ITHACA: 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.
ITHACA
Largest movements
- Stocks and contracts +€5,950
up €5,950 (+172.5%), from €3,450 to €9,400
- Tangible fixed assets -€2,875
down €2,875 (-39.2%), from €7,325 to €4,450
of which Furniture and vehicles: -€2,074
- Cash +€1,890
up €1,890 (+33.7%), from €5,611 to €7,501
mainly Net result for the year (+€10,137) and Depreciation (+€2,875)
- Receivables within one year +€1,595
up €1,595 (+394.1%), from €405 to €1,999
of which Trade receivables: +€1,056
- Profit (loss) carried forward +€10,137
up €10,137 (+56.9%), from -€17,817 to -€7,680
- Other debts -€4,627
down €4,627 (-30.8%), from €15,038 to €10,411
- Tax, wage and social debts +€1,018
up €1,018 (+5400.4%), from €19 to €1,037
- Gross operating margin +€1,611
up €1,611 (+12.1%), from €13,273 to €14,884
- Taxes +€1,037
new in 2025: €1,037
- Depreciation -€515
down €515 (-15.2%), from €3,390 to €2,875
- Other operating charges -€213
down €213 (-21.1%), from €1,008 to €795
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 | €21,841 | €28,539 | +€6,698 | +30.7% |
| Fixed assets | 21/28 | €12,375 | €9,500 | -€2,875 | -23.2% |
| Tangible fixed assets | 22/27 | €7,325 | €4,450 | -€2,875 | -39.2% |
| Plant, machinery and equipment | 23 | €1,498 | €697 | -€801 | -53.5% |
| Furniture and vehicles | 24 | €5,827 | €3,753 | -€2,074 | -35.6% |
| Financial fixed assets | 28 | €5,050 | €5,050 | = | 0.0% |
| Current assets | 29/58 | €9,466 | €19,038 | +€9,573 | +101.1% |
| Stocks and contracts in progress | 3 | €3,450 | €9,400 | +€5,950 | +172.5% |
| Stocks | 30/36 | €3,450 | €9,400 | +€5,950 | +172.5% |
| Amounts receivable within one year | 40/41 | €405 | €1,999 | +€1,595 | +394.1% |
| Trade receivables | 40 | - | €1,056 | +€1,056 | |
| Other amounts receivable | 41 | €405 | €943 | +€539 | +133.1% |
| Cash at bank and in hand | 54/58 | €5,611 | €7,501 | +€1,890 | +33.7% |
| Deferred charges and accrued income | 490/1 | - | €138 | +€138 | |
| Total equity and liabilities | 10/49 | €21,841 | €28,539 | +€6,698 | +30.7% |
| Equity | 10/15 | €6,784 | €16,921 | +€10,137 | +149.4% |
| Contributions | 10/11 | €18,601 | €18,601 | = | 0.0% |
| Contributions outside capital | 11 | - | €18,601 | +€18,601 | |
| Other | 1109/19 | - | €18,601 | +€18,601 | |
| Reserves | 13 | €6,000 | €6,000 | = | 0.0% |
| Distributable reserves | 133 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€17,817 | -€7,680 | +€10,137 | +56.9% |
| Amounts payable | 17/49 | €15,057 | €11,618 | -€3,439 | -22.8% |
| Amounts payable within one year | 42/48 | €15,057 | €11,448 | -€3,609 | -24.0% |
| Taxes, remuneration and social security | 45 | €19 | €1,037 | +€1,018 | +5400.4% |
| Taxes | 450/3 | €19 | €1,037 | +€1,018 | +5400.4% |
| Other amounts payable | 47/48 | €15,038 | €10,411 | -€4,627 | -30.8% |
| Accrued charges and deferred income | 492/3 | - | €170 | +€170 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,390 | €2,875 | -€515 | -15.2% |
| Other operating charges | 640/8 | €1,008 | €795 | -€213 | -21.1% |
| Gross operating margin | 9900 | €13,273 | €14,884 | +€1,611 | +12.1% |
| Operating profit (loss) | 9901 | €8,875 | €11,214 | +€2,339 | +26.4% |
| Financial income | 75/76B | - | €5 | +€5 | |
| Recurring financial income | 75 | - | €5 | +€5 | |
| Financial charges | 65/66B | €45 | €45 | +€0 | +0.2% |
| Recurring financial charges | 65 | €45 | €45 | +€0 | +0.2% |
| Profit (loss) for the period before taxes | 9903 | €8,830 | €11,174 | +€2,344 | +26.5% |
| Income taxes | 67/77 | - | €1,037 | +€1,037 | |
| Profit (loss) for the period | 9904 | €8,830 | €10,137 | +€1,307 | +14.8% |
| Profit (loss) for the period to be appropriated | 9905 | €8,830 | €10,137 | +€1,307 | +14.8% |
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.