ITHEOS: 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.
ITHEOS
Largest movements
- Cash +€99,922
up €99,922 (+88.6%), from €112,811 to €212,733
mainly Net result for the year (+€112,475) and Receivables within one year (+€43,396)
- Receivables within one year -€43,396
down €43,396 (-63.8%), from €68,039 to €24,643
of which Trade receivables: -€32,396
- Tangible fixed assets -€18,609
down €18,609 (-26.4%), from €70,540 to €51,932
of which Furniture and vehicles: -€17,761
- Other debts +€25,238
up €25,238 (+32.5%), from €77,746 to €102,984
- Profit (loss) carried forward +€12,475
up €12,475 (+9.7%), from €128,132 to €140,607
- Tax, wage and social debts +€5,775
up €5,775 (+38.3%), from €15,063 to €20,838
of which Taxes: +€5,135
- Trade debts -€5,425
down €5,425 (-43.2%), from €12,543 to €7,119
- Gross operating margin +€16,794
up €16,794 (+11.2%), from €150,294 to €167,088
- Taxes +€3,505
up €3,505 (+12.0%), from €29,179 to €32,683
- Depreciation +€1,788
up €1,788 (+8.8%), from €20,219 to €22,007
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.
Derived cash bridge
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 | €252,247 | €290,312 | +€38,064 | +15.1% |
| Fixed assets | 21/28 | €70,540 | €51,932 | -€18,609 | -26.4% |
| Tangible fixed assets | 22/27 | €70,540 | €51,932 | -€18,609 | -26.4% |
| Furniture and vehicles | 24 | €64,018 | €46,257 | -€17,761 | -27.7% |
| Other tangible fixed assets | 26 | €6,523 | €5,675 | -€847 | -13.0% |
| Current assets | 29/58 | €181,707 | €238,380 | +€56,673 | +31.2% |
| Amounts receivable within one year | 40/41 | €68,039 | €24,643 | -€43,396 | -63.8% |
| Trade receivables | 40 | €57,039 | €24,643 | -€32,396 | -56.8% |
| Other amounts receivable | 41 | €11,000 | - | -€11,000 | |
| Cash at bank and in hand | 54/58 | €112,811 | €212,733 | +€99,922 | +88.6% |
| Deferred charges and accrued income | 490/1 | €857 | €1,004 | +€147 | +17.1% |
| Total equity and liabilities | 10/49 | €252,247 | €290,312 | +€38,064 | +15.1% |
| Equity | 10/15 | €146,895 | €159,370 | +€12,475 | +8.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €163 | €163 | = | 0.0% |
| Distributable reserves | 133 | €163 | €163 | = | 0.0% |
| Profit (loss) carried forward | 14 | €128,132 | €140,607 | +€12,475 | +9.7% |
| Amounts payable | 17/49 | €105,352 | €130,941 | +€25,589 | +24.3% |
| Amounts payable within one year | 42/48 | €105,352 | €130,941 | +€25,589 | +24.3% |
| Trade debts | 44 | €12,543 | €7,119 | -€5,425 | -43.2% |
| Suppliers | 440/4 | €12,543 | €7,119 | -€5,425 | -43.2% |
| Taxes, remuneration and social security | 45 | €15,063 | €20,838 | +€5,775 | +38.3% |
| Taxes | 450/3 | €15,063 | €20,198 | +€5,135 | +34.1% |
| Remuneration and social security | 454/9 | - | €640 | +€640 | |
| Other amounts payable | 47/48 | €77,746 | €102,984 | +€25,238 | +32.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,219 | €22,007 | +€1,788 | +8.8% |
| Other operating charges | 640/8 | €199 | €289 | +€91 | +45.7% |
| Gross operating margin | 9900 | €150,294 | €167,088 | +€16,794 | +11.2% |
| Operating profit (loss) | 9901 | €129,876 | €144,792 | +€14,915 | +11.5% |
| Financial income | 75/76B | €448 | €411 | -€37 | -8.3% |
| Recurring financial income | 75 | €448 | €411 | -€37 | -8.3% |
| Financial charges | 65/66B | €489 | €44 | -€444 | -91.0% |
| Recurring financial charges | 65 | €489 | €44 | -€444 | -91.0% |
| Profit (loss) for the period before taxes | 9903 | €129,836 | €145,159 | +€15,323 | +11.8% |
| Income taxes | 67/77 | €29,179 | €32,683 | +€3,505 | +12.0% |
| Profit (loss) for the period | 9904 | €100,657 | €112,475 | +€11,818 | +11.7% |
| Profit (loss) for the period to be appropriated | 9905 | €100,657 | €112,475 | +€11,818 | +11.7% |
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 27 October 2026 via checked.be.