ITL BELGIUM: what changed
ITL BELGIUM
Largest movements
- Receivables within one year -€538,503
down €538,503 (-81.1%), from €663,777 to €125,274
of which Trade receivables: -€474,662
- Tangible fixed assets -€203,319
down €203,319 (-67.4%), from €301,836 to €98,518
of which Plant, machinery and equipment: -€118,498
- Deferred charges and accrued income -€65,777
down €65,777 (-95.4%), from €68,938 to €3,160
- Cash -€47,265
down €47,265 (-62.6%), from €75,461 to €28,196
mainly Trade debts (-€410,564) and Debts after one year (-€277,750)
- Stocks and contracts -€45,300
down €45,300 (-100%), from €45,300 to €0
- Trade debts -€410,564
down €410,564 (-86.5%), from €474,716 to €64,152
- Debts after one year -€277,750
down €277,750 (-66.8%), from €415,758 to €138,008
- Profit (loss) carried forward +€177,327
up €177,327 (+45.1%), from -€392,882 to -€215,555
- Advances received -€150,000
down €150,000 (-100%), from €150,000 to €0
- Tax, wage and social debts -€135,328
down €135,328 (-94.0%), from €143,961 to €8,633
of which Remuneration and social security: -€131,771
- Staff costs -€839,584
down €839,584 (-85.5%), from €981,667 to €142,083
- Gross operating margin -€539,258
down €539,258 (-54.6%), from €986,776 to €447,519
- Write-downs -€220,860
down €220,860, from €56,060 to -€164,800
- Other operating charges +€177,609
up €177,609 (+2,803%), from €6,336 to €183,944
- Depreciation -€56,172
down €56,172 (-46.4%), from €121,098 to €64,926
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,189,949 | €255,511 | -€934,438 | -78.5% |
| Fixed assets | 21/28 | €336,474 | €98,881 | -€237,593 | -70.6% |
| Intangible fixed assets | 21 | €17,969 | €0 | -€17,969 | -100% |
| Tangible fixed assets | 22/27 | €301,836 | €98,518 | -€203,319 | -67.4% |
| Land and buildings | 22 | €163,444 | €98,518 | -€64,926 | -39.7% |
| Plant, machinery and equipment | 23 | €118,498 | €0 | -€118,498 | -100% |
| Furniture and vehicles | 24 | €19,894 | €0 | -€19,894 | -100% |
| Financial fixed assets | 28 | €16,668 | €363 | -€16,305 | -97.8% |
| Current assets | 29/58 | €853,476 | €156,631 | -€696,845 | -81.6% |
| Stocks and contracts in progress | 3 | €45,300 | €0 | -€45,300 | -100% |
| Stocks | 30/36 | €45,300 | €0 | -€45,300 | -100% |
| Amounts receivable within one year | 40/41 | €663,777 | €125,274 | -€538,503 | -81.1% |
| Trade receivables | 40 | €598,903 | €124,241 | -€474,662 | -79.3% |
| Other amounts receivable | 41 | €64,874 | €1,033 | -€63,841 | -98.4% |
| Cash at bank and in hand | 54/58 | €75,461 | €28,196 | -€47,265 | -62.6% |
| Deferred charges and accrued income | 490/1 | €68,938 | €3,160 | -€65,777 | -95.4% |
| Total equity and liabilities | 10/49 | €1,189,949 | €255,511 | -€934,438 | -78.5% |
| Equity | 10/15 | -€229,939 | -€52,612 | +€177,327 | +77.1% |
| Contributions | 10/11 | €162,943 | €162,943 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€392,882 | -€215,555 | +€177,327 | +45.1% |
| Amounts payable | 17/49 | €1,419,888 | €308,124 | -€1.1m | -78.3% |
| Amounts payable after more than one year | 17 | €415,758 | €138,008 | -€277,750 | -66.8% |
| Financial debts | 170/4 | €415,758 | €138,008 | -€277,750 | -66.8% |
| Amounts payable within one year | 42/48 | €1,003,008 | €170,115 | -€832,892 | -83.0% |
| Current portion of amounts payable after more than one year | 42 | €82,968 | €77,750 | -€5,217 | -6.3% |
| Financial debts | 43 | €131,783 | €0 | -€131,783 | -100% |
| Credit institutions | 430/8 | €131,783 | €0 | -€131,783 | -100% |
| Trade debts | 44 | €474,716 | €64,152 | -€410,564 | -86.5% |
| Suppliers | 440/4 | €474,716 | €64,152 | -€410,564 | -86.5% |
| Advances received on contracts in progress | 46 | €150,000 | €0 | -€150,000 | -100% |
| Taxes, remuneration and social security | 45 | €143,961 | €8,633 | -€135,328 | -94.0% |
| Taxes | 450/3 | €4,496 | €938 | -€3,558 | -79.1% |
| Remuneration and social security | 454/9 | €139,465 | €7,695 | -€131,771 | -94.5% |
| Other amounts payable | 47/48 | €19,580 | €19,580 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,122 | €0 | -€1,122 | -100% |
| Non-recurring operating income | 76A | €401,589 | €200,750 | -€200,839 | -50.0% |
| Remuneration, social security and pensions | 62 | €981,667 | €142,083 | -€839,584 | -85.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €121,098 | €64,926 | -€56,172 | -46.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €56,060 | -€164,800 | -€220,860 | |
| Other operating charges | 640/8 | €6,336 | €183,944 | +€177,609 | +2,803% |
| Non-recurring operating charges | 66A | - | €29,285 | +€29,285 | |
| Gross operating margin | 9900 | €986,776 | €447,519 | -€539,258 | -54.6% |
| Operating profit (loss) | 9901 | -€178,385 | €192,080 | +€370,465 | |
| Financial income | 75/76B | €1,544 | €2,050 | +€506 | +32.7% |
| Recurring financial income | 75 | €1,544 | €2,050 | +€506 | +32.7% |
| Financial charges | 65/66B | €29,510 | €16,767 | -€12,743 | -43.2% |
| Recurring financial charges | 65 | €29,510 | €16,767 | -€12,743 | -43.2% |
| Profit (loss) for the period before taxes | 9903 | -€206,350 | €177,362 | +€383,713 | |
| Income taxes | 67/77 | €5,489 | €36 | -€5,453 | -99.3% |
| Profit (loss) for the period | 9904 | -€211,839 | €177,327 | +€389,166 | |
| Profit (loss) for the period to be appropriated | 9905 | -€211,839 | €177,327 | +€389,166 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.