ITDW: 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.
ITDW
Largest movements
- Receivables within one year +€426,929
up €426,929 (+765.0%), from €55,810 to €482,738
of which Trade receivables: +€390,779
- Cash -€13,154
down €13,154 (-8.6%), from €152,571 to €139,418
mainly Receivables within one year (-€426,929) and Other debts (-€17,341)
- Advances received +€310,340
new in 2025: €310,340
- Trade debts +€64,976
up €64,976 (+59.7%), from €108,827 to €173,804
of which Bills of exchange payable: +€85,980
- Accrued charges and deferred income +€43,139
up €43,139 (+188.9%), from €22,841 to €65,980
- Other debts -€17,341
down €17,341 (-51.9%), from €33,435 to €16,094
- Tax, wage and social debts +€6,316
up €6,316 (+13.4%), from €47,040 to €53,356
of which Remuneration and social security: +€10,330
- Gross operating margin +€152,539
up €152,539 (+157.2%), from €97,051 to €249,590
- Financial charges +€101,161
up €101,161 (+163.0%), from €62,078 to €163,239
- Staff costs +€70,001
up €70,001 (+1423.2%), from €4,918 to €74,919
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 | €221,402 | €631,029 | +€409,627 | +185.0% |
| Fixed assets | 21/28 | €12,228 | €8,677 | -€3,551 | -29.0% |
| Tangible fixed assets | 22/27 | €12,228 | €8,677 | -€3,551 | -29.0% |
| Furniture and vehicles | 24 | €12,228 | €8,677 | -€3,551 | -29.0% |
| Current assets | 29/58 | €209,174 | €622,353 | +€413,178 | +197.5% |
| Amounts receivable within one year | 40/41 | €55,810 | €482,738 | +€426,929 | +765.0% |
| Trade receivables | 40 | €23,809 | €414,588 | +€390,779 | +1641.3% |
| Other amounts receivable | 41 | €32,001 | €68,151 | +€36,150 | +113.0% |
| Cash at bank and in hand | 54/58 | €152,571 | €139,418 | -€13,154 | -8.6% |
| Deferred charges and accrued income | 490/1 | €793 | €197 | -€597 | -75.2% |
| Total equity and liabilities | 10/49 | €221,402 | €631,029 | +€409,627 | +185.0% |
| Equity | 10/15 | €9,259 | €11,456 | +€2,197 | +23.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,259 | €6,456 | +€2,197 | +51.6% |
| Amounts payable | 17/49 | €212,144 | €619,573 | +€407,430 | +192.1% |
| Amounts payable within one year | 42/48 | €189,303 | €553,593 | +€364,291 | +192.4% |
| Trade debts | 44 | €108,827 | €173,804 | +€64,976 | +59.7% |
| Suppliers | 440/4 | €108,827 | €87,824 | -€21,004 | -19.3% |
| Bills of exchange payable | 441 | - | €85,980 | +€85,980 | |
| Advances received on contracts in progress | 46 | - | €310,340 | +€310,340 | |
| Taxes, remuneration and social security | 45 | €47,040 | €53,356 | +€6,316 | +13.4% |
| Taxes | 450/3 | €46,323 | €42,309 | -€4,014 | -8.7% |
| Remuneration and social security | 454/9 | €717 | €11,047 | +€10,330 | +1440.5% |
| Other amounts payable | 47/48 | €33,435 | €16,094 | -€17,341 | -51.9% |
| Accrued charges and deferred income | 492/3 | €22,841 | €65,980 | +€43,139 | +188.9% |
| Remuneration, social security and pensions | 62 | €4,918 | €74,919 | +€70,001 | +1423.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,231 | €8,237 | +€6 | +0.1% |
| Other operating charges | 640/8 | €236 | €400 | +€163 | +69.1% |
| Non-recurring operating charges | 66A | - | €981 | +€981 | |
| Gross operating margin | 9900 | €97,051 | €249,590 | +€152,539 | +157.2% |
| Operating profit (loss) | 9901 | €83,666 | €165,054 | +€81,388 | +97.3% |
| Financial income | 75/76B | €123 | €1,796 | +€1,673 | +1361.0% |
| Recurring financial income | 75 | €123 | €1,796 | +€1,673 | +1361.0% |
| Financial charges | 65/66B | €62,078 | €163,239 | +€101,161 | +163.0% |
| Recurring financial charges | 65 | €62,078 | €163,239 | +€101,161 | +163.0% |
| Profit (loss) for the period before taxes | 9903 | €21,711 | €3,611 | -€18,100 | -83.4% |
| Income taxes | 67/77 | €2,296 | €1,413 | -€882 | -38.4% |
| Profit (loss) for the period | 9904 | €19,415 | €2,197 | -€17,218 | -88.7% |
| Profit (loss) for the period to be appropriated | 9905 | €19,415 | €2,197 | -€17,218 | -88.7% |
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 3 October 2026 via checked.be.