ITFTM: 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.
ITFTM
Largest movements
- Receivables within one year +€11,047
up €11,047 (+69.3%), from €15,950 to €26,997
of which Trade receivables: +€5,711
- Cash -€6,251
down €6,251 (-79.9%), from €7,823 to €1,572
mainly Receivables within one year (-€11,047) and Net result for the year (-€3,027)
- Stocks and contracts -€5,200
down €5,200 (-36.3%), from €14,325 to €9,125
- Tangible fixed assets -€690
down €690 (-36.5%), from €1,892 to €1,202
- Profit (loss) carried forward -€3,027
down €3,027 (-16.9%), from €17,915 to €14,888
- Trade debts +€1,564
up €1,564 (+229%), from €683 to €2,247
- Gross operating margin -€4,492
down €4,492, from €2,709 to -€1,783
- Taxes +€536
up €536 (+313%), from €171 to €707
- Financial income +€150
up €150 (+20.4%), from €737 to €887
- Other operating charges +€39
up €39 (+6.0%), from €652 to €691
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 | €40,643 | €39,479 | -€1,164 | -2.9% |
| Fixed assets | 21/28 | €2,017 | €1,227 | -€790 | -39.2% |
| Tangible fixed assets | 22/27 | €1,892 | €1,202 | -€690 | -36.5% |
| Furniture and vehicles | 24 | €1,892 | €1,202 | -€690 | -36.5% |
| Financial fixed assets | 28 | €125 | €25 | -€100 | -80.0% |
| Current assets | 29/58 | €38,626 | €38,252 | -€374 | -1.0% |
| Stocks and contracts in progress | 3 | €14,325 | €9,125 | -€5,200 | -36.3% |
| Stocks | 30/36 | €14,325 | €9,125 | -€5,200 | -36.3% |
| Amounts receivable within one year | 40/41 | €15,950 | €26,997 | +€11,047 | +69.3% |
| Trade receivables | 40 | €5,872 | €11,583 | +€5,711 | +97.3% |
| Other amounts receivable | 41 | €10,078 | €15,414 | +€5,336 | +52.9% |
| Cash at bank and in hand | 54/58 | €7,823 | €1,572 | -€6,251 | -79.9% |
| Deferred charges and accrued income | 490/1 | €528 | €558 | +€30 | +5.7% |
| Total equity and liabilities | 10/49 | €40,643 | €39,479 | -€1,164 | -2.9% |
| Equity | 10/15 | €38,843 | €35,816 | -€3,027 | -7.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €928 | €928 | = | 0.0% |
| Distributable reserves | 133 | €928 | €928 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,915 | €14,888 | -€3,027 | -16.9% |
| Amounts payable | 17/49 | €1,800 | €3,663 | +€1,863 | +104% |
| Amounts payable within one year | 42/48 | €1,800 | €3,663 | +€1,863 | +104% |
| Trade debts | 44 | €683 | €2,247 | +€1,564 | +229% |
| Suppliers | 440/4 | €683 | €2,247 | +€1,564 | +229% |
| Taxes, remuneration and social security | 45 | €1,117 | €1,416 | +€299 | +26.8% |
| Taxes | 450/3 | €1,117 | €1,415 | +€298 | +26.7% |
| Remuneration and social security | 454/9 | - | €1 | +€1 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €691 | €690 | -€1 | -0.1% |
| Other operating charges | 640/8 | €652 | €691 | +€39 | +6.0% |
| Gross operating margin | 9900 | €2,709 | -€1,783 | -€4,492 | |
| Operating profit (loss) | 9901 | €1,366 | -€3,164 | -€4,530 | |
| Financial income | 75/76B | €737 | €887 | +€150 | +20.4% |
| Recurring financial income | 75 | €737 | €887 | +€150 | +20.4% |
| Financial charges | 65/66B | €40 | €43 | +€3 | +7.5% |
| Recurring financial charges | 65 | €40 | €43 | +€3 | +7.5% |
| Profit (loss) for the period before taxes | 9903 | €2,063 | -€2,320 | -€4,383 | |
| Income taxes | 67/77 | €171 | €707 | +€536 | +313% |
| Profit (loss) for the period | 9904 | €1,892 | -€3,027 | -€4,919 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,892 | -€3,027 | -€4,919 |
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 25 October 2026 via checked.be.