Izanagi: 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.
Izanagi
Largest movements
- Receivables within one year +€39,132
up €39,132 (+902%), from €4,338 to €43,470
of which Other amounts receivable: +€41,022
- Cash -€21,626
down €21,626 (-44.7%), from €48,382 to €26,756
mainly Receivables within one year (-€39,132) and Debts after one year (-€16,770)
- Intangible fixed assets -€7,500
down €7,500 (-14.9%), from €50,342 to €42,842
- Stocks and contracts +€3,635
new in 2025: €3,635
- Tangible fixed assets -€2,521
down €2,521 (-24.6%), from €10,229 to €7,708
of which Furniture and vehicles: -€1,514
- Profit (loss) carried forward +€19,040
up €19,040, from -€12,491 to €6,549
- Debts after one year -€16,770
down €16,770 (-16.9%), from €99,483 to €82,713
- Tax, wage and social debts +€6,059
up €6,059 (+58.6%), from €10,337 to €16,397
of which Taxes: +€8,694
- Current portion of long-term debt +€3,486
up €3,486 (+44.9%), from €7,770 to €11,256
- Trade debts +€3,179
new in 2025: €3,179
- Gross operating margin -€4,372
down €4,372 (-10.2%), from €42,855 to €38,483
- Financial charges -€2,470
down €2,470 (-47.3%), from €5,220 to €2,749
- Other operating charges +€2,033
up €2,033 (+60.7%), from €3,350 to €5,384
- Taxes +€1,066
up €1,066 (+1,154%), from €92 to €1,159
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 | €119,951 | €132,428 | +€12,476 | +10.4% |
| Fixed assets | 21/28 | €67,231 | €57,211 | -€10,021 | -14.9% |
| Intangible fixed assets | 21 | €50,342 | €42,842 | -€7,500 | -14.9% |
| Tangible fixed assets | 22/27 | €10,229 | €7,708 | -€2,521 | -24.6% |
| Plant, machinery and equipment | 23 | €812 | €602 | -€210 | -25.8% |
| Furniture and vehicles | 24 | €3,785 | €2,271 | -€1,514 | -40.0% |
| Other tangible fixed assets | 26 | €5,631 | €4,834 | -€797 | -14.1% |
| Financial fixed assets | 28 | €6,660 | €6,660 | = | 0.0% |
| Current assets | 29/58 | €52,720 | €75,217 | +€22,497 | +42.7% |
| Stocks and contracts in progress | 3 | - | €3,635 | +€3,635 | |
| Stocks | 30/36 | - | €3,635 | +€3,635 | |
| Amounts receivable within one year | 40/41 | €4,338 | €43,470 | +€39,132 | +902% |
| Trade receivables | 40 | €1,889 | - | -€1,889 | |
| Other amounts receivable | 41 | €2,449 | €43,470 | +€41,022 | +1,675% |
| Cash at bank and in hand | 54/58 | €48,382 | €26,756 | -€21,626 | -44.7% |
| Deferred charges and accrued income | 490/1 | - | €1,355 | +€1,355 | |
| Total equity and liabilities | 10/49 | €119,951 | €132,428 | +€12,476 | +10.4% |
| Equity | 10/15 | -€491 | €18,549 | +€19,040 | |
| Contributions | 10/11 | €12,000 | €12,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,491 | €6,549 | +€19,040 | |
| Amounts payable | 17/49 | €120,442 | €113,879 | -€6,563 | -5.4% |
| Amounts payable after more than one year | 17 | €99,483 | €82,713 | -€16,770 | -16.9% |
| Financial debts | 170/4 | €99,483 | €82,713 | -€16,770 | -16.9% |
| Amounts payable within one year | 42/48 | €18,107 | €30,832 | +€12,724 | +70.3% |
| Current portion of amounts payable after more than one year | 42 | €7,770 | €11,256 | +€3,486 | +44.9% |
| Trade debts | 44 | - | €3,179 | +€3,179 | |
| Suppliers | 440/4 | - | €3,179 | +€3,179 | |
| Taxes, remuneration and social security | 45 | €10,337 | €16,397 | +€6,059 | +58.6% |
| Taxes | 450/3 | €7,703 | €16,397 | +€8,694 | +113% |
| Remuneration and social security | 454/9 | €2,634 | - | -€2,634 | |
| Accrued charges and deferred income | 492/3 | €2,852 | €335 | -€2,517 | -88.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,898 | €10,537 | -€362 | -3.3% |
| Other operating charges | 640/8 | €3,350 | €5,384 | +€2,033 | +60.7% |
| Non-recurring operating charges | 66A | - | €100 | +€100 | |
| Gross operating margin | 9900 | €42,855 | €38,483 | -€4,372 | -10.2% |
| Operating profit (loss) | 9901 | €28,607 | €22,463 | -€6,144 | -21.5% |
| Financial income | 75/76B | €136 | €485 | +€349 | +256% |
| Recurring financial income | 75 | €136 | €485 | +€349 | +256% |
| Financial charges | 65/66B | €5,220 | €2,749 | -€2,470 | -47.3% |
| Recurring financial charges | 65 | €5,220 | €2,749 | -€2,470 | -47.3% |
| Profit (loss) for the period before taxes | 9903 | €23,523 | €20,199 | -€3,324 | -14.1% |
| Income taxes | 67/77 | €92 | €1,159 | +€1,066 | +1,154% |
| Profit (loss) for the period | 9904 | €23,431 | €19,040 | -€4,391 | -18.7% |
| Profit (loss) for the period to be appropriated | 9905 | €23,431 | €19,040 | -€4,391 | -18.7% |
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 18 October 2026 via checked.be.