Itsara Projects: 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.
Itsara Projects
Largest movements
- Current investments +€81,411
up €81,411 (+407.1%), from €20,000 to €101,411
- Cash +€30,234
up €30,234 (+52.6%), from €57,478 to €87,712
mainly Net result for the year (+€84,258) and Tax, wage and social debts (+€44,755)
- Receivables within one year +€20,860
up €20,860 (+137.8%), from €15,138 to €35,998
of which Trade receivables: +€22,063
- Reserves +€84,258
up €84,258 (+143.6%), from €58,661 to €142,919
- Tax, wage and social debts +€44,755
up €44,755 (+163.5%), from €27,374 to €72,129
of which Taxes: +€45,304
- Other debts +€4,792
up €4,792 (+499.9%), from €959 to €5,751
- Trade debts -€3,122
down €3,122 (-100.0%), from €3,122 to €0
- Gross operating margin +€33,306
up €33,306 (+37.3%), from €89,203 to €122,509
- Taxes +€11,137
up €11,137 (+46.2%), from €24,125 to €35,261
- Other operating charges -€2,664
down €2,664 (-74.8%), from €3,561 to €897
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 | €92,615 | €225,121 | +€132,506 | +143.1% |
| Current assets | 29/58 | €92,615 | €225,121 | +€132,506 | +143.1% |
| Amounts receivable within one year | 40/41 | €15,138 | €35,998 | +€20,860 | +137.8% |
| Trade receivables | 40 | €13,936 | €35,998 | +€22,063 | +158.3% |
| Other amounts receivable | 41 | €1,202 | €0 | -€1,202 | -100.0% |
| Current investments | 50/53 | €20,000 | €101,411 | +€81,411 | +407.1% |
| Cash at bank and in hand | 54/58 | €57,478 | €87,712 | +€30,234 | +52.6% |
| Total equity and liabilities | 10/49 | €92,615 | €225,121 | +€132,506 | +143.1% |
| Equity | 10/15 | €61,161 | €145,419 | +€84,258 | +137.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €58,661 | €142,919 | +€84,258 | +143.6% |
| Distributable reserves | 133 | €58,661 | €142,919 | +€84,258 | +143.6% |
| Amounts payable | 17/49 | €31,454 | €79,702 | +€48,248 | +153.4% |
| Amounts payable within one year | 42/48 | €31,454 | €77,879 | +€46,425 | +147.6% |
| Trade debts | 44 | €3,122 | €0 | -€3,122 | -100.0% |
| Suppliers | 440/4 | €3,122 | €0 | -€3,122 | -100.0% |
| Taxes, remuneration and social security | 45 | €27,374 | €72,129 | +€44,755 | +163.5% |
| Taxes | 450/3 | €26,825 | €72,129 | +€45,304 | +168.9% |
| Remuneration and social security | 454/9 | €550 | €0 | -€550 | -100.0% |
| Other amounts payable | 47/48 | €959 | €5,751 | +€4,792 | +499.9% |
| Accrued charges and deferred income | 492/3 | - | €1,823 | +€1,823 | |
| Other operating charges | 640/8 | €3,561 | €897 | -€2,664 | -74.8% |
| Gross operating margin | 9900 | €89,203 | €122,509 | +€33,306 | +37.3% |
| Operating profit (loss) | 9901 | €85,642 | €121,612 | +€35,970 | +42.0% |
| Financial income | 75/76B | - | €775 | +€775 | |
| Recurring financial income | 75 | - | €775 | +€775 | |
| Financial charges | 65/66B | €2,856 | €2,869 | +€12 | +0.4% |
| Recurring financial charges | 65 | €2,856 | €2,869 | +€12 | +0.4% |
| Profit (loss) for the period before taxes | 9903 | €82,786 | €119,519 | +€36,733 | +44.4% |
| Income taxes | 67/77 | €24,125 | €35,261 | +€11,137 | +46.2% |
| Profit (loss) for the period | 9904 | €58,661 | €84,258 | +€25,596 | +43.6% |
| Profit (loss) for the period to be appropriated | 9905 | €58,661 | €84,258 | +€25,596 | +43.6% |
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 12 October 2026 via checked.be.