IZIFIN: 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.
IZIFIN
Largest movements
- Intangible fixed assets -€45,800
down €45,800 (-51.3%), from €89,362 to €43,562
- Current investments -€32,750
down €32,750 (-70.4%), from €46,495 to €13,745
- Tangible fixed assets -€18,942
down €18,942 (-30.5%), from €62,094 to €43,152
of which Furniture and vehicles: -€17,030
- Cash -€8,332
down €8,332 (-60.5%), from €13,769 to €5,437
mainly Net result for the year (-€102,050) and Debts after one year (-€17,443)
- Profit (loss) carried forward -€102,050
down €102,050, from €40,081 to -€61,969
- Debts after one year -€17,443
down €17,443 (-100%), from €17,443 to €0
- Current portion of long-term debt +€6,872
up €6,872 (+26.9%), from €25,570 to €32,443
- Trade debts +€4,846
up €4,846 (+6.9%), from €70,194 to €75,040
- Gross operating margin -€75,953
down €75,953 (-62.7%), from €121,145 to €45,191
- Financial charges -€48,888
down €48,888 (-97.3%), from €50,237 to €1,349
- Staff costs +€21,874
up €21,874 (+42.1%), from €51,908 to €73,782
- Taxes +€14,945
up €14,945 (+27,173%), from €55 to €15,000
- Depreciation -€6,374
down €6,374 (-9.6%), from €66,086 to €59,712
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 | €212,432 | €106,972 | -€105,460 | -49.6% |
| Fixed assets | 21/28 | €151,819 | €86,714 | -€65,105 | -42.9% |
| Intangible fixed assets | 21 | €89,362 | €43,562 | -€45,800 | -51.3% |
| Tangible fixed assets | 22/27 | €62,094 | €43,152 | -€18,942 | -30.5% |
| Land and buildings | 22 | €1,359 | €784 | -€576 | -42.3% |
| Plant, machinery and equipment | 23 | €3,086 | €1,750 | -€1,336 | -43.3% |
| Furniture and vehicles | 24 | €57,649 | €40,619 | -€17,030 | -29.5% |
| Financial fixed assets | 28 | €363 | €0 | -€363 | -100% |
| Current assets | 29/58 | €60,614 | €20,258 | -€40,355 | -66.6% |
| Amounts receivable within one year | 40/41 | €350 | €1,077 | +€727 | +208% |
| Trade receivables | 40 | €350 | €1,077 | +€727 | +208% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €46,495 | €13,745 | -€32,750 | -70.4% |
| Cash at bank and in hand | 54/58 | €13,769 | €5,437 | -€8,332 | -60.5% |
| Deferred charges and accrued income | 490/1 | - | €0 | = | |
| Total equity and liabilities | 10/49 | €212,432 | €106,972 | -€105,460 | -49.6% |
| Equity | 10/15 | €92,532 | -€9,518 | -€102,050 | |
| Contributions | 10/11 | €20,451 | €20,451 | = | 0.0% |
| Reserves | 13 | €32,000 | €32,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €32,000 | €32,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €40,081 | -€61,969 | -€102,050 | |
| Amounts payable | 17/49 | €119,900 | €116,490 | -€3,410 | -2.8% |
| Amounts payable after more than one year | 17 | €17,443 | €0 | -€17,443 | -100% |
| Financial debts | 170/4 | €17,443 | €0 | -€17,443 | -100% |
| Amounts payable within one year | 42/48 | €102,457 | €116,490 | +€14,032 | +13.7% |
| Current portion of amounts payable after more than one year | 42 | €25,570 | €32,443 | +€6,872 | +26.9% |
| Trade debts | 44 | €70,194 | €75,040 | +€4,846 | +6.9% |
| Suppliers | 440/4 | €70,194 | €75,040 | +€4,846 | +6.9% |
| Advances received on contracts in progress | 46 | €316 | €2,416 | +€2,100 | +666% |
| Taxes, remuneration and social security | 45 | €6,378 | €6,334 | -€44 | -0.7% |
| Taxes | 450/3 | €6,374 | €249 | -€6,125 | -96.1% |
| Remuneration and social security | 454/9 | €4 | €6,085 | +€6,081 | +139,465% |
| Other amounts payable | 47/48 | - | €258 | +€258 | |
| Remuneration, social security and pensions | 62 | €51,908 | €73,782 | +€21,874 | +42.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,086 | €59,712 | -€6,374 | -9.6% |
| Other operating charges | 640/8 | €962 | €0 | -€962 | -100% |
| Gross operating margin | 9900 | €121,145 | €45,191 | -€75,953 | -62.7% |
| Operating profit (loss) | 9901 | €2,189 | -€88,303 | -€90,492 | |
| Financial income | 75/76B | €1,987 | €2,602 | +€615 | +31.0% |
| Recurring financial income | 75 | €1,987 | €2,602 | +€615 | +31.0% |
| Financial charges | 65/66B | €50,237 | €1,349 | -€48,888 | -97.3% |
| Recurring financial charges | 65 | €50,237 | €1,349 | -€48,888 | -97.3% |
| Profit (loss) for the period before taxes | 9903 | -€46,061 | -€87,050 | -€40,989 | -89.0% |
| Income taxes | 67/77 | €55 | €15,000 | +€14,945 | +27,173% |
| Profit (loss) for the period | 9904 | -€46,116 | -€102,050 | -€55,934 | -121% |
| Profit (loss) for the period to be appropriated | 9905 | -€46,116 | -€102,050 | -€55,934 | -121% |
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 16 October 2026 via checked.be.