iTrack Europe: 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.
iTrack Europe
Largest movements
- Receivables after one year -€100,000
no longer reported in 2025 (was €100,000)
- Tangible fixed assets +€58,612
up €58,612 (+170%), from €34,472 to €93,084
of which Land and buildings: +€62,069
- Receivables within one year +€51,520
up €51,520 (+214%), from €24,027 to €75,546
of which Other amounts receivable: +€66,027
- Cash -€43,747
down €43,747 (-76.4%), from €57,255 to €13,508
mainly Investment in fixed assets (net) (-€86,473) and Receivables within one year (-€51,520)
- Debts after one year -€13,153
down €13,153 (-24.8%), from €53,104 to €39,951
- Profit (loss) carried forward -€7,564
down €7,564 (-36.7%), from -€20,584 to -€28,147
- Tax, wage and social debts -€6,441
no longer reported in 2025 (was €6,441)
- Other debts -€5,544
down €5,544 (-48.0%), from €11,544 to €6,000
- Current portion of long-term debt -€3,584
down €3,584 (-21.4%), from €16,736 to €13,153
- Gross operating margin -€33,112
down €33,112 (-57.7%), from €57,371 to €24,260
- Depreciation -€18,598
down €18,598 (-39.8%), from €46,720 to €28,122
- Financial charges -€4,007
down €4,007 (-70.7%), from €5,666 to €1,659
- Financial income -€3,486
down €3,486 (-99.2%), from €3,514 to €28
- Other operating charges -€3,239
down €3,239 (-62.6%), from €5,177 to €1,939
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 | €221,414 | €186,818 | -€34,596 | -15.6% |
| Fixed assets | 21/28 | €34,732 | €93,084 | +€58,352 | +168% |
| Tangible fixed assets | 22/27 | €34,472 | €93,084 | +€58,612 | +170% |
| Land and buildings | 22 | €24,868 | €86,936 | +€62,069 | +250% |
| Furniture and vehicles | 24 | €9,605 | €6,148 | -€3,457 | -36.0% |
| Financial fixed assets | 28 | €260 | - | -€260 | |
| Current assets | 29/58 | €186,682 | €93,734 | -€92,947 | -49.8% |
| Amounts receivable after more than one year | 29 | €100,000 | - | -€100,000 | |
| Other amounts receivable | 291 | €100,000 | - | -€100,000 | |
| Stocks and contracts in progress | 3 | €5,400 | €4,680 | -€720 | -13.3% |
| Stocks | 30/36 | €5,400 | €4,680 | -€720 | -13.3% |
| Amounts receivable within one year | 40/41 | €24,027 | €75,546 | +€51,520 | +214% |
| Trade receivables | 40 | €20,327 | €5,820 | -€14,507 | -71.4% |
| Other amounts receivable | 41 | €3,699 | €69,726 | +€66,027 | +1,785% |
| Cash at bank and in hand | 54/58 | €57,255 | €13,508 | -€43,747 | -76.4% |
| Total equity and liabilities | 10/49 | €221,414 | €186,818 | -€34,596 | -15.6% |
| Equity | 10/15 | €132,927 | €125,363 | -€7,564 | -5.7% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Capital | 10 | €125,000 | €125,000 | = | 0.0% |
| Issued capital | 100 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €28,511 | €28,511 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,500 | €12,500 | = | 0.0% |
| Legal reserve | 130 | €12,500 | €12,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €911 | €911 | = | 0.0% |
| Distributable reserves | 133 | €15,100 | €15,100 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€20,584 | -€28,147 | -€7,564 | -36.7% |
| Amounts payable | 17/49 | €88,487 | €61,455 | -€27,032 | -30.5% |
| Amounts payable after more than one year | 17 | €53,104 | €39,951 | -€13,153 | -24.8% |
| Financial debts | 170/4 | €53,104 | €39,951 | -€13,153 | -24.8% |
| Amounts payable within one year | 42/48 | €35,383 | €21,504 | -€13,879 | -39.2% |
| Current portion of amounts payable after more than one year | 42 | €16,736 | €13,153 | -€3,584 | -21.4% |
| Trade debts | 44 | €661 | €2,351 | +€1,689 | +255% |
| Suppliers | 440/4 | €661 | €2,351 | +€1,689 | +255% |
| Taxes, remuneration and social security | 45 | €6,441 | - | -€6,441 | |
| Taxes | 450/3 | €6,441 | - | -€6,441 | |
| Other amounts payable | 47/48 | €11,544 | €6,000 | -€5,544 | -48.0% |
| Remuneration, social security and pensions | 62 | €2,773 | - | -€2,773 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,720 | €28,122 | -€18,598 | -39.8% |
| Other operating charges | 640/8 | €5,177 | €1,939 | -€3,239 | -62.6% |
| Gross operating margin | 9900 | €57,371 | €24,260 | -€33,112 | -57.7% |
| Operating profit (loss) | 9901 | €2,701 | -€5,801 | -€8,502 | |
| Financial income | 75/76B | €3,514 | €28 | -€3,486 | -99.2% |
| Recurring financial income | 75 | €3,514 | €28 | -€3,486 | -99.2% |
| Financial charges | 65/66B | €5,666 | €1,659 | -€4,007 | -70.7% |
| Recurring financial charges | 65 | €5,666 | €1,659 | -€4,007 | -70.7% |
| Profit (loss) for the period before taxes | 9903 | €550 | -€7,432 | -€7,982 | |
| Income taxes | 67/77 | €140 | €132 | -€8 | -5.4% |
| Profit (loss) for the period | 9904 | €411 | -€7,564 | -€7,974 | |
| Profit (loss) for the period to be appropriated | 9905 | €411 | -€7,564 | -€7,974 |
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 22 October 2026 via checked.be.