ITL: 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.
ITL
Largest movements
- Cash -€18,557
down €18,557 (-24.7%), from €75,248 to €56,691
mainly Contributions, distributions and other (-€60,000) and Investment in fixed assets (net) (-€8,533)
- Receivables within one year -€1,746
down €1,746 (-6.5%), from €26,680 to €24,935
of which Other amounts receivable: -€1,121
- Profit (loss) carried forward -€51,462
no longer reported in 2025 (was €51,462)
- Reserves +€25,134
new in 2025: €25,134
- Other debts +€13,527
up €13,527 (+36.0%), from €37,575 to €51,102
- Tax, wage and social debts -€3,792
down €3,792 (-24.3%), from €15,626 to €11,834
of which Taxes: -€6,397
- Current portion of long-term debt -€3,429
down €3,429 (-58.1%), from €5,905 to €2,476
- Gross operating margin +€7,550
up €7,550 (+16.8%), from €44,923 to €52,473
- Taxes +€1,125
up €1,125 (+13.3%), from €8,447 to €9,573
- Depreciation +€820
up €820 (+10.7%), from €7,681 to €8,500
- Financial income -€617
down €617 (-90.5%), from €682 to €65
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 | €115,402 | €95,844 | -€19,558 | -16.9% |
| Fixed assets | 21/28 | €11,864 | €11,896 | +€32 | +0.3% |
| Tangible fixed assets | 22/27 | €11,864 | €11,826 | -€38 | -0.3% |
| Furniture and vehicles | 24 | €11,864 | €11,826 | -€38 | -0.3% |
| Financial fixed assets | 28 | - | €70 | +€70 | |
| Current assets | 29/58 | €103,538 | €83,948 | -€19,590 | -18.9% |
| Amounts receivable within one year | 40/41 | €26,680 | €24,935 | -€1,746 | -6.5% |
| Trade receivables | 40 | €25,559 | €24,935 | -€625 | -2.4% |
| Other amounts receivable | 41 | €1,121 | - | -€1,121 | |
| Cash at bank and in hand | 54/58 | €75,248 | €56,691 | -€18,557 | -24.7% |
| Deferred charges and accrued income | 490/1 | €1,610 | €2,323 | +€712 | +44.2% |
| Total equity and liabilities | 10/49 | €115,402 | €95,844 | -€19,558 | -16.9% |
| Equity | 10/15 | €53,462 | €27,134 | -€26,327 | -49.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | - | €25,134 | +€25,134 | |
| Distributable reserves | 133 | - | €25,134 | +€25,134 | |
| Profit (loss) carried forward | 14 | €51,462 | - | -€51,462 | |
| Amounts payable | 17/49 | €61,941 | €68,710 | +€6,769 | +10.9% |
| Amounts payable after more than one year | 17 | €2,476 | - | -€2,476 | |
| Financial debts | 170/4 | €2,476 | - | -€2,476 | |
| Amounts payable within one year | 42/48 | €59,464 | €68,710 | +€9,246 | +15.5% |
| Current portion of amounts payable after more than one year | 42 | €5,905 | €2,476 | -€3,429 | -58.1% |
| Financial debts | 43 | €129 | €44 | -€85 | -65.9% |
| Credit institutions | 430/8 | €129 | €44 | -€85 | -65.9% |
| Trade debts | 44 | €230 | €3,254 | +€3,024 | +1317.7% |
| Suppliers | 440/4 | €230 | €3,254 | +€3,024 | +1317.7% |
| Taxes, remuneration and social security | 45 | €15,626 | €11,834 | -€3,792 | -24.3% |
| Taxes | 450/3 | €15,626 | €9,228 | -€6,397 | -40.9% |
| Remuneration and social security | 454/9 | - | €2,605 | +€2,605 | |
| Other amounts payable | 47/48 | €37,575 | €51,102 | +€13,527 | +36.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,681 | €8,500 | +€820 | +10.7% |
| Other operating charges | 640/8 | €525 | €609 | +€84 | +16.1% |
| Gross operating margin | 9900 | €44,923 | €52,473 | +€7,550 | +16.8% |
| Operating profit (loss) | 9901 | €36,718 | €43,364 | +€6,646 | +18.1% |
| Financial income | 75/76B | €682 | €65 | -€617 | -90.5% |
| Recurring financial income | 75 | €682 | €65 | -€617 | -90.5% |
| Financial charges | 65/66B | €473 | €183 | -€290 | -61.3% |
| Recurring financial charges | 65 | €473 | €183 | -€290 | -61.3% |
| Profit (loss) for the period before taxes | 9903 | €36,927 | €43,246 | +€6,319 | +17.1% |
| Income taxes | 67/77 | €8,447 | €9,573 | +€1,125 | +13.3% |
| Profit (loss) for the period | 9904 | €28,479 | €33,673 | +€5,194 | +18.2% |
| Profit (loss) for the period to be appropriated | 9905 | €28,479 | €33,673 | +€5,194 | +18.2% |
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 10 October 2026 via checked.be.