
up €2.4m (+51.0%), from €4.8m to €7.2m
of which Trade receivables: +€1.9m
- Stocks and contracts -€2.4m
down €2.4m (-13.2%), from €18.4m to €16.0m
- Cash -€1.1m
down €1.1m (-88.2%), from €1.3m to €152,818
mainly Investment in fixed assets (net) (-€6.7m) and Net result for the year (-€5.3m)
- Tangible fixed assets -€913,154
down €913,154 (-5.4%), from €16.8m to €15.9m
of which Leasing and similar rights: -€2.1m
Equity and liabilities
- Short-term financial debts +€7.4m
new in 2025: €7.4m
- Profit (loss) carried forward -€5.3m
down €5.3m (-50.3%), from €10.5m to €5.2m
- Trade debts +€3.0m
up €3.0m (+28.1%), from €10.7m to €13.8m
- Accrued charges and deferred income -€2.7m
down €2.7m (-20.5%), from €13.3m to €10.6m
- Debts after one year -€2.2m
down €2.2m (-24.3%), from €9.1m to €6.9m
Income statement
- Turnover -€17.6m
down €17.6m (-20.3%), from €86.9m to €69.2m
- Goods and materials -€11.9m
down €11.9m (-32.4%), from €36.7m to €24.8m
of which Purchases: -€9.3m
- Other operating income +€4.7m
up €4.7m (+186.7%), from €2.5m to €7.2m
- Staff costs -€999,104
down €999,104 (-3.5%), from €28.5m to €27.5m
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
-€591,693
Turnover
-€17.6m
Other operating income
+€4.7m
Goods and materials
+€11.9m
Services and other goods
-€114,303
Staff costs
+€999,104
Depreciation
-€396,319
Write-downs
-€184,818
Other operating charges
+€46,606
Other operating items
-€4.4m
Financial income
-€5,774
Financial charges
+€373,205
Taxes
+€1,643
Result 2025
-€5.3m
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.
From operations
+€263,530
Investment
-€6.7m
Financing
+€5.3m
Cash 2024
€1.3m
From operations (derived)
+€263,530
Net result for the year
-€5.3m
Depreciation
+€4.6m
Stocks and contracts
+€2.4m
Receivables within one year
-€2.4m
Deferred charges and accrued income
+€3,213
Provisions
+€1.5m
Trade debts
+€3.0m
Tax, wage and social debts
-€953,189
Other debts
+€32,461
Accrued charges and deferred income
-€2.7m
Investment (derived)
-€6.7m
Investment in fixed assets (net)
-€6.7m
Financing
+€5.3m
Debts after one year
-€2.2m
Current portion of long-term debt
+€61,469
Short-term financial debts
+€7.4m
Cash 2025
€152,818
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €76,362,623 | €77,281,732 | +€919,108 | +1.2% |
| Fixed assets | 21/28 | €51,808,440 | €53,864,675 | +€2.1m | +4.0% |
| Intangible fixed assets | 21 | €2,303,698 | €5,273,087 | +€3.0m | +128.9% |
| Tangible fixed assets | 22/27 | €16,832,679 | €15,919,525 | -€913,154 | -5.4% |
| Plant, machinery and equipment | 23 | €5,473,733 | €6,521,772 | +€1.0m | +19.1% |
| Furniture and vehicles | 24 | €215,307 | €280,872 | +€65,565 | +30.5% |
| Leasing and similar rights | 25 | €10,563,654 | €8,429,517 | -€2.1m | -20.2% |
| Other tangible fixed assets | 26 | €561,486 | €687,364 | +€125,878 | +22.4% |
| Assets under construction and advance payments | 27 | €18,500 | - | -€18,500 | |
| Financial fixed assets | 28 | €32,672,063 | €32,672,063 | = | 0.0% |
| Affiliated companies | 280/1 | €32,622,839 | €32,622,839 | = | 0.0% |
| Participating interests | 280 | €32,622,839 | €32,622,839 | = | 0.0% |
| Other financial fixed assets | 284/8 | €49,224 | €49,224 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €49,224 | €49,224 | = | 0.0% |
| Current assets | 29/58 | €24,554,183 | €23,417,056 | -€1.1m | -4.6% |
| Stocks and contracts in progress | 3 | €18,444,979 | €16,013,143 | -€2.4m | -13.2% |
| Stocks | 30/36 | €18,444,979 | €16,013,143 | -€2.4m | -13.2% |
| Raw materials and consumables | 30/31 | €9,607,919 | €9,991,937 | +€384,018 | +4.0% |
| Work in progress | 32 | €2,997,223 | €3,089,424 | +€92,202 | +3.1% |
| Finished goods | 33 | €5,839,838 | €2,931,782 | -€2.9m | -49.8% |
| Amounts receivable within one year | 40/41 | €4,790,791 | €7,233,049 | +€2.4m | +51.0% |
| Trade receivables | 40 | €4,504,096 | €6,362,454 | +€1.9m | +41.3% |
| Other amounts receivable | 41 | €286,695 | €870,596 | +€583,901 | +203.7% |
| Cash at bank and in hand | 54/58 | €1,297,155 | €152,818 | -€1.1m | -88.2% |
| Deferred charges and accrued income | 490/1 | €21,259 | €18,046 | -€3,213 | -15.1% |
| Total equity and liabilities | 10/49 | €76,362,623 | €77,281,732 | +€919,108 | +1.2% |
