ITENSO: 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.
ITENSO
Largest movements
- Receivables within one year +€324,615
up €324,615 (+41.0%), from €791,898 to €1.1m
of which Other amounts receivable: +€163,140
- Stocks and contracts -€49,991
no longer reported in 2025 (was €49,991)
- Cash +€47,625
up €47,625 (+968.8%), from €4,916 to €52,541
mainly Other debts (+€412,500) and Trade debts (+€51,437)
- Tangible fixed assets -€37,461
no longer reported in 2025 (was €37,461)
of which Plant, machinery and equipment: -€30,216
- Other debts +€412,500
up €412,500 (+165.0%), from €250,000 to €662,500
- Debts after one year -€166,140
down €166,140 (-22.4%), from €741,776 to €575,636
- Trade debts +€51,437
up €51,437 (+90.2%), from €57,017 to €108,454
- Gross operating margin +€129,907
up €129,907, from -€1,566 to €128,340
- Financial income -€89,884
down €89,884 (-99.8%), from €90,025 to €141
- Staff costs +€83,824
up €83,824 (+431.0%), from €19,448 to €103,272
- Depreciation -€17,887
down €17,887 (-82.6%), from €21,653 to €3,765
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 | €2,171,178 | €2,463,452 | +€292,273 | +13.5% |
| Fixed assets | 21/28 | €1,323,861 | €1,294,398 | -€29,463 | -2.2% |
| Intangible fixed assets | 21 | €0 | €7,998 | +€7,998 | |
| Tangible fixed assets | 22/27 | €37,461 | - | -€37,461 | |
| Land and buildings | 22 | €3,875 | - | -€3,875 | |
| Plant, machinery and equipment | 23 | €30,216 | - | -€30,216 | |
| Furniture and vehicles | 24 | €1,604 | - | -€1,604 | |
| Leasing and similar rights | 25 | €1,766 | - | -€1,766 | |
| Financial fixed assets | 28 | €1,286,400 | €1,286,400 | = | 0.0% |
| Current assets | 29/58 | €847,317 | €1,169,054 | +€321,737 | +38.0% |
| Stocks and contracts in progress | 3 | €49,991 | - | -€49,991 | |
| Stocks | 30/36 | €49,991 | - | -€49,991 | |
| Amounts receivable within one year | 40/41 | €791,898 | €1,116,513 | +€324,615 | +41.0% |
| Trade receivables | 40 | €164,638 | €326,113 | +€161,476 | +98.1% |
| Other amounts receivable | 41 | €627,260 | €790,400 | +€163,140 | +26.0% |
| Cash at bank and in hand | 54/58 | €4,916 | €52,541 | +€47,625 | +968.8% |
| Deferred charges and accrued income | 490/1 | €513 | - | -€513 | |
| Total equity and liabilities | 10/49 | €2,171,178 | €2,463,452 | +€292,273 | +13.5% |
| Equity | 10/15 | €950,160 | €940,273 | -€9,888 | -1.0% |
| Contributions | 10/11 | €700,000 | €700,000 | = | 0.0% |
| Reserves | 13 | €250,160 | €240,273 | -€9,888 | -4.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €250,160 | €240,273 | -€9,888 | -4.0% |
| Amounts payable | 17/49 | €1,221,018 | €1,523,179 | +€302,161 | +24.7% |
| Amounts payable after more than one year | 17 | €741,776 | €575,636 | -€166,140 | -22.4% |
| Financial debts | 170/4 | €741,776 | €575,636 | -€166,140 | -22.4% |
| Amounts payable within one year | 42/48 | €479,242 | €947,543 | +€468,301 | +97.7% |
| Current portion of amounts payable after more than one year | 42 | €171,469 | €172,725 | +€1,255 | +0.7% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €57,017 | €108,454 | +€51,437 | +90.2% |
| Suppliers | 440/4 | €57,017 | €108,454 | +€51,437 | +90.2% |
| Taxes, remuneration and social security | 45 | €755 | €3,864 | +€3,109 | +411.7% |
| Taxes | 450/3 | €120 | - | -€120 | |
| Remuneration and social security | 454/9 | €635 | €3,864 | +€3,229 | +508.5% |
| Other amounts payable | 47/48 | €250,000 | €662,500 | +€412,500 | +165.0% |
| Remuneration, social security and pensions | 62 | €19,448 | €103,272 | +€83,824 | +431.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,653 | €3,765 | -€17,887 | -82.6% |
| Other operating charges | 640/8 | €812 | €1,160 | +€348 | +42.9% |
| Non-recurring operating charges | 66A | - | €3,875 | +€3,875 | |
| Gross operating margin | 9900 | -€1,566 | €128,340 | +€129,907 | |
| Operating profit (loss) | 9901 | -€43,479 | €16,268 | +€59,747 | |
| Financial income | 75/76B | €90,025 | €141 | -€89,884 | -99.8% |
| Recurring financial income | 75 | €90,025 | €141 | -€89,884 | -99.8% |
| Financial charges | 65/66B | €27,321 | €26,297 | -€1,025 | -3.8% |
| Recurring financial charges | 65 | €27,321 | €26,297 | -€1,025 | -3.8% |
| Profit (loss) for the period before taxes | 9903 | €19,225 | -€9,888 | -€29,113 | |
| Income taxes | 67/77 | €124 | - | -€124 | |
| Profit (loss) for the period | 9904 | €19,101 | -€9,888 | -€28,988 | |
| Profit (loss) for the period to be appropriated | 9905 | €19,101 | -€9,888 | -€28,988 |
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 5 October 2026 via checked.be.