ITEC: 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
ITEC
NACE 47.400, Retail sale of information and communication equipment
fiscal year 2022 against 2023filed annual accounts (NBB)
Net result for the year
€1.9m
2022 · €3.1m-€1.2m
Equity
€3.7m
2022 · €3.6m+€88,634
Cash
€209,931
2022 · €232,628-€22,696
Balance sheet total
€7.0m
2022 · €7.5m-€524,452
Largest movements
Assets
- Receivables within one year -€1.8m
down €1.8m (-52.0%), from €3.4m to €1.6m
of which Trade receivables: -€1.5m
- Intangible fixed assets +€1.2m
up €1.2m (+463.9%), from €259,125 to €1.5m
- Stocks and contracts +€686,069
up €686,069 (+28.7%), from €2.4m to €3.1m
- Tangible fixed assets -€527,799
down €527,799 (-46.0%), from €1.1m to €618,514
of which Plant, machinery and equipment: -€455,907
- Deferred charges and accrued income -€87,399
down €87,399 (-100.0%), from €87,399 to €0
Equity and liabilities
- Trade debts -€1.1m
down €1.1m (-64.0%), from €1.7m to €615,654
- Accrued charges and deferred income +€794,151
up €794,151 (+61.8%), from €1.3m to €2.1m
- Tax, wage and social debts -€376,506
down €376,506 (-38.1%), from €987,104 to €610,598
of which Taxes: -€413,423
- Profit (loss) carried forward +€88,634
up €88,634 (+2.8%), from €3.1m to €3.2m
Income statement
- Goods and materials +€5.1m
up €5.1m (+107.7%), from €4.7m to €9.7m
of which Purchases: +€4.8m
- Services and other goods -€3.0m
down €3.0m (-67.3%), from €4.4m to €1.4m
- Write-downs +€1.2m
up €1.2m (+12738.8%), from €9,786 to €1.3m
- Depreciation -€1.0m
down €1.0m (-54.4%), from €1.9m to €848,015
- Taxes -€543,356
down €543,356 (-45.1%), from €1.2m to €661,745
From the 2022 result to the 2023 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 2022
€3.1m
Turnover
+€397,109
Other operating income
+€122
Goods and materials
-€5.1m
Services and other goods
+€3.0m
Staff costs
+€9,039
Depreciation
+€1.0m
Write-downs
-€1.2m
Other operating charges
+€124,271
Other operating items
+€7,119
Financial income
+€26,047
Financial charges
+€3,381
Taxes
+€543,356
Result 2023
€1.9m
Cash bridge derived
Derived from the 2022 and 2023 balance sheets and the 2023 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€3.3m
Investment
-€1.5m
Financing
-€1.8m
Cash 2022
€232,628
From operations (derived)
+€3.3m
Net result for the year
+€1.9m
Depreciation
+€848,015
Stocks and contracts
-€686,069
Receivables within one year
+€1.8m
Deferred charges and accrued income
+€87,399
Trade debts
-€1.1m
Tax, wage and social debts
-€376,506
Other debts
+€62,277
Accrued charges and deferred income
+€794,151
Investment (derived)
-€1.5m
Investment in fixed assets (net)
-€1.5m
Financing
-€1.8m
Contributions, distributions and other
-€1.8m
Cash 2023
€209,931
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,544,846 | €7,020,394 | -€524,452 | -7.0% |
| Fixed assets | 21/28 | €1,417,225 | €2,091,600 | +€674,375 | +47.6% |
| Intangible fixed assets | 21 | €259,125 | €1,461,299 | +€1.2m | +463.9% |
| Tangible fixed assets | 22/27 | €1,146,312 | €618,514 | -€527,799 | -46.0% |
| Land and buildings | 22 | €6,373 | €4,557 | -€1,815 | -28.5% |
| Plant, machinery and equipment | 23 | €852,002 | €396,095 | -€455,907 | -53.5% |
| Furniture and vehicles | 24 | €280,727 | €213,535 | -€67,192 | -23.9% |
| Other tangible fixed assets | 26 | €7,211 | €4,326 | -€2,884 | -40.0% |
| Financial fixed assets | 28 | €11,787 | €11,787 | = | 0.0% |
| Other financial fixed assets | 284/8 | €11,787 | €11,787 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €11,787 | €11,787 | = | 0.0% |
| Current assets | 29/58 | €6,127,621 | €4,928,794 | -€1.2m | -19.6% |
| Stocks and contracts in progress | 3 | €2,393,258 | €3,079,327 | +€686,069 | +28.7% |
| Stocks | 30/36 | €2,393,258 | €3,079,327 | +€686,069 | +28.7% |
| Goods purchased for resale | 34 | €2,393,258 | €3,079,327 | +€686,069 | +28.7% |
| Amounts receivable within one year | 40/41 | €3,414,337 | €1,639,536 | -€1.8m | -52.0% |
