Ittree: 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.
Ittree
Largest movements
- Receivables within one year -€34,716
down €34,716 (-82.3%), from €42,166 to €7,449
of which Trade receivables: -€32,343
- Cash +€26,844
up €26,844 (+46.9%), from €57,204 to €84,048
mainly Net result for the year (+€47,168) and Receivables within one year (+€34,716)
- Current investments +€18,680
up €18,680 (+20.2%), from €92,639 to €111,319
- Tangible fixed assets +€7,801
up €7,801 (+3.2%), from €246,681 to €254,482
of which Furniture and vehicles: +€13,616
- Reserves +€47,168
up €47,168 (+13.3%), from €354,757 to €401,925
- Debts after one year -€17,930
down €17,930 (-49.8%), from €36,036 to €18,106
- Current portion of long-term debt -€5,628
down €5,628 (-19.1%), from €29,495 to €23,867
- Trade debts -€4,901
down €4,901 (-81.1%), from €6,043 to €1,142
- Gross operating margin -€58,581
down €58,581 (-46.4%), from €126,299 to €67,717
- Taxes -€12,050
down €12,050 (-47.1%), from €25,581 to €13,532
- Financial income +€4,952
up €4,952 (+133%), from €3,728 to €8,680
- Depreciation +€1,740
up €1,740 (+22.4%), from €7,773 to €9,513
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 | €447,447 | €466,398 | +€18,952 | +4.2% |
| Fixed assets | 21/28 | €246,681 | €254,482 | +€7,801 | +3.2% |
| Tangible fixed assets | 22/27 | €246,681 | €254,482 | +€7,801 | +3.2% |
| Land and buildings | 22 | €231,650 | €226,473 | -€5,177 | -2.2% |
| Plant, machinery and equipment | 23 | €2,648 | €2,170 | -€478 | -18.0% |
| Furniture and vehicles | 24 | €11,784 | €25,399 | +€13,616 | +116% |
| Other tangible fixed assets | 26 | €599 | €439 | -€160 | -26.7% |
| Current assets | 29/58 | €200,766 | €211,917 | +€11,151 | +5.6% |
| Stocks and contracts in progress | 3 | €3,455 | €3,763 | +€308 | +8.9% |
| Stocks | 30/36 | €3,455 | €3,763 | +€308 | +8.9% |
| Amounts receivable within one year | 40/41 | €42,166 | €7,449 | -€34,716 | -82.3% |
| Trade receivables | 40 | €39,792 | €7,449 | -€32,343 | -81.3% |
| Other amounts receivable | 41 | €2,373 | - | -€2,373 | |
| Current investments | 50/53 | €92,639 | €111,319 | +€18,680 | +20.2% |
| Cash at bank and in hand | 54/58 | €57,204 | €84,048 | +€26,844 | +46.9% |
| Deferred charges and accrued income | 490/1 | €5,302 | €5,338 | +€36 | +0.7% |
| Total equity and liabilities | 10/49 | €447,447 | €466,398 | +€18,952 | +4.2% |
| Equity | 10/15 | €369,757 | €416,925 | +€47,168 | +12.8% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €354,757 | €401,925 | +€47,168 | +13.3% |
| Distributable reserves | 133 | €354,757 | €401,925 | +€47,168 | +13.3% |
| Amounts payable | 17/49 | €77,689 | €49,473 | -€28,216 | -36.3% |
| Amounts payable after more than one year | 17 | €36,036 | €18,106 | -€17,930 | -49.8% |
| Financial debts | 170/4 | €36,036 | €18,106 | -€17,930 | -49.8% |
| Amounts payable within one year | 42/48 | €41,653 | €31,367 | -€10,286 | -24.7% |
| Current portion of amounts payable after more than one year | 42 | €29,495 | €23,867 | -€5,628 | -19.1% |
| Trade debts | 44 | €6,043 | €1,142 | -€4,901 | -81.1% |
| Suppliers | 440/4 | €6,043 | €1,142 | -€4,901 | -81.1% |
| Taxes, remuneration and social security | 45 | €5,226 | €5,447 | +€221 | +4.2% |
| Taxes | 450/3 | €5,220 | €5,447 | +€227 | +4.3% |
| Remuneration and social security | 454/9 | €6 | - | -€6 | |
| Other amounts payable | 47/48 | €889 | €910 | +€21 | +2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,773 | €9,513 | +€1,740 | +22.4% |
| Other operating charges | 640/8 | €643 | €1,306 | +€663 | +103% |
| Gross operating margin | 9900 | €126,299 | €67,717 | -€58,581 | -46.4% |
| Operating profit (loss) | 9901 | €117,883 | €56,898 | -€60,985 | -51.7% |
| Financial income | 75/76B | €3,728 | €8,680 | +€4,952 | +133% |
| Recurring financial income | 75 | €3,728 | €8,680 | +€4,952 | +133% |
| Financial charges | 65/66B | €3,935 | €4,879 | +€944 | +24.0% |
| Recurring financial charges | 65 | €3,935 | €4,879 | +€944 | +24.0% |
| Profit (loss) for the period before taxes | 9903 | €117,676 | €60,699 | -€56,977 | -48.4% |
| Income taxes | 67/77 | €25,581 | €13,532 | -€12,050 | -47.1% |
| Profit (loss) for the period | 9904 | €92,095 | €47,168 | -€44,928 | -48.8% |
| Profit (loss) for the period to be appropriated | 9905 | €92,095 | €47,168 | -€44,928 | -48.8% |
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 16 October 2026 via checked.be.