ITELK: 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.
ITELK
Largest movements
- Tangible fixed assets +€29,502
up €29,502 (+19.4%), from €152,394 to €181,896
of which Furniture and vehicles: +€21,700
- Cash -€17,529
down €17,529 (-16.5%), from €106,423 to €88,894
mainly Contributions, distributions and other (-€59,558) and Investment in fixed assets (net) (-€47,756)
- Receivables within one year -€14,022
down €14,022 (-46.0%), from €30,455 to €16,434
of which Other amounts receivable: -€18,555
- Reserves -€23,473
down €23,473 (-27.9%), from €84,007 to €60,534
- Debts after one year +€12,651
up €12,651 (+8.9%), from €142,100 to €154,752
- Current portion of long-term debt +€6,335
up €6,335 (+69.8%), from €9,075 to €15,410
- Gross operating margin +€13,927
up €13,927 (+23.1%), from €60,183 to €74,110
- Depreciation +€3,961
up €3,961 (+27.7%), from €14,293 to €18,254
- Taxes +€2,057
up €2,057 (+23.9%), from €8,603 to €10,660
- Other operating charges +€783
up €783 (+42.2%), from €1,858 to €2,641
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 | €290,333 | €288,323 | -€2,011 | -0.7% |
| Fixed assets | 21/28 | €152,419 | €181,921 | +€29,502 | +19.4% |
| Tangible fixed assets | 22/27 | €152,394 | €181,896 | +€29,502 | +19.4% |
| Land and buildings | 22 | €143,103 | €150,905 | +€7,802 | +5.5% |
| Furniture and vehicles | 24 | €9,291 | €30,991 | +€21,700 | +233.6% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €137,915 | €106,402 | -€31,513 | -22.8% |
| Amounts receivable within one year | 40/41 | €30,455 | €16,434 | -€14,022 | -46.0% |
| Trade receivables | 40 | €11,860 | €16,394 | +€4,534 | +38.2% |
| Other amounts receivable | 41 | €18,595 | €39 | -€18,555 | -99.8% |
| Cash at bank and in hand | 54/58 | €106,423 | €88,894 | -€17,529 | -16.5% |
| Deferred charges and accrued income | 490/1 | €1,036 | €1,074 | +€38 | +3.7% |
| Total equity and liabilities | 10/49 | €290,333 | €288,323 | -€2,011 | -0.7% |
| Equity | 10/15 | €102,557 | €79,084 | -€23,473 | -22.9% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €84,007 | €60,534 | -€23,473 | -27.9% |
| Distributable reserves | 133 | €84,007 | €60,534 | -€23,473 | -27.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €187,777 | €209,239 | +€21,462 | +11.4% |
| Amounts payable after more than one year | 17 | €142,100 | €154,752 | +€12,651 | +8.9% |
| Financial debts | 170/4 | €142,100 | €154,752 | +€12,651 | +8.9% |
| Amounts payable within one year | 42/48 | €45,676 | €54,487 | +€8,811 | +19.3% |
| Current portion of amounts payable after more than one year | 42 | €9,075 | €15,410 | +€6,335 | +69.8% |
| Trade debts | 44 | €102 | €227 | +€125 | +123.2% |
| Suppliers | 440/4 | €102 | €227 | +€125 | +123.2% |
| Taxes, remuneration and social security | 45 | €4,923 | €7,191 | +€2,268 | +46.1% |
| Taxes | 450/3 | €4,923 | €7,191 | +€2,268 | +46.1% |
| Other amounts payable | 47/48 | €31,577 | €31,660 | +€83 | +0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,293 | €18,254 | +€3,961 | +27.7% |
| Other operating charges | 640/8 | €1,858 | €2,641 | +€783 | +42.2% |
| Non-recurring operating charges | 66A | - | €2,307 | +€2,307 | |
| Gross operating margin | 9900 | €60,183 | €74,110 | +€13,927 | +23.1% |
| Operating profit (loss) | 9901 | €44,032 | €50,907 | +€6,875 | +15.6% |
| Financial income | 75/76B | €428 | €416 | -€12 | -2.7% |
| Recurring financial income | 75 | €428 | €416 | -€12 | -2.7% |
| Financial charges | 65/66B | €4,279 | €4,578 | +€299 | +7.0% |
| Recurring financial charges | 65 | €4,279 | €4,578 | +€299 | +7.0% |
| Profit (loss) for the period before taxes | 9903 | €40,180 | €46,745 | +€6,565 | +16.3% |
| Income taxes | 67/77 | €8,603 | €10,660 | +€2,057 | +23.9% |
| Profit (loss) for the period | 9904 | €31,577 | €36,085 | +€4,508 | +14.3% |
| Profit (loss) for the period to be appropriated | 9905 | €31,577 | €36,085 | +€4,508 | +14.3% |
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.