Ithaca Quest: 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 Quest
Largest movements
- Cash -€237,420
down €237,420 (-69.5%), from €341,503 to €104,083
mainly Other debts (-€243,226) and Contributions, distributions and other (-€95,000)
- Other debts -€243,226
down €243,226 (-71.4%), from €340,609 to €97,383
- Tax, wage and social debts +€8,026
up €8,026 (+214.9%), from €3,735 to €11,762
of which Taxes: +€5,576
- Gross operating margin +€3,659
up €3,659 (+3.2%), from €116,156 to €119,816
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 | €373,075 | €135,173 | -€237,902 | -63.8% |
| Fixed assets | 21/28 | €8,379 | €7,867 | -€512 | -6.1% |
| Tangible fixed assets | 22/27 | €8,379 | €7,867 | -€512 | -6.1% |
| Furniture and vehicles | 24 | €2,517 | €2,605 | +€88 | +3.5% |
| Other tangible fixed assets | 26 | €5,862 | €5,262 | -€600 | -10.2% |
| Current assets | 29/58 | €364,696 | €127,306 | -€237,391 | -65.1% |
| Amounts receivable within one year | 40/41 | €20,393 | €19,856 | -€537 | -2.6% |
| Trade receivables | 40 | €20,393 | €19,856 | -€537 | -2.6% |
| Cash at bank and in hand | 54/58 | €341,503 | €104,083 | -€237,420 | -69.5% |
| Deferred charges and accrued income | 490/1 | €2,800 | €3,367 | +€567 | +20.2% |
| Total equity and liabilities | 10/49 | €373,075 | €135,173 | -€237,902 | -63.8% |
| Equity | 10/15 | €26,220 | €23,305 | -€2,915 | -11.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €7,620 | €4,705 | -€2,915 | -38.3% |
| Distributable reserves | 133 | €7,620 | €4,705 | -€2,915 | -38.3% |
| Amounts payable | 17/49 | €346,856 | €111,869 | -€234,987 | -67.7% |
| Amounts payable within one year | 42/48 | €346,856 | €111,369 | -€235,487 | -67.9% |
| Trade debts | 44 | €2,511 | €2,224 | -€287 | -11.4% |
| Suppliers | 440/4 | €2,511 | €2,224 | -€287 | -11.4% |
| Taxes, remuneration and social security | 45 | €3,735 | €11,762 | +€8,026 | +214.9% |
| Taxes | 450/3 | €3,735 | €9,312 | +€5,576 | +149.3% |
| Remuneration and social security | 454/9 | - | €2,450 | +€2,450 | |
| Other amounts payable | 47/48 | €340,609 | €97,383 | -€243,226 | -71.4% |
| Accrued charges and deferred income | 492/3 | - | €500 | +€500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,198 | €2,197 | +€1,000 | +83.5% |
| Other operating charges | 640/8 | €507 | €120 | -€387 | -76.3% |
| Gross operating margin | 9900 | €116,156 | €119,816 | +€3,659 | +3.2% |
| Operating profit (loss) | 9901 | €114,452 | €117,498 | +€3,047 | +2.7% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €158 | €101 | -€58 | -36.3% |
| Recurring financial charges | 65 | €158 | €101 | -€58 | -36.3% |
| Profit (loss) for the period before taxes | 9903 | €114,293 | €117,397 | +€3,104 | +2.7% |
| Income taxes | 67/77 | €24,236 | €25,312 | +€1,076 | +4.4% |
| Profit (loss) for the period | 9904 | €90,057 | €92,085 | +€2,028 | +2.3% |
| Profit (loss) for the period to be appropriated | 9905 | €90,057 | €92,085 | +€2,028 | +2.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.