IZO MASTER: 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.
IZO MASTER
Largest movements
- Cash -€23,696
down €23,696 (-66.5%), from €35,645 to €11,949
mainly Trade debts (-€35,171) and Receivables within one year (-€9,856)
- Deferred charges and accrued income -€11,527
down €11,527 (-41.7%), from €27,611 to €16,084
- Receivables within one year +€9,856
up €9,856 (+16.7%), from €59,096 to €68,952
of which Trade receivables: +€6,320
- Tangible fixed assets -€1,451
down €1,451 (-49.2%), from €2,948 to €1,497
of which Furniture and vehicles: -€999
- Trade debts -€35,171
down €35,171 (-98.0%), from €35,899 to €728
- Tax, wage and social debts +€11,221
up €11,221 (+267.2%), from €4,200 to €15,421
of which Taxes: +€11,421
- Profit (loss) carried forward -€2,867
down €2,867 (-3.6%), from €80,201 to €77,334
- Gross operating margin -€13,873
down €13,873 (-55.9%), from €24,834 to €10,961
- Taxes +€5,341
new in 2026: €5,341
- Other operating charges -€1,147
down €1,147 (-59.4%), from €1,929 to €783
- Depreciation +€432
up €432 (+42.4%), from €1,019 to €1,451
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €125,300 | €98,483 | -€26,818 | -21.4% |
| Fixed assets | 21/28 | €2,948 | €1,497 | -€1,451 | -49.2% |
| Tangible fixed assets | 22/27 | €2,948 | €1,497 | -€1,451 | -49.2% |
| Plant, machinery and equipment | 23 | €1,292 | €840 | -€452 | -35.0% |
| Furniture and vehicles | 24 | €1,657 | €657 | -€999 | -60.3% |
| Current assets | 29/58 | €122,352 | €96,985 | -€25,367 | -20.7% |
| Amounts receivable within one year | 40/41 | €59,096 | €68,952 | +€9,856 | +16.7% |
| Trade receivables | 40 | €42,844 | €49,164 | +€6,320 | +14.8% |
| Other amounts receivable | 41 | €16,253 | €19,789 | +€3,536 | +21.8% |
| Cash at bank and in hand | 54/58 | €35,645 | €11,949 | -€23,696 | -66.5% |
| Deferred charges and accrued income | 490/1 | €27,611 | €16,084 | -€11,527 | -41.7% |
| Total equity and liabilities | 10/49 | €125,300 | €98,483 | -€26,818 | -21.4% |
| Equity | 10/15 | €85,201 | €82,334 | -€2,867 | -3.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €80,201 | €77,334 | -€2,867 | -3.6% |
| Amounts payable | 17/49 | €40,099 | €16,149 | -€23,950 | -59.7% |
| Amounts payable within one year | 42/48 | €40,099 | €16,149 | -€23,950 | -59.7% |
| Trade debts | 44 | €35,899 | €728 | -€35,171 | -98.0% |
| Suppliers | 440/4 | €35,899 | €728 | -€35,171 | -98.0% |
| Taxes, remuneration and social security | 45 | €4,200 | €15,421 | +€11,221 | +267.2% |
| Taxes | 450/3 | - | €11,421 | +€11,421 | |
| Remuneration and social security | 454/9 | €4,200 | €4,000 | -€200 | -4.8% |
| Non-recurring operating income | 76A | €1,291 | - | -€1,291 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,019 | €1,451 | +€432 | +42.4% |
| Other operating charges | 640/8 | €1,929 | €783 | -€1,147 | -59.4% |
| Gross operating margin | 9900 | €24,834 | €10,961 | -€13,873 | -55.9% |
| Operating profit (loss) | 9901 | €21,886 | €8,728 | -€13,158 | -60.1% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €234 | €175 | -€59 | -25.2% |
| Recurring financial charges | 65 | €234 | €175 | -€59 | -25.2% |
| Profit (loss) for the period before taxes | 9903 | €21,653 | €8,553 | -€13,099 | -60.5% |
| Income taxes | 67/77 | - | €5,341 | +€5,341 | |
| Profit (loss) for the period | 9904 | €21,653 | €3,212 | -€18,441 | -85.2% |
| Profit (loss) for the period to be appropriated | 9905 | €21,653 | €3,212 | -€18,441 | -85.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.