ITIES: 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.
ITIES
Largest movements
- Tangible fixed assets +€162,209
up €162,209 (+56.2%), from €288,652 to €450,861
of which Land and buildings: +€162,706
- Receivables within one year -€13,504
down €13,504 (-36.0%), from €37,475 to €23,970
of which Trade receivables: -€12,623
- Cash -€8,232
down €8,232 (-11.9%), from €68,946 to €60,714
mainly Investment in fixed assets (net) (-€174,641) and Contributions, distributions and other (-€50,000)
- Debts after one year +€78,232
up €78,232 (+42.4%), from €184,391 to €262,623
- Other debts +€27,675
up €27,675 (+61.1%), from €45,280 to €72,955
- Profit (loss) carried forward +€23,770
up €23,770 (+16.0%), from €148,251 to €172,021
- Current portion of long-term debt +€18,547
up €18,547 (+234.6%), from €7,907 to €26,454
- Tax, wage and social debts -€9,201
down €9,201 (-98.9%), from €9,300 to €99
- Gross operating margin +€37,654
up €37,654 (+35.2%), from €106,966 to €144,620
- Other operating charges +€23,550
up €23,550 (+723.2%), from €3,256 to €26,806
- Purchases and services +€22,997
up €22,997 (+18.1%), from €127,402 to €150,399
- Taxes +€2,921
up €2,921 (+16.2%), from €18,000 to €20,921
- Financial charges +€1,894
up €1,894 (+21.5%), from €8,797 to €10,691
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 | €395,725 | €536,197 | +€140,473 | +35.5% |
| Fixed assets | 21/28 | €288,652 | €450,861 | +€162,209 | +56.2% |
| Tangible fixed assets | 22/27 | €288,652 | €450,861 | +€162,209 | +56.2% |
| Land and buildings | 22 | €287,327 | €450,032 | +€162,706 | +56.6% |
| Furniture and vehicles | 24 | €1,325 | €828 | -€497 | -37.5% |
| Current assets | 29/58 | €107,073 | €85,336 | -€21,736 | -20.3% |
| Stocks and contracts in progress | 3 | €652 | €652 | = | 0.0% |
| Stocks | 30/36 | €652 | €652 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €37,475 | €23,970 | -€13,504 | -36.0% |
| Trade receivables | 40 | €27,475 | €14,852 | -€12,623 | -45.9% |
| Other amounts receivable | 41 | €10,000 | €9,118 | -€882 | -8.8% |
| Cash at bank and in hand | 54/58 | €68,946 | €60,714 | -€8,232 | -11.9% |
| Total equity and liabilities | 10/49 | €395,725 | €536,197 | +€140,473 | +35.5% |
| Equity | 10/15 | €148,361 | €172,131 | +€23,770 | +16.0% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Outside capital | 11 | €100 | €100 | = | 0.0% |
| Other | 1109/19 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €10 | €10 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10 | €10 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10 | €10 | = | 0.0% |
| Profit (loss) carried forward | 14 | €148,251 | €172,021 | +€23,770 | +16.0% |
| Amounts payable | 17/49 | €247,364 | €364,067 | +€116,703 | +47.2% |
| Amounts payable after more than one year | 17 | €184,391 | €262,623 | +€78,232 | +42.4% |
| Financial debts | 170/4 | €184,391 | €262,623 | +€78,232 | +42.4% |
| Amounts payable within one year | 42/48 | €62,972 | €101,443 | +€38,471 | +61.1% |
| Current portion of amounts payable after more than one year | 42 | €7,907 | €26,454 | +€18,547 | +234.6% |
| Trade debts | 44 | €486 | €1,935 | +€1,450 | +298.3% |
| Suppliers | 440/4 | €486 | €1,935 | +€1,450 | +298.3% |
| Taxes, remuneration and social security | 45 | €9,300 | €99 | -€9,201 | -98.9% |
| Taxes | 450/3 | €9,300 | €99 | -€9,201 | -98.9% |
| Other amounts payable | 47/48 | €45,280 | €72,955 | +€27,675 | +61.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €127,402 | €150,399 | +€22,997 | +18.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,710 | €12,432 | +€1,722 | +16.1% |
| Other operating charges | 640/8 | €3,256 | €26,806 | +€23,550 | +723.2% |
| Gross operating margin | 9900 | €106,966 | €144,620 | +€37,654 | +35.2% |
| Operating profit (loss) | 9901 | €92,999 | €105,382 | +€12,383 | +13.3% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €8,797 | €10,691 | +€1,894 | +21.5% |
| Recurring financial charges | 65 | €8,797 | €10,691 | +€1,894 | +21.5% |
| Profit (loss) for the period before taxes | 9903 | €84,203 | €94,691 | +€10,488 | +12.5% |
| Income taxes | 67/77 | €18,000 | €20,921 | +€2,921 | +16.2% |
| Profit (loss) for the period | 9904 | €66,203 | €73,770 | +€7,567 | +11.4% |
| Profit (loss) for the period to be appropriated | 9905 | €66,203 | €73,770 | +€7,567 | +11.4% |
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 3 October 2026 via checked.be.