CIZAU: 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.
CIZAU
Largest movements
- Tangible fixed assets +€280,778
up €280,778 (+1,354%), from €20,734 to €301,512
of which Plant, machinery and equipment: +€246,018
- Cash -€59,312
down €59,312 (-69.3%), from €85,627 to €26,315
mainly Investment in fixed assets (net) (-€291,590) and Receivables within one year (-€28,438)
- Receivables within one year +€28,438
up €28,438 (+469%), from €6,067 to €34,505
of which Trade receivables: +€19,256
- Deferred charges and accrued income -€10,991
down €10,991 (-21.8%), from €50,382 to €39,390
- Contributions +€160,000
up €160,000 (+3,200%), from €5,000 to €165,000
- Debts after one year +€114,125
up €114,125 (+251%), from €45,467 to €159,592
- Reserves -€29,578
down €29,578 (-36.7%), from €80,542 to €50,964
- Trade debts -€10,484
down €10,484 (-77.7%), from €13,496 to €3,011
- Current portion of long-term debt +€5,977
up €5,977 (+40.1%), from €14,900 to €20,877
- Gross operating margin -€70,797
down €70,797 (-32.4%), from €218,232 to €147,436
- Staff costs -€48,573
down €48,573 (-27.5%), from €176,506 to €127,933
- Taxes -€9,436
down €9,436, from €9,324 to -€112
- Financial charges +€2,682
up €2,682 (+71.0%), from €3,777 to €6,459
- Financial income +€2,488
up €2,488 (+318,956%), from €1 to €2,489
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 | €191,241 | €428,102 | +€236,861 | +124% |
| Fixed assets | 21/28 | €21,218 | €301,762 | +€280,544 | +1,322% |
| Intangible fixed assets | 21 | €484 | €249 | -€234 | -48.4% |
| Tangible fixed assets | 22/27 | €20,734 | €301,512 | +€280,778 | +1,354% |
| Plant, machinery and equipment | 23 | €11,738 | €257,756 | +€246,018 | +2,096% |
| Furniture and vehicles | 24 | €8,996 | €10,220 | +€1,224 | +13.6% |
| Leasing and similar rights | 25 | - | €33,536 | +€33,536 | |
| Current assets | 29/58 | €170,024 | €126,341 | -€43,683 | -25.7% |
| Amounts receivable after more than one year | 29 | - | €1,400 | +€1,400 | |
| Other amounts receivable | 291 | - | €1,400 | +€1,400 | |
| Stocks and contracts in progress | 3 | €27,948 | €24,729 | -€3,218 | -11.5% |
| Stocks | 30/36 | €27,948 | €24,729 | -€3,218 | -11.5% |
| Amounts receivable within one year | 40/41 | €6,067 | €34,505 | +€28,438 | +469% |
| Trade receivables | 40 | €2,391 | €21,647 | +€19,256 | +805% |
| Other amounts receivable | 41 | €3,676 | €12,859 | +€9,182 | +250% |
| Cash at bank and in hand | 54/58 | €85,627 | €26,315 | -€59,312 | -69.3% |
| Deferred charges and accrued income | 490/1 | €50,382 | €39,390 | -€10,991 | -21.8% |
| Total equity and liabilities | 10/49 | €191,241 | €428,102 | +€236,861 | +124% |
| Equity | 10/15 | €85,542 | €215,964 | +€130,422 | +152% |
| Contributions | 10/11 | €5,000 | €165,000 | +€160,000 | +3,200% |
| Reserves | 13 | €80,542 | €50,964 | -€29,578 | -36.7% |
| Distributable reserves | 133 | €80,542 | €50,964 | -€29,578 | -36.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €105,699 | €212,138 | +€106,439 | +101% |
| Amounts payable after more than one year | 17 | €45,467 | €159,592 | +€114,125 | +251% |
| Financial debts | 170/4 | €45,467 | €159,592 | +€114,125 | +251% |
| Amounts payable within one year | 42/48 | €59,336 | €51,974 | -€7,362 | -12.4% |
| Current portion of amounts payable after more than one year | 42 | €14,900 | €20,877 | +€5,977 | +40.1% |
| Trade debts | 44 | €13,496 | €3,011 | -€10,484 | -77.7% |
| Suppliers | 440/4 | €13,496 | €3,011 | -€10,484 | -77.7% |
| Advances received on contracts in progress | 46 | €623 | €866 | +€243 | +39.0% |
| Taxes, remuneration and social security | 45 | €30,317 | €27,158 | -€3,159 | -10.4% |
| Taxes | 450/3 | €9,816 | €12,022 | +€2,206 | +22.5% |
| Remuneration and social security | 454/9 | €20,501 | €15,136 | -€5,365 | -26.2% |
| Other amounts payable | 47/48 | €0 | €62 | +€62 | |
| Accrued charges and deferred income | 492/3 | €896 | €572 | -€324 | -36.2% |
| Remuneration, social security and pensions | 62 | €176,506 | €127,933 | -€48,573 | -27.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,855 | €11,047 | +€1,191 | +12.1% |
| Other operating charges | 640/8 | €2,286 | €3,181 | +€895 | +39.1% |
| Gross operating margin | 9900 | €218,232 | €147,436 | -€70,797 | -32.4% |
| Operating profit (loss) | 9901 | €29,584 | €5,275 | -€24,310 | -82.2% |
| Financial income | 75/76B | €1 | €2,489 | +€2,488 | +318,956% |
| Recurring financial income | 75 | €1 | €2,489 | +€2,488 | +318,956% |
| Financial charges | 65/66B | €3,777 | €6,459 | +€2,682 | +71.0% |
| Recurring financial charges | 65 | €3,777 | €6,459 | +€2,682 | +71.0% |
| Profit (loss) for the period before taxes | 9903 | €25,808 | €1,304 | -€24,504 | -94.9% |
| Income taxes | 67/77 | €9,324 | -€112 | -€9,436 | |
| Profit (loss) for the period | 9904 | €16,484 | €1,416 | -€15,068 | -91.4% |
| Profit (loss) for the period to be appropriated | 9905 | €16,484 | €1,416 | -€15,068 | -91.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.