ITERION: 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.
ITERION
Largest movements
- Tangible fixed assets +€253,232
up €253,232 (+746.0%), from €33,947 to €287,179
of which Land and buildings: +€266,888
- Cash -€39,004
down €39,004 (-56.2%), from €69,432 to €30,428
mainly Investment in fixed assets (net) (-€313,922) and Contributions, distributions and other (-€114,000)
- Debts after one year +€170,206
up €170,206 (+486.3%), from €35,000 to €205,206
- Other debts +€97,866
up €97,866 (+3467.3%), from €2,823 to €100,689
- Reserves -€70,379
down €70,379 (-92.0%), from €76,529 to €6,150
of which Distributable reserves: -€70,379
- Current portion of long-term debt +€9,758
new in 2025: €9,758
- Tax, wage and social debts +€6,748
up €6,748 (+128.3%), from €5,260 to €12,008
- Depreciation +€55,379
up €55,379 (+1042.6%), from €5,312 to €60,691
- Gross operating margin +€20,861
up €20,861 (+20.9%), from €100,022 to €120,883
- Taxes -€7,130
down €7,130 (-37.5%), from €19,011 to €11,880
- Financial charges +€2,841
up €2,841 (+240.8%), from €1,180 to €4,021
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 | €138,251 | €353,103 | +€214,852 | +155.4% |
| Fixed assets | 21/28 | €34,097 | €287,329 | +€253,232 | +742.7% |
| Tangible fixed assets | 22/27 | €33,947 | €287,179 | +€253,232 | +746.0% |
| Land and buildings | 22 | - | €266,888 | +€266,888 | |
| Plant, machinery and equipment | 23 | €3,147 | €950 | -€2,197 | -69.8% |
| Furniture and vehicles | 24 | €30,800 | €19,341 | -€11,459 | -37.2% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €104,154 | €65,774 | -€38,379 | -36.8% |
| Amounts receivable within one year | 40/41 | €31,757 | €33,532 | +€1,775 | +5.6% |
| Trade receivables | 40 | €30,150 | €33,532 | +€3,382 | +11.2% |
| Other amounts receivable | 41 | €1,607 | - | -€1,607 | |
| Cash at bank and in hand | 54/58 | €69,432 | €30,428 | -€39,004 | -56.2% |
| Deferred charges and accrued income | 490/1 | €2,965 | €1,814 | -€1,151 | -38.8% |
| Total equity and liabilities | 10/49 | €138,251 | €353,103 | +€214,852 | +155.4% |
| Equity | 10/15 | €95,079 | €24,700 | -€70,379 | -74.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €76,529 | €6,150 | -€70,379 | -92.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €74,674 | €4,295 | -€70,379 | -94.2% |
| Amounts payable | 17/49 | €43,172 | €328,403 | +€285,231 | +660.7% |
| Amounts payable after more than one year | 17 | €35,000 | €205,206 | +€170,206 | +486.3% |
| Financial debts | 170/4 | €35,000 | €205,206 | +€170,206 | +486.3% |
| Amounts payable within one year | 42/48 | €8,172 | €123,197 | +€115,025 | +1407.6% |
| Current portion of amounts payable after more than one year | 42 | - | €9,758 | +€9,758 | |
| Trade debts | 44 | €90 | €742 | +€653 | +728.9% |
| Suppliers | 440/4 | €90 | €742 | +€653 | +728.9% |
| Taxes, remuneration and social security | 45 | €5,260 | €12,008 | +€6,748 | +128.3% |
| Taxes | 450/3 | €5,260 | €12,008 | +€6,748 | +128.3% |
| Other amounts payable | 47/48 | €2,823 | €100,689 | +€97,866 | +3467.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,312 | €60,691 | +€55,379 | +1042.6% |
| Other operating charges | 640/8 | €658 | €674 | +€16 | +2.5% |
| Gross operating margin | 9900 | €100,022 | €120,883 | +€20,861 | +20.9% |
| Operating profit (loss) | 9901 | €94,053 | €59,518 | -€34,534 | -36.7% |
| Financial income | 75/76B | €4 | €4 | -€0 | -3.8% |
| Recurring financial income | 75 | €4 | €4 | -€0 | -3.8% |
| Financial charges | 65/66B | €1,180 | €4,021 | +€2,841 | +240.8% |
| Recurring financial charges | 65 | €1,180 | €4,021 | +€2,841 | +240.8% |
| Profit (loss) for the period before taxes | 9903 | €92,877 | €55,501 | -€37,375 | -40.2% |
| Income taxes | 67/77 | €19,011 | €11,880 | -€7,130 | -37.5% |
| Profit (loss) for the period | 9904 | €73,866 | €43,621 | -€30,245 | -40.9% |
| Profit (loss) for the period to be appropriated | 9905 | €73,866 | €43,621 | -€30,245 | -40.9% |
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 12 October 2026 via checked.be.