I-ZUID: 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.
I-ZUID
Largest movements
- Current investments +€150,000
up €150,000 (+136.4%), from €110,000 to €260,000
- Tangible fixed assets -€36,153
down €36,153 (-3.9%), from €938,125 to €901,973
- Cash -€15,658
down €15,658 (-37.7%), from €41,585 to €25,927
mainly Current investments (-€150,000) and Debts after one year (-€80,004)
- Reserves +€177,267
up €177,267 (+63.4%), from €279,704 to €456,972
of which Distributable reserves: +€177,267
- Debts after one year -€80,004
down €80,004 (-14.3%), from €559,988 to €479,984
- Gross operating margin +€18,943
up €18,943 (+6.1%), from €310,522 to €329,466
- Financial charges -€11,886
down €11,886 (-35.2%), from €33,814 to €21,928
- Taxes +€9,050
up €9,050 (+14.8%), from €61,294 to €70,344
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 | €1,089,710 | €1,189,689 | +€99,979 | +9.2% |
| Fixed assets | 21/28 | €938,125 | €901,973 | -€36,153 | -3.9% |
| Tangible fixed assets | 22/27 | €938,125 | €901,973 | -€36,153 | -3.9% |
| Land and buildings | 22 | €938,125 | €901,973 | -€36,153 | -3.9% |
| Current assets | 29/58 | €151,585 | €287,716 | +€136,132 | +89.8% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €110,000 | €260,000 | +€150,000 | +136.4% |
| Cash at bank and in hand | 54/58 | €41,585 | €25,927 | -€15,658 | -37.7% |
| Deferred charges and accrued income | 490/1 | €0 | €1,789 | +€1,789 | |
| Total equity and liabilities | 10/49 | €1,089,710 | €1,189,689 | +€99,979 | +9.2% |
| Equity | 10/15 | €429,704 | €606,972 | +€177,267 | +41.3% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Capital | 10 | €150,000 | €150,000 | = | 0.0% |
| Issued capital | 100 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €279,704 | €456,972 | +€177,267 | +63.4% |
| Non-distributable reserves | 130/1 | €42,654 | €42,654 | = | 0.0% |
| Legal reserve | 130 | €42,654 | €42,654 | = | 0.0% |
| Distributable reserves | 133 | €237,050 | €414,317 | +€177,267 | +74.8% |
| Amounts payable | 17/49 | €660,006 | €582,717 | -€77,288 | -11.7% |
| Amounts payable after more than one year | 17 | €559,988 | €479,984 | -€80,004 | -14.3% |
| Financial debts | 170/4 | €559,988 | €479,984 | -€80,004 | -14.3% |
| Amounts payable within one year | 42/48 | €86,170 | €88,885 | +€2,716 | +3.2% |
| Current portion of amounts payable after more than one year | 42 | €80,004 | €80,004 | = | 0.0% |
| Trade debts | 44 | €0 | €206 | +€206 | |
| Suppliers | 440/4 | €0 | €206 | +€206 | |
| Taxes, remuneration and social security | 45 | €6,166 | €8,675 | +€2,510 | +40.7% |
| Taxes | 450/3 | €6,166 | €8,675 | +€2,510 | +40.7% |
| Accrued charges and deferred income | 492/3 | €13,848 | €13,848 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,153 | €36,153 | = | 0.0% |
| Other operating charges | 640/8 | €25,357 | €26,147 | +€790 | +3.1% |
| Gross operating margin | 9900 | €310,522 | €329,466 | +€18,943 | +6.1% |
| Operating profit (loss) | 9901 | €249,013 | €267,166 | +€18,154 | +7.3% |
| Financial income | 75/76B | €557 | €2,373 | +€1,816 | +326.0% |
| Recurring financial income | 75 | €557 | €2,373 | +€1,816 | +326.0% |
| Financial charges | 65/66B | €33,814 | €21,928 | -€11,886 | -35.2% |
| Recurring financial charges | 65 | €33,814 | €21,928 | -€11,886 | -35.2% |
| Profit (loss) for the period before taxes | 9903 | €215,755 | €247,612 | +€31,856 | +14.8% |
| Income taxes | 67/77 | €61,294 | €70,344 | +€9,050 | +14.8% |
| Profit (loss) for the period | 9904 | €154,461 | €177,267 | +€22,806 | +14.8% |
| Profit (loss) for the period to be appropriated | 9905 | €154,461 | €177,267 | +€22,806 | +14.8% |
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 6 October 2026 via checked.be.