ITERAR: what changed
Two financial 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.
ITERAR
Largest movements
- Current investments -€110,000
down €110,000 (-100%), from €110,000 to €0
- Receivables within one year -€64,706
down €64,706 (-48.3%), from €134,085 to €69,379
of which Other amounts receivable: -€73,056
- Cash -€59,672
down €59,672 (-50.6%), from €118,031 to €58,359
mainly Contributions, distributions and other (-€420,205) and Tax, wage and social debts (-€23,135)
- Tangible fixed assets +€4,535
up €4,535 (+651%), from €696 to €5,231
- Reserves -€277,586
down €277,586 (-100%), from €277,586 to €0
- Other debts +€70,205
up €70,205, from €0 to €70,205
- Tax, wage and social debts -€23,135
down €23,135 (-27.4%), from €84,390 to €61,255
of which Taxes: -€21,844
- Gross operating margin +€18,120
up €18,120 (+10.7%), from €169,940 to €188,059
- Taxes +€5,488
up €5,488 (+14.3%), from €38,363 to €43,851
- Other operating charges -€2,677
down €2,677 (-54.1%), from €4,952 to €2,274
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.
Derived cash bridge
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 | €364,483 | €136,738 | -€227,746 | -62.5% |
| Fixed assets | 21/28 | €746 | €5,281 | +€4,535 | +608% |
| Tangible fixed assets | 22/27 | €696 | €5,231 | +€4,535 | +651% |
| Plant, machinery and equipment | 23 | €696 | €5,231 | +€4,535 | +651% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €363,737 | €131,457 | -€232,281 | -63.9% |
| Amounts receivable within one year | 40/41 | €134,085 | €69,379 | -€64,706 | -48.3% |
| Trade receivables | 40 | €52,476 | €60,827 | +€8,351 | +15.9% |
| Other amounts receivable | 41 | €81,608 | €8,552 | -€73,056 | -89.5% |
| Current investments | 50/53 | €110,000 | €0 | -€110,000 | -100% |
| Cash at bank and in hand | 54/58 | €118,031 | €58,359 | -€59,672 | -50.6% |
| Deferred charges and accrued income | 490/1 | €1,622 | €3,719 | +€2,097 | +129% |
| Total equity and liabilities | 10/49 | €364,483 | €136,738 | -€227,746 | -62.5% |
| Equity | 10/15 | €277,686 | €100 | -€277,586 | -100.0% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €277,586 | €0 | -€277,586 | -100% |
| Distributable reserves | 133 | €277,586 | €0 | -€277,586 | -100% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €86,797 | €136,638 | +€49,840 | +57.4% |
| Amounts payable within one year | 42/48 | €86,378 | €136,316 | +€49,938 | +57.8% |
| Financial debts | 43 | €12 | €0 | -€12 | -100% |
| Credit institutions | 430/8 | €12 | €0 | -€12 | -100% |
| Trade debts | 44 | €1,976 | €4,856 | +€2,880 | +146% |
| Suppliers | 440/4 | €1,976 | €4,856 | +€2,880 | +146% |
| Taxes, remuneration and social security | 45 | €84,390 | €61,255 | -€23,135 | -27.4% |
| Taxes | 450/3 | €83,099 | €61,255 | -€21,844 | -26.3% |
| Remuneration and social security | 454/9 | €1,291 | €0 | -€1,291 | -100% |
| Other amounts payable | 47/48 | €0 | €70,205 | +€70,205 | |
| Accrued charges and deferred income | 492/3 | €420 | €322 | -€98 | -23.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €356 | €965 | +€609 | +171% |
| Other operating charges | 640/8 | €4,952 | €2,274 | -€2,677 | -54.1% |
| Gross operating margin | 9900 | €169,940 | €188,059 | +€18,120 | +10.7% |
| Operating profit (loss) | 9901 | €164,632 | €184,820 | +€20,188 | +12.3% |
| Financial income | 75/76B | €3,261 | €2,450 | -€810 | -24.9% |
| Recurring financial income | 75 | €3,261 | €2,450 | -€810 | -24.9% |
| Financial charges | 65/66B | €928 | €801 | -€127 | -13.7% |
| Recurring financial charges | 65 | €928 | €801 | -€127 | -13.7% |
| Profit (loss) for the period before taxes | 9903 | €166,965 | €186,470 | +€19,505 | +11.7% |
| Income taxes | 67/77 | €38,363 | €43,851 | +€5,488 | +14.3% |
| Profit (loss) for the period | 9904 | €128,602 | €142,619 | +€14,017 | +10.9% |
| Profit (loss) for the period to be appropriated | 9905 | €128,602 | €142,619 | +€14,017 | +10.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.