ITHACA: 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.
ITHACA
Largest movements
- Cash +€119,442
up €119,442 (+52.1%), from €229,381 to €348,822
mainly Receivables within one year (+€75,946) and Net result for the year (+€64,004)
- Receivables within one year -€75,946
down €75,946 (-97.4%), from €77,935 to €1,989
of which Other amounts receivable: -€75,946
- Profit (loss) carried forward +€64,004
new in 2025: €64,004
- Tax, wage and social debts -€23,790
down €23,790 (-42.8%), from €55,545 to €31,756
of which Taxes: -€21,990
- Gross operating margin -€27,105
down €27,105 (-23.7%), from €114,331 to €87,226
- Taxes -€13,664
down €13,664 (-42.6%), from €32,064 to €18,400
- Financial income -€3,801
down €3,801 (-99.8%), from €3,810 to €9
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 | €317,923 | €358,040 | +€40,117 | +12.6% |
| Fixed assets | 21/28 | €10,608 | €7,229 | -€3,379 | -31.9% |
| Tangible fixed assets | 22/27 | €10,608 | €7,229 | -€3,379 | -31.9% |
| Furniture and vehicles | 24 | €10,608 | €7,229 | -€3,379 | -31.9% |
| Current assets | 29/58 | €307,316 | €350,811 | +€43,496 | +14.2% |
| Amounts receivable within one year | 40/41 | €77,935 | €1,989 | -€75,946 | -97.4% |
| Trade receivables | 40 | €566 | €566 | = | 0.0% |
| Other amounts receivable | 41 | €77,369 | €1,423 | -€75,946 | -98.2% |
| Cash at bank and in hand | 54/58 | €229,381 | €348,822 | +€119,442 | +52.1% |
| Total equity and liabilities | 10/49 | €317,923 | €358,040 | +€40,117 | +12.6% |
| Equity | 10/15 | €255,591 | €319,595 | +€64,004 | +25.0% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €255,091 | €255,091 | = | 0.0% |
| Distributable reserves | 133 | €255,091 | €255,091 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €64,004 | +€64,004 | |
| Amounts payable | 17/49 | €62,332 | €38,445 | -€23,887 | -38.3% |
| Amounts payable within one year | 42/48 | €62,332 | €38,445 | -€23,887 | -38.3% |
| Trade debts | 44 | €6,787 | €6,689 | -€98 | -1.4% |
| Suppliers | 440/4 | €6,787 | €6,689 | -€98 | -1.4% |
| Taxes, remuneration and social security | 45 | €55,545 | €31,756 | -€23,790 | -42.8% |
| Taxes | 450/3 | €53,745 | €31,756 | -€21,990 | -40.9% |
| Remuneration and social security | 454/9 | €1,800 | - | -€1,800 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,290 | €3,379 | +€89 | +2.7% |
| Other operating charges | 640/8 | €400 | €1,302 | +€902 | +225.5% |
| Gross operating margin | 9900 | €114,331 | €87,226 | -€27,105 | -23.7% |
| Operating profit (loss) | 9901 | €110,641 | €82,545 | -€28,096 | -25.4% |
| Financial income | 75/76B | €3,810 | €9 | -€3,801 | -99.8% |
| Recurring financial income | 75 | €3,810 | €9 | -€3,801 | -99.8% |
| Financial charges | 65/66B | €124 | €150 | +€27 | +21.5% |
| Recurring financial charges | 65 | €124 | €150 | +€27 | +21.5% |
| Profit (loss) for the period before taxes | 9903 | €114,327 | €82,404 | -€31,923 | -27.9% |
| Income taxes | 67/77 | €32,064 | €18,400 | -€13,664 | -42.6% |
| Profit (loss) for the period | 9904 | €82,263 | €64,004 | -€18,259 | -22.2% |
| Profit (loss) for the period to be appropriated | 9905 | €82,263 | €64,004 | -€18,259 | -22.2% |
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 29 September 2026 via checked.be.