ITOP: 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.
What changed
ITOP
NACE 46.341, Wholesale of wines and spirits
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€112,840
2024 · -€83,382-€29,458
Equity
€202,325
2024 · €315,165-€112,840
Cash
€7,719
2024 · €12,998-€5,280
Balance sheet total
€711,084
2024 · €729,677-€18,594
Largest movements
Assets
- Stocks and contracts -€13,803
down €13,803 (-7.5%), from €182,982 to €169,179
Equity and liabilities
- Reserves -€112,840
down €112,840 (-39.6%), from €285,165 to €172,325
of which Distributable reserves: -€102,098
- Other debts +€93,225
up €93,225 (+25.3%), from €368,267 to €461,492
Income statement
- Gross operating margin -€30,739
down €30,739 (-144.9%), from -€21,209 to -€51,948
- Staff costs -€2,549
down €2,549 (-94.0%), from €2,713 to €163
- Other operating charges +€1,667
up €1,667 (+27.3%), from €6,101 to €7,769
- Financial income +€1,505
up €1,505 (+471.6%), from €319 to €1,824
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.
Result 2024
-€83,382
Gross operating margin
-€30,739
Staff costs
+€2,549
Depreciation
-€216
Other operating charges
-€1,667
Financial income
+€1,505
Financial charges
-€38
Taxes
+€0
Deferred taxes and other
-€853
Result 2025
-€112,840
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.
From operations
+€52,487
Investment
-€57,766
Financing
€0
Cash 2024
€12,998
From operations (derived)
+€52,487
Net result for the year
-€112,840
Depreciation
+€58,125
Stocks and contracts
+€13,803
Receivables within one year
-€1,339
Deferred charges and accrued income
+€491
Provisions
-€4,679
Trade debts
+€2,580
Tax, wage and social debts
+€3,085
Other debts
+€93,225
Accrued charges and deferred income
+€35
Investment (derived)
-€57,766
Investment in fixed assets (net)
-€57,766
Cash 2025
€7,719
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €729,677 | €711,084 | -€18,594 | -2.5% |
| Fixed assets | 21/28 | €517,997 | €517,638 | -€359 | -0.1% |
| Tangible fixed assets | 22/27 | €517,997 | €517,638 | -€359 | -0.1% |
| Land and buildings | 22 | €490,840 | €491,286 | +€446 | +0.1% |
| Plant, machinery and equipment | 23 | €1,803 | €1,202 | -€601 | -33.3% |
| Furniture and vehicles | 24 | €7,970 | €6,581 | -€1,389 | -17.4% |
| Other tangible fixed assets | 26 | €17,384 | €18,569 | +€1,185 | +6.8% |
| Current assets | 29/58 | €211,680 | €193,445 | -€18,235 | -8.6% |
| Stocks and contracts in progress | 3 | €182,982 | €169,179 | -€13,803 | -7.5% |
| Stocks | 30/36 | €182,982 | €169,179 | -€13,803 | -7.5% |
| Amounts receivable within one year | 40/41 | €9,025 | €10,363 | +€1,339 | +14.8% |
| Trade receivables | 40 | €8,025 | €9,363 | +€1,339 | +16.7% |
| Other amounts receivable | 41 | €1,000 | €1,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €12,998 | €7,719 | -€5,280 | -40.6% |
| Deferred charges and accrued income | 490/1 | €6,675 | €6,184 | -€491 | -7.4% |
| Total equity and liabilities | 10/49 | €729,677 | €711,084 | -€18,594 | -2.5% |
| Equity | 10/15 | €315,165 | €202,325 | -€112,840 | -35.8% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Capital | 10 | €30,000 | €30,000 | = | 0.0% |
| Issued capital | 100 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €285,165 | €172,325 | -€112,840 | -39.6% |
| Non-distributable reserves | 130/1 | €50,043 | €50,043 | = | 0.0% |
| Legal reserve | 130 | €50,043 | €50,043 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,089 | €7,347 | -€10,742 | -59.4% |
| Distributable reserves | 133 | €217,033 | €114,934 | -€102,098 | -47.0% |
| Provisions and deferred taxes | 16 | €4,679 | - | -€4,679 | |
| Deferred taxes | 168 | €4,679 | - | -€4,679 | |
| Amounts payable | 17/49 | €409,834 | €508,759 | +€98,925 | +24.1% |
| Amounts payable after more than one year | 17 | €5,280 | €5,280 | = | 0.0% |
| Other amounts payable | 178/9 | €5,280 | €5,280 | = | 0.0% |
| Amounts payable within one year | 42/48 | €403,589 | €502,479 | +€98,890 | +24.5% |
| Trade debts | 44 | €26,020 | €28,600 | +€2,580 | +9.9% |
| Suppliers | 440/4 | €26,020 | €28,600 | +€2,580 | +9.9% |
| Taxes, remuneration and social security | 45 | €9,302 | €12,386 | +€3,085 | +33.2% |
| Taxes | 450/3 | €9,302 | €12,386 | +€3,085 | +33.2% |
| Other amounts payable | 47/48 | €368,267 | €461,492 | +€93,225 | +25.3% |
| Accrued charges and deferred income | 492/3 | €965 | €1,000 | +€35 | +3.6% |
| Remuneration, social security and pensions | 62 | €2,713 | €163 | -€2,549 | -94.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,909 | €58,125 | +€216 | +0.4% |
| Other operating charges | 640/8 | €6,101 | €7,769 | +€1,667 | +27.3% |
| Gross operating margin | 9900 | -€21,209 | -€51,948 | -€30,739 | -144.9% |
| Operating profit (loss) | 9901 | -€87,932 | -€118,005 | -€30,073 | -34.2% |
| Financial income | 75/76B | €319 | €1,824 | +€1,505 | +471.6% |
| Recurring financial income | 75 | €319 | €1,824 | +€1,505 | +471.6% |
| Financial charges | 65/66B | €1,299 | €1,336 | +€38 | +2.9% |
| Recurring financial charges | 65 | €1,299 | €1,336 | +€38 | +2.9% |
| Profit (loss) for the period before taxes | 9903 | -€88,911 | -€117,517 | -€28,606 | -32.2% |
| Transfer from deferred taxes | 780 | €5,531 | €4,679 | -€853 | -15.4% |
| Income taxes | 67/77 | €2 | €1 | -€0 | -16.3% |
| Profit (loss) for the period | 9904 | -€83,382 | -€112,840 | -€29,458 | -35.3% |
| Transfer from tax-exempt reserves | 789 | €10,742 | €10,742 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€72,640 | -€102,098 | -€29,458 | -40.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.