ITINERA: 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.
ITINERA
Largest movements
- Cash +€109,955
up €109,955 (+183.0%), from €60,078 to €170,032
mainly Current investments (+€90,167) and Net result for the year (+€38,308)
- Current investments -€90,167
down €90,167 (-78.3%), from €115,167 to €25,000
- Receivables within one year -€17,110
down €17,110 (-18.7%), from €91,575 to €74,465
of which Trade receivables: -€14,688
- Intangible fixed assets -€3,193
down €3,193 (-70.4%), from €4,536 to €1,342
- Reserves +€38,308
up €38,308 (+52.0%), from €73,601 to €111,909
- Accrued charges and deferred income -€21,921
down €21,921 (-21.2%), from €103,359 to €81,438
- Trade debts -€15,152
down €15,152 (-19.0%), from €79,915 to €64,763
- Depreciation -€4,191
down €4,191 (-45.9%), from €9,125 to €4,933
- Gross operating margin +€2,685
up €2,685 (+4.3%), from €62,036 to €64,720
- Staff costs +€2,097
up €2,097 (+42.6%), from €4,922 to €7,019
- Financial income -€1,760
down €1,760 (-68.6%), from €2,568 to €807
of which Non-recurring financial income: -€1,170
- Taxes +€801
up €801 (+6.2%), from €12,996 to €13,797
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 | €283,277 | €283,948 | +€672 | +0.2% |
| Fixed assets | 21/28 | €8,748 | €5,464 | -€3,285 | -37.5% |
| Intangible fixed assets | 21 | €4,536 | €1,342 | -€3,193 | -70.4% |
| Tangible fixed assets | 22/27 | €1,612 | €1,521 | -€91 | -5.7% |
| Plant, machinery and equipment | 23 | €1,612 | €945 | -€667 | -41.4% |
| Other tangible fixed assets | 26 | - | €576 | +€576 | |
| Financial fixed assets | 28 | €2,601 | €2,601 | = | 0.0% |
| Current assets | 29/58 | €274,528 | €278,485 | +€3,956 | +1.4% |
| Amounts receivable within one year | 40/41 | €91,575 | €74,465 | -€17,110 | -18.7% |
| Trade receivables | 40 | €89,095 | €74,407 | -€14,688 | -16.5% |
| Other amounts receivable | 41 | €2,479 | €57 | -€2,422 | -97.7% |
| Current investments | 50/53 | €115,167 | €25,000 | -€90,167 | -78.3% |
| Cash at bank and in hand | 54/58 | €60,078 | €170,032 | +€109,955 | +183.0% |
| Deferred charges and accrued income | 490/1 | €7,710 | €8,988 | +€1,278 | +16.6% |
| Total equity and liabilities | 10/49 | €283,277 | €283,948 | +€672 | +0.2% |
| Equity | 10/15 | €93,601 | €131,909 | +€38,308 | +40.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €73,601 | €111,909 | +€38,308 | +52.0% |
| Distributable reserves | 133 | €73,601 | €111,909 | +€38,308 | +52.0% |
| Amounts payable | 17/49 | €189,675 | €152,039 | -€37,636 | -19.8% |
| Amounts payable within one year | 42/48 | €86,316 | €70,601 | -€15,715 | -18.2% |
| Trade debts | 44 | €79,915 | €64,763 | -€15,152 | -19.0% |
| Suppliers | 440/4 | €79,915 | €64,763 | -€15,152 | -19.0% |
| Taxes, remuneration and social security | 45 | €6,382 | €5,820 | -€563 | -8.8% |
| Taxes | 450/3 | €6,382 | €5,820 | -€563 | -8.8% |
| Other amounts payable | 47/48 | €19 | €19 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €103,359 | €81,438 | -€21,921 | -21.2% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €4,922 | €7,019 | +€2,097 | +42.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,125 | €4,933 | -€4,191 | -45.9% |
| Other operating charges | 640/8 | €806 | €1,205 | +€399 | +49.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €62,036 | €64,720 | +€2,685 | +4.3% |
| Operating profit (loss) | 9901 | €47,183 | €51,563 | +€4,380 | +9.3% |
| Financial income | 75/76B | €2,568 | €807 | -€1,760 | -68.6% |
| Recurring financial income | 75 | €1,398 | €807 | -€590 | -42.2% |
| Non-recurring financial income | 76B | €1,170 | €0 | -€1,170 | -100.0% |
| Financial charges | 65/66B | €312 | €265 | -€47 | -14.9% |
| Recurring financial charges | 65 | €312 | €265 | -€47 | -14.9% |
| Profit (loss) for the period before taxes | 9903 | €49,439 | €52,105 | +€2,666 | +5.4% |
| Income taxes | 67/77 | €12,996 | €13,797 | +€801 | +6.2% |
| Profit (loss) for the period | 9904 | €36,442 | €38,308 | +€1,865 | +5.1% |
| Profit (loss) for the period to be appropriated | 9905 | €36,442 | €38,308 | +€1,865 | +5.1% |
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 4 October 2026 via checked.be.