Itechs: what changed
What changed
Itechs
NACE 43.211, General electrical installation work
filed annual accounts (NBB)
Net result for the year
€38,476
2024 · €34,892+€3,584
Equity
€831,475
2024 · €792,999+€38,476
Cash
€327,627
2024 · €273,782+€53,845
Balance sheet total
€1.1m
2024 · €1.1m+€62,618
Largest movements
Assets
- Tangible fixed assets +€75,185
up €75,185 (+25.7%), from €292,416 to €367,602
of which Furniture and vehicles: +€53,825
- Cash +€53,845
up €53,845 (+19.7%), from €273,782 to €327,627
mainly Depreciation (+€51,417) and Receivables within one year (+€48,946)
- Receivables within one year -€48,946
down €48,946 (-10.1%), from €483,688 to €434,741
of which Trade receivables: -€54,988
- Deferred charges and accrued income -€15,515
down €15,515 (-68.2%), from €22,751 to €7,236
Equity and liabilities
- Reserves +€38,476
up €38,476 (+5.0%), from €774,399 to €812,875
Income statement
- Gross operating margin +€134,874
up €134,874 (+32.0%), from €421,043 to €555,917
- Staff costs +€127,699
up €127,699 (+41.8%), from €305,848 to €433,547
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€34,892
Gross operating margin
+€134,874
Staff costs
-€127,699
Depreciation
-€4,239
Other operating charges
+€1,887
Other operating items
-€1,199
Financial income
+€30
Financial charges
-€1,060
Taxes
+€989
Result 2025
€38,476
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€158,082
Investment
-€124,651
Financing
+€20,414
Cash 2024
€273,782
From operations (derived)
+€158,082
Net result for the year
+€38,476
Depreciation
+€51,417
Receivables within one year
+€48,946
Deferred charges and accrued income
+€15,515
Trade debts
-€5,129
Tax, wage and social debts
+€8,857
Investment (derived)
-€124,651
Investment in fixed assets (net)
-€124,651
Financing
+€20,414
Debts after one year
+€9,995
Current portion of long-term debt
+€10,405
Short-term financial debts
+€14
Cash 2025
€327,627
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,075,992 | €1,138,610 | +€62,618 | +5.8% |
| Fixed assets | 21/28 | €295,771 | €369,006 | +€73,234 | +24.8% |
| Intangible fixed assets | 21 | €2,705 | €754 | -€1,951 | -72.1% |
| Tangible fixed assets | 22/27 | €292,416 | €367,602 | +€75,185 | +25.7% |
| Land and buildings | 22 | €255,248 | €240,578 | -€14,670 | -5.7% |
| Plant, machinery and equipment | 23 | €21,463 | €57,494 | +€36,030 | +168% |
| Furniture and vehicles | 24 | €15,705 | €69,530 | +€53,825 | +343% |
| Financial fixed assets | 28 | €650 | €650 | = | 0.0% |
| Current assets | 29/58 | €780,221 | €769,604 | -€10,617 | -1.4% |
| Amounts receivable within one year | 40/41 | €483,688 | €434,741 | -€48,946 | -10.1% |
| Trade receivables | 40 | €473,215 | €418,227 | -€54,988 | -11.6% |
| Other amounts receivable | 41 | €10,473 | €16,514 | +€6,041 | +57.7% |
| Cash at bank and in hand | 54/58 | €273,782 | €327,627 | +€53,845 | +19.7% |
| Deferred charges and accrued income | 490/1 | €22,751 | €7,236 | -€15,515 | -68.2% |
| Total equity and liabilities | 10/49 | €1,075,992 | €1,138,610 | +€62,618 | +5.8% |
| Equity | 10/15 | €792,999 | €831,475 | +€38,476 | +4.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €774,399 | €812,875 | +€38,476 | +5.0% |
| Distributable reserves | 133 | €774,399 | €812,875 | +€38,476 | +5.0% |
| Amounts payable | 17/49 | €282,993 | €307,135 | +€24,142 | +8.5% |
| Amounts payable after more than one year | 17 | €203,495 | €213,490 | +€9,995 | +4.9% |
| Financial debts | 170/4 | €203,495 | €213,490 | +€9,995 | +4.9% |
| Amounts payable within one year | 42/48 | €79,498 | €93,645 | +€14,147 | +17.8% |
| Current portion of amounts payable after more than one year | 42 | €18,954 | €29,359 | +€10,405 | +54.9% |
| Financial debts | 43 | - | €14 | +€14 | |
| Credit institutions | 430/8 | - | €14 | +€14 | |
| Trade debts | 44 | €33,336 | €28,208 | -€5,129 | -15.4% |
| Suppliers | 440/4 | €33,336 | €28,208 | -€5,129 | -15.4% |
| Taxes, remuneration and social security | 45 | €27,207 | €36,064 | +€8,857 | +32.6% |
| Taxes | 450/3 | €7,571 | €8,396 | +€825 | +10.9% |
| Remuneration and social security | 454/9 | €19,636 | €27,668 | +€8,032 | +40.9% |
| Non-recurring operating income | 76A | €0 | €8,271 | +€8,271 | |
| Remuneration, social security and pensions | 62 | €305,848 | €433,547 | +€127,699 | +41.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,178 | €51,417 | +€4,239 | +9.0% |
| Other operating charges | 640/8 | €7,070 | €5,184 | -€1,887 | -26.7% |
| Non-recurring operating charges | 66A | €0 | €1,199 | +€1,199 | |
| Gross operating margin | 9900 | €421,043 | €555,917 | +€134,874 | +32.0% |
| Operating profit (loss) | 9901 | €60,947 | €64,571 | +€3,624 | +5.9% |
| Financial income | 75/76B | €334 | €364 | +€30 | +8.9% |
| Recurring financial income | 75 | €334 | €364 | +€30 | +8.9% |
| Financial charges | 65/66B | €13,616 | €14,676 | +€1,060 | +7.8% |
| Recurring financial charges | 65 | €13,616 | €14,676 | +€1,060 | +7.8% |
| Profit (loss) for the period before taxes | 9903 | €47,665 | €50,260 | +€2,594 | +5.4% |
| Income taxes | 67/77 | €12,773 | €11,784 | -€989 | -7.7% |
| Profit (loss) for the period | 9904 | €34,892 | €38,476 | +€3,584 | +10.3% |
| Profit (loss) for the period to be appropriated | 9905 | €34,892 | €38,476 | +€3,584 | +10.3% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.