Itinero: 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.
Itinero
Largest movements
- Receivables within one year +€51,736
up €51,736 (+1671.6%), from €3,095 to €54,831
of which Trade receivables: +€42,404
- Cash -€30,471
down €30,471 (-72.9%), from €41,807 to €11,336
mainly Receivables within one year (-€51,736) and Contributions, distributions and other (-€30,141)
- Other debts +€21,022
up €21,022 (+220.8%), from €9,520 to €30,543
- Tax, wage and social debts -€9,780
down €9,780 (-53.7%), from €18,214 to €8,434
- Trade debts +€6,224
up €6,224 (+2278.7%), from €273 to €6,498
- Profit (loss) carried forward +€3,170
up €3,170, from -€3,170 to €0
- Gross operating margin +€25,368
up €25,368 (+141.1%), from €17,979 to €43,347
- Write-downs -€9,325
down €9,325 (-100.0%), from €9,325 to €0
- Taxes +€7,609
up €7,609 (+5453.7%), from €140 to €7,748
- Other operating charges -€894
down €894 (-52.3%), from €1,709 to €815
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 | €45,330 | €66,210 | +€20,880 | +46.1% |
| Fixed assets | 21/28 | €182 | €43 | -€139 | -76.4% |
| Tangible fixed assets | 22/27 | €182 | €43 | -€139 | -76.4% |
| Plant, machinery and equipment | 23 | €182 | €43 | -€139 | -76.4% |
| Current assets | 29/58 | €45,148 | €66,167 | +€21,019 | +46.6% |
| Amounts receivable within one year | 40/41 | €3,095 | €54,831 | +€51,736 | +1671.6% |
| Trade receivables | 40 | €2,920 | €45,324 | +€42,404 | +1452.2% |
| Other amounts receivable | 41 | €175 | €9,507 | +€9,332 | +5335.2% |
| Cash at bank and in hand | 54/58 | €41,807 | €11,336 | -€30,471 | -72.9% |
| Deferred charges and accrued income | 490/1 | €246 | €0 | -€246 | -100.0% |
| Total equity and liabilities | 10/49 | €45,330 | €66,210 | +€20,880 | +46.1% |
| Equity | 10/15 | €17,290 | €20,460 | +€3,170 | +18.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,170 | €0 | +€3,170 | |
| Amounts payable | 17/49 | €28,040 | €45,750 | +€17,710 | +63.2% |
| Amounts payable within one year | 42/48 | €28,040 | €45,750 | +€17,710 | +63.2% |
| Financial debts | 43 | €32 | €276 | +€243 | +749.1% |
| Credit institutions | 430/8 | €32 | €276 | +€243 | +749.1% |
| Trade debts | 44 | €273 | €6,498 | +€6,224 | +2278.7% |
| Suppliers | 440/4 | €273 | €6,498 | +€6,224 | +2278.7% |
| Taxes, remuneration and social security | 45 | €18,214 | €8,434 | -€9,780 | -53.7% |
| Taxes | 450/3 | €18,214 | €8,434 | -€9,780 | -53.7% |
| Other amounts payable | 47/48 | €9,520 | €30,543 | +€21,022 | +220.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €139 | €139 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €9,325 | €0 | -€9,325 | -100.0% |
| Other operating charges | 640/8 | €1,709 | €815 | -€894 | -52.3% |
| Gross operating margin | 9900 | €17,979 | €43,347 | +€25,368 | +141.1% |
| Operating profit (loss) | 9901 | €6,806 | €42,393 | +€35,588 | +522.9% |
| Financial income | 75/76B | €2 | €116 | +€114 | +5609.4% |
| Recurring financial income | 75 | €2 | €116 | +€114 | +5609.4% |
| Financial charges | 65/66B | €1,446 | €1,450 | +€4 | +0.3% |
| Recurring financial charges | 65 | €1,446 | €1,450 | +€4 | +0.3% |
| Profit (loss) for the period before taxes | 9903 | €5,362 | €41,059 | +€35,697 | +665.8% |
| Income taxes | 67/77 | €140 | €7,748 | +€7,609 | +5453.7% |
| Profit (loss) for the period | 9904 | €5,222 | €33,311 | +€28,088 | +537.9% |
| Profit (loss) for the period to be appropriated | 9905 | €5,222 | €33,311 | +€28,088 | +537.9% |
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 6 October 2026 via checked.be.