ITMC: 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.
ITMC
Largest movements
- Cash -€16,898
down €16,898 (-47.2%), from €35,833 to €18,936
mainly Investment in fixed assets (net) (-€20,602) and Receivables within one year (-€11,324)
- Receivables within one year +€11,324
up €11,324 (+34.3%), from €32,987 to €44,311
of which Trade receivables: +€11,599
- Tangible fixed assets +€9,915
up €9,915 (+43.2%), from €22,965 to €32,880
of which Plant, machinery and equipment: +€15,865
- Tax, wage and social debts -€4,083
down €4,083 (-30.7%), from €13,283 to €9,200
- Debts after one year +€4,026
new in 2025: €4,026
- Current portion of long-term debt +€3,310
new in 2025: €3,310
- Trade debts +€3,135
up €3,135 (+21.8%), from €14,370 to €17,505
- Contributions -€2,500
down €2,500 (-50.0%), from €5,000 to €2,500
- Depreciation +€3,266
up €3,266 (+45.7%), from €7,146 to €10,412
- Financial charges -€1,664
down €1,664 (-75.5%), from €2,205 to €541
- Other operating charges +€999
up €999 (+63.3%), from €1,579 to €2,578
- Gross operating margin +€650
up €650 (+3.2%), from €20,612 to €21,261
- Taxes -€423
down €423 (-13.6%), from €3,107 to €2,685
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 | €96,377 | €101,086 | +€4,709 | +4.9% |
| Fixed assets | 21/28 | €22,965 | €33,155 | +€10,190 | +44.4% |
| Tangible fixed assets | 22/27 | €22,965 | €32,880 | +€9,915 | +43.2% |
| Land and buildings | 22 | €4,624 | €3,582 | -€1,042 | -22.5% |
| Plant, machinery and equipment | 23 | €4,583 | €20,448 | +€15,865 | +346.2% |
| Furniture and vehicles | 24 | €13,758 | €8,849 | -€4,909 | -35.7% |
| Financial fixed assets | 28 | - | €275 | +€275 | |
| Current assets | 29/58 | €73,412 | €67,931 | -€5,481 | -7.5% |
| Stocks and contracts in progress | 3 | €3,757 | €3,417 | -€340 | -9.1% |
| Stocks | 30/36 | €3,757 | €3,417 | -€340 | -9.1% |
| Amounts receivable within one year | 40/41 | €32,987 | €44,311 | +€11,324 | +34.3% |
| Trade receivables | 40 | €32,712 | €44,311 | +€11,599 | +35.5% |
| Other amounts receivable | 41 | €275 | - | -€275 | |
| Cash at bank and in hand | 54/58 | €35,833 | €18,936 | -€16,898 | -47.2% |
| Deferred charges and accrued income | 490/1 | €835 | €1,268 | +€433 | +51.8% |
| Total equity and liabilities | 10/49 | €96,377 | €101,086 | +€4,709 | +4.9% |
| Equity | 10/15 | €67,661 | €66,156 | -€1,505 | -2.2% |
| Contributions | 10/11 | €5,000 | €2,500 | -€2,500 | -50.0% |
| Reserves | 13 | €62,661 | €63,656 | +€995 | +1.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €60,801 | €61,796 | +€995 | +1.6% |
| Amounts payable | 17/49 | €28,715 | €34,929 | +€6,214 | +21.6% |
| Amounts payable after more than one year | 17 | - | €4,026 | +€4,026 | |
| Financial debts | 170/4 | - | €4,026 | +€4,026 | |
| Amounts payable within one year | 42/48 | €28,715 | €30,903 | +€2,188 | +7.6% |
| Current portion of amounts payable after more than one year | 42 | - | €3,310 | +€3,310 | |
| Trade debts | 44 | €14,370 | €17,505 | +€3,135 | +21.8% |
| Suppliers | 440/4 | €14,370 | €17,505 | +€3,135 | +21.8% |
| Taxes, remuneration and social security | 45 | €13,283 | €9,200 | -€4,083 | -30.7% |
| Taxes | 450/3 | €13,283 | €9,200 | -€4,083 | -30.7% |
| Other amounts payable | 47/48 | €1,062 | €887 | -€175 | -16.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,146 | €10,412 | +€3,266 | +45.7% |
| Other operating charges | 640/8 | €1,579 | €2,578 | +€999 | +63.3% |
| Gross operating margin | 9900 | €20,612 | €21,261 | +€650 | +3.2% |
| Operating profit (loss) | 9901 | €11,887 | €8,271 | -€3,616 | -30.4% |
| Financial charges | 65/66B | €2,205 | €541 | -€1,664 | -75.5% |
| Recurring financial charges | 65 | €2,205 | €541 | -€1,664 | -75.5% |
| Profit (loss) for the period before taxes | 9903 | €9,682 | €7,730 | -€1,952 | -20.2% |
| Income taxes | 67/77 | €3,107 | €2,685 | -€423 | -13.6% |
| Profit (loss) for the period | 9904 | €6,574 | €5,045 | -€1,529 | -23.3% |
| Profit (loss) for the period to be appropriated | 9905 | €6,574 | €5,045 | -€1,529 | -23.3% |
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.