ITLV: 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.
ITLV
Largest movements
- Receivables within one year +€8,524
up €8,524 (+45.2%), from €18,862 to €27,386
of which Trade receivables: +€5,197
- Cash +€1,275
up €1,275 (+2.9%), from €44,617 to €45,892
mainly Net result for the year (+€10,722) and Other debts (+€10,512)
- Tangible fixed assets +€964
new in 2025: €964
- Other debts +€10,512
up €10,512 (+80.1%), from €13,126 to €23,638
- Gross operating margin -€8,645
down €8,645 (-38.2%), from €22,660 to €14,014
- Taxes -€3,478
down €3,478 (-56.5%), from €6,158 to €2,680
- Other operating charges +€400
new in 2025: €400
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 | €64,102 | €74,878 | +€10,776 | +16.8% |
| Fixed assets | 21/28 | - | €964 | +€964 | |
| Tangible fixed assets | 22/27 | - | €964 | +€964 | |
| Furniture and vehicles | 24 | - | €964 | +€964 | |
| Current assets | 29/58 | €64,102 | €73,913 | +€9,811 | +15.3% |
| Amounts receivable within one year | 40/41 | €18,862 | €27,386 | +€8,524 | +45.2% |
| Trade receivables | 40 | €18,862 | €24,059 | +€5,197 | +27.6% |
| Other amounts receivable | 41 | - | €3,327 | +€3,327 | |
| Cash at bank and in hand | 54/58 | €44,617 | €45,892 | +€1,275 | +2.9% |
| Deferred charges and accrued income | 490/1 | €623 | €636 | +€12 | +2.0% |
| Total equity and liabilities | 10/49 | €64,102 | €74,878 | +€10,776 | +16.8% |
| Equity | 10/15 | €46,502 | €46,502 | = | 0.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €43,502 | €43,502 | = | 0.0% |
| Distributable reserves | 133 | €43,502 | €43,502 | = | 0.0% |
| Amounts payable | 17/49 | €17,600 | €28,376 | +€10,776 | +61.2% |
| Amounts payable within one year | 42/48 | €17,600 | €28,376 | +€10,776 | +61.2% |
| Trade debts | 44 | €2,190 | €2,081 | -€109 | -5.0% |
| Suppliers | 440/4 | €2,190 | €2,081 | -€109 | -5.0% |
| Taxes, remuneration and social security | 45 | €2,285 | €2,657 | +€372 | +16.3% |
| Taxes | 450/3 | €2,285 | €2,657 | +€372 | +16.3% |
| Other amounts payable | 47/48 | €13,126 | €23,638 | +€10,512 | +80.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €100 | +€100 | |
| Other operating charges | 640/8 | - | €400 | +€400 | |
| Non-recurring operating charges | 66A | €341 | - | -€341 | |
| Gross operating margin | 9900 | €22,660 | €14,014 | -€8,645 | -38.2% |
| Operating profit (loss) | 9901 | €22,318 | €13,515 | -€8,804 | -39.4% |
| Financial income | 75/76B | €46 | €51 | +€5 | +11.4% |
| Recurring financial income | 75 | €46 | €51 | +€5 | +11.4% |
| Financial charges | 65/66B | €158 | €164 | +€6 | +3.8% |
| Recurring financial charges | 65 | €158 | €164 | +€6 | +3.8% |
| Profit (loss) for the period before taxes | 9903 | €22,206 | €13,402 | -€8,804 | -39.6% |
| Income taxes | 67/77 | €6,158 | €2,680 | -€3,478 | -56.5% |
| Profit (loss) for the period | 9904 | €16,049 | €10,722 | -€5,327 | -33.2% |
| Profit (loss) for the period to be appropriated | 9905 | €16,049 | €10,722 | -€5,327 | -33.2% |
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 30 September 2026 via checked.be.