ITAKA: what changed
ITAKA
Largest movements
- Tangible fixed assets -€44,218
down €44,218 (-9.5%), from €466,392 to €422,174
of which Land and buildings: -€32,540
- Cash -€34,274
down €34,274 (-49.9%), from €68,751 to €34,477
mainly Contributions, distributions and other (-€52,178) and Net result for the year (-€8,168)
- Reserves -€60,346
down €60,346 (-24.5%), from €245,994 to €185,648
of which Distributable reserves: -€41,668
- Other debts -€6,308
down €6,308 (-6.2%), from €102,348 to €96,039
- Provisions -€6,226
down €6,226 (-12.5%), from €49,806 to €43,580
- Debts after one year -€6,000
down €6,000 (-25.0%), from €24,000 to €18,000
- Depreciation -€11,323
down €11,323 (-20.4%), from €55,541 to €44,218
- Taxes +€3,376
up €3,376 (+217%), from €1,553 to €4,929
- Gross operating margin -€1,050
down €1,050 (-2.2%), from €48,333 to €47,283
- Financial income +€531
up €531 (+408%), from €130 to €661
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €537,163 | €459,111 | -€78,052 | -14.5% |
| Fixed assets | 21/28 | €466,392 | €422,174 | -€44,218 | -9.5% |
| Tangible fixed assets | 22/27 | €466,392 | €422,174 | -€44,218 | -9.5% |
| Land and buildings | 22 | €367,323 | €334,782 | -€32,540 | -8.9% |
| Plant, machinery and equipment | 23 | €99,069 | €87,392 | -€11,677 | -11.8% |
| Current assets | 29/58 | €70,771 | €36,937 | -€33,834 | -47.8% |
| Amounts receivable within one year | 40/41 | €1,486 | €1,486 | = | 0.0% |
| Other amounts receivable | 41 | €1,486 | €1,486 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €68,751 | €34,477 | -€34,274 | -49.9% |
| Deferred charges and accrued income | 490/1 | €534 | €973 | +€440 | +82.5% |
| Total equity and liabilities | 10/49 | €537,163 | €459,111 | -€78,052 | -14.5% |
| Equity | 10/15 | €352,103 | €291,757 | -€60,346 | -17.1% |
| Contributions | 10/11 | €106,098 | €106,098 | = | 0.0% |
| Contributions outside capital | 11 | €106,098 | €106,098 | = | 0.0% |
| Other | 1109/19 | €106,098 | €106,098 | = | 0.0% |
| Reserves | 13 | €245,994 | €185,648 | -€60,346 | -24.5% |
| Tax-exempt reserves | 132 | €149,418 | €130,741 | -€18,677 | -12.5% |
| Distributable reserves | 133 | €96,576 | €54,908 | -€41,668 | -43.1% |
| Profit (loss) carried forward | 14 | €10 | €10 | = | 0.0% |
| Provisions and deferred taxes | 16 | €49,806 | €43,580 | -€6,226 | -12.5% |
| Deferred taxes | 168 | €49,806 | €43,580 | -€6,226 | -12.5% |
| Amounts payable | 17/49 | €135,254 | €123,774 | -€11,480 | -8.5% |
| Amounts payable after more than one year | 17 | €24,000 | €18,000 | -€6,000 | -25.0% |
| Financial debts | 170/4 | €24,000 | €18,000 | -€6,000 | -25.0% |
| Amounts payable within one year | 42/48 | €109,331 | €103,692 | -€5,639 | -5.2% |
| Financial debts | 43 | €6,000 | €6,000 | = | 0.0% |
| Other loans | 439 | €6,000 | €6,000 | = | 0.0% |
| Trade debts | 44 | €983 | €1,122 | +€138 | +14.1% |
| Suppliers | 440/4 | €983 | €1,122 | +€138 | +14.1% |
| Taxes, remuneration and social security | 45 | - | €531 | +€531 | |
| Taxes | 450/3 | - | €531 | +€531 | |
| Other amounts payable | 47/48 | €102,348 | €96,039 | -€6,308 | -6.2% |
| Accrued charges and deferred income | 492/3 | €1,923 | €2,082 | +€159 | +8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,541 | €44,218 | -€11,323 | -20.4% |
| Other operating charges | 640/8 | €5,845 | €5,896 | +€51 | +0.9% |
| Gross operating margin | 9900 | €48,333 | €47,283 | -€1,050 | -2.2% |
| Operating profit (loss) | 9901 | -€13,052 | -€2,831 | +€10,221 | +78.3% |
| Financial income | 75/76B | €130 | €661 | +€531 | +408% |
| Recurring financial income | 75 | €130 | €661 | +€531 | +408% |
| Financial charges | 65/66B | €7,099 | €7,294 | +€195 | +2.7% |
| Recurring financial charges | 65 | €7,099 | €7,294 | +€195 | +2.7% |
| Profit (loss) for the period before taxes | 9903 | -€20,021 | -€9,465 | +€10,557 | +52.7% |
| Transfer from deferred taxes | 780 | €6,226 | €6,226 | = | 0.0% |
| Income taxes | 67/77 | €1,553 | €4,929 | +€3,376 | +217% |
| Profit (loss) for the period | 9904 | -€15,349 | -€8,168 | +€7,181 | +46.8% |
| Transfer from tax-exempt reserves | 789 | €18,677 | €18,677 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €3,328 | €10,509 | +€7,181 | +216% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.