ittak: 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.
ittak
Largest movements
- Financial fixed assets +€15.8m
up €15.8m (+28.3%), from €55.8m to €71.6m
- Current investments +€2.7m
up €2.7m (+8.5%), from €31.5m to €34.2m
- Reserves +€17.1m
up €17.1m (+61.8%), from €27.7m to €44.8m
of which Distributable reserves: +€17.1m
- Financial charges -€14.8m
down €14.8m (-97.9%), from €15.1m to €311,045
of which Non-recurring financial charges: -€15.0m
- Financial income -€2.7m
down €2.7m (-11.9%), from €22.3m to €19.6m
of which Non-recurring financial income: -€5.3m
- Taxes +€1.5m
up €1.5m (+216.4%), from €677,034 to €2.1m
- Gross operating margin -€45,046
down €45,046 (-154.1%), from -€29,229 to -€74,275
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 | €90,279,157 | €108,203,151 | +€17.9m | +19.9% |
| Fixed assets | 21/28 | €55,772,840 | €71,553,988 | +€15.8m | +28.3% |
| Financial fixed assets | 28 | €55,772,840 | €71,553,988 | +€15.8m | +28.3% |
| Current assets | 29/58 | €34,506,317 | €36,649,163 | +€2.1m | +6.2% |
| Amounts receivable after more than one year | 29 | €50,000 | €50,000 | = | 0.0% |
| Other amounts receivable | 291 | €50,000 | €50,000 | = | 0.0% |
| Current investments | 50/53 | €31,517,148 | €34,210,575 | +€2.7m | +8.5% |
| Cash at bank and in hand | 54/58 | €2,916,957 | €2,331,194 | -€585,763 | -20.1% |
| Deferred charges and accrued income | 490/1 | €22,211 | €57,393 | +€35,182 | +158.4% |
| Total equity and liabilities | 10/49 | €90,279,157 | €108,203,151 | +€17.9m | +19.9% |
| Equity | 10/15 | €88,660,141 | €105,755,084 | +€17.1m | +19.3% |
| Contributions | 10/11 | €61,000,000 | €61,000,000 | = | 0.0% |
| Capital | 10 | €61,000,000 | €61,000,000 | = | 0.0% |
| Issued capital | 100 | €61,000,000 | €61,000,000 | = | 0.0% |
| Reserves | 13 | €27,659,985 | €44,754,928 | +€17.1m | +61.8% |
| Non-distributable reserves | 130/1 | €6,100,000 | €6,100,000 | = | 0.0% |
| Legal reserve | 130 | €6,100,000 | €6,100,000 | = | 0.0% |
| Distributable reserves | 133 | €21,559,985 | €38,654,928 | +€17.1m | +79.3% |
| Profit (loss) carried forward | 14 | €156 | €156 | = | 0.0% |
| Amounts payable | 17/49 | €1,619,016 | €2,448,066 | +€829,050 | +51.2% |
| Amounts payable within one year | 42/48 | €1,619,016 | €2,448,066 | +€829,050 | +51.2% |
| Trade debts | 44 | €2,580 | €0 | -€2,580 | -100.0% |
| Suppliers | 440/4 | €2,580 | €0 | -€2,580 | -100.0% |
| Taxes, remuneration and social security | 45 | €1,616,436 | €2,448,066 | +€831,630 | +51.4% |
| Taxes | 450/3 | €1,616,436 | €2,448,066 | +€831,630 | +51.4% |
| Other operating charges | 640/8 | €1,116 | €1,148 | +€33 | +3.0% |
| Gross operating margin | 9900 | -€29,229 | -€74,275 | -€45,046 | -154.1% |
| Operating profit (loss) | 9901 | -€30,344 | -€75,423 | -€45,079 | -148.6% |
| Financial income | 75/76B | €22,274,584 | €19,623,471 | -€2.7m | -11.9% |
| Recurring financial income | 75 | €1,240,139 | €3,842,323 | +€2.6m | +209.8% |
| Non-recurring financial income | 76B | €21,034,444 | €15,781,147 | -€5.3m | -25.0% |
| Financial charges | 65/66B | €15,103,142 | €311,045 | -€14.8m | -97.9% |
| Recurring financial charges | 65 | €68,087 | €311,045 | +€242,958 | +356.8% |
| Non-recurring financial charges | 66B | €15,035,055 | €0 | -€15.0m | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €7,141,098 | €19,237,003 | +€12.1m | +169.4% |
| Income taxes | 67/77 | €677,034 | €2,142,060 | +€1.5m | +216.4% |
| Profit (loss) for the period | 9904 | €6,464,064 | €17,094,943 | +€10.6m | +164.5% |
| Profit (loss) for the period to be appropriated | 9905 | €6,464,064 | €17,094,943 | +€10.6m | +164.5% |
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 2 October 2026 via checked.be.