IZK: 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.
IZK
Largest movements
- Receivables within one year -€344,720
down €344,720 (-70.7%), from €487,893 to €143,174
of which Trade receivables: -€262,143
- Cash +€50,985
up €50,985 (+102.7%), from €49,662 to €100,646
mainly Receivables within one year (+€344,720) and Deferred charges and accrued income (+€2,036)
- Trade debts -€108,958
down €108,958 (-67.7%), from €161,018 to €52,059
- Profit (loss) carried forward -€70,990
down €70,990 (-27.0%), from €262,713 to €191,723
- Tax, wage and social debts -€58,418
no longer reported in 2025 (was €58,418)
of which Remuneration and social security: -€43,982
- Other debts -€57,000
no longer reported in 2025 (was €57,000)
- Gross operating margin -€260,021
down €260,021, from €241,940 to -€18,080
- Taxes +€21,763
up €21,763 (+181.5%), from €11,988 to €33,751
- Other operating charges +€15,262
up €15,262 (+421.2%), from €3,623 to €18,885
- Depreciation -€4,363
down €4,363 (-71.0%), from €6,143 to €1,780
- Financial income +€2,881
up €2,881 (+9342.8%), from €31 to €2,912
of which Financial income: +€1,791
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 | €547,209 | €251,842 | -€295,366 | -54.0% |
| Fixed assets | 21/28 | €6,263 | €6,668 | +€405 | +6.5% |
| Tangible fixed assets | 22/27 | €6,263 | €6,668 | +€405 | +6.5% |
| Plant, machinery and equipment | 23 | €937 | €950 | +€13 | +1.4% |
| Furniture and vehicles | 24 | €5,325 | €5,717 | +€392 | +7.4% |
| Current assets | 29/58 | €540,946 | €245,175 | -€295,772 | -54.7% |
| Amounts receivable within one year | 40/41 | €487,893 | €143,174 | -€344,720 | -70.7% |
| Trade receivables | 40 | €362,587 | €100,445 | -€262,143 | -72.3% |
| Other amounts receivable | 41 | €125,306 | €42,729 | -€82,577 | -65.9% |
| Cash at bank and in hand | 54/58 | €49,662 | €100,646 | +€50,985 | +102.7% |
| Deferred charges and accrued income | 490/1 | €3,392 | €1,355 | -€2,036 | -60.0% |
| Total equity and liabilities | 10/49 | €547,209 | €251,842 | -€295,366 | -54.0% |
| Equity | 10/15 | €270,773 | €199,783 | -€70,990 | -26.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | - | €6,200 | +€6,200 | |
| Share premium | 1100/10 | - | €6,200 | +€6,200 | |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €262,713 | €191,723 | -€70,990 | -27.0% |
| Amounts payable | 17/49 | €276,436 | €52,059 | -€224,376 | -81.2% |
| Amounts payable within one year | 42/48 | €276,436 | €52,059 | -€224,376 | -81.2% |
| Trade debts | 44 | €161,018 | €52,059 | -€108,958 | -67.7% |
| Suppliers | 440/4 | €161,018 | €52,059 | -€108,958 | -67.7% |
| Taxes, remuneration and social security | 45 | €58,418 | - | -€58,418 | |
| Taxes | 450/3 | €14,436 | - | -€14,436 | |
| Remuneration and social security | 454/9 | €43,982 | - | -€43,982 | |
| Other amounts payable | 47/48 | €57,000 | - | -€57,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,143 | €1,780 | -€4,363 | -71.0% |
| Other operating charges | 640/8 | €3,623 | €18,885 | +€15,262 | +421.2% |
| Gross operating margin | 9900 | €241,940 | -€18,080 | -€260,021 | |
| Operating profit (loss) | 9901 | €232,174 | -€38,746 | -€270,919 | |
| Financial income | 75/76B | €31 | €2,912 | +€2,881 | +9342.8% |
| Recurring financial income | 75 | €31 | €1,822 | +€1,791 | +5808.2% |
| Non-recurring financial income | 76B | - | €1,090 | +€1,090 | |
| Financial charges | 65/66B | €1,319 | €1,406 | +€86 | +6.5% |
| Recurring financial charges | 65 | €1,319 | €746 | -€573 | -43.4% |
| Non-recurring financial charges | 66B | - | €659 | +€659 | |
| Profit (loss) for the period before taxes | 9903 | €230,886 | -€37,239 | -€268,125 | |
| Income taxes | 67/77 | €11,988 | €33,751 | +€21,763 | +181.5% |
| Profit (loss) for the period | 9904 | €218,898 | -€70,990 | -€289,888 | |
| Profit (loss) for the period to be appropriated | 9905 | €218,898 | -€70,990 | -€289,888 |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.