| Equity | 10/15 | €34,472,945 | €29,188,492 | -€5.3m | -15.3% |
| Contributions | 10/11 | €21,004,713 | €21,004,713 | = | 0.0% |
| Reserves | 13 | €2,961,526 | €2,961,526 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,515,193 | €1,515,193 | = | 0.0% |
| Other | 1319 | €1,515,193 | €1,515,193 | = | 0.0% |
| Distributable reserves | 133 | €1,446,334 | €1,446,334 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,506,705 | €5,222,252 | -€5.3m | -50.3% |
| Provisions and deferred taxes | 16 | - | €1,543,611 | +€1.5m | |
| Provisions for liabilities and charges | 160/5 | - | €1,543,611 | +€1.5m | |
| Environmental obligations | 163 | - | €1,543,611 | +€1.5m | |
| Amounts payable | 17/49 | €41,889,679 | €46,549,628 | +€4.7m | +11.1% |
| Amounts payable after more than one year | 17 | €9,124,485 | €6,908,713 | -€2.2m | -24.3% |
| Financial debts | 170/4 | €9,124,485 | €6,908,713 | -€2.2m | -24.3% |
| Leasing and similar obligations | 172 | €9,124,485 | €6,908,713 | -€2.2m | -24.3% |
| Amounts payable within one year | 42/48 | €19,453,116 | €29,057,018 | +€9.6m | +49.4% |
| Current portion of amounts payable after more than one year | 42 | €2,154,304 | €2,215,773 | +€61,469 | +2.9% |
| Financial debts | 43 | - | €7,438,365 | +€7.4m | |
| Other loans | 439 | - | €7,438,365 | +€7.4m | |
| Trade debts | 44 | €10,746,524 | €13,771,320 | +€3.0m | +28.1% |
| Suppliers | 440/4 | €10,746,524 | €13,771,320 | +€3.0m | +28.1% |
| Taxes, remuneration and social security | 45 | €6,552,288 | €5,599,099 | -€953,189 | -14.5% |
| Taxes | 450/3 | €710,377 | €544,719 | -€165,658 | -23.3% |
| Remuneration and social security | 454/9 | €5,841,911 | €5,054,380 | -€787,531 | -13.5% |
| Other amounts payable | 47/48 | €0 | €32,461 | +€32,461 | |
| Accrued charges and deferred income | 492/3 | €13,312,077 | €10,583,897 | -€2.7m | -20.5% |
| Operating income | 70/76A | €91,330,103 | €75,582,924 | -€15.7m | -17.2% |
| Turnover | 70 | €86,863,395 | €69,244,523 | -€17.6m | -20.3% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€330,715 | -€3,182,519 | -€2.9m | -862.3% |
| Other operating income | 74 | €2,516,160 | €7,213,650 | +€4.7m | +186.7% |
| Non-recurring operating income | 76A | €2,281,263 | €2,307,270 | +€26,007 | +1.1% |
| Operating charges | 60/66A | €89,325,653 | €78,640,308 | -€10.7m | -12.0% |
| Goods for resale, raw materials and consumables | 60 | €36,686,940 | €24,808,253 | -€11.9m | -32.4% |
| Purchases | 600/8 | €34,392,947 | €25,057,748 | -€9.3m | -27.1% |
| Change in stocks: decrease (increase) | 609 | €2,293,993 | -€249,495 | -€2.5m | |
| Services and other goods | 61 | €20,409,003 | €20,523,307 | +€114,303 | +0.6% |
| Remuneration, social security and pensions | 62 | €28,453,702 | €27,454,598 | -€999,104 | -3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,239,374 | €4,635,693 | +€396,319 | +9.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€624,659 | -€439,840 | +€184,818 | +29.6% |
| Other operating charges | 640/8 | €161,292 | €114,687 | -€46,606 | -28.9% |
| Non-recurring operating charges | 66A | €0 | €1,543,611 | +€1.5m | |
| Operating profit (loss) | 9901 | €2,004,449 | -€3,057,384 | -€5.1m | |
| Financial income | 75/76B | €127,094 | €121,320 | -€5,774 | -4.5% |
| Recurring financial income | 75 | €127,094 | €121,320 | -€5,774 | -4.5% |
| Other financial income | 752/9 | €127,094 | €121,320 | -€5,774 | -4.5% |
| Financial charges | 65/66B | €2,706,091 | €2,332,886 | -€373,205 | -13.8% |
| Recurring financial charges | 65 | €2,706,091 | €2,332,886 | -€373,205 | -13.8% |
| Debt charges | 650 | €596,608 | €730,750 | +€134,143 | +22.5% |
| Other financial charges | 652/9 | €2,109,483 | €1,602,136 | -€507,347 | -24.1% |
| Profit (loss) for the period before taxes | 9903 | -€574,547 | -€5,268,950 | -€4.7m | -817.1% |
| Income taxes | 67/77 | €17,146 | €15,503 | -€1,643 | -9.6% |
| Taxes | 670/3 | €17,146 | €15,503 | -€1,643 | -9.6% |
| Profit (loss) for the period | 9904 | -€591,693 | -€5,284,453 | -€4.7m | -793.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€591,693 | -€5,284,453 | -€4.7m | -793.1% |
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 7 October 2026 via checked.be.