ITHAKA: 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.
ITHAKA
Largest movements
- Cash +€182,851
up €182,851 (+31.7%), from €576,804 to €759,655
mainly Contributions, distributions and other (+€117,198) and Net result for the year (+€116,416)
- Tangible fixed assets +€127,689
up €127,689 (+19.3%), from €660,574 to €788,263
of which Plant, machinery and equipment: +€139,609
- Receivables within one year -€113,459
down €113,459 (-65.4%), from €173,560 to €60,101
of which Other amounts receivable: -€118,252
- Reserves +€116,416
up €116,416 (+15.8%), from €737,189 to €853,605
- Contributions +€111,472
new in 2024: €111,472
- Debts after one year -€27,653
down €27,653 (-9.0%), from €306,301 to €278,648
- Gross operating margin +€221,288
up €221,288 (+16.1%), from €1.4m to €1.6m
- Staff costs +€153,451
up €153,451 (+12.5%), from €1.2m to €1.4m
- Depreciation +€20,662
up €20,662 (+42.2%), from €49,004 to €69,665
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,425,172 | €1,621,451 | +€196,279 | +13.8% |
| Fixed assets | 21/28 | €664,790 | €791,438 | +€126,647 | +19.1% |
| Intangible fixed assets | 21 | €3,766 | €2,825 | -€942 | -25.0% |
| Tangible fixed assets | 22/27 | €660,574 | €788,263 | +€127,689 | +19.3% |
| Land and buildings | 22 | €548,924 | €526,767 | -€22,157 | -4.0% |
| Plant, machinery and equipment | 23 | €85,778 | €225,387 | +€139,609 | +162.8% |
| Furniture and vehicles | 24 | €25,872 | €36,109 | +€10,237 | +39.6% |
| Financial fixed assets | 28 | €450 | €350 | -€100 | -22.2% |
| Current assets | 29/58 | €760,381 | €830,013 | +€69,632 | +9.2% |
| Stocks and contracts in progress | 3 | €3,314 | €2,505 | -€808 | -24.4% |
| Stocks | 30/36 | €3,314 | €2,505 | -€808 | -24.4% |
| Amounts receivable within one year | 40/41 | €173,560 | €60,101 | -€113,459 | -65.4% |
| Trade receivables | 40 | €9,867 | €14,659 | +€4,792 | +48.6% |
| Other amounts receivable | 41 | €163,693 | €45,441 | -€118,252 | -72.2% |
| Cash at bank and in hand | 54/58 | €576,804 | €759,655 | +€182,851 | +31.7% |
| Deferred charges and accrued income | 490/1 | €6,703 | €7,752 | +€1,048 | +15.6% |
| Total equity and liabilities | 10/49 | €1,425,172 | €1,621,451 | +€196,279 | +13.8% |
| Equity | 10/15 | €837,773 | €1,071,386 | +€233,613 | +27.9% |
| Contributions | 10/11 | - | €111,472 | +€111,472 | |
| Capital | 10 | - | €111,472 | +€111,472 | |
| Reserves | 13 | €737,189 | €853,605 | +€116,416 | +15.8% |
| Investment grants | 15 | €100,584 | €106,309 | +€5,726 | +5.7% |
| Amounts payable | 17/49 | €587,399 | €550,064 | -€37,334 | -6.4% |
| Amounts payable after more than one year | 17 | €306,301 | €278,648 | -€27,653 | -9.0% |
| Financial debts | 170/4 | €306,301 | €278,648 | -€27,653 | -9.0% |
| Amounts payable within one year | 42/48 | €271,908 | €264,896 | -€7,012 | -2.6% |
| Current portion of amounts payable after more than one year | 42 | €24,620 | €27,653 | +€3,034 | +12.3% |
| Trade debts | 44 | €44,229 | €8,903 | -€35,326 | -79.9% |
| Suppliers | 440/4 | €44,229 | €8,903 | -€35,326 | -79.9% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €202,007 | €227,262 | +€25,256 | +12.5% |
| Taxes | 450/3 | €41,167 | €47,219 | +€6,052 | +14.7% |
| Remuneration and social security | 454/9 | €160,839 | €180,043 | +€19,203 | +11.9% |
| Accrued charges and deferred income | 492/3 | €9,190 | €6,521 | -€2,669 | -29.0% |
| Non-recurring operating income | 76A | - | €1,500 | +€1,500 | |
| Remuneration, social security and pensions | 62 | €1,223,506 | €1,376,957 | +€153,451 | +12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,004 | €69,665 | +€20,662 | +42.2% |
| Other operating charges | 640/8 | €27,912 | €30,249 | +€2,338 | +8.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €1,376,864 | €1,598,151 | +€221,288 | +16.1% |
| Operating profit (loss) | 9901 | €76,442 | €121,280 | +€44,837 | +58.7% |
| Financial income | 75/76B | €1,056 | €1,527 | +€471 | +44.6% |
| Recurring financial income | 75 | €1,056 | €1,527 | +€471 | +44.6% |
| Financial charges | 65/66B | €5,896 | €5,311 | -€586 | -9.9% |
| Recurring financial charges | 65 | €5,896 | €5,311 | -€586 | -9.9% |
| Profit (loss) for the period before taxes | 9903 | €71,602 | €117,496 | +€45,894 | +64.1% |
| Income taxes | 67/77 | €1,808 | €1,080 | -€728 | -40.3% |
| Profit (loss) for the period | 9904 | €69,794 | €116,416 | +€46,622 | +66.8% |
| Profit (loss) for the period to be appropriated | 9905 | €69,794 | €116,416 | +€46,622 | +66.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.