ITM-TERA: 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.
ITM-TERA
Largest movements
- Cash +€17,002
up €17,002 (+253%), from €6,732 to €23,734
mainly Net result for the year (+€16,109) and Depreciation (+€5,933)
- Receivables within one year +€13,733
up €13,733 (+71.4%), from €19,235 to €32,969
- Tangible fixed assets -€5,933
down €5,933 (-15.3%), from €38,789 to €32,856
of which Other tangible fixed assets: -€3,773
- Reserves +€15,000
up €15,000 (+146%), from €10,300 to €25,300
of which Distributable reserves: +€15,000
- Trade debts +€5,873
up €5,873 (+2,070%), from €284 to €6,156
- Tax, wage and social debts +€2,808
up €2,808 (+31.9%), from €8,814 to €11,622
of which Remuneration and social security: +€2,200
- Profit (loss) carried forward +€1,109
up €1,109 (+3.8%), from €28,866 to €29,976
- Depreciation -€6,109
down €6,109 (-50.7%), from €12,042 to €5,933
- Taxes +€2,489
up €2,489 (+56.6%), from €4,394 to €6,883
- Gross operating margin +€2,291
up €2,291 (+7.7%), from €29,577 to €31,868
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 | €67,200 | €92,300 | +€25,100 | +37.4% |
| Fixed assets | 21/28 | €40,589 | €34,656 | -€5,933 | -14.6% |
| Tangible fixed assets | 22/27 | €38,789 | €32,856 | -€5,933 | -15.3% |
| Furniture and vehicles | 24 | €8,852 | €6,692 | -€2,160 | -24.4% |
| Other tangible fixed assets | 26 | €29,936 | €26,164 | -€3,773 | -12.6% |
| Financial fixed assets | 28 | €1,800 | €1,800 | = | 0.0% |
| Current assets | 29/58 | €26,611 | €57,644 | +€31,032 | +117% |
| Amounts receivable within one year | 40/41 | €19,235 | €32,969 | +€13,733 | +71.4% |
| Trade receivables | 40 | €19,235 | €32,969 | +€13,733 | +71.4% |
| Cash at bank and in hand | 54/58 | €6,732 | €23,734 | +€17,002 | +253% |
| Deferred charges and accrued income | 490/1 | €644 | €941 | +€297 | +46.1% |
| Total equity and liabilities | 10/49 | €67,200 | €92,300 | +€25,100 | +37.4% |
| Equity | 10/15 | €57,766 | €73,876 | +€16,109 | +27.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €10,300 | €25,300 | +€15,000 | +146% |
| Non-distributable reserves | 130/1 | €300 | €300 | = | 0.0% |
| Reserves not available under the articles | 1311 | €300 | €300 | = | 0.0% |
| Distributable reserves | 133 | €10,000 | €25,000 | +€15,000 | +150% |
| Profit (loss) carried forward | 14 | €28,866 | €29,976 | +€1,109 | +3.8% |
| Amounts payable | 17/49 | €9,434 | €18,424 | +€8,990 | +95.3% |
| Amounts payable within one year | 42/48 | €9,434 | €18,424 | +€8,990 | +95.3% |
| Trade debts | 44 | €284 | €6,156 | +€5,873 | +2,070% |
| Suppliers | 440/4 | €284 | €6,156 | +€5,873 | +2,070% |
| Taxes, remuneration and social security | 45 | €8,814 | €11,622 | +€2,808 | +31.9% |
| Taxes | 450/3 | €8,814 | €9,422 | +€608 | +6.9% |
| Remuneration and social security | 454/9 | - | €2,200 | +€2,200 | |
| Other amounts payable | 47/48 | €336 | €646 | +€310 | +92.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,042 | €5,933 | -€6,109 | -50.7% |
| Other operating charges | 640/8 | €2,667 | €2,728 | +€61 | +2.3% |
| Gross operating margin | 9900 | €29,577 | €31,868 | +€2,291 | +7.7% |
| Operating profit (loss) | 9901 | €14,869 | €23,207 | +€8,339 | +56.1% |
| Financial charges | 65/66B | €298 | €214 | -€84 | -28.1% |
| Recurring financial charges | 65 | €298 | €214 | -€84 | -28.1% |
| Profit (loss) for the period before taxes | 9903 | €14,571 | €22,993 | +€8,422 | +57.8% |
| Income taxes | 67/77 | €4,394 | €6,883 | +€2,489 | +56.6% |
| Profit (loss) for the period | 9904 | €10,176 | €16,109 | +€5,933 | +58.3% |
| Profit (loss) for the period to be appropriated | 9905 | €10,176 | €16,109 | +€5,933 | +58.3% |
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 14 October 2026 via checked.be.