ITcon: 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.
What changed
ITcon
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€208,006
2024 · €215,824-€7,818
Equity
€6.2m
2024 · €6.2m-€17,449
Cash
€68,132
2024 · €28,558+€39,574
Balance sheet total
€6.3m
2024 · €6.3m+€21,001
Largest movements
Assets
- Current investments +€77,000
up €77,000 (+6.3%), from €1.2m to €1.3m
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Financial income -€13,510
down €13,510 (-35.6%), from €37,925 to €24,414
- Taxes -€11,432
down €11,432 (-10.2%), from €112,148 to €100,716
- Gross operating margin -€5,328
down €5,328 (-1.5%), from €361,295 to €355,967
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.
Result 2024
€215,824
Gross operating margin
-€5,328
Depreciation
+€1,369
Other operating charges
-€1,648
Financial income
-€13,510
Financial charges
-€134
Taxes
+€11,432
Result 2025
€208,006
raises the resultlowers the result
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.
From operations
+€341,879
Investment
-€77,000
Financing
-€225,305
Cash 2024
€28,558
From operations (derived)
+€341,879
Net result for the year
+€208,006
Depreciation
+€59,549
Receivables within one year
+€6,079
Deferred charges and accrued income
+€29,945
Smaller working-capital items
+€514
Tax, wage and social debts
+€37,115
Other debts
+€672
Investment (derived)
-€77,000
Current investments
-€77,000
Financing
-€225,305
Debts after one year
+€150
Contributions, distributions and other
-€225,455
Cash 2025
€68,132
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,311,131 | €6,332,132 | +€21,001 | +0.3% |
| Fixed assets | 21/28 | €4,963,675 | €4,904,126 | -€59,549 | -1.2% |
| Intangible fixed assets | 21 | €1,125 | €0 | -€1,125 | -100% |
| Tangible fixed assets | 22/27 | €1,913,980 | €1,855,556 | -€58,424 | -3.1% |
| Land and buildings | 22 | €1,904,115 | €1,849,380 | -€54,736 | -2.9% |
| Plant, machinery and equipment | 23 | €1,050 | €801 | -€249 | -23.7% |
| Furniture and vehicles | 24 | €7,578 | €4,583 | -€2,995 | -39.5% |
| Other tangible fixed assets | 26 | €1,236 | €792 | -€444 | -35.9% |
| Financial fixed assets | 28 | €3,048,570 | €3,048,570 | = | 0.0% |
| Current assets | 29/58 | €1,347,456 | €1,428,006 | +€80,550 | +6.0% |
| Amounts receivable within one year | 40/41 | €34,908 | €28,829 | -€6,079 | -17.4% |
| Trade receivables | 40 | €30,310 | €28,829 | -€1,481 | -4.9% |
| Other amounts receivable | 41 | €4,598 | €0 | -€4,598 | -100% |
| Current investments | 50/53 | €1,228,000 | €1,305,000 | +€77,000 | +6.3% |
| Cash at bank and in hand | 54/58 | €28,558 | €68,132 | +€39,574 | +139% |
| Deferred charges and accrued income | 490/1 | €55,990 | €26,045 | -€29,945 | -53.5% |
| Total equity and liabilities | 10/49 | €6,311,131 | €6,332,132 | +€21,001 | +0.3% |
| Equity | 10/15 | €6,204,773 | €6,187,323 | -€17,449 | -0.3% |
| Contributions | 10/11 | €802,400 | €802,400 | = | 0.0% |
| Reserves | 13 | €5,402,373 | €5,384,923 | -€17,449 | -0.3% |
| Tax-exempt reserves | 132 | €378,288 | €286,852 | -€91,436 | -24.2% |
| Distributable reserves | 133 | €5,024,085 | €5,098,071 | +€73,987 | +1.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €106,358 | €144,809 | +€38,451 | +36.2% |
| Amounts payable after more than one year | 17 | - | €150 | +€150 | |
| Other amounts payable | 178/9 | - | €150 | +€150 | |
| Amounts payable within one year | 42/48 | €95,854 | €134,148 | +€38,294 | +40.0% |
| Trade debts | 44 | €4,845 | €5,353 | +€508 | +10.5% |
| Suppliers | 440/4 | €4,845 | €5,353 | +€508 | +10.5% |
| Taxes, remuneration and social security | 45 | €85,804 | €122,919 | +€37,115 | +43.3% |
| Taxes | 450/3 | €85,804 | €122,919 | +€37,115 | +43.3% |
| Other amounts payable | 47/48 | €5,205 | €5,876 | +€672 | +12.9% |
| Accrued charges and deferred income | 492/3 | €10,504 | €10,510 | +€6 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,918 | €59,549 | -€1,369 | -2.2% |
| Other operating charges | 640/8 | €10,074 | €11,722 | +€1,648 | +16.4% |
| Gross operating margin | 9900 | €361,295 | €355,967 | -€5,328 | -1.5% |
| Operating profit (loss) | 9901 | €290,303 | €284,696 | -€5,606 | -1.9% |
| Financial income | 75/76B | €37,925 | €24,414 | -€13,510 | -35.6% |
| Recurring financial income | 75 | €37,925 | €24,414 | -€13,510 | -35.6% |
| Financial charges | 65/66B | €255 | €389 | +€134 | +52.5% |
| Recurring financial charges | 65 | €255 | €389 | +€134 | +52.5% |
| Profit (loss) for the period before taxes | 9903 | €327,972 | €308,721 | -€19,251 | -5.9% |
| Income taxes | 67/77 | €112,148 | €100,716 | -€11,432 | -10.2% |
| Profit (loss) for the period | 9904 | €215,824 | €208,006 | -€7,818 | -3.6% |
| Transfer from tax-exempt reserves | 789 | €128,550 | €91,436 | -€37,114 | -28.9% |
| Transfer to tax-exempt reserves | 689 | €21,050 | €0 | -€21,050 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €323,324 | €299,442 | -€23,882 | -7.4% |
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 25 October 2026 via checked.be.