Izet Construct: 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.
Izet Construct
Largest movements
- Receivables within one year -€147,493
down €147,493 (-60.9%), from €242,056 to €94,563
of which Other amounts receivable: -€142,768
- Cash -€11,904
down €11,904 (-70.0%), from €17,014 to €5,110
mainly Trade debts (-€149,703) and Investment in fixed assets (net) (-€33,987)
- Trade debts -€149,703
down €149,703 (-67.5%), from €221,665 to €71,962
- Debts after one year -€14,298
down €14,298 (-5.2%), from €274,967 to €260,669
- Accrued charges and deferred income +€8,752
up €8,752 (+875%), from €1,000 to €9,752
- Current portion of long-term debt +€7,496
up €7,496 (+22.2%), from €33,730 to €41,226
- Gross operating margin -€52,601
down €52,601 (-47.7%), from €110,260 to €57,659
- Taxes -€13,486
down €13,486 (-84.0%), from €16,054 to €2,568
- Staff costs -€11,418
down €11,418 (-44.9%), from €25,438 to €14,020
- Financial charges +€6,551
up €6,551 (+121%), from €5,412 to €11,963
- Depreciation +€6,394
up €6,394 (+23.9%), from €26,708 to €33,102
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 | €725,388 | €568,289 | -€157,099 | -21.7% |
| Fixed assets | 21/28 | €439,912 | €440,797 | +€885 | +0.2% |
| Tangible fixed assets | 22/27 | €439,462 | €440,347 | +€885 | +0.2% |
| Land and buildings | 22 | €370,929 | €361,260 | -€9,669 | -2.6% |
| Plant, machinery and equipment | 23 | €4,002 | €3,716 | -€286 | -7.1% |
| Furniture and vehicles | 24 | €64,531 | €75,371 | +€10,840 | +16.8% |
| Financial fixed assets | 28 | €450 | €450 | = | 0.0% |
| Current assets | 29/58 | €285,476 | €127,492 | -€157,984 | -55.3% |
| Amounts receivable after more than one year | 29 | €25,000 | €25,000 | = | 0.0% |
| Trade receivables | 290 | €25,000 | €25,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €242,056 | €94,563 | -€147,493 | -60.9% |
| Trade receivables | 40 | €8,677 | €3,952 | -€4,725 | -54.5% |
| Other amounts receivable | 41 | €233,379 | €90,611 | -€142,768 | -61.2% |
| Cash at bank and in hand | 54/58 | €17,014 | €5,110 | -€11,904 | -70.0% |
| Deferred charges and accrued income | 490/1 | €1,406 | €2,819 | +€1,413 | +100% |
| Total equity and liabilities | 10/49 | €725,388 | €568,289 | -€157,099 | -21.7% |
| Equity | 10/15 | €166,277 | €158,811 | -€7,466 | -4.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €57,290 | €53,132 | -€4,158 | -7.3% |
| Tax-exempt reserves | 132 | €51,790 | €47,632 | -€4,158 | -8.0% |
| Distributable reserves | 133 | €5,500 | €5,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €96,587 | €93,279 | -€3,308 | -3.4% |
| Amounts payable | 17/49 | €559,111 | €409,478 | -€149,633 | -26.8% |
| Amounts payable after more than one year | 17 | €274,967 | €260,669 | -€14,298 | -5.2% |
| Financial debts | 170/4 | €274,967 | €260,669 | -€14,298 | -5.2% |
| Amounts payable within one year | 42/48 | €283,144 | €139,057 | -€144,087 | -50.9% |
| Current portion of amounts payable after more than one year | 42 | €33,730 | €41,226 | +€7,496 | +22.2% |
| Trade debts | 44 | €221,665 | €71,962 | -€149,703 | -67.5% |
| Suppliers | 440/4 | €221,665 | €71,962 | -€149,703 | -67.5% |
| Taxes, remuneration and social security | 45 | €27,749 | €20,721 | -€7,028 | -25.3% |
| Taxes | 450/3 | €27,749 | €17,041 | -€10,708 | -38.6% |
| Remuneration and social security | 454/9 | - | €3,680 | +€3,680 | |
| Other amounts payable | 47/48 | - | €5,148 | +€5,148 | |
| Accrued charges and deferred income | 492/3 | €1,000 | €9,752 | +€8,752 | +875% |
| Remuneration, social security and pensions | 62 | €25,438 | €14,020 | -€11,418 | -44.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,708 | €33,102 | +€6,394 | +23.9% |
| Other operating charges | 640/8 | €2,859 | €3,210 | +€351 | +12.3% |
| Non-recurring operating charges | 66A | €946 | €600 | -€346 | -36.6% |
| Gross operating margin | 9900 | €110,260 | €57,659 | -€52,601 | -47.7% |
| Operating profit (loss) | 9901 | €54,309 | €6,727 | -€47,582 | -87.6% |
| Financial income | 75/76B | €1,411 | €338 | -€1,073 | -76.0% |
| Recurring financial income | 75 | €1,411 | €338 | -€1,073 | -76.0% |
| Financial charges | 65/66B | €5,412 | €11,963 | +€6,551 | +121% |
| Recurring financial charges | 65 | €5,412 | €11,963 | +€6,551 | +121% |
| Profit (loss) for the period before taxes | 9903 | €50,308 | -€4,898 | -€55,206 | |
| Income taxes | 67/77 | €16,054 | €2,568 | -€13,486 | -84.0% |
| Profit (loss) for the period | 9904 | €34,254 | -€7,466 | -€41,720 | |
| Transfer from tax-exempt reserves | 789 | - | €1,569 | +€1,569 | |
| Profit (loss) for the period to be appropriated | 9905 | €34,254 | -€5,897 | -€40,151 |
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 14 October 2026 via checked.be.