| Trade receivables | 40 | €2,605,101 | €1,131,064 | -€1.5m | -56.6% |
| Other amounts receivable | 41 | €809,236 | €508,471 | -€300,765 | -37.2% |
| Cash at bank and in hand | 54/58 | €232,628 | €209,931 | -€22,696 | -9.8% |
| Deferred charges and accrued income | 490/1 | €87,399 | €0 | -€87,399 | -100.0% |
| Total equity and liabilities | 10/49 | €7,544,846 | €7,020,394 | -€524,452 | -7.0% |
| Equity | 10/15 | €3,564,172 | €3,652,806 | +€88,634 | +2.5% |
| Contributions | 10/11 | €378,369 | €378,369 | = | 0.0% |
| Capital | 10 | €378,369 | €378,369 | = | 0.0% |
| Issued capital | 100 | €378,369 | €378,369 | = | 0.0% |
| Reserves | 13 | €39,268 | €39,268 | = | 0.0% |
| Non-distributable reserves | 130/1 | €37,837 | €37,837 | = | 0.0% |
| Legal reserve | 130 | €37,837 | €37,837 | = | 0.0% |
| Distributable reserves | 133 | €1,432 | €1,432 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,146,535 | €3,235,169 | +€88,634 | +2.8% |
| Amounts payable | 17/49 | €3,980,674 | €3,367,588 | -€613,086 | -15.4% |
| Amounts payable within one year | 42/48 | €2,695,765 | €1,288,529 | -€1.4m | -52.2% |
| Trade debts | 44 | €1,708,661 | €615,654 | -€1.1m | -64.0% |
| Suppliers | 440/4 | €1,708,661 | €615,654 | -€1.1m | -64.0% |
| Taxes, remuneration and social security | 45 | €987,104 | €610,598 | -€376,506 | -38.1% |
| Taxes | 450/3 | €886,647 | €473,225 | -€413,423 | -46.6% |
| Remuneration and social security | 454/9 | €100,457 | €137,373 | +€36,916 | +36.7% |
| Other amounts payable | 47/48 | - | €62,277 | +€62,277 | |
| Accrued charges and deferred income | 492/3 | €1,284,909 | €2,079,060 | +€794,151 | +61.8% |
| Operating income | 70/76A | €16,658,518 | €17,062,868 | +€404,349 | +2.4% |
| Turnover | 70 | €16,612,633 | €17,009,742 | +€397,109 | +2.4% |
| Other operating income | 74 | €40,739 | €40,860 | +€122 | +0.3% |
| Non-recurring operating income | 76A | €5,147 | €12,266 | +€7,119 | +138.3% |
| Operating charges | 60/66A | €12,356,888 | €14,536,193 | +€2.2m | +17.6% |
| Goods for resale, raw materials and consumables | 60 | €4,693,159 | €9,746,188 | +€5.1m | +107.7% |
| Purchases | 600/8 | €5,572,456 | €10,387,298 | +€4.8m | +86.4% |
| Change in stocks: decrease (increase) | 609 | -€879,297 | -€641,111 | +€238,186 | +27.1% |
| Services and other goods | 61 | €4,423,925 | €1,448,418 | -€3.0m | -67.3% |
| Remuneration, social security and pensions | 62 | €1,243,619 | €1,234,580 | -€9,039 | -0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,859,550 | €848,015 | -€1.0m | -54.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €9,786 | €1,256,415 | +€1.2m | +12738.8% |
| Other operating charges | 640/8 | €126,850 | €2,578 | -€124,271 | -98.0% |
| Operating profit (loss) | 9901 | €4,301,630 | €2,526,674 | -€1.8m | -41.3% |
| Financial income | 75/76B | €48,781 | €74,828 | +€26,047 | +53.4% |
| Recurring financial income | 75 | €48,781 | €74,828 | +€26,047 | +53.4% |
| Income from current assets | 751 | €6,321 | €0 | -€6,321 | -100.0% |
| Other financial income | 752/9 | €42,460 | €74,828 | +€32,368 | +76.2% |
| Financial charges | 65/66B | €5,144 | €1,763 | -€3,381 | -65.7% |
| Recurring financial charges | 65 | €5,144 | €1,763 | -€3,381 | -65.7% |
| Debt charges | 650 | €176 | €116 | -€61 | -34.4% |
| Other financial charges | 652/9 | €4,968 | €1,647 | -€3,321 | -66.8% |
| Profit (loss) for the period before taxes | 9903 | €4,345,267 | €2,599,739 | -€1.7m | -40.2% |
| Income taxes | 67/77 | €1,205,101 | €661,745 | -€543,356 | -45.1% |
| Taxes | 670/3 | €1,205,101 | €661,745 | -€543,356 | -45.1% |
| Profit (loss) for the period | 9904 | €3,140,166 | €1,937,994 | -€1.2m | -38.3% |
| Profit (loss) for the period to be appropriated | 9905 | €3,140,166 | €1,937,994 | -€1.2m | -38.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2022 and 31 December 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.