ITE: 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.
ITE
Largest movements
- Cash -€1.1m
down €1.1m (-29.1%), from €3.7m to €2.6m
mainly Investment in fixed assets (net) (-€1.2m) and Stocks and contracts (-€128,233)
- Tangible fixed assets +€1.0m
up €1.0m (+49.8%), from €2.1m to €3.2m
of which Land and buildings: +€1.1m
- Stocks and contracts +€128,233
up €128,233 (+8.8%), from €1.5m to €1.6m
- Receivables within one year -€93,510
down €93,510 (-26.1%), from €358,322 to €264,812
of which Trade receivables: -€56,631
- Trade debts +€108,340
up €108,340 (+44.4%), from €243,824 to €352,164
- Write-downs -€271,195
new in 2025: -€271,195
- Financial income -€178,737
down €178,737 (-75.7%), from €236,222 to €57,485
- Staff costs -€157,363
down €157,363 (-11.7%), from €1.3m to €1.2m
- Gross operating margin -€137,962
down €137,962 (-10.2%), from €1.4m to €1.2m
- Financial charges +€70,818
up €70,818 (+134.0%), from €52,833 to €123,651
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 | €7,784,399 | €7,795,349 | +€10,950 | +0.1% |
| Fixed assets | 21/28 | €2,225,811 | €3,275,922 | +€1.1m | +47.2% |
| Intangible fixed assets | 21 | €117,103 | €117,805 | +€702 | +0.6% |
| Tangible fixed assets | 22/27 | €2,108,708 | €3,158,117 | +€1.0m | +49.8% |
| Land and buildings | 22 | €1,838,216 | €2,911,049 | +€1.1m | +58.4% |
| Plant, machinery and equipment | 23 | €63,392 | €50,359 | -€13,033 | -20.6% |
| Furniture and vehicles | 24 | €207,100 | €196,709 | -€10,391 | -5.0% |
| Current assets | 29/58 | €5,558,588 | €4,519,427 | -€1.0m | -18.7% |
| Stocks and contracts in progress | 3 | €1,450,273 | €1,578,506 | +€128,233 | +8.8% |
| Stocks | 30/36 | €1,450,273 | €1,578,506 | +€128,233 | +8.8% |
| Amounts receivable within one year | 40/41 | €358,322 | €264,812 | -€93,510 | -26.1% |
| Trade receivables | 40 | €284,754 | €228,123 | -€56,631 | -19.9% |
| Other amounts receivable | 41 | €73,568 | €36,689 | -€36,879 | -50.1% |
| Cash at bank and in hand | 54/58 | €3,714,559 | €2,634,586 | -€1.1m | -29.1% |
| Deferred charges and accrued income | 490/1 | €35,434 | €41,523 | +€6,089 | +17.2% |
| Total equity and liabilities | 10/49 | €7,784,399 | €7,795,349 | +€10,950 | +0.1% |
| Equity | 10/15 | €7,291,431 | €7,300,998 | +€9,567 | +0.1% |
| Contributions | 10/11 | €180,000 | €180,000 | = | 0.0% |
| Capital | 10 | €180,000 | €180,000 | = | 0.0% |
| Issued capital | 100 | €180,000 | €180,000 | = | 0.0% |
| Reserves | 13 | €18,000 | €18,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €18,000 | €18,000 | = | 0.0% |
| Legal reserve | 130 | €18,000 | €18,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,093,431 | €7,102,998 | +€9,567 | +0.1% |
| Amounts payable | 17/49 | €492,968 | €494,351 | +€1,383 | +0.3% |
| Amounts payable within one year | 42/48 | €429,718 | €494,351 | +€64,633 | +15.0% |
| Trade debts | 44 | €243,824 | €352,164 | +€108,340 | +44.4% |
| Suppliers | 440/4 | €243,824 | €352,164 | +€108,340 | +44.4% |
| Taxes, remuneration and social security | 45 | €163,436 | €122,187 | -€41,249 | -25.2% |
| Taxes | 450/3 | €1,422 | - | -€1,422 | |
| Remuneration and social security | 454/9 | €162,014 | €122,187 | -€39,827 | -24.6% |
| Other amounts payable | 47/48 | €22,458 | €20,000 | -€2,458 | -10.9% |
| Accrued charges and deferred income | 492/3 | €63,250 | - | -€63,250 | |
| Non-recurring operating income | 76A | €59,864 | €123,077 | +€63,213 | +105.6% |
| Remuneration, social security and pensions | 62 | €1,348,196 | €1,190,833 | -€157,363 | -11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €158,224 | €194,965 | +€36,741 | +23.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€271,195 | -€271,195 | |
| Other operating charges | 640/8 | €7,957 | €7,756 | -€201 | -2.5% |
| Gross operating margin | 9900 | €1,357,249 | €1,219,287 | -€137,962 | -10.2% |
| Operating profit (loss) | 9901 | -€157,128 | €96,928 | +€254,056 | |
| Financial income | 75/76B | €236,222 | €57,485 | -€178,737 | -75.7% |
| Recurring financial income | 75 | €236,222 | €57,485 | -€178,737 | -75.7% |
| Financial charges | 65/66B | €52,833 | €123,651 | +€70,818 | +134.0% |
| Recurring financial charges | 65 | €52,833 | €123,651 | +€70,818 | +134.0% |
| Profit (loss) for the period before taxes | 9903 | €26,261 | €30,762 | +€4,501 | +17.1% |
| Income taxes | 67/77 | €1,418 | €1,195 | -€223 | -15.7% |
| Profit (loss) for the period | 9904 | €24,843 | €29,567 | +€4,724 | +19.0% |
| Profit (loss) for the period to be appropriated | 9905 | €24,843 | €29,567 | +€4,724 | +19.0% |
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 4 October 2026 via checked.be.