ITIFAQ GROUP: 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.
ITIFAQ GROUP
Largest movements
- Stocks and contracts +€25,774
new in 2025: €25,774
- Receivables within one year +€9,579
up €9,579 (+216%), from €4,432 to €14,011
- Cash +€1,575
up €1,575 (+58.2%), from €2,707 to €4,282
mainly Trade debts (+€29,105) and Net result for the year (+€10,119)
- Trade debts +€29,105
up €29,105 (+204%), from €14,302 to €43,407
- Profit (loss) carried forward +€10,119
up €10,119 (+96.7%), from -€10,459 to -€341
- Tax, wage and social debts -€2,296
no longer reported in 2025 (was €2,296)
- Turnover +€87,398
up €87,398 (+56.3%), from €155,204 to €242,602
- Purchases and services +€83,170
up €83,170 (+64.5%), from €128,980 to €212,151
- Taxes -€5,894
no longer reported in 2025 (was €5,894)
- Staff costs +€4,414
up €4,414 (+29.3%), from €15,061 to €19,475
- Gross operating margin +€4,228
up €4,228 (+16.1%), from €26,223 to €30,451
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 | €7,139 | €44,066 | +€36,928 | +517% |
| Current assets | 29/58 | €7,139 | €44,066 | +€36,928 | +517% |
| Stocks and contracts in progress | 3 | - | €25,774 | +€25,774 | |
| Stocks | 30/36 | - | €25,774 | +€25,774 | |
| Amounts receivable within one year | 40/41 | €4,432 | €14,011 | +€9,579 | +216% |
| Other amounts receivable | 41 | €4,432 | €14,011 | +€9,579 | +216% |
| Cash at bank and in hand | 54/58 | €2,707 | €4,282 | +€1,575 | +58.2% |
| Total equity and liabilities | 10/49 | €7,139 | €44,066 | +€36,928 | +517% |
| Equity | 10/15 | -€9,459 | €659 | +€10,119 | |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,459 | -€341 | +€10,119 | +96.7% |
| Amounts payable | 17/49 | €16,598 | €43,407 | +€26,809 | +162% |
| Amounts payable within one year | 42/48 | €16,598 | €43,407 | +€26,809 | +162% |
| Trade debts | 44 | €14,302 | €43,407 | +€29,105 | +204% |
| Suppliers | 440/4 | €14,302 | €43,407 | +€29,105 | +204% |
| Taxes, remuneration and social security | 45 | €2,296 | - | -€2,296 | |
| Remuneration and social security | 454/9 | €2,296 | - | -€2,296 | |
| Turnover | 70 | €155,204 | €242,602 | +€87,398 | +56.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €128,980 | €212,151 | +€83,170 | +64.5% |
| Remuneration, social security and pensions | 62 | €15,061 | €19,475 | +€4,414 | +29.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,832 | - | -€1,832 | |
| Other operating charges | 640/8 | €1,696 | €672 | -€1,024 | -60.4% |
| Gross operating margin | 9900 | €26,223 | €30,451 | +€4,228 | +16.1% |
| Operating profit (loss) | 9901 | €7,633 | €10,304 | +€2,670 | +35.0% |
| Financial charges | 65/66B | €153 | €185 | +€32 | +20.9% |
| Recurring financial charges | 65 | €153 | €185 | +€32 | +20.9% |
| Profit (loss) for the period before taxes | 9903 | €7,480 | €10,119 | +€2,639 | +35.3% |
| Income taxes | 67/77 | €5,894 | - | -€5,894 | |
| Profit (loss) for the period | 9904 | €1,586 | €10,119 | +€8,532 | +538% |
| Profit (loss) for the period to be appropriated | 9905 | €1,586 | €10,119 | +€8,532 | +538% |
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 15 October 2026 via checked.be.