ITINERIS: 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.
ITINERIS
Largest movements
- Current investments +€65,250
up €65,250 (+32.2%), from €202,732 to €267,982
- Receivables within one year -€33,866
down €33,866 (-73.0%), from €46,388 to €12,522
of which Trade receivables: -€34,034
- Tangible fixed assets -€17,098
down €17,098 (-4.9%), from €349,670 to €332,571
of which Land and buildings: -€11,678
- Stocks and contracts +€8,298
new in 2025: €8,298
- Reserves +€45,320
up €45,320 (+24.4%), from €185,889 to €231,209
- Debts after one year -€18,637
down €18,637 (-5.5%), from €337,358 to €318,721
- Gross operating margin +€4,496
up €4,496 (+4.5%), from €99,304 to €103,800
- Financial income -€1,343
down €1,343 (-61.4%), from €2,188 to €845
- Taxes +€1,328
up €1,328 (+6.3%), from €21,071 to €22,399
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 | €605,377 | €632,848 | +€27,471 | +4.5% |
| Fixed assets | 21/28 | €351,920 | €334,821 | -€17,098 | -4.9% |
| Tangible fixed assets | 22/27 | €349,670 | €332,571 | -€17,098 | -4.9% |
| Land and buildings | 22 | €310,587 | €298,908 | -€11,678 | -3.8% |
| Plant, machinery and equipment | 23 | €1,541 | €627 | -€913 | -59.3% |
| Furniture and vehicles | 24 | €1,068 | €890 | -€178 | -16.6% |
| Other tangible fixed assets | 26 | €36,474 | €32,145 | -€4,329 | -11.9% |
| Financial fixed assets | 28 | €2,250 | €2,250 | = | 0.0% |
| Current assets | 29/58 | €253,457 | €298,027 | +€44,570 | +17.6% |
| Stocks and contracts in progress | 3 | - | €8,298 | +€8,298 | |
| Stocks | 30/36 | - | €8,298 | +€8,298 | |
| Amounts receivable within one year | 40/41 | €46,388 | €12,522 | -€33,866 | -73.0% |
| Trade receivables | 40 | €44,911 | €10,876 | -€34,034 | -75.8% |
| Other amounts receivable | 41 | €1,477 | €1,645 | +€168 | +11.4% |
| Current investments | 50/53 | €202,732 | €267,982 | +€65,250 | +32.2% |
| Cash at bank and in hand | 54/58 | €3,073 | €7,024 | +€3,951 | +128.6% |
| Deferred charges and accrued income | 490/1 | €1,265 | €2,201 | +€937 | +74.1% |
| Total equity and liabilities | 10/49 | €605,377 | €632,848 | +€27,471 | +4.5% |
| Equity | 10/15 | €228,917 | €274,237 | +€45,320 | +19.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €185,889 | €231,209 | +€45,320 | +24.4% |
| Distributable reserves | 133 | €185,889 | €231,209 | +€45,320 | +24.4% |
| Profit (loss) carried forward | 14 | €36,828 | €36,828 | = | 0.0% |
| Amounts payable | 17/49 | €376,460 | €358,611 | -€17,848 | -4.7% |
| Amounts payable after more than one year | 17 | €337,358 | €318,721 | -€18,637 | -5.5% |
| Financial debts | 170/4 | €337,358 | €318,721 | -€18,637 | -5.5% |
| Amounts payable within one year | 42/48 | €39,101 | €39,890 | +€789 | +2.0% |
| Current portion of amounts payable after more than one year | 42 | €22,136 | €22,584 | +€448 | +2.0% |
| Financial debts | 43 | €39 | €33 | -€6 | -14.4% |
| Other loans | 439 | €39 | €33 | -€6 | -14.4% |
| Trade debts | 44 | €675 | €2,889 | +€2,214 | +327.7% |
| Suppliers | 440/4 | €675 | €2,889 | +€2,214 | +327.7% |
| Taxes, remuneration and social security | 45 | €16,251 | €14,383 | -€1,868 | -11.5% |
| Taxes | 450/3 | €16,251 | €14,383 | -€1,868 | -11.5% |
| Non-recurring operating income | 76A | - | €500 | +€500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,051 | €19,229 | -€822 | -4.1% |
| Other operating charges | 640/8 | €1,601 | €2,098 | +€496 | +31.0% |
| Non-recurring operating charges | 66A | €1,396 | €0 | -€1,396 | -100.0% |
| Gross operating margin | 9900 | €99,304 | €103,800 | +€4,496 | +4.5% |
| Operating profit (loss) | 9901 | €76,255 | €82,473 | +€6,218 | +8.2% |
| Financial income | 75/76B | €2,188 | €845 | -€1,343 | -61.4% |
| Recurring financial income | 75 | €2,188 | €845 | -€1,343 | -61.4% |
| Financial charges | 65/66B | €15,174 | €15,599 | +€425 | +2.8% |
| Recurring financial charges | 65 | €15,174 | €15,599 | +€425 | +2.8% |
| Profit (loss) for the period before taxes | 9903 | €63,269 | €67,719 | +€4,450 | +7.0% |
| Income taxes | 67/77 | €21,071 | €22,399 | +€1,328 | +6.3% |
| Profit (loss) for the period | 9904 | €42,198 | €45,320 | +€3,122 | +7.4% |
| Profit (loss) for the period to be appropriated | 9905 | €42,198 | €45,320 | +€3,122 | +7.4% |
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 12 October 2026 via checked.be.