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.
ITOP
Largest movements
- Current investments +€50,000
up €50,000 (+33.3%), from €150,000 to €200,000
- Tangible fixed assets -€39,307
down €39,307 (-3.4%), from €1.1m to €1.1m
- Cash -€22,777
down €22,777 (-28.9%), from €78,873 to €56,096
mainly Current investments (-€50,000) and Net result for the year (-€9,971)
No liability line moved by more than 1% of the balance sheet total.
- Depreciation +€2,079
up €2,079 (+4.5%), from €45,852 to €47,932
- Gross operating margin -€1,394
down €1,394 (-3.1%), from €44,594 to €43,200
- Financial income +€452
up €452 (+21.5%), from €2,109 to €2,561
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 | €1,379,537 | €1,368,657 | -€10,880 | -0.8% |
| Fixed assets | 21/28 | €1,142,233 | €1,102,925 | -€39,307 | -3.4% |
| Tangible fixed assets | 22/27 | €1,142,233 | €1,102,925 | -€39,307 | -3.4% |
| Land and buildings | 22 | €1,142,233 | €1,102,925 | -€39,307 | -3.4% |
| Current assets | 29/58 | €237,304 | €265,732 | +€28,427 | +12.0% |
| Amounts receivable within one year | 40/41 | €1,236 | €1,914 | +€677 | +54.8% |
| Other amounts receivable | 41 | €1,236 | €1,914 | +€677 | +54.8% |
| Current investments | 50/53 | €150,000 | €200,000 | +€50,000 | +33.3% |
| Cash at bank and in hand | 54/58 | €78,873 | €56,096 | -€22,777 | -28.9% |
| Deferred charges and accrued income | 490/1 | €7,195 | €7,722 | +€527 | +7.3% |
| Total equity and liabilities | 10/49 | €1,379,537 | €1,368,657 | -€10,880 | -0.8% |
| Equity | 10/15 | €1,370,420 | €1,360,450 | -€9,971 | -0.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €431,200 | €431,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €425,000 | €425,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €877,220 | €867,250 | -€9,971 | -1.1% |
| Amounts payable | 17/49 | €9,117 | €8,208 | -€909 | -10.0% |
| Amounts payable after more than one year | 17 | €7,200 | €7,200 | = | 0.0% |
| Other amounts payable | 178/9 | €7,200 | €7,200 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,917 | €1,008 | -€909 | -47.4% |
| Trade debts | 44 | €1,917 | €1,008 | -€909 | -47.4% |
| Suppliers | 440/4 | €1,917 | €1,008 | -€909 | -47.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,852 | €47,932 | +€2,079 | +4.5% |
| Other operating charges | 640/8 | €7,854 | €7,780 | -€74 | -0.9% |
| Gross operating margin | 9900 | €44,594 | €43,200 | -€1,394 | -3.1% |
| Operating profit (loss) | 9901 | -€9,112 | -€12,511 | -€3,399 | -37.3% |
| Financial income | 75/76B | €2,109 | €2,561 | +€452 | +21.5% |
| Recurring financial income | 75 | €2,109 | €2,561 | +€452 | +21.5% |
| Financial charges | 65/66B | €0 | €21 | +€21 | |
| Recurring financial charges | 65 | €0 | €21 | +€21 | |
| Profit (loss) for the period before taxes | 9903 | -€7,003 | -€9,971 | -€2,968 | -42.4% |
| Profit (loss) for the period | 9904 | -€7,003 | -€9,971 | -€2,968 | -42.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,003 | -€9,971 | -€2,968 | -42.4% |
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 1 October 2026 via checked.be.