ITERATE: 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.
ITERATE
Largest movements
- Cash -€30,415
down €30,415 (-60.3%), from €50,406 to €19,991
mainly Other debts (-€41,313) and Receivables within one year (-€12,913)
- Receivables within one year +€12,913
up €12,913 (+76.1%), from €16,967 to €29,879
of which Trade receivables: +€12,415
- Tangible fixed assets -€2,650
down €2,650 (-7.5%), from €35,400 to €32,750
of which Furniture and vehicles: -€8,499
- Other debts -€41,313
no longer reported in 2025 (was €41,313)
- Reserves +€39,951
up €39,951 (+4682.6%), from €853 to €40,804
of which Distributable reserves: +€39,951
- Tax, wage and social debts -€9,253
down €9,253 (-51.6%), from €17,931 to €8,678
of which Taxes: -€10,354
- Debts after one year -€9,022
down €9,022 (-66.0%), from €13,676 to €4,654
- Staff costs +€8,741
new in 2025: €8,741
- Gross operating margin +€3,786
up €3,786 (+5.5%), from €69,386 to €73,172
- Depreciation +€3,387
up €3,387 (+45.1%), from €7,506 to €10,893
- Taxes -€1,288
down €1,288 (-10.1%), from €12,790 to €11,502
- Financial charges -€1,085
down €1,085 (-46.1%), from €2,356 to €1,271
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 | €103,062 | €83,468 | -€19,594 | -19.0% |
| Fixed assets | 21/28 | €35,400 | €32,750 | -€2,650 | -7.5% |
| Tangible fixed assets | 22/27 | €35,400 | €32,750 | -€2,650 | -7.5% |
| Land and buildings | 22 | €876 | €8,299 | +€7,423 | +846.9% |
| Plant, machinery and equipment | 23 | €3,814 | €2,242 | -€1,573 | -41.2% |
| Furniture and vehicles | 24 | €30,709 | €22,209 | -€8,499 | -27.7% |
| Current assets | 29/58 | €67,662 | €50,718 | -€16,944 | -25.0% |
| Amounts receivable within one year | 40/41 | €16,967 | €29,879 | +€12,913 | +76.1% |
| Trade receivables | 40 | €16,967 | €29,381 | +€12,415 | +73.2% |
| Other amounts receivable | 41 | - | €498 | +€498 | |
| Cash at bank and in hand | 54/58 | €50,406 | €19,991 | -€30,415 | -60.3% |
| Deferred charges and accrued income | 490/1 | €289 | €847 | +€558 | +192.7% |
| Total equity and liabilities | 10/49 | €103,062 | €83,468 | -€19,594 | -19.0% |
| Equity | 10/15 | €19,453 | €59,404 | +€39,951 | +205.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €853 | €40,804 | +€39,951 | +4682.6% |
| Tax-exempt reserves | 132 | €853 | €853 | = | 0.0% |
| Distributable reserves | 133 | - | €39,951 | +€39,951 | |
| Amounts payable | 17/49 | €83,608 | €24,064 | -€59,545 | -71.2% |
| Amounts payable after more than one year | 17 | €13,676 | €4,654 | -€9,022 | -66.0% |
| Financial debts | 170/4 | €13,676 | €4,654 | -€9,022 | -66.0% |
| Amounts payable within one year | 42/48 | €69,932 | €19,410 | -€50,523 | -72.2% |
| Current portion of amounts payable after more than one year | 42 | €9,675 | €10,047 | +€372 | +3.8% |
| Trade debts | 44 | €1,014 | €684 | -€330 | -32.5% |
| Suppliers | 440/4 | €1,014 | €684 | -€330 | -32.5% |
| Taxes, remuneration and social security | 45 | €17,931 | €8,678 | -€9,253 | -51.6% |
| Taxes | 450/3 | €17,931 | €7,577 | -€10,354 | -57.7% |
| Remuneration and social security | 454/9 | - | €1,101 | +€1,101 | |
| Other amounts payable | 47/48 | €41,313 | - | -€41,313 | |
| Remuneration, social security and pensions | 62 | - | €8,741 | +€8,741 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,506 | €10,893 | +€3,387 | +45.1% |
| Other operating charges | 640/8 | €999 | €814 | -€186 | -18.6% |
| Gross operating margin | 9900 | €69,386 | €73,172 | +€3,786 | +5.5% |
| Operating profit (loss) | 9901 | €60,880 | €52,724 | -€8,156 | -13.4% |
| Financial income | 75/76B | €0 | €0 | -€0 | -45.5% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -45.5% |
| Financial charges | 65/66B | €2,356 | €1,271 | -€1,085 | -46.1% |
| Recurring financial charges | 65 | €2,356 | €1,271 | -€1,085 | -46.1% |
| Profit (loss) for the period before taxes | 9903 | €58,524 | €51,453 | -€7,071 | -12.1% |
| Income taxes | 67/77 | €12,790 | €11,502 | -€1,288 | -10.1% |
| Profit (loss) for the period | 9904 | €45,734 | €39,951 | -€5,783 | -12.6% |
| Profit (loss) for the period to be appropriated | 9905 | €45,734 | €39,951 | -€5,783 | -12.6% |
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.