ITH Excellence: 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.
ITH Excellence
Largest movements
- Deferred charges and accrued income +€8,603
up €8,603 (+451.1%), from €1,907 to €10,511
- Cash +€2,071
up €2,071 (+3.9%), from €53,780 to €55,851
mainly Net result for the year (+€44,927) and Other debts (+€18,549)
- Receivables within one year +€1,128
up €1,128 (+8.6%), from €13,103 to €14,231
of which Trade receivables: +€944
- Other debts +€18,549
up €18,549 (+49.7%), from €37,294 to €55,844
- Tax, wage and social debts -€6,138
down €6,138 (-50.4%), from €12,171 to €6,033
of which Taxes: -€4,138
- Gross operating margin +€4,460
up €4,460 (+7.9%), from €56,668 to €61,128
- Taxes -€1,096
down €1,096 (-7.0%), from €15,600 to €14,504
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 | €70,532 | €82,871 | +€12,339 | +17.5% |
| Fixed assets | 21/28 | €1,742 | €2,278 | +€536 | +30.8% |
| Tangible fixed assets | 22/27 | €1,701 | €2,237 | +€536 | +31.5% |
| Furniture and vehicles | 24 | €1,701 | €2,237 | +€536 | +31.5% |
| Financial fixed assets | 28 | €41 | €41 | = | 0.0% |
| Current assets | 29/58 | €68,790 | €80,593 | +€11,803 | +17.2% |
| Amounts receivable within one year | 40/41 | €13,103 | €14,231 | +€1,128 | +8.6% |
| Trade receivables | 40 | €13,068 | €14,012 | +€944 | +7.2% |
| Other amounts receivable | 41 | €35 | €219 | +€184 | +523.5% |
| Cash at bank and in hand | 54/58 | €53,780 | €55,851 | +€2,071 | +3.9% |
| Deferred charges and accrued income | 490/1 | €1,907 | €10,511 | +€8,603 | +451.1% |
| Total equity and liabilities | 10/49 | €70,532 | €82,871 | +€12,339 | +17.5% |
| Equity | 10/15 | €21,067 | €20,994 | -€73 | -0.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,467 | €2,394 | -€73 | -3.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €607 | €534 | -€73 | -12.0% |
| Amounts payable | 17/49 | €49,465 | €61,877 | +€12,412 | +25.1% |
| Amounts payable within one year | 42/48 | €49,465 | €61,877 | +€12,412 | +25.1% |
| Taxes, remuneration and social security | 45 | €12,171 | €6,033 | -€6,138 | -50.4% |
| Taxes | 450/3 | €10,171 | €6,033 | -€4,138 | -40.7% |
| Remuneration and social security | 454/9 | €1,999 | - | -€1,999 | |
| Other amounts payable | 47/48 | €37,294 | €55,844 | +€18,549 | +49.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €924 | €1,058 | +€134 | +14.5% |
| Other operating charges | 640/8 | €486 | €501 | +€15 | +3.1% |
| Gross operating margin | 9900 | €56,668 | €61,128 | +€4,460 | +7.9% |
| Operating profit (loss) | 9901 | €55,258 | €59,569 | +€4,311 | +7.8% |
| Financial charges | 65/66B | €209 | €137 | -€71 | -34.2% |
| Recurring financial charges | 65 | €209 | €137 | -€71 | -34.2% |
| Profit (loss) for the period before taxes | 9903 | €55,049 | €59,431 | +€4,382 | +8.0% |
| Income taxes | 67/77 | €15,600 | €14,504 | -€1,096 | -7.0% |
| Profit (loss) for the period | 9904 | €39,449 | €44,927 | +€5,478 | +13.9% |
| Profit (loss) for the period to be appropriated | 9905 | €39,449 | €44,927 | +€5,478 | +13.9% |
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.