ITEGMA: 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.
ITEGMA
Largest movements
- Receivables within one year -€7,176
down €7,176 (-71.2%), from €10,083 to €2,907
- Cash -€7,067
down €7,067 (-21.9%), from €32,296 to €25,229
mainly Net result for the year (-€19,548) and Trade debts (-€398)
- Tangible fixed assets -€6,072
down €6,072 (-26.2%), from €23,139 to €17,067
of which Plant, machinery and equipment: -€6,057
- Reserves -€19,548
down €19,548 (-27.1%), from €72,080 to €52,532
- Gross operating margin -€25,126
down €25,126, from €12,445 to -€12,681
- Financial income -€5,520
no longer reported in 2025 (was €5,520)
of which Non-recurring financial income: -€5,500
- Other operating charges -€4,979
down €4,979 (-87.1%), from €5,718 to €739
- Taxes -€3,188
down €3,188 (-99.6%), from €3,202 to €14
- Depreciation -€1,673
down €1,673 (-21.6%), from €7,745 to €6,072
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 | €80,676 | €60,461 | -€20,215 | -25.1% |
| Fixed assets | 21/28 | €23,139 | €17,067 | -€6,072 | -26.2% |
| Tangible fixed assets | 22/27 | €23,139 | €17,067 | -€6,072 | -26.2% |
| Plant, machinery and equipment | 23 | €23,124 | €17,067 | -€6,057 | -26.2% |
| Furniture and vehicles | 24 | €15 | - | -€15 | |
| Current assets | 29/58 | €57,537 | €43,394 | -€14,143 | -24.6% |
| Amounts receivable within one year | 40/41 | €10,083 | €2,907 | -€7,176 | -71.2% |
| Other amounts receivable | 41 | €10,083 | €2,907 | -€7,176 | -71.2% |
| Current investments | 50/53 | €15,158 | €15,258 | +€100 | +0.7% |
| Cash at bank and in hand | 54/58 | €32,296 | €25,229 | -€7,067 | -21.9% |
| Total equity and liabilities | 10/49 | €80,676 | €60,461 | -€20,215 | -25.1% |
| Equity | 10/15 | €78,280 | €58,732 | -€19,548 | -25.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €72,080 | €52,532 | -€19,548 | -27.1% |
| Distributable reserves | 133 | €72,080 | €52,532 | -€19,548 | -27.1% |
| Amounts payable | 17/49 | €2,396 | €1,729 | -€667 | -27.8% |
| Amounts payable within one year | 42/48 | €2,396 | €1,729 | -€667 | -27.8% |
| Trade debts | 44 | €428 | €30 | -€398 | -93.0% |
| Suppliers | 440/4 | €428 | €30 | -€398 | -93.0% |
| Taxes, remuneration and social security | 45 | - | €14 | +€14 | |
| Taxes | 450/3 | - | €14 | +€14 | |
| Other amounts payable | 47/48 | €1,968 | €1,685 | -€283 | -14.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,745 | €6,072 | -€1,673 | -21.6% |
| Other operating charges | 640/8 | €5,718 | €739 | -€4,979 | -87.1% |
| Gross operating margin | 9900 | €12,445 | -€12,681 | -€25,126 | |
| Operating profit (loss) | 9901 | -€1,018 | -€19,492 | -€18,474 | -1814.7% |
| Financial income | 75/76B | €5,520 | - | -€5,520 | |
| Recurring financial income | 75 | €20 | - | -€20 | |
| Non-recurring financial income | 76B | €5,500 | - | -€5,500 | |
| Financial charges | 65/66B | €1,287 | €42 | -€1,245 | -96.7% |
| Recurring financial charges | 65 | €40 | €42 | +€2 | +5.0% |
| Non-recurring financial charges | 66B | €1,247 | - | -€1,247 | |
| Profit (loss) for the period before taxes | 9903 | €3,215 | -€19,534 | -€22,749 | |
| Income taxes | 67/77 | €3,202 | €14 | -€3,188 | -99.6% |
| Profit (loss) for the period | 9904 | €13 | -€19,548 | -€19,561 | |
| Profit (loss) for the period to be appropriated | 9905 | €13 | -€19,548 | -€19,561 |
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 8 October 2026 via checked.be.