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 -€40,459
down €40,459 (-48.9%), from €82,799 to €42,339
mainly Contributions, distributions and other (-€38,300) and Debts after one year (-€18,577)
- Tangible fixed assets -€21,996
down €21,996 (-17.1%), from €128,994 to €106,998
of which Furniture and vehicles: -€22,813
- Receivables within one year +€14,464
up €14,464 (+94.7%), from €15,277 to €29,741
of which Trade receivables: +€14,455
- Current investments +€5,040
up €5,040 (+24.4%), from €20,629 to €25,669
- Reserves -€26,562
down €26,562 (-24.2%), from €109,978 to €83,415
- Debts after one year -€18,577
down €18,577 (-17.1%), from €108,588 to €90,011
- Gross operating margin +€5,081
up €5,081 (+9.4%), from €54,063 to €59,144
- Financial income -€2,698
down €2,698 (-96.0%), from €2,811 to €113
- Taxes +€1,639
up €1,639 (+31.3%), from €5,233 to €6,872
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 | €250,001 | €207,334 | -€42,667 | -17.1% |
| Fixed assets | 21/28 | €128,994 | €106,998 | -€21,996 | -17.1% |
| Tangible fixed assets | 22/27 | €128,994 | €106,998 | -€21,996 | -17.1% |
| Land and buildings | 22 | €5,567 | €16,126 | +€10,559 | +190% |
| Plant, machinery and equipment | 23 | €5,966 | €4,224 | -€1,742 | -29.2% |
| Furniture and vehicles | 24 | €45,461 | €22,648 | -€22,813 | -50.2% |
| Leasing and similar rights | 25 | €72,000 | €64,000 | -€8,000 | -11.1% |
| Current assets | 29/58 | €121,007 | €100,336 | -€20,671 | -17.1% |
| Amounts receivable within one year | 40/41 | €15,277 | €29,741 | +€14,464 | +94.7% |
| Trade receivables | 40 | €14,700 | €29,155 | +€14,455 | +98.3% |
| Other amounts receivable | 41 | €577 | €586 | +€10 | +1.6% |
| Current investments | 50/53 | €20,629 | €25,669 | +€5,040 | +24.4% |
| Cash at bank and in hand | 54/58 | €82,799 | €42,339 | -€40,459 | -48.9% |
| Deferred charges and accrued income | 490/1 | €2,303 | €2,586 | +€283 | +12.3% |
| Total equity and liabilities | 10/49 | €250,001 | €207,334 | -€42,667 | -17.1% |
| Equity | 10/15 | €116,178 | €89,615 | -€26,562 | -22.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €109,978 | €83,415 | -€26,562 | -24.2% |
| Distributable reserves | 133 | €109,978 | €83,415 | -€26,562 | -24.2% |
| Amounts payable | 17/49 | €133,824 | €117,719 | -€16,105 | -12.0% |
| Amounts payable after more than one year | 17 | €108,588 | €90,011 | -€18,577 | -17.1% |
| Financial debts | 170/4 | €108,588 | €90,011 | -€18,577 | -17.1% |
| Amounts payable within one year | 42/48 | €25,235 | €27,708 | +€2,472 | +9.8% |
| Current portion of amounts payable after more than one year | 42 | €18,061 | €18,577 | +€516 | +2.9% |
| Trade debts | 44 | €407 | €1,194 | +€787 | +194% |
| Suppliers | 440/4 | €407 | €1,194 | +€787 | +194% |
| Taxes, remuneration and social security | 45 | €6,768 | €7,937 | +€1,169 | +17.3% |
| Taxes | 450/3 | €6,768 | €7,937 | +€1,169 | +17.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,971 | €35,116 | +€145 | +0.4% |
| Other operating charges | 640/8 | €2,299 | €1,796 | -€503 | -21.9% |
| Gross operating margin | 9900 | €54,063 | €59,144 | +€5,081 | +9.4% |
| Operating profit (loss) | 9901 | €16,793 | €22,232 | +€5,439 | +32.4% |
| Financial income | 75/76B | €2,811 | €113 | -€2,698 | -96.0% |
| Recurring financial income | 75 | €2,811 | €113 | -€2,698 | -96.0% |
| Financial charges | 65/66B | €3,516 | €3,735 | +€219 | +6.2% |
| Recurring financial charges | 65 | €3,516 | €3,735 | +€219 | +6.2% |
| Profit (loss) for the period before taxes | 9903 | €16,087 | €18,609 | +€2,522 | +15.7% |
| Income taxes | 67/77 | €5,233 | €6,872 | +€1,639 | +31.3% |
| Profit (loss) for the period | 9904 | €10,854 | €11,738 | +€883 | +8.1% |
| Profit (loss) for the period to be appropriated | 9905 | €10,854 | €11,738 | +€883 | +8.1% |
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 16 October 2026 via checked.be.