iTMA: 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.
iTMA
Largest movements
- Cash +€61,557
up €61,557 (+79.2%), from €77,721 to €139,278
mainly Net result for the year (+€55,826) and Depreciation (+€6,079)
- Reserves +€55,826
up €55,826 (+48.4%), from €115,406 to €171,232
- Trade debts +€2,996
up €2,996 (+97.5%), from €3,073 to €6,070
- Other debts +€2,243
up €2,243 (+86.8%), from €2,585 to €4,828
- Gross operating margin -€7,434
down €7,434 (-8.5%), from €87,257 to €79,823
- Depreciation +€1,803
up €1,803 (+42.2%), from €4,276 to €6,079
- Taxes -€1,600
down €1,600 (-9.5%), from €16,859 to €15,259
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 | €141,632 | €201,623 | +€59,991 | +42.4% |
| Fixed assets | 21/28 | €44,672 | €43,956 | -€716 | -1.6% |
| Tangible fixed assets | 22/27 | €44,672 | €43,956 | -€716 | -1.6% |
| Plant, machinery and equipment | 23 | €5,012 | €3,900 | -€1,112 | -22.2% |
| Furniture and vehicles | 24 | €750 | €329 | -€421 | -56.2% |
| Other tangible fixed assets | 26 | €38,910 | €39,728 | +€818 | +2.1% |
| Current assets | 29/58 | €96,960 | €157,667 | +€60,707 | +62.6% |
| Amounts receivable within one year | 40/41 | €18,081 | €17,509 | -€572 | -3.2% |
| Trade receivables | 40 | €18,081 | €17,509 | -€572 | -3.2% |
| Cash at bank and in hand | 54/58 | €77,721 | €139,278 | +€61,557 | +79.2% |
| Deferred charges and accrued income | 490/1 | €1,159 | €880 | -€278 | -24.0% |
| Total equity and liabilities | 10/49 | €141,632 | €201,623 | +€59,991 | +42.4% |
| Equity | 10/15 | €120,406 | €176,232 | +€55,826 | +46.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €115,406 | €171,232 | +€55,826 | +48.4% |
| Distributable reserves | 133 | €115,406 | €171,232 | +€55,826 | +48.4% |
| Amounts payable | 17/49 | €21,226 | €25,391 | +€4,165 | +19.6% |
| Amounts payable within one year | 42/48 | €19,661 | €23,824 | +€4,163 | +21.2% |
| Trade debts | 44 | €3,073 | €6,070 | +€2,996 | +97.5% |
| Suppliers | 440/4 | €3,073 | €6,070 | +€2,996 | +97.5% |
| Taxes, remuneration and social security | 45 | €14,002 | €12,926 | -€1,076 | -7.7% |
| Taxes | 450/3 | €14,002 | €12,926 | -€1,076 | -7.7% |
| Other amounts payable | 47/48 | €2,585 | €4,828 | +€2,243 | +86.8% |
| Accrued charges and deferred income | 492/3 | €1,566 | €1,567 | +€1 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,276 | €6,079 | +€1,803 | +42.2% |
| Other operating charges | 640/8 | €356 | €1,152 | +€796 | +224% |
| Gross operating margin | 9900 | €87,257 | €79,823 | -€7,434 | -8.5% |
| Operating profit (loss) | 9901 | €82,625 | €72,592 | -€10,034 | -12.1% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €1,924 | €1,507 | -€417 | -21.7% |
| Recurring financial charges | 65 | €1,924 | €1,507 | -€417 | -21.7% |
| Profit (loss) for the period before taxes | 9903 | €80,702 | €71,085 | -€9,617 | -11.9% |
| Income taxes | 67/77 | €16,859 | €15,259 | -€1,600 | -9.5% |
| Profit (loss) for the period | 9904 | €63,843 | €55,826 | -€8,017 | -12.6% |
| Profit (loss) for the period to be appropriated | 9905 | €63,843 | €55,826 | -€8,017 | -12.6% |
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 27 October 2026 via checked.be.