ITM Management: 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.
ITM Management
Largest movements
- Receivables within one year +€444,298
up €444,298 (+138.4%), from €321,014 to €765,312
of which Trade receivables: +€379,997
- Cash +€423,356
up €423,356 (+436.7%), from €96,954 to €520,310
mainly Debts after one year (+€464,800) and Tax, wage and social debts (+€234,616)
- Debts after one year +€464,800
up €464,800 (+210.4%), from €220,897 to €685,696
- Tax, wage and social debts +€234,616
up €234,616 (+1979.4%), from €11,853 to €246,468
of which Remuneration and social security: +€238,055
- Trade debts +€117,174
up €117,174 (+332.3%), from €35,258 to €152,433
- Profit (loss) carried forward +€41,428
up €41,428 (+103.7%), from €39,960 to €81,389
- Accrued charges and deferred income +€16,526
new in 2025: €16,526
- Gross operating margin +€1.2m
up €1.2m (+421.8%), from €282,010 to €1.5m
- Staff costs +€1.1m
up €1.1m (+420.3%), from €263,058 to €1.4m
- Purchases and services +€549,826
up €549,826 (+1242.2%), from €44,262 to €594,087
- Taxes +€33,923
up €33,923 (+986.4%), from €3,439 to €37,362
- Financial charges +€17,437
up €17,437 (+450.6%), from €3,870 to €21,307
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 | €417,968 | €1,292,512 | +€874,544 | +209.2% |
| Current assets | 29/58 | €417,968 | €1,292,512 | +€874,544 | +209.2% |
| Amounts receivable within one year | 40/41 | €321,014 | €765,312 | +€444,298 | +138.4% |
| Trade receivables | 40 | €320,255 | €700,253 | +€379,997 | +118.7% |
| Other amounts receivable | 41 | €759 | €65,060 | +€64,301 | +8473.1% |
| Cash at bank and in hand | 54/58 | €96,954 | €520,310 | +€423,356 | +436.7% |
| Deferred charges and accrued income | 490/1 | - | €6,890 | +€6,890 | |
| Total equity and liabilities | 10/49 | €417,968 | €1,292,512 | +€874,544 | +209.2% |
| Equity | 10/15 | €149,960 | €191,389 | +€41,428 | +27.6% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €10,000 | €10,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €39,960 | €81,389 | +€41,428 | +103.7% |
| Amounts payable | 17/49 | €268,008 | €1,101,124 | +€833,116 | +310.9% |
| Amounts payable after more than one year | 17 | €220,897 | €685,696 | +€464,800 | +210.4% |
| Other amounts payable | 178/9 | €220,897 | €685,696 | +€464,800 | +210.4% |
| Amounts payable within one year | 42/48 | €47,111 | €398,901 | +€351,790 | +746.7% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | -€0 | |
| Trade debts | 44 | €35,258 | €152,433 | +€117,174 | +332.3% |
| Suppliers | 440/4 | €35,258 | €152,433 | +€117,174 | +332.3% |
| Taxes, remuneration and social security | 45 | €11,853 | €246,468 | +€234,616 | +1979.4% |
| Taxes | 450/3 | €3,439 | - | -€3,439 | |
| Remuneration and social security | 454/9 | €8,414 | €246,468 | +€238,055 | +2829.3% |
| Accrued charges and deferred income | 492/3 | - | €16,526 | +€16,526 | |
| Goods, raw materials, services and sundry goods | 60/61 | €44,262 | €594,087 | +€549,826 | +1242.2% |
| Remuneration, social security and pensions | 62 | €263,058 | €1,368,792 | +€1.1m | +420.3% |
| Non-recurring operating charges | 66A | -€1,617 | €2,550 | +€4,167 | |
| Gross operating margin | 9900 | €282,010 | €1,471,439 | +€1.2m | +421.8% |
| Operating profit (loss) | 9901 | €20,569 | €100,097 | +€79,528 | +386.6% |
| Financial charges | 65/66B | €3,870 | €21,307 | +€17,437 | +450.6% |
| Recurring financial charges | 65 | €3,870 | €21,307 | +€17,437 | +450.6% |
| Profit (loss) for the period before taxes | 9903 | €16,700 | €78,791 | +€62,091 | +371.8% |
| Income taxes | 67/77 | €3,439 | €37,362 | +€33,923 | +986.4% |
| Profit (loss) for the period | 9904 | €13,261 | €41,428 | +€28,168 | +212.4% |
| Profit (loss) for the period to be appropriated | 9905 | €13,261 | €41,428 | +€28,168 | +212.4% |
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.