IZIAP: 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.
IZIAP
Largest movements
- Cash +€27,607
up €27,607 (+26.2%), from €105,406 to €133,013
mainly Net result for the year (+€58,268) and Depreciation (+€16,699)
- Tangible fixed assets -€8,943
down €8,943 (-15.3%), from €58,308 to €49,364
of which Furniture and vehicles: -€13,005
- Receivables within one year -€5,949
down €5,949 (-16.7%), from €35,659 to €29,710
of which Other amounts receivable: -€7,205
- Reserves +€58,268
up €58,268 (+49.3%), from €118,284 to €176,553
- Other debts -€44,862
no longer reported in 2025 (was €44,862)
- Gross operating margin +€14,451
up €14,451 (+17.3%), from €83,431 to €97,883
- Taxes +€9,109
up €9,109 (+66.2%), from €13,758 to €22,867
- Financial income +€1,242
new in 2025: €1,242
- Depreciation +€1,122
up €1,122 (+7.2%), from €15,577 to €16,699
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 | €201,301 | €213,800 | +€12,499 | +6.2% |
| Fixed assets | 21/28 | €58,308 | €49,364 | -€8,943 | -15.3% |
| Tangible fixed assets | 22/27 | €58,308 | €49,364 | -€8,943 | -15.3% |
| Land and buildings | 22 | €25,670 | €29,965 | +€4,296 | +16.7% |
| Plant, machinery and equipment | 23 | €1,700 | €1,466 | -€234 | -13.8% |
| Furniture and vehicles | 24 | €30,939 | €17,933 | -€13,005 | -42.0% |
| Current assets | 29/58 | €142,993 | €164,435 | +€21,442 | +15.0% |
| Amounts receivable within one year | 40/41 | €35,659 | €29,710 | -€5,949 | -16.7% |
| Trade receivables | 40 | €18,616 | €19,872 | +€1,256 | +6.7% |
| Other amounts receivable | 41 | €17,043 | €9,838 | -€7,205 | -42.3% |
| Cash at bank and in hand | 54/58 | €105,406 | €133,013 | +€27,607 | +26.2% |
| Deferred charges and accrued income | 490/1 | €1,928 | €1,713 | -€215 | -11.2% |
| Total equity and liabilities | 10/49 | €201,301 | €213,800 | +€12,499 | +6.2% |
| Equity | 10/15 | €136,884 | €195,153 | +€58,268 | +42.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €118,284 | €176,553 | +€58,268 | +49.3% |
| Distributable reserves | 133 | €118,284 | €176,553 | +€58,268 | +49.3% |
| Amounts payable | 17/49 | €64,417 | €18,647 | -€45,770 | -71.1% |
| Amounts payable within one year | 42/48 | €64,417 | €18,647 | -€45,770 | -71.1% |
| Trade debts | 44 | €331 | €555 | +€224 | +67.8% |
| Suppliers | 440/4 | €331 | €555 | +€224 | +67.8% |
| Taxes, remuneration and social security | 45 | €19,224 | €18,091 | -€1,133 | -5.9% |
| Taxes | 450/3 | €19,224 | €18,091 | -€1,133 | -5.9% |
| Other amounts payable | 47/48 | €44,862 | - | -€44,862 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,577 | €16,699 | +€1,122 | +7.2% |
| Other operating charges | 640/8 | €1,246 | €1,198 | -€48 | -3.8% |
| Gross operating margin | 9900 | €83,431 | €97,883 | +€14,451 | +17.3% |
| Operating profit (loss) | 9901 | €66,608 | €79,985 | +€13,377 | +20.1% |
| Financial income | 75/76B | - | €1,242 | +€1,242 | |
| Recurring financial income | 75 | - | €1,242 | +€1,242 | |
| Financial charges | 65/66B | €72 | €92 | +€20 | +28.4% |
| Recurring financial charges | 65 | €72 | €92 | +€20 | +28.4% |
| Profit (loss) for the period before taxes | 9903 | €66,536 | €81,135 | +€14,599 | +21.9% |
| Income taxes | 67/77 | €13,758 | €22,867 | +€9,109 | +66.2% |
| Profit (loss) for the period | 9904 | €52,778 | €58,268 | +€5,490 | +10.4% |
| Profit (loss) for the period to be appropriated | 9905 | €52,778 | €58,268 | +€5,490 | +10.4% |
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 7 October 2026 via checked.